​Ministry wants Facebook, Google to use Vietnamese payment gateway

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Vietnam’s Ministry of Finance wants international service providers like Facebook and Google to process payments made by Vietnamese users via a gateway run by the National Payment Corporation of Vietnam (Napas).

The change is expected to help local tax authorities control revenue made by these services in Vietnam and provide a legal framework for the collection for taxes.

The ministry also wants foreign providers of Internet-related services to open official representative offices in Vietnam and make tax declarations as per Vietnamese law.

In a dispatch sent to the State Bank of Vietnam requesting coordination in implementing the plan, the finance ministry claimed that Google and Facebook were offering online advertising services in Vietnam in two ways.

In the first instance, these and other similar foreign entities do business via local intermediaries in Vietnam, who execute their tax responsibilities on their behalf.

However, the majority of transactions between Vietnamese users and companies like Facebook and Google are made via credit card or digital wallet purchases, which pose a challenge to local tax authorities on the control of revenue that such companies make in Vietnam.

Additionally, local users can find themselves at a disadvantage when legal conflicts arise, as proof of purchase provided by foreign entities may not be recognized or verifiable here.

The ministry therefore suggests that all payments to foreign Internet service providers from Vietnam be made via the Napas gateway to facilitate better tax control.

The companies’ representative offices in Vietnam will also be required to work closely with local authorities in performing their tax responsibilities.

According to the ministry, a similar model of tax control has already been implemented successfully in European countries, India and South Korea.

All relevant bodies must work together to introduce stricter penalties in order to deter any company from deliberately evading tax, the ministry wrote.

Source: Tuoi Tre News

Da Lat-like fog envelopes Ho Chi Minh City

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Ho Chi Minh City commuters were stunned to see streets covered by a fog in the early hours of Wednesday morning.

Following rain in several parts of the southern metropolis overnight, the mist and cool temperatures combined to make conditions similar to those seen regularly in Da Lat.

High-rise buildings in the city’s downtown area could hardly be seen from less than a kilometer away because of the thick fog, and driver’s visibility was significantly reduced.

Le Dinh Quyet, deputy head of the Southern Meteorological Station, said that the foggy weather in Ho Chi Minh City this morning was a normal meteorological event.

“Humidity in the city was intensified due to last night’s rain,” Quyet told Tuoi Tre (Youth) newspaper on Wednesday.

“The high humidity combined with low temperatures in the morning resulted in the fog.”

Quyet said the foggy weather conditions are forecast to continue in the city for the next few days, creating low visibility for drivers.

 

Source: Tuoi Tre News

Typhoon Damrey leaves 150,000 Vietnamese children at risk of malnutrition: UNICEF

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The UN agency blames poor preparation as children suffer the ‘ongoing’ consequences of the disaster.

Around 150,000 children are still at risk of malnutrition in central Vietnam more than a week after the massive Typhoon Damrey struck the region, with relief efforts yet to reach poor remote areas, according to a UNICEF report.

Fishing families in the hardest-hit provinces struggle to make ends meet at the best of times, and some local children have already been diagnosed with malnutrition.

Malnutrition is not only threatening large numbers of children under five years; more than 80,000 pregnant and nursing women in the area are also in need of special care, said the U.N.’s childcare agency.

Typhoon Damrey, one of the worst storms to hit Vietnam in years, made landfall on November 4 with devastating consequences for the central provinces of Khanh Hoa, Phu Yen and Quang Nam, where people rely heavily on rice and fish farming. At least 106 people have died and thousands of houses have been damaged.

UNICEF said its workers have encountered several “vulnerable” children in the region who have had no meat or fish since the storm, while clean drinking water remains in short supply.

The typhoon has also worsened sanitation conditions and increased the risk of waterborne diseases, it said.

For these children, the consequences of the typhoon are “ongoing”, said the agency, blaming a lack of communication about how to prepare for storms at a community level as the reason for the fall-out.

UNICEF said it is helping by providing micronutrients and calorie supplements for children and breastfeeding mothers, and water purification products for families in the affected areas.

Vietnam has been suffering from particularly destructive weather this year. Floods in northern Vietnam killed at least 26 people and washed away hundreds of homes in August before the central region was ravaged repeatedly by storms and flooding. Typhoon Doksuri killed at least eight people in the region in September, followed by flooding that claimed at least 54 lives.

Experts from the International Labor Organization said at a conference in Hanoi in June that frequent and severe natural disasters may force many Vietnamese children into early labor.

They said that without proper protection, many children will give up school to help their families when disasters hit.

Last year, tropical storms and flooding killed 264 people in Vietnam and caused damage worth VND40 trillion ($1.75 billion), nearly five times more than in 2015.

Source: Vi Vu

 

Vietnam secures ticket to Asian Cup Finals in 2019

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This is the first time the Vietnamese football team has qualified for the finals since 2007.

Vietnam has secured a place in the finals of the AFC Asian Cup for the first time since 2007 after sharing a goalless draw with Afghanistan on Tuesday at My Dinh Stadium in Hanoi.

