Parkson, which was once the leading distributor of branded goods in Vietnam, has had shut down four department stores in recent years, including all of their stores in Hanoi.
In 2015, at the ceremony to commemorate the 10th anniversary of its operation in Vietnam, Parkson was introduced as one of the largest retail chains with nine department stores.
After 13 years of applying the department store business model, Parkson now has only six stores. It reported a loss of VND24 billion in the first half of the 2017-2018 fiscal year.
Parkson has announced the shutting down of Parkson Flemington in HCM City. Three other Parkson shopping malls have closed. The last center in Hanoi was closed in 2016.
Pham Thai Binh from Savills HCMC said that Parkson experienced golden days in Vietnam from 2005 to 2010.
The department store model followed by Parkson gained great achievements, with introduction of many foreign brands.
However, since 2011, the business model has become less popular than shopping malls which have multi-functional areas integrating distribution and entertainment services.
Analysts say that customers’ consumption behaviors, habits and tastes vary in different areas, which has affected the operation of department stores.
Department stores range about 20,000 square metres, mainly focusing on comestics and fashion products. Therefore, it difficult to optimise benefits and accommodate areas for restaurants or amusement areas.
According to Binh, the limited area of department stores (less than 20,000 square meters in most cases), is also a weak point of the department store model.
Meanwhile, one-stop shopping at shopping malls have big advantages as they not only provides goods but also satisfy entertainment demands of adults and children.
“There is a growing shift from department stores to shopping malls, not only in Vietnam, but in Asia and the world as well,” he said.
In Vietnam, Parkson has been taking losses for the last six quarters. In the 2016-2017 fiscal year, it had a loss of VND67 billion.
Hanoi and HCMC are the two most developed urban areas with total retail premises area of 2.5 million square meters.
However, the retail premises density in the two cities is low, under 0.2 square meters per head, compared to Bangkok (0.89 square meters) and Singapore (0.75 square meters).
Parkson is also having difficulties in other markets. However, it is optimistic about the time to come, especially on the sales season in China in the third quarter of the fiscal year, when there will be many new-year festivals in the country.
Every country has its own sets of laws and regulations, and while most of them are there to ensure the country doesn’t descend into chaos, there are some laws that are highly questionable. Vietnam is no exception to this, with some laws that are similar to most other countries in the world, but also a select few that may seem strange to some.
Before we delve into this, take note that Vietnamese society operates on the Confucian concept of ‘Asian values’ and some of these laws run parallel with this ideology. So what may seem strange to an American or European may be very normal to an Asian. With that in mind, let’s move on to the list.
1. Register Yourself!
Whether you’re an expat or just a tourist, as long as you’re a foreign citizen, you are required to register with the local police when you move into a residence. As a tourist, your hotel/hostel usually takes care of this for you. (That is why they ask for your passport.) But for expats who are here for the long haul, your landlord is required to do it. Why? Simply so they know you live in that place and that you’re accounted for.
Also, stay out of trouble. If you’re the only foreigner in the neighbourhood, you’ll stick out like a lighthouse in a dark sea in the middle of the night.
2. Having More Than Two People on a Bike
More than 2 people on a bike
This should be more of a common sense entry than anything, but if you’re walking down the street and see a motorbike with an entire family of four (and their dog) on it, it is illegal. According to Vietnamese law (and common sense), it is illegal to have more than two people sitting on a bike. Plus, you also need a licence to be able to drive or ride a bike on the road, just like in every other country in the world.
3. You Technically Can’t Hook Up with a Local
This might sound like something right out of an old school “How to Be a Proper Asian” guidebook – which may or may not exist – but it’s actually against the law to engage in a non-marital sexual relationship and cohabitation with a Vietnamese citizen if you are a foreigner. Of course, this might come across as a major paradox if you consider the dodgy happenings right out of Bui Vien. The good news is: the authorities are not that bothered by it these days.
If you decide to take your relationship to the next level by getting married or having kids, make sure you get permission from the Vietnamese authorities. Any children born in Vietnam to unmarried parents cannot have the father’s name on the birth certificate.
4. You Actually Need a Work Permit…to Work
Work permit
Contrary to popular belief, it’s actually technically illegal to work in Vietnam on a tourist visa. You’ll need a full-fledged work permit if you’re a foreign employee, and the maximum validity of one is two years. The work permit gives you the flexibility to enter or exit Vietnam without a visa and is usually handled by the company that hires you. To aid your application, you’ll need a degree, a letter of referral from a respected company, proven experience in your field and a valid health check.
