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Vietnam’s Eximbank employees arrested for role in $10.8mn savings theft

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The bank clerks acted against the law after apparently being forced by their fugitive ex-leader

Police escort two arrested Eximbank employees in Ho Chi Minh City on March 26, 2018. Photo: Tuoi Tre

Vietnamese police on Monday arrested two employees of local lender Eximbank for their role in helping a wanted former leader steal more than US$10 million from multiple savings accounts of a ‘VIP’ depositor.

Ho Ngoc Thuy and Nguyen Thi Thi, who both work in the customer office of Eximbank’s Ho Chi Minh City branch, had their cubicles searched before being detained on an arrest warrant.

Police have also initiated legal proceedings against the female employees on charges of “deliberately violating state regulations on economic management, causing serious consequences.”

Thuy and Thi are believed to play a role in a high-profile savings theft in which Le Nguyen Hung, a former deputy director of Eximbank Ho Chi Minh City, used fake papers and forged authorization letters to steal VND245 billion ($10.79 million) from different savings books of a customer named Chu Thi Binh.

Police escort two arrested Eximbank employees in Ho Chi Minh City on March 26, 2018. Photo: Tuoi Tre

Eximbank admitted in February that Hung is on the run overseas after a wanted notice was issued for him in December 2017.

According to police investigation, Hung forged papers which stated that Binh authorized Nguyen Thi Hong Le, his wife’s aunt, to withdraw money from the savings books on her behalf.

The fugitive banker managed to have Binh sign those papers in advance, and himself faked the Le’s signature.

Thuy and Thi, as part of their work, were asked to confirm that those letters were authentic.

“They confirmed those papers in the absence of both Binh and Le,” Ngo Thanh Tung, a member of the Eximbank board of directors, told Tuoi Tre (Youth) newspaper, explaining why they were put under police investigation.

Tung underlined that the arrested employees were forced to “make such a technical mistake” by Hung, who gave them the documents along with another forged paper showing that Binh had agreed to have her money withdrawn.

“[Thuy and Thi] paid the price and had to deal with the law only because of an avoidable mistake,” Tung commented.

Police escort one of the two arrested Eximbank employees in Ho Chi Minh City on March 26, 2018. Photo: Tuoi Tre

As Binh demanded that Eximbank pay her back all of the money stolen by Hung, the lender at first said it would take no action pending the final ruling of a court.

The bank later offered to give Binh VND14.8 billion ($651,200), but the customer refused to take it.

Binh said while the money should be treated as part of the VND245 billion sum, Eximbank described it as a form of financial support for her during these tough times, making no mention of her fortune having vanished.

A series of scandals

Chu Thi Binh is not the only Eximbank depositor who has had their money ‘disappear’ without their knowledge.

Earlier this month, six customers of a transaction office of Eximbank in the north-central province of Nghe An complained that their savings, collectively worth VND50 billion ($2.2 million), had been gone mysteriously.

One of them, Nguyen Tien Nam, opened 13 savings accounts at the transaction office with a total deposit of more than VND28 billion ($1.23 million).

In August 2016, an Eximbank Nghe An banker named Nguyen Thi Lam turned herself to police officers, saying she had swindled the lender’s customers and appropriated their assets.

Upon learning of the news, Nam came to Eximbank to check his savings and was shocked to see that only VND196 million ($8,620) was left in the accounts.

Eximbank Nghe An offered to give him VND1.55 billion ($68,200) as ‘temporary support’ in the same manner as the case of Binh, but Nam turned the bank down.

A police officer holds a box of documents seized after searching an Eximbank branch in Ho Chi Minh City on March 26, 2018. Photo: Tuoi Tre

Nguyen Hoang Minh, deputy governor of the Ho Chi Minh City branch of the State Bank of Vietnam, said he has requested Eximbank to make a full report on the recent series of money-loss scandals within its network.

The State Bank of Vietnam has demanded that Eximbank tighten its procedures and internal regulations to minimize risks for the lender itself and its customers, Minh said.

“Eximbank has been asked to review its protocols on accepting savings and giving loans to avoid issues stemming from the ethics of its bankers,” he added.

By Son Luong (Tuoi Tre News)

With Uber SEA purchase, Grab becomes a food-delivery giant

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Grab’s pivotal purchase of Uber’s Southeast Asian business is now official.