The AFC Asian Cup is an international football tournament run by the Asian Football Confederation (AFC). It is the second oldest continental football championship in the world after the Copa América. The winning team qualifies for the FIFA Confederations Cup.

Afghanistan needed to beat Vietnam to make it to the finals, scheduled for January, 2019 in the United Arab Emirates (UAE), but failed to break the deadlock.

20 of the 24 teams that will be competing at the finals have already been decided, with Vietnam and Thailand the only Southeast Asian representatives.

The other 18 are the UAE, Saudi Arabia, Qatar, Iran, Uzbekistan, Iraq, Syria, Australia, Japan, South Korea, China, Libya, Palestine, Oman, Turkmenistan, Jordan, Bahrain and India.

Vietnam surprised football fans by making it to the quarterfinals of the Asian Cup in 2007, the first year the country had ever made it to the finals of the tournament.

Source: Staff Reporters

Manchester United legend Ryan Giggs to coach Vietnam football academy

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The 13-time Premier League champion will be making two trips per year to Vietnam to train teenage players and their coaches.

Former Manchester United winger Ryan Giggs is set to sign a two-year contract to become the director of a Vietnamese football academy.

The Promotion Fund of Vietnamese Football Talents Football Club, a professional club based in Saigon, has said it will sign a deal with the 43-year-old legend next Monday in celebration of a new branch in northern Vietnam.

The 13-time Premier League champion will be making two trips per year to Vietnam to train the club’s players and coaches. The team, commonly known as PVF, competes in V.League 2, the second tier of Vietnamese football.

Giggs’ role includes “building and developing PVF to become the leading youth football training center in Vietnam,” a statement on the club’s website said.

Giggs said in October he was interested in jobs at Leicester City and Everton, but neither has reached a deal with him.

He was appointed caretaker boss at United in 2014 and became assistant manager to Louis van Gaal. But he has not been involved in top-class football since Van Gaal was replaced by Jose Mourinho in May 2016.

Giggs will travel to Vietnam with former United team-mate Paul Scholes, who is likely to be named a technical advisor.

Source: Thu Ngan

Jardine Cycle buys 5.5 pct stake in Vinamilk for $617 mln

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Shares in Vietnam’s largest listed firm responded to the news on Monday by reaching a record high.

Singapore-listed Jardine Cycle and Carriage Ltd said on Monday that one of its units has agreed to buy a 5.53 percent stake in Vietnamese dairy firm Vinamilk, the country’s biggest listed company, for $616.6 million.

Vinamilk is among a handful of state assets that are attracting significant interest from foreign investors as the government works to reform state-owned enterprises.

Jardine Cycle, part of the diversified Jardine Matheson group, said it bought the shares on the open market and at an auction held by the State Capital Investment Commission of Vietnam (SCIC).

“The taking of this relevant interest in Vinamilk is in line with JC&C group’s strategy of investing in market leading companies in Southeast Asia,” it said in a filing to the Singapore bourse on Monday.

The deal increases Jardine Cycle’s exposure to the Vietnamese economy, and it remains open to making further such investments, it added.

The Ho Chi Minh Stock Exchange said last week that an overseas investor had bought a stake in Vinamilk, but did not reveal the buyer.

Last year, the SCIC offered to sell 9 percent of Vinamilk but sold only 5.4 percent. Investors looking to gain a degree of control over Vinamilk were partly deterred by the size of stake on offer.

Vinamilk shares rose nearly 4 percent on Monday to a record VND181,500.

Source: Reuters

Woman who gave Hanoi 5,000 ounces of gold to fight the French to be given official funeral

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The gold would be worth more than $8 million at current prices, and was used by revolutionists in 1945.

The Hanoi municipal administration will hold an official funeral on Monday afternoon for a woman who donated more than 5,000 ounces of gold to anti-French revolutionists in 1945.

A source from the city’s People’s Committee said Hoang Thi Minh Ho’s funeral will be hosted by top officials from 1.30-3 p.m. at the cemetery house at 5 Tran Nhan Tong Street.

Ho died at home on November 5, aged 104. The gold she donated to the cause would be worth VND183.1 billion (more than $8 million) at today’s prices.

She is entitled to a lot in one of the capital’s cemeteries, but the family has decided to bury her in the neighboring Phu Tho Province.

Vietnam holds official funeral ceremonies for people who have made outstanding achievements in politics, economics, society, literature, art, science, national defense, security, diplomacy and other domains – achievements that are recognized by the country’s First Class Order of Independence title.

Both Ho and her husband Trinh Van Bo, a businessman who died in 1988, received the title. The couple owned a cloth shop in Hanoi which exported to customers in China, Japan, India and even as far away as Switzerland.

The city is also considering naming a small street after Bo in Cau Giay District.

Source: Vo Hai

Vietnam’s ‘Little Paris’ tells tourists to be ‘decent’ and ‘civilized’

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The purchase of undocumented goods and wildlife products in Da Lat is deemed ‘inappropriate’ behavior.