5. You Need Money for a License to Start a Business
Of course that goes without saying for all businesses, but we’re not just talking about start-up capital here. According to Vietnamese law, you will need at least US$30,000 in the bank before you can get a license to start your own business.
Now this will be a major issue for start-ups and online retailers who don’t need so much money to begin with, but that’s just the way it is here. Of course, there are some who start their business before registering and then pay once they have that amount sorted out, but this is playing with fire. All it takes is a jealous business rival and you’re in trouble.
When planning your business, it’s highly recommended to make sure you are in contact with a lawyer well-versed with Vietnamese law who can advise you on what to do and, if possible, speak to a CEO in the same field about his/her experience. For more helpful information, check out this site.
6. You Can Buy Property but Not Land
Buying in Vietnam
Ever dreamt of buying a nice plot of land to build a house, or a three-storey mansion so you can sit on your verandah sipping wine and reflecting on life? You can’t do it here.
According to Vietnamese law, you can buy a house but not the land. So you can still live that dream to buy a house, or a mansion, but the land wouldn’t belong to you and you will have to lease it. Land leases in Vietnam last a maximum of 50 years, after which you can renew the lease without the rent being increased. So yes, you can own the property as long as you lease the land but you can’t own the land.
7. It’s Illegal to Overwork Yourself
According to Vietnam’s Labour Code introduced in 2013, you are officially not allowed to work for one employer for more than 48 hours a week. This amounts to a maximum of 8 hours a day, or if you don’t work everyday, a maximum of 10 hours a day without being paid overtime.
If you are reading this now at 8:00 p.m. on a weekday on your office desktop, there’s a high chance you’re breaking the law. In other words, you should go home now.
8. Yes, the Legal Drinking Age Is 18
Drinking in Vietnam
This entry was made to clear any confusion about the legal drinking age in Vietnam. Yes, it is 18.
9. Know Your Probationary Period
Speaking of work, if you have just taken up a new job, your probationary period cannot exceed 30 days of employment with a position that requires professional or vocational qualifications and 60 days of employment with a position that requires a college-level qualification or above and just six days for all other cases.
You will be paid a minimum of 85 percent of that position’s official wage, so if you’re reading this and realise you’re being shortchanged at your current job, you know what to do!
10. You’re Not Allowed to Gamble
Gambling in Vietnam
Gambling, except in government licensed casinos, is illegal in Vietnam. Anyone found to be in violation of this law is subject to steep fines and/or a severe prison sentence. Access to licensed casinos is restricted to holders of foreign passports.
Alternatively, you could use that money for other not-so-illegal things.
11. Don’t Bring Your Pornography Over
It is illegal to import pornographic materials into Vietnam as pornography itself, including the production, distribution and possession, are all illegal in this country. Enforcement of this law really depends on your luck and the punishment varies between fines and detention. To be on the safe side, it’s better not to be walking around lugging DVDs of the dubious variety. The rationale behind this law is that pornography harms traditional Vietnamese values.
12. You’re Not Allowed to Export Antiques
Fancy that vase that you saw in Da Nang that has been around for about 200 years? Bad news: you can’t bring it back home. Well, not unless you get a permit from the Ministry of Culture. It is illegal to export antiques from Vietnam without a permit, so your best course of action is to speak to the ministry to get further advice on what you can do if you really like that vase and can already picture it in your living room back home.
13. Don’t Do Drugs, Not Even in Vietnam
Drugs in Vietnam
There seems to be a rather relaxed and nonchalant attitude about drug usage in Vietnam. After all, it’s not uncommon to catch a whiff of marijuana smoke wafting in the neighbourhood. But don’t be fooled – penalties for drug offences in Vietnam are severe!
Under the Vietnamese penal code, a person caught in possession of even a small amount of heroin can be sentenced to death. There are actually foreigners in prison now serving life sentences or facing the death penalty for drug trafficking, and Vietnamese authorities have tightened their stand recently against drug-related offences.
14. Prostitution Is Illegal
This might surprise a number of you, but prostitution is actually illegal in Vietnam! It’s very common to see ladies of the night canvassing for customers, though – usually male tourists walking alone – and sometimes you’ll get the occasional shady-looking middle-aged man on a bike asking you if you want a massage. Yes, all those are illegal and chargeable offences.
On a more serious note, the Government is trying to crack down on sex-trafficking, especially when it involves the underaged. Although it will take time to eradicate this due to the numerous syndicates around, it is still a work in progress.