Here are the details:

• Grab has bought Uber’s ride-hailing business as well as its food-delivery business, Uber Eats. That’s major.
• Grab will take over Uber Eats’ operations immediately.
• As part of the deal, Uber now owns 27.5 percent of Grab. The stake roughly reflects Uber’s share of the ride-hailing market, which is around a quarter, a Grab spokesperson told Tech in Asia.
• By next quarter, Grab will expand its food-delivery service, GrabFood, to the rest of Southeast Asia. It currently operates in Thailand and Indonesia.
• In 2017, Grab grew 2.5 times in app downloads and four times in the number of driver-partners.
• All Uber employees will receive offers to join Grab, the spokesman confirmed.
• The deal gives Grab a ride-hailing monopoly in the region. It ends costly discount battles against Uber, allowing Grab to focus on chipping away at Go-Jek and GoPay’s lead in Indonesia, a must-win market.

Foodpanda, Honestbee, and Deliveroo should be worried.

The biggest coup, however, is arguably the food-delivery business. Uber Eats competes strongly against its rivals, having snagged McDonald’s as a partner restaurant chain. It’s ranking especially well in the app stores in Singapore and Malaysia. Foodpanda, Honestbee, and Deliveroo should be worried.

For Grab, transportation is just the beginning. Although high-volume, the margins are razor-thin unless you can get rid of the drivers and replace them with AI. Food delivery works the same way. Like travel, food is a daily necessity. Grab probably won’t make a lot of money off food delivery, but that’s not the point.

By owning the platforms that serve two major consumer needs, Grab can collect a treasure trove of data that will allow it to shed its label of a ride-hailing firm and become the dominant ecommerce platform in Southeast Asia.

Key to its ambitions is building out all the infrastructure, a necessity in the region’s rising economies. It began with its e-wallet GrabPay, which is now a mode of payment for many merchants in Singapore, not to mention the actual rides on Grab.

It then moved into financial services when it announced that it will offer loans and insurance products to its driver and merchant network. This will grease Grab’s network and keep the transactions flowing.

Financial services could also be where Grab makes its money. Because there’s no need to expand a physical delivery network as the business grows, the marginal cost of expanding its loans and insurance offerings is arguably lower compared with rides and food delivery.

Further, many labor-intensive functions of a financial services business can be automated. Credit scoring and claims are just two examples. With a ready customer base on the Grab network, the cost of sales can be reduced.

Treasure trove of data

Now with Uber Eats in the fold, consumers will have another compelling reason to use GrabPay, and Grab will have more customers to sell its financial services to.

The consumer data is key. Grab will have insight into consumer behavior that not even the tech giants and traditional institutions have. This gives it an advantage. Ecommerce giants like Amazon have transaction data, but they can’t collate consumer travel patterns like Grab can.

Banks and insurance firms are probably sweating right now. While they have some understanding of consumer consumption patterns, they won’t be able to know, for example, a consumer’s favorite food or travel habits, let alone collate the data into market trends that will benefit Grab’s ecosystem. Grab could beat them in certain segments of the loans and insurance business.

Grab still faces a lot of uncertainty in the years ahead. Will governments block Grab’s monopoly? Can it properly govern its use of consumer data and prevent a privacy fiasco from developing (like what’s happening now with Facebook)? Can it win in Indonesia? Can it compete against Alibaba and Tencent in Southeast Asia, which are arguably the originators of Grab’s current strategy?

With subsidies winding down, consumer usage may follow suit. Yet Grab can’t keep the prices of its rides too low because it needs to pay drivers enough to keep them happy. Its loans business is also far from a guaranteed success. Grab needs to amass enough borrowers with strong credit scores and minimize the number of defaults which it will then have to write off.

My money is on an eventual mega-consolidation with a Chinese giant firmly in the mix, which will certainly set the stage for a reckoning between states and the private sector down the line.

Source: Terence Lee/TechinAsia

Vietnamese conglomerate FLC buys 24 planes from Airbus for launch of new airline

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Bamboo Airlines will be taking to the skies in 2019.

A Vietnamese corporation has signed a deal with Airbus to buy 24 airplanes for the launch of a new airline in 2019. The pact was struck on Monday in Paris during Party General Secretary Nguyen Phu Trong’s official visit to France.

FLC Group signed the memorandum of understanding with Airbus to buy the A321NEO airplanes for the upcoming Bamboo Airways.

Bamboo Airways will use jets from a third party before deploying the 24 airplanes ordered from Airbus. The carrier will focus on connecting Vietnam to international markets, along with domestic destinations.

Airbus Chief Commercial Officer Eric Schulz said the A321 is the frontrunner in the market’s mid-range segment, with the lowest operational costs. Airbus is proud to play an important role in developing the start-up carrier, he added.

“We trust the A321NEO to be the optimum option for Bamboo Airways for its comfort, efficiency and capacity,” said Trinh Van Quyet, chairman of FLC Group.

Launched in 2010, the A321 is the largest of the A320 family. It can carry up to 240 passengers and traverse 4,000 nautical miles.

During the same day in Paris, Vietnam Airlines signed a deal with Air France Industries KLM Engineering & Maintenance for a $500 million maintenance contract, the carrier said in a statement. The unit will handle maintenance of Vietnam Airlines’ 787 GEnx engines for 12 years.

Party General Secretary Trong’s visit marks the 45th anniversary of diplomatic relations between the two countries.

FLC Group is one of Vietnam’s largest conglomerates, involved in real estate, hotel construction and mining. The establishment of Bamboo Airways marks the group’s newest venture in the transport industry.

Source: VnExpress

FLC Group selects A321neo for Bamboo Airways

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Strong demand for largest member of the best-selling A320 Family

Vietnam’s FLC Group has signed a Memorandum of Understanding (MOU) with Airbus for up to 24 A321neo aircraft for future operation by start-up carrier Bamboo Airways.

The agreements were signed in Paris today by Trinh Van Quyet, Chairman of FLC Group and Eric Schulz, Chief Commercial Officer, Airbus during the official visit to France of Nguyễn Phú Trọng, General Secretary of the Central Committee of the Communist Party of Vietnam.

Bamboo Airways is set to begin operations in 2019 with aircraft on lease from third party lessors before taking delivery of the aircraft covered by today’s MOU with Airbus. The carrier will focus on linking international markets to Vietnamese leisure destinations, as well as on selected domestic routes.

“After evaluating carefully the competing products, FLC Group and Bamboo Airways have selected the A321neo as the most efficient option for our new operation,” said Trinh Van Quyet. “The A321neo will enable us to combine comfort, efficiency and the right capacity for our planned services, which will primarily serve fast growing leisure markets in Vietnam.”

“We are proud that the A321neo has been selected by FLC Group,” said Schulz. “This decision once again underscores the position of the A321 as the aircraft of choice in the mid-market segment with its additional capacity and the very lowest operating cost. Vietnam is one of the most vibrant economies in South East Asia and we are proud to play a key role in helping to develop the air transport system in this fast-growing market.”

FLC Group is one of the largest conglomerates in Vietnam and is involved in a wide range of businesses including real estate development, hotel construction and management, financial services, and mining. Bamboo will in particular serve destinations where FLC Group has heavily invested in tourism infrastructure.

FLC Group selects A321neo jetliners for Bamboo Airways

The A321 is the largest member of the A320 Family, seating up to 240 passengers, depending on cabin configuration. Incorporating the latest engines, aerodynamic advances, and cabin innovations, the A321neo offers a significant reduction in fuel consumption of 20 percent by 2020. It offers the longest range of any single-aisle aircraft and is capable of flying up to 4,000 nautical miles non-stop.

Source: Airbus

Con Dao beach among top 10 eco-friendly beaches in Southeast Asia

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Dat Tham Beach on Con Dao Island has been listed as one of the top ten eco-friendly beaches in Southeast Asia by the UK’s The Independent newspaper.

With the likes of the popular coastal cities of Da Nang, Nha Trang and Mui Ne now packed with tourists, Dat Tham Beach is different, as it’s located in the protected Con Dao National Park, which has allowed it to become one of the few undeveloped stretches of sand left in Vietnam, The Independent wrote.

As a part of the national park, Dat Tham Beach is often not accessible to tourists due to the high risk of forest fires. Getting there requires some effort, with visitors clocking-in at the park office before beginning a four-mile hike to the beach. The hike takes you through a dense section of the park and you may catch a glimpse of some of its rare animals, such as giant squirrels and the bow-fingered gecko. Once you reach the shore, you are met with a beautiful (and most likely completely secluded) crescent-shaped bay.