On a side note, I’ve discovered a simple trick to brush away those pesky bikers who keep harassing me for a massage – just yell “I’m gay” and watch them scoot off into the night immediately. You’re welcome.
15. Maternity Leave Entitlements
Maternity leave
If you become pregnant, you are entitled to up to six months of maternity leave, with two of these months marked as compulsory. You will get 100 percent of your salary paid during that time and if you are carrying more than one baby, you are entitled to take an extra month of leave per child.
Imagine having quadruplets – you’re pretty much not going to the office for almost a year.
16. No Drugs, No Weapons, No… Used Car Parts
There exists a list of prohibited items that you should avoid bringing into the country. Some are straightforward like drugs and pornography, like I mentioned earlier, but there are also some other additions to that list, and some are strange.
For example, no weapons, ammunition and explosive materials; no military equipment; no reactionary and “depraved” cultural products which could include T-shirts with a beer brand’s logo on it; no fireworks; no second-hand consumer goods (yes, apparently); no second-hand electrical and electronic household appliances; no goods that can cause environmental damage; no second-hand spare parts; no waste and disposable materials; no money amounting to more than US$5,000 without declaration; and, my personal favourite: no children’s toys that can detrimentally influence a child’s personality, education, social order, safety or disturb the peace.
However, you are allowed to bring no more than 400 cigarettes, no more than 100 cigars, no more than 500 grammes of tobacco, no more than 1.5 litres of liquor at 22 percent of volume and above (spirits) and no more than 2 litres of liquor below 22 percent volume (beers and wine). So it’s not all that bad, I guess.
17. Be Careful What You Shoot
Shooting in Vietnam
For those of you into photography, or just like taking pictures in general, do take note that photography of, or near, military installations is generally prohibited. You might get your camera confiscated and be subjected to some serious questioning. Also, why would you be taking pictures of military installations in the first place?
Another big no-no is taking pictures during demonstrations. If you’re taking a picture of a non-state sanctioned event, you’re unwittingly putting yourself into a situation of being part of the demonstration which can get you in serious trouble, especially if you’re a foreigner; we’re looking at potential detention or deportation. So just stay away from demonstrations, let alone take pictures of one.
18. Things to Not Bring on Your Way Out
Now that you know what not to bring in, here’s what you can’t bring out of Vietnam: weapons, ammunition, explosive materials, military techniques equipment and effects; antiques; drugs of all kinds; toxic chemicals; wood, logs, timber, preliminary processed wood of all kinds; rotten materials (why would you even?); wild, or precious, and rare animals and plants; and money amounting to more than US$5,000 without declaring it.
19. Legal Age for Marriage Is…
Wedding in Vietnam
Twenty for men and eighteen for women. Of course this information was added just in case…
20. Don’t Linger Too Close to the Border
Earlier I mentioned that you’re not allowed to hang around near military installations. This law also applies to an area that is close to the border. If you’re planning to visit a village, commune or ward that is close to one, you may need to get permission from the provincial police department. Also always ensure that you have an ID with a photograph of you. This is not a suggestion, it’s an actual law.
So there you have it – 20 Vietnamese laws that every foreigner in this country should know. Always remember to err on the side of caution when dealing with any of these issues. There have been cases where foreigners got detained and their passports confiscated, and prisons in Vietnam aren’t exactly the best environment for one’s physical or mental well-being. So stay safe and stay out of unnecessary trouble.
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Vietnam’s steel sector looks likely to suffer under the tariffs US president Donald Trump launched this week. The ultimate impact of the tariff regime is still unclear, particularly as the US already moved late last year to impose tariffs on steel products from Vietnam after an investigation into whether Chinese steel companies were shipping steel through Vietnam to avoid US import tariffs.
More broadly, Vietnamese exporters were buoyed this week by the news that the country had joined 10 others in signing a new version of the Trans-Pacific Partnership. According to Marc Djandji, head of institutional sales at Ho Chi Minh-based Rong Viet Securities, the sectors likely to benefit most from the new trade pact include fishing, textiles, agriculture and electrical equipment. Djandji expects Vietnam’s stock market will also benefit. The market ended the week barely changed from last week, but remains up more than 60% over the past year.
For most of financial institutions in Vietnam, there always a problem, that is the message to customers, employees and employers, investors may not say the same voice.
The consumer brand designed to attract and retain customers. Then there’s the internal brand to engage employees, and the employer brand that human resource crafts to attract talent.