Isolated from the mainland, Con Dao is a group of 16 islands. The largest is known as Con Son. Con Dao served as a prison island for political prisoners during the French colonial era, when it was known as Poulo Condore, and in later years the Saigon regime imprisoned its opponents in the infamous cells known as the “tiger cages”. The old prison buildings are still standing and are open to the public, as is a small museum tracing the island’s history.

Today, what was “hell on earth” for prisoners has turned into “heaven on earth” for tourists. Beautiful beaches, hidden lagoons, coral reefs and scenic bays are also to be found and the islands remain partially covered by tropical forests, with very few tourists. “In addition to hiking, diving and exploring deserted coastal roads there are excellent wildlife-watching opportunities,” Lonely Planet once wrote. Hollywood superstars Angelina Jolie and Brad Pitt had a memorial vacation here with their kids a few years ago.

Con Dao also made the list of the 20 most mysterious islands on Earth by the US site Travel + Leisure, while CNN named it one of 12 paradise islands in Asia and the US weekly-magazine Time included it on a list of the 13 visit-worthy places around the world where travelers will be surprised by the blueness of the water.

Other beaches on the Independent’s list are Gili Air, on the Gili Islands in Indonesia; Ngapali Beach in Myanmar; Sunset Beach in Thailand; the beaches of Isla de Gigantes in the Philippines; Juara Beach in Malaysia; Bottle Beach in Thailand; the beaches of Kepayang Island in Indonesia; Bacuit Bay in the Philippines; and Lalaji Bay on Long Island in the Andamans.

Source: VN Economic Times

Japan’s Mazda opens largest Southeast Asia factory in Vietnam

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Japanese automaker Mazda on Sunday launched its largest and most modern production facility in Southeast Asia in central Vietnam.

The factory is the result of cooperation between Mazda and local automaker Truong Hai Auto Corporation (Thaco), according to which the latter will produce Mazda cars for local sales and exports to regional markets.

Located in Chu Lai Open Economic Zone in Quang Nam Province, the factory is Mazda’s biggest and most modern in Southeast Asia capable of producing cars of Japan-made quality, according to Thaco chairman Tran Ba Duong.

Duong was among four superrich Vietnamese included in the latest Forbes list of the world’s dollar billionaires.

The Thaco-Mazda factory in Quang Nam can produce 100,000 cars a year upon completion, at a cost of VND12 trillion (US$526.8 million).

The entire factory is integrated with the latest Industry 4.0 technologies available in Southeast Asia, making it fully automated and digitally controllable, Duong said.

Vietnamese Prime Minister Nguyen Xuan Phuc attended the factory’s opening ceremony on Sunday, which saw the launch of its first phase capable of manufacturing 50,000 cars yearly.

The premiere also launched a maritime trade route between Japan and Chu Lai the same day, and later oversaw the first shipment of car parts from Hiroshima to supply the Thaco-Mazda factory.

According to Hiroshi Inoue, managing executive officer at Mazda, Vietnam is the company’s 10th largest market worldwide in total auto sales.

Mazda’s investment of technology and production concepts in a Thaco-run factory would build a strong foundation for the local auto industry to make its own breakthroughs, he said.

Dr. Tran Dinh Thien, president of the Vietnam Institute of Economics (VIE), told Tuoi Tre (Youth) newspaper that the Thaco-Mazda cooperation would be a game changer in the local auto market in the years to come.

The Thaco-Mazda factory’s approach is to introduce more luxury cars for the Vietnamese market while increasing the localization ratio, Thien asserted.

Thaco has already inked deals to sell 1,000 buses produced at its newly-opened factory to Thailand, Indonesia, and the Philippines in 2018.

The company also plans to export $10 million worth of car parts and accessories to regional markets by the end of the year.

Source: TuoiTreNews

BKAV vows to make big investments, launches new BPhone in mid-2018

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BKAV Corporation has delayed its plan to launch a new generation of BPhone models until mid-year when a series of versions for different market segments will be introduced.

Buu Dien newspaper quoted its sources as saying that BKAV won’t launch the next-generation BPhone in early 2018 as initially planned. It has decided to make heavier investments to develop the model, and will delay the launch time.

On March 19, Schannel published a 16-second video showing images of a smartphone believed to be the mid-end BPhone that BKAV plans to launch into the market.

The smartphone in the video had a ‘B’ letter on the back. An image of a kingfisher was the wallpaper, just like the wallpaper of the Bphone 2017 version launched in August 2017.

The phone has a home button, and a silver-grey cover made of monolithic metal. According to Schannel, if compared to Bphone 2017, the smartphone in the clip has small changes in the positions of the flash and camera. The design of the speakers is very different from Bphone 2017 version.

On March 20, an insider revealed that the smartphone version in the clip was one of the trial versions which may be marketed this year. This means there would be more than one version in 2018.

Prior to that, local newspapers reported that BPhone 2018 would be a mid-end version with a retail price lower than BPhone 2017.

Jackie Pham, a viewer of Schannel, provided information about BPhone 2018 after watching the video: “Bphone 3 Lite (Bphone 3, Bphone 2018).

“There will also be Bphone 3 or Bphone 3 Pro; 5.5 inch screen FullHD 16:9, pixel density, 403 PPI RAM 4Gb, ROM 32Gb – 64Gb Qualcomm Snapdragon 660 octa-core, 2.2GHz Camera 16 Mpx f/1.8 Front camera 8 Mpx f/1.9, BOS operating system 2.0 on Android 8.0 Oreo platform, capable of upgrade to Android P 9.0; one-touch fingerprint security Bkav Mobile Security; retail price VND8,690,000”.

The 2017 BPhone version marketed in August 2017 is equipped with Snapdragon 625 chip, RAM 3GB and inner memory 32 GB, 16 MP back camera, integrated with AI to process images and a 3000 mAh battery. Cost will be VND9.790,000.

BPhone versions all run on BOS operating system developed by BKAV.

Lam Hong Quang, a senior executive of BKAV, said that seven years ago, when BKAV began working on BS, Nguyen Tu Quang, BKAV’s CEO decided that BOS ‘must be as open as Android, and as smooth as iOS’. BPhone 2017 runs with the second version of BOS.

BPhone 2017 is still positioned as a high-end product with luxury customer care service.

Source: VietNamNet

Young people find it difficult to start businesses in Vietnam

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Encouraged and supported by the government and local authorities, the startup movement in Hanoi has not developed well despite numerous business ideas.

“The lack of experience and impractical business ideas are the major reasons causing many startup projects to fail,” said Tran Le Tram Anh, an economics student from Hanoi National University.

Anh and her team attended a comp

Anh’s business idea improved after the competition, especially in terms of calling for capital. However, the team doesn’t intend to implement the plan because of a lack of resources.

In order to start up a business, she said, it is necessary to find experienced cooperators.

“After the government launched the startup movement, a lot of programs to support entrepreneurs were set up. However, the majority of students cannot access the programs,” Anh said.

Half a year after the competition for startup ideas, Khuat Hoang Lam, a fourth-year student at the Hanoi University of Science & Technology, has abandoned his project on providing designs for gardens for families, even though it was listed among the top 20 in the competition organized by Leipzig University, the Hanoi University of Science & Technology and the Vietnam Chamber of Commerce and Industry (VCCI).

“This is just for competition, and I still don’t have a plan to implement it,” he said.

Nguyen Van Khuong, who graduated from Architecture University, and his friends are meeting difficulties designing housing models adapted to climate change. The idea was praised at the Holcim Prize 2015-2016, but it still cannot be applied in real life.

Unlike Anh and Lam, Khuong is still pursuing his idea.

“I have updated the idea, applying German technology and using more durable materials,” Khuong said.

Khuong has had problems raising funds because his project is large scale. He complained that support programs for startups require too many procedures.

etition on startup ideas launched by the Vietnamese Students Association in early 2017. Their idea helps students find extra jobs, and allows app users to negotiate salaries and assess workers’ capabilities, thus creating a competitive and dynamic working environment.

The idea won third prize at the UEB Genesis Startup Program 2016.

According to Anh, in most cases, students’ business plans are “cumbersome, requiring complex operations”. She said the members of the jury only gave advice to simplify the idea for easier implementation.

Source: VietNamNet

People are freaking out that Facebook’s Android apps collect call and text data — but Facebook says it got permission

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Over the weekend, one Dylan McKay downloaded the archive of all his Facebook data — and found that the social network had been keeping extensive records of the calls and texts he had made from his Android phone.

A report from Ars Technica corroborated McKay’s findings not long after: under certain circumstances, Facebook’s Android apps will keep logs showing the names of the people you called and texted, how long the conversation lasted, and the other party’s phone number.

McKay’s original Twitter post has almost 40,000 retweets at the time of writing. Privacy fears around Facebook are at an all-time high following the Cambridge Analytica scandal, where 50 million users had their data used improperly by a political research firm.