A bank’s consumer-focused TVC, OOH and print ads, for example, might tout exceptional customer service. Internal messaging, however, encourages employees to emphasize the bank’s competitive pricing and attractive promotion when they speak to customers, while potential employees hear that the bank is best known for its teamwork.
Aligning a bank’s three primary brand voices poses a challenge because they’re often developed and championed by different departments: marketing for the external consumer brand, internal communications for the employee brand and human resource for the employer brand.
Integrating the external and internal brand messaging strengthens the power of the overall brand, giving stakeholders across a variety of communication channels a consistent message. A recent study by LinkedIn and brand strategist Lippincott found businesses that closely align their internal and external brands produce a five-year cumulative growth in shareholder value of 40 percent.
Vietnam International Bank (VIB), one the 7 banks in Vietnam with highest financial strength, rated by Moody’s Investor Services, seamlessly aligns its employer, consumer and employee brands. But it takes plenty of coordination, led by the bank’s Marketing and Communications Division, to present a consistent, continuous brand look and feel, tone of voice across a variety of channels. VIB’s cumulative growth in shareholder value of 124 percent as the bank has been listed on Vietnam Upcom at VND17,000 per share by Jan 2017, and increased to VND38,000 per share as of Feb 2018.
We recently spoke with Mr. Duong Ngoc Dung, Board of Management member cum Head of Marketing and Communication Division (Marcom). He explained that the Marcom consists of representatives from across the bank. These include VIB’s retail banking marketing and wholesale banking marketing team, corporate affairs, digital marketing, internal communications, media relations and support the human resource division to manage the message about talent acquisition.
Duong Ngoc Dung, Board of Management member cum Head of Marketing and Communication Division at VIB
A set of brand guidelines keeps them all on the same page; a coordinated effort with the brand team ensures consistent messaging. At the core of VIB’ brand messaging, an engaged, empathetic workforce plays a starring role in the consumer, employer, investor and employee channels. Of course, it’s the employees themselves who must deliver on the brand promise for customers. Robust internal brands help drive successful external brands.
“I believe we’ve done a good job combining our consumer brand with our internal brands,” Duong stated. “In our Advertising materials, PR articles, on our website site and on our career site, it’s all about our colleagues and how they help our customers reach their potential.” The same theme carries through bank’s employee communication channels.
The advertising and other branding work that puts VIB’ employees front and center makes recruiting easier. “It’s awesome from a brand perspective because it gives talent acquisition so much to work with,” Duong says. “Not every company in Vietnam has that easy crossover. The fact that our colleagues are featured in our ads speaks volumes about how much emphasis we put on them.”
The communication channel and message feature branch managers and personal bankers, who describe in very human terms how they’ve helped their fellow “VIB” with the same everyday financial problems that they themselves face. The spots have an authentic ring to them and the messaging is consistent with what potential hires and employees hear in their respective channels—including social media, which is growing ever more influential with candidates.
VIB’s career page puts its talents in the spotlight as they tell their story, giving prospective hires a more intimate sense of what it’s like to work for the bank. The stories are compiled and told by a copywriter in talent acquisition and reviewed by the brand team.
The melded branding effort, which began about few years ago, delivers a handsome dividend for VIB’s employer brand. Duong points to several key metrics: higher ratings on Glassdoor, an increase in employee referrals, a decrease in cost-per-hire and a reduction in the time it takes to fill a position.
His advice: “Understand your value proposition by doing research with your employee base and your executives to learn what makes your bank unique from a candidate’s perspective. Then create a campaign that illustrates that uniqueness to candidates that is cohesive with your consumer brand.”
Can VIB’s unified brand strategy work at other bank? It certainly can if there’s support at the executive level, which can encourage, if not mandate collaboration among the stewards of the consumer, employee and employer, investor brands. And it can if a cross-functional brand team is established that works from a single set of brand guidelines with a rigorous brand review process.
A unified chorus singing the same praises of a brand’s promise can resonate with audiences far more so than the voices of several soloists—and produce the banking equivalent of three-part harmony.
By Holly Hughes, Bank Administration Institute, Chicago.
“I will fight for equality for transgender people. We all want to be treated like everyone else.’
Singer Nguyen Huong Giang from Vietnam took home the crown of Miss International Queen Pageant 2018 in Thailand on Friday night, beating 27 other contestants.
The beauty queen, 26, is the first Vietnamese to attend the competition, the world’s largest and most prestigious beauty pageant for transgender women that has been held annually in Thailand since 2004.
She also won Best Talent and Most Popular Introductory Video awards.