First, Facebook says, it didn’t do anything without permission. It says that keeping logs of call and text data is an opt-in feature on two of its Android apps: You get prompted to share that data upon installing Facebook Messenger, and the low-data Facebook Lite. Keeping those records “helps you find and stay connected with the people you care about, and provide you with a better experience across Facebook,” says the blog.

It also says that the data is not sold to any third party, and that Facebook doesn’t read your texts or listen to your phone calls. Besides, says Facebook, it’s not crazy to ask for access to your contacts: “Contact importers are fairly common among social apps and services as a way to more easily find the people you want to connect with.”

However, the Ars Technica report gives a little more reason for Android users to worry.

Until Google instituted some changes in October 2017, allowing an app to access your contacts could also give it access to the kinds of call and text records in question in this matter. According to the report, all of the call and text records end in October 2017 — which suggests, but does not prove, that the main Facebook app for Android was taking advantage of that method to get the data.

Also of note is that Apple’s iOS, the operating system on the iPhone and iPad, doesn’t allow that kind of access to call and text data at all without very specific permission. That means Apple fans don’t have to worry as much about Facebook having call or text records.

Facebook provides a tool to see which contacts have been uploaded to Messenger, which you can get to here. But it’s a good reminder — if you’re really concerned about online privacy, think twice about uploading your address book.

By Matt Weinberger (Business Insider)

Hong Leong Bank Vietnam appointed Duong Duc Hung as its new CEO

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Duong Duc Hung has been appointed as General Director of Hong Leong Bank Vietnam.

Duong Duc Hung has more than 20 years of experience in financial and banking services in Vietnam and abroad. Prior to joining Hong Leong Bank Vietnam, he was a member of Management Committee – Transformation Director of Techcombank, and prior to that Head of Retail Banking at ANZ Vietnam. VNEconomictimes reported.

Duong Duc Hung holds a Bachelor’s degree in Foreign Trade from the Foreign Trade University and a Master of Business Administration from Katholieke Universiteit Leuven (Belgium).

Hong Leong Bank Vietnam is the first Southeast Asian bank to be granted a license to operate a wholly-owned foreign commercial bank, brining more than 100 years of regional banking heritage to Vietnam.

Commencing its operations in Ho Chi Minh City in October 2009, Hong Leong Bank Vietnam has expanded its network to four outlets and one direct sales office. With recent connection to over 16,000 ATMs and 100,000 POS terminals nationwide, the bank has brought convenience to customers to an exciting new level.

E-payments boom in Vietnam as customers seek safer options

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The country’s e-payments grew 22 percent to $6.14 billion in 2017.

Electronic payments are taking off in Vietnam thanks to a boom in internet usage and smartphone ownership.

E-payments in Vietnam grew 22 percent in 2017 from the previous year to $6.14 billion, Nikkei Asian Review quoted data from Statista, a local market research firm, as saying. The figure is projected to double to $12.33 billion in 2022.

According to economists, the potential for the e-payment sector is huge due to the expanding middle class and improved communications infrastructure.

More than half of Vietnam’s population of nearly 92 million people is online.

VNG, the operator of the country’s most popular messaging app Zalo, plans to install terminals for its ZaloPay e-payment service at 1,000 locations by the end of this year.

ZaloPay terminals will first be available mainly at convenience stores and electronics shops. The service allows users to deposit money and pay for online transactions and utility bills. It can also be used to transfer money from bank accounts and handle remittances using QR codes.

State-owned PetroVietnam Oil also introduced a mobile payment system in February.

PV Oil is accepting mobile payments using an account card and QR code. The system is expected to ease congestion at gas stations in a country with more than 40 million motorbikes. Moreover, payment records can be accessed online, allowing business users to keep track of fuel expenses.

Vietnam’s e-payment pioneer MoMo is also racing to expand. In addition to paying for online purchases, airline tickets and utility bills, MoMo users can pay for Uber rides thanks to a tie-up deal signed between M-Service and Uber Technologies in November 2017.

Foreign companies have taken note of Vietnam’s e-payment potential. China’s Alipay, operated by e-commerce giant Alibab, signed up with a Vietnamese company in November to provide e-payment services.

Banks are also getting involved. Maritime Bank and Sacombank have launched their own QR code-based online payment services that can be used at stores and restaurants.

The increase of e-commerce companies like Lazada and Sendo is also contributing to rising e-payments as online shoppers, many of whom do not have credit cards, can avoid paying cash on delivery, a practice that encourages theft by delivery workers.

Source: VnExpress

Southern team won over Northern team in VGA Union Cup

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The Southern team is close to full strength now, and their performance of late reflects it.

The Southern team won 6.5 – 5,5 on the last day, thereby winning the northern team 14.5 – 13.5 to the throne at the most prestigious golf tournament in Vietnam.

The tournament taking place at Long Thanh Course (Dong Nai) witnessed the most dramatic ending in 3 consecutive years.

The two teams in the South and the North 8-8 match after the first two days. The winning team is only determined on the last day of the match with 12 individual matches. There was no surprise when two teams captain Le Hung Nam (North) and Andrew Hung Pham (South) won over, Tran Anh Linh and Nguyen Duc Linh respectively.

Le Hung Nam – Team leader of the Northern team

The drama occurred when Thai Trung Hieu (North) overcame Nong Trung Hieu (South) with two holes, shortening the score to 13-14. At that time, the only remaining pair between Hoang Ngoc Quy (South) and Tran The Cuong (North) are in the match after hole 15.

Ngoc Quy and The Cuong each won a hole to maintain the score after the hole 17. The championship is only determined in the last pit. Ngoc Quy must win or draw in the 18th hole to bring the trophy to the South.

And the Southern Golfer did that. Ngoc Quy match results in the 18th hole, which means the final score with The Cuong, after the golfer in the North made the putt unsuccessful. The southern team won the final 14.5-13.5 North team.

Many Southern players could not hold back their tears because of their first win at the VGA Union Cup. They have been very close to the championship in the two previous tournaments, but this time the glory really came to the Southern team.

The southern golfers enjoy their very first victory.

VGA Union Cup is the annual tournament organized by the Vietnam Golf Association. Throughout three-time organizations, the Northern team won the championship twice, while the Southern team won a victory once.

Foreign investors demand IP action

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Online intellectual property infringements related to industrial design are worrying investors, including those from the US, forcing state agencies to set forth an adequate legal mechanism to handle the situation.

Numerous counterfeit items are being put up regularly on many e-commerce platforms, Facebook pages, and websites, regardless of intellectual property (IP) regulations on industrial design and brand names.

Sendo.vn, matdep.net, mango.vn, pinterest.com, and many others were accused by Nguyen Nhu Quynh, vice chief inspector from the Ministry of Science and Technology (MoST), of selling fake items such as wrist-watches, handbags, sun glasses, and more, violating IP regulations. Quynh made the statement at an IP workshop held by the American Chamber of Commerce in Vietnam (AmCham) last week in Hanoi.

Lazada Vietnam is offering feature phone LV102, the industrial design of which is strikingly similar to Nokia’s feature phone Nokia 1280. This raises doubts about IP infringements relating to industrial design, though Lazada set up its policies for sales and IP with careful consideration of manufacturers and providers that sell items on its platform.

Meanwhile, information about the LV102’s manufacturer is sketchy, with the website (http://lvmobile.vn/dtdd-gia-re/lv-mobile/lv102-136.html) providing no information about the manufacturer or provider – only information on points of sale in Ho Chi Minh City and a hotline for sales.

Two working days after VIR’s queries sent on March 14, Lazada Vietnam gave no feedback on the origin and industrial specifications of the LV102 feature phone.

The majority of IP infringement cases were handled through negotiations and penalties from VND50 million ($2,283) – VND100 million ($4,400) – light levels against the ceiling of VND500 million ($22,830) as prescribed in existing legal documents. These treatments are claimed to be not strong enough deterrents to stop IP infringements.

IP infringement cases are normally handled through dialogue and negotiations between the parties. State agencies would intervene if dialogue and negotiations do not produce results. Such cases are handled in accordance with Circular No.11/2015/TT-BKHCN issued by the MoST in 2015, said Quynh.

In addition to the fines, under Circular No.47/2014/TT-BCT issued by the Ministry of Industry and Trade, entities violating regulations relating to IP and the sale of counterfeit, fake, or illegally-imported items on their websites are only asked to remove information related to such items from the websites.

MoST Deputy Minister Tran Van Tung affirmed that the robust development of technology aids many business models on e-commerce platforms, Facebook, and other social media networks. These pose challenges to state agencies in controlling and managing e-commerce activities coupled with the protection of IP.