“I will definitely have meaningful activities for the LGBT community after returning to Vietnam with this victory,” Giang told the media after winning the crown.
For the Q&A part of contest, when asked what social campaign she would launch to make the world better, the Vietnamese singer answered: “I will fight for equality for transgender people. Everyone wants to be happy and so do transgender people. We all want a good life where we are treated like everyone else and not being discriminated.”
The transgender community endures discrimination in many parts of Vietnam, a country where conservative social mores dominate.
But in a rare act of social progression, the government is writing a law that will allow people to officially change their gender amid the growing LGBT scene in recent years.
The First Runner-up went to Jacqueline from Australia while Rinrada Thurapan of Thailand was named second runner-up.
The mission of the pageant aims towards LGBT and transgender awareness and equality, while all the profits from the televised show go to the Royal Charity AIDS Foundation of Thailand.
Joe Wong, who works with the advocacy group Asia Pacific Transgender Network (APTN), applauded contests like “Miss International Queen” as a “powerful medium to showcase the challenges, talents and hopes of trans people”.
“I’ve learnt from others that contests like these create sisterhood and bonds,” he told AFP, adding that the pageants would however benefit from a more inclusive definition of beauty.
The information was released at a press conference held on March 8 by the European Chamber of Commerce in Vietnam (Eurocham) to announce the results of the Business Climate Index (BCI) survey for the fourth quarter of 2017 and the action plan for 2018.
According to EuroCham Vietnam’s Deputy Director Joaquim Torrinha, more than 900 of its member businesses were optimistic about the business and investment environment in Vietnam last year, with a BCI of 77 points in the fourth quarter of 2017. Gellert Horvath, Co-Chairman of Eurocham Vietnam said that this result continues to show the expectations and positive assessments of European enterprises on the Vietnamese Government’s efforts to improve the business environment in recent times. As many as 50% of respondents to the survey answered that they will recruit more Vietnamese workers, while 38% of enterprises will maintain their current roster of employees in 2018.
The survey also showed that over 60% of respondents have found business success in Vietnam and only 3% have had worse results than expected. The announcement of the tenth White Book and the prospect of the EU-Vietnam Free Trade Agreement (EUVFTA) will be held on March 15.
Vietnam’s economic growth is seen expanding by 6.83 percent this year from 6.81 percent growth last year, Vietnam’s investment ministry said on Wednesday, citing its socio-economic forecasting and information agency.
This year’s growth would be led by the services and manufacturing sectors, the ministry said on its website. Vietnam’s economic growth last year was the highest since 2010.
Reporting by Hanoi Newsroom; Editing by Christian Schmollinger
On March 8 in Hanoi, vice chairman of Lotte Hwang Kag-Gyu met with Vietnamese Prime Minister Nguyen Xuan Phuc to explain Lotte’s business in Vietnam and discuss investment expansion and cooperation plans.
Lee Kwang Young, CEO of Lotte Asset Development, also attended this meeting.
According to Hwang Kag-Gyu, Lotte wishes to have continued investment and support for the businesses that are being carried out in Vietnam.
“In the future, Lotte will be a company that grows with Vietnam through investing in various business sectors, creating jobs and staging social contribution activities,” said Hwang at the reception.
Lotte has been active in Vietnamese food and restaurant business since the 1990s, and with its core businesses like distribution, services, and construction have continued to increase presence in Vietnam.
The group is currently pursuing two large-scale projects. The first is the Eco-Smart City, a large-scale complex with a department store, shopping mall, hotel, offices, and apartments in the Thu Thiem Urban Development Area, a developing area of Ho Chi Minh City.
In Hanoi, the group is also actively implementing its Lotte Mall Hanoi—a complex of apartments, offices, hotel, trade centre, and cinema.
Meanwhile, Lotte Center Hanoi, a large-scale complex opened in 2014, has become a landmark in Hanoi, raising Lotte’s image.
Lotte Group is currently pursuing two large-scale projects
Currently, there are 16 Lotte affiliated companies in Vietnam, including Lotte Confectionery, Lotte Department Store, Lotte Mart, Lotte GRS, Lotte Cinema, Lotte Asset Development, Lotte Hotel, and Lotte Duty Free, with 11,000 executives.
Lotte is highly valued for its growth potential in Vietnam and looks forward to continue investing in the future.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), also referred to as the ‘TPP without the U.S.,’ is still expected to bring in a number of benefits for different Vietnamese economic sectors, a top trade official said.
The Trans-Pacific Partnership (TPP) was signed in February 2016 by 12 countries that border the Pacific Ocean.
The ambitious trade deal, however, was effectively left for dead when the U.S., under the protectionist administration of President Donald Trump, announced its withdrawal in January 2017.
One year later, the 11 remaining countries rebranded the agreement as the CPTPP and intended to officially launch the new trade deal at a signing ceremony scheduled this Thursday in Chile.
The member states of the CPTPP are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Following the signing, the CPTPP will come into effect if six of the member states ratify the trade pact in their own countries.
The original TPP planned to cover 40 percent of the world’s economy. Without the U.S., the deal only involves 13.5 percent of global GDP.
The CPTPP will incorporate and maintain the high standards set forth by the original trade pact, with custom duties on 95 percent of goods to be removed in the years following its ratification.
Trade ministers and delegates from the remaining members of the Trans Pacific Partnership (TPP) attend the TPP Ministerial Meeting during the APEC 2017 in Da Nang, Vietnam November 9, 2017. Photo: Reuters
Vietnam was believed to be one of the biggest beneficiaries of the TPP.
According to Vietnam’s Ministry of Planning and Investment, the CPTPP will lead to GDP growth of 1.32 percent and a four percent jump in export revenue – a hefty drop from 6.7 percent and 15 percent increases in GDP and export revenue projected for the original 12-member TPP.
“The CPTPP will open new markets for Vietnam’s industrial and seafood sectors and also contribute to the country’s effort to fight poverty,” Luong Hoang Thai, head of the border trade department under the Ministry of Industry and Trade told Tuoi Tre (Youth) newspaper in an interview published on Thursday.
Chances from open markets
Thai said the new deal preserves all tariff outcomes agreed to under TPP, meaning that custom duties on 95 percent of trade in goods between the parties will be cut or eliminated, either immediately or according to pre-defined schedules, once the CPTPP enters into effect.
“The good news is that Vietnam was given a longer schedule for the tariff reduction and elimination, from seven to ten years compared to the common seven-year roadmap,” he said.
Thai said many of the trade pact parties have committed to fully open their respective markets for Vietnamese imports, such as seafood, tropical agricultural produce, textile and garment, and footwear.
“The CPTPP will leave positive impacts on the agriculture and seafood sectors, helping Vietnam to ease poverty for farmers and fishermen,” he said.
Luong Hoang Thai in the interview with Tuoi Tre
Under the CPTPP, other member countries will also cut all tariffs for imports of Vietnamese industrial goods to zero, compared to the current average rate of 1.7 percent, according to the official.
Some non-tariff barriers for Vietnamese goods will also be lifted in line with the trade deal, he added.
“Some countries, such as Japan and Canada, will immediately cut more than 90 percent of their tariffs for Vietnamese imports after the trade pact takes effect,” Thai said.
Challenges do not necessarily mean bad outcomes
However, as the agreement is to be implemented on a reciprocity basis, Vietnam will not merely enjoy benefits but also meet some challenges from the CPTPP, the official noted.
As other member states are slated to open their doors for Vietnamese imports, Vietnam will also eliminate custom duties for goods from other markets.
“The biggest challenge will be for the animal husbandry industry, particularly the pork and poultry sectors,” he said.
“The good news is that some of our industries have already been ‘opened,’ and some sectors have experience in dealing with challenges.”
For instance, he elaborated, the country has already eliminated tariffs for cars imported from ASEAN countries since January this year, an opportunity to gain experience that can be applied to when the sector opens to other CPTPP countries in the next seven years.
As for the husbandry industry, Thai said relevant agencies and sectors have been preparing to take on the challenges, adding that difficulties do not necessarily result in bad outcomes.
Milk cows are seen at a farm of a Vietnamese dairy producer. Photo: Tuoi Tre
Vietnam has entered free trade agreements with Australia and New Zealand, which once sparked fear that the country’s dairy sector would be unable to compete with these two giant milk makers.
“The reality is that Vietnam’s dairy producers have been proactively working to strengthen themselves and keep their products competitive,” he said.
“In conclusion, with good preparation and a proper roadmap, we hope that Vietnamese sectors will all be able to weather challenges that may come with the CPTPP.”
The deal may be sealed as soon as this week or next.
Southeast Asia’s biggest ride-hailing firm, Grab, is in advanced negotiations to buy parts of Uber Technologies Inc’s business in the region, said a source with knowledge of the talks, in what would be Uber’s second retreat from an Asian market.
Ride-hailing firms have raised billions of dollars to help compete in Southeast Asia where they have been forced into losses partly due to hefty incentives to drivers and discounts to riders.