The alliance between ministries and agencies has faced a variety of difficulties in preventing IP violations, leading to few positive outcomes. The deputy minister said that dialogue and negotiations between dispute parties would remain an effective way to deal with the situation.

Adam Sitkoff, executive director of AmCham Vietnam in Hanoi, told VIR that the challenges Vietnam faces can be solved. For example, the country could demand higher fines from people engaged in IP infringements and increase the number of cases brought to court. This would also require improving the capacity of people working in justice and the courts, as well as in inspection.

Sitkoff added that in the US, the local administration tries to create mechanisms that are very strict on enforcement. If entities in the US show a pattern of IP infringements, they can be brought to court. “We need to see more of that in Vietnam to deter people from committing IP violations. Since many firms are trying to grow their brand, maybe this could make them feel more comfortable doing business in Vietnam”.

Regarding the criminalisation of IP infringements, the AmCham executive director suggested that the Vietnamese government should look at behaviours over time to identify which are right or wrong and which are good for the economy. “It could learn from the experience of the multitude of countries which have criminalised IP violations in the past,” he said.

“Some countries enforce very strict laws and harsh penalties for IP violations, under the approach that if the country is protected by strict IP enforcement, the economy will do better. There are several technology companies from the US which hope to come to Vietnam, but they are scared or worried about IP, because the enforcement of IP-related mechanisms is weak,” Sitkoff said.
For foreign companies, top priority should be given to registering their industrial design in Vietnam before introducing their products to the market, Nguyen Nguyet Dung, head of the Vietnam branch of the International Association for the Protection of Intellectual Property, told VIR. If the products are marketed, then the industrial design applications are filed for registration and such industrial design will lose its novelty.

Further, foreign providers could set up a network of local sales agents or distributors who are responsible for checking, supervising, and investigating the market, in order to discover infringements in a timely manner. Foreign-invested enterprises may, in return, provide support to the local enterprise to quickly settle the infringement, efficiently deter the violators, and save costs for enforcement actions.

The idea of establishing a specialised IP court remains a long-term approach in Vietnam, Quynh said, unveiling that in a more drastic move, Vietnam has drafted a document which mentions the establishment of an IP-dedicated division as part of courts.

Source: VIR

Viet Nam Futsal League to begin on March 31

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The Viet Nam Futsal League season is scheduled to kick off on March 31 and will conclude on April 22, the event’s organising board has announced.

Six teams from four cities will participate in the League. They include Thang Long Warriors, Hanoi Buffaloes, Danang Dragons, Saigon Heat, HCM City Wings and Can Tho Catfish.

Teams will compete in a round-robin format in the qualifying and knock-out rounds.

There will be a total of 19 matches in Hanoi, HCM City and Da Nang.

In the opening matches on March 31, Thang Long Warriors will meet Danang Dragons and Hanoi Buffaloes will face HCM City Wings.

The best players of the event will be selected to join the national team to compete in international events in preparation for the World Cup Futsal.

Source: VNS

Saigon’s Landmark 81 to Finish in 2018, Becoming Vietnam’s Tallest Skyscraper

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Vietnam’s construction industry is reaching new heights with the skyscraper project Landmark 81.

Tuoi Tre reports that last Friday, March 9, Saigon authorities and Coteccons – the building’s main contractor – held a topping out ceremony for the structure. During the event, the very last steel beam was put in place on top of Landmark 81, setting its final height at 461.2 meters, according to a press release by Coteccons. The building, however, is still in the final stages of development, with an expected completion date in mid- to late-2018.

When finished, Landmark 81 will surpass its Hanoi counterpart, Landmark 72, and become the tallest building in Vietnam. In October 2017, Landmark 81 reached 270 meters in height after the completion of its 69th floor, thus surpassing the Bitexco Financial Tower as Saigon’s tallest structure.

On an international level, according to this ranking, the 81-story skyscraper will be the tallest in the Indochina Peninsula and the 14th-tallest in the world, just behind the 462-meter-tall Lakhta Center building that’s currently under construction in St. Petersburg, Russia. This will also so be the first time that a Vietnam-based structure has broken into the top 15 tallest buildings in the world.

Located in Vinhomes Central Park, Landmark 81’s main investor is VinGroup while British design and engineering consulting firm Atkins is in charge of the design.

Source: Saigoneer