Grab has a dominant position in several markets in the region of about 640 million people, while Uber has also been expanding. The U.S. ride-hailing firm announced a partnership with Singapore’s top taxi operator ComfortDelgro in December.
“Grab is much bigger in Southeast Asia and they understand the local market much better,” said Xiaofeng Wang, analyst at consultancy Forrester.
A multi-billion dollar funding of Uber in January by SoftBank Group, already one of Grab’s main investors, had opened up the possibility of a consolidation with Grab.
“Uber has to be more focused on those markets where it is doing quite well and have more advantages – like Europe and U.S.,” Wang said.
Singapore-headquartered Grab’s potential agreement with Uber would be similar to the one struck in China in 2016, when Didi Chuxing bought out Uber’s China business and gave a stake in return, said the source, who declined to be identified as the talks are private.
As part of the Southeast Asia deal, Uber will get a stake in Grab, said the source, who declined to provide financial details.
Grab and Uber declined to comment on the Reuters story.
Though Uber expects to lose money in Southeast Asia, the company will continue to invest aggressively in the region, Uber CEO Dara Khosrowshahi said during a visit to India last month.
Grab operates private car, motorcycle, taxi and carpooling services across eight countries with more than 2.3 million drivers. It has expanded into digital payment services.
The company, which has an estimated valuation of about $6 billion, counts sovereign wealth fund China Investment Corp, venture capital firm GGV Capital, and Vertex Ventures, a subsidiary of Singapore state investor Temasek Holdings, among its investors.
Bloomberg reported on Thursday that Grab was close to finalizing a deal to acquire Uber’s business in certain markets in Southeast Asia and may sign a deal this week or next, citing people familiar with the matter.
At springtime, Hanoi is filled with the iconic pure white “sua” flowers, to the delight of Hanoians.
In March, the capital is stepping into the early blooming season of “sua” flowers.
Hanoians are joyfully sinking in the romantic and charming scenes of blossoming white “sua” flowers.
The milk-white flowers are part of the childhood memories of every local.
White “sua” flowers are in bloom in various streets of Hanoi such as Phan Dinh Phung St., Hoang Hoa Tham St., Giang Vo St., Phan Chu Trinh St.,… The little flowers make the boisterous Hanoi become astonishingly peaceful and mild.
This special flower possesses the great attraction for art-lovers, especially photographers.
Flower lovers usually jump at the chance to take photos as “snow-white” flowers bloom only once a year.
Vietnam and Poland will perform in the curtain-raiser of the 2018 Danang International Fireworks Festival on the central city’s Han River on April 30.
Director of the city’s Culture and Sports Department, Huynh Van Hung made the announcement at a press conference yesterday, stressing that the event has helped the city become a rendezvous for international friends and a ‘must see’ destination in central Vietnam.
“The city has successfully built its brand as a ‘fireworks festival city’ since the first edition in 2008. The event, the country’s biggest fireworks competition, was promoted as a festival in 2017 with double the number of teams – from four in 2008 to eight in 2017,” Hùng said.
“We hope the festival will promote Đà Nẵng as a top destination and event site in Asia.”
France and the US will be the second performers on May 26.
Defending champions Italy and Hong Kong (China) will perform on June 2, while Sweden and Portugal will light up the night of June 9.
The two best teams will be selected for the final on June 30, where the winner of the festival will be chosen.
Bursting in air: Fireworks lauch in the sky over the Han River in Danang. Eight teams will compete in the festival in 2018.
According to director of the festival, Do Thanh Hai, the festival, entitled ‘the Legend of Bridges”, will see teams showing off the beauty of bridges, featuring the culture of each country.
“The fireworks performances will be based on the image of bridges that participating teams bring to the event. It depicts culture, people, history and landscape from eight countries and territories,” Hải said.
“The five performances of the festival will introduce topics of Love, Time, Happiness, Aspiration and Friendship. Meanwhile, cultural activities will take place during the two-month long festival including carnivals, flashmobs, music performances and cuisine,” he said.
General director of Sun Group, the festival organiser, Dang Minh Truong said the festival will begin a series of cultural events of the year, and promote summer holidays in the beach city.
Trưong hoped that the festival will soon join in the International Festival Forum-UNESCO, and Danang would become a top global tourist destination.
Last year, Italy’s Martarello team won the title after a spectacular night performance on the Han River.
It was the third time an Italian team won the contest, with the Parente team winning in 2011 and 2012.
In 2013, the US team Melrose Pyrotechnics took first spot. Canada’s Davis Whysall took the top prize in 2008, while China’s Liuyang Dancing won in 2009. France’s Jacques Couturier Organisation won in 2010.
According to organiers, the event attracted more than 1.3 million tourists visiting the city during the fireworks festival between April and June last year.
Last year the city hosted 6.7 million tourists, with 2.3 million foreigners.
To mark the International Women’s Day (March 8), global professional services firm PwC surveyed over 3,600 professional women aged 28-40 to learn of their career development experiences and aspirations.
The survey included respondents from 27 industry sectors and over 60 countries.
The report, entitled “Time to talk: What has to change for women at work”, reveals that women are confident, ambitious, and ready for what’s next, but many do not trust what their employers are telling them about career development and promotion or what helps or hurts their career.
Although CEOs recognise the importance of being transparent about their diversity and inclusion programmes to build trust, the message is not universal and strong enough.
45 per cent of women believe an employee’s diversity status (gender, ethnicity, age, sexual preference) can be a barrier to career progression in their organisation, and only 51 per cent of women agree that employers are doing enough to progress gender diversity.
This means offering staff a clear understanding of the expectations on both sides of the employment equation, including information about career progression and success, and open conversations with employees on where they stand and what is expected of them to advance.
“Women are confident, ambitious, and actively pursuing their career goals. Leaders should focus on creating an environment where women—and men—can have open conversations where there is clarity on what it takes to progress,” said Bob Moritz, global chairman of PwC.
“This will benefit everyone and will lead to better overall results. It must go hand-in-hand with efforts to mitigate any unconscious biases and gender stereotypes that have traditionally impacted career success and progression in workplaces around the world.”
The survey shows that more women are recognising the need for and the power of advocating for themselves, with over half actively pursuing and negotiating for promotions, pay raises, and the career enhancing experiences so critical for advancement.
Of the 41 per cent of women who have been promoted in the past two years, 63 per cent negotiated for the promotion.
Sharmila Karve, PwC’s global diversity leader, said, “It is really encouraging to see that more and more women are speaking up and proactively going after their career goals. Organisations can do a lot to help women progress and reach leadership positions.”
Almost all surveyed women said working in a job they enjoy (97 per cent) and having flexibility to balance the demands of their career and personal/family life (95 per cent) was important to them.
Getting to the top of their career is important to 75 per cent of women, while 82 per cent are confident in their ability to fulfill their career aspirations.
However, women feel nervous about the impact starting a family might have on their career (42 per cent) and 48 per cent of new mothers felt overlooked for promotions and special projects upon their return to work.
Meanwhile, 38 per cent of all women in the survey feel that taking advantage of work-life balance and flexibility programmes has negative career consequences at their workplace. There is a clear concern over what women see as a motherhood and flexibility penalty.
The report puts forward three essential elements that leaders must focus on to help women advance in their career: transparency and trust, strategic support and life, family care and work.
“Creating gender diversity throughout the workplace is one of the biggest challenges for business leaders. Yet it is vital to helping organisations drive innovation and gain competitive advantages,” Brittany Chong, partner and Diversity and Inclusion leader at PwC Vietnam, commented.
“Vietnam has made impressive progress on gender equality, with high participation of women in the labour force. However, since traditional gender roles still pose a big barrier to many women when balancing their personal and career priorities, there is a need for continuous progress.”
The Ministry of Justice has opposed to a new regulation by the Ministry of Transport which bans taxi firms from offering car-sharing services.
In last June, the Ministry of Transport ordered Uber and Grab Taxi to stop their car-sharing services as it was not in accordance with the law. However, the service is still widely used since it can help passengers save up to 40% of the original fare.
It also helps reduce the number of cars on the streets.
The representative of the Ministry of Justice said that banning car-sharing was unreasonable. “It’s also hindering taxi firms from saving costs by transporting multiple unrelated passengers on the same route.”
The Ministry of Justice sent an official document to the Ministry of Transport in last August, stating that the road traffic law does not ban car-sharing. Banning car-sharing services therefore restrict the rights to make contracts and is unconstitutional.
The Ministry of Justice also wants to reconsider another regulation from the Ministry of Transport which bans transportation firms from picking up passengers on a regular basis at their offices or any other location that is not approved by the local people’s committee.
According to the Ministry of Justice, this regulation failed to clarify its intended purpose and will prevent agencies and firms from hiring third parties to carry their employees. The Ministry of Transport was asked to review all regulations and revise and remove those that are no longer suitable.