Lam Dong Province, home to the popular highlands resort town of Da Lat, has issued a list of rules for tourists that includes a dress code and shopping guidelines.

The code of etiquette, drawn up by the province’s tourism department, asks visitors to be “civilized, decent and responsible”, Tuoi Tre newspaper reported.

They should wear suitable clothing, respect cultural differences, avoid littering and stealing, and queue in line when they are shopping or buying tickets.

The purchase of undocumented goods and wildlife products is deemed “inappropriate” behavior, the rules state.

Hotels, restaurants and other services are also warned not to overcharge, sell copycat or low quality products, or pester customers.

The code of conduct is based on a national set issued by the tourism ministry in March this year, and will be printed in Vietnamese and English in time for the annual Da Lat Flower Festival in late December.

Lam Dong received around three million visitors in the first half of this year, of which foreign travelers increased 44.3 percent from a year ago to more than 204,400.

The Central Highlands province is best known for Da Lat, which is often dubbed “Little Paris” due to its colonial history.

The mostly quiet and charming town, surrounded by pine trees, flowers and vegetables farms, is famous for its cool climate and has gained in popularity both as a romantic getaway for lovers and an oasis in a country that usually sweats all year round.

But like many places across Vietnam, Da Lat has both benefited and lost out to the recent travel boom.

Its center is covered in garbage on big holidays, when complaints of thefts and rip-offs are not uncommon.

This year, Da Lat has reported multiple cases of local gangsters and racketeering gangs colluding with businesses to scam travelers, usually on strawberry farms or in souvenir shops.

The gangs have reportedly threatened to assault tour guides and drivers from several travel companies who have refused to lure tourists into their traps.

The issue got physical in May when a tourist was beaten after trying to return a product, prompting the government to order immediate measures be taken to protect visitors from these new groups of gangsters.

Source: Tuoi Tre News

Apple Vietnam requests exemption from customs procedures

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Apple Vietnam has proposed the Ministry of Finance (MoF) to remove a series of administrative procedures applied on its imported products, aiming to create advantage for its business activity, according to newswire Vietnamfinance.

MoF has issued its opinion about Apple Vietnam’s proposal. Accordingly, MoF proposed the Ministry of Industry and Trade to remove the regulations to grant import licence for mobile phones, which was stated at Circular

No.18/2014/TT-BTTTT dated November 20, 2013 of the Government on the issuance of licences to import radio transmitters and transceivers, aiming to decrease the time for customs clearance.

Regarding the certificate of conformity, MoF agrees with Apple Vietnam’s proposal to use certifications of conformity accredited by reputable international organisations as the basis to evaluate the quality of Apple Vietnam’s imported products.

Concerning the proposal to be excepted from acquiring an import licence for Apple Vietnam’s Apple Watch products, MoF said that according to Appendix I of the List of radio transmitters and transceivers with import licences.

attached to Circular 18, radio transmitters and transceivers with a frequency band of 9kHz to 400GHz and an output of 60 megawatt (mW) or more are subject to have an import licence accredited by the Ministry of Information and Communications (MoIC).

Thus, according to MoF’s opinion, in case Apple Vietnam proves that its Apple Watch products have an output of less than 60mW, they will not need to acquire an import license from MoIC.

MoF added that MoIC should re-evaluate its purpose and its effectiveness of granting import licences in customs procedures and consider removing this procedure in case it proves unnecessary.

Established in October 2015, Apple Vietnam specialises in distributing Apple products and supplying after-sale services. Setting foot in Vietnam is considered a change in Apple’s business strategy because Vietnam ranks among the less important groups in the tech giant’s business strategy.

Source: VIR

Thang Long Warriors and Cantho Catfish enter VBA final

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Thang Long Warriors and Cantho Catfish have both booked spots in the Viet Nam Basketball Association (VBA) League final.

In the second game of the event’s playoff round held at the Hanoi University of Science and Technology’s Gymnasium yesterday, the Warriors defeated Hanoi Buffaloes 69-58 to enter the final.

Earlier, in the first game, the Warriors also crushed the Buffaloes 82-57.

The match saw outstanding performances by the Warriors’ key players Jaywuan Hill and Justin Young. Hill made his name as the tournament’s best player with 33 points.

Young said after the match that his team played well but they could play better.

It is the first time the Warriors have played in the event, but they proved they aren’t an easy team to beat.
The team, who are guided by experienced coach Lee Tao Dana, aim to earn the event’s title.

Meanwhile, the Catfish also earned a place in the final after beating Saigon Heat 76-68 in the southern province of Can Tho on Saturday.

The Heat brought their slogan “Win or Go home” to the match, while the Catfish supporters shouted “Defend the Homeland”. The fans were given an exciting match.

From the beginning of the game, both two teams worked hard to score points. Sang Đinh shone in the first period after scoring 10 points for the hosts Catfish. While the Heat made a strong impression through performances by David Arnold (five points) and Le Ngoc Tu (four points).

However, with the support of fans on their hometurf, the Catfish led 21-16.

In the second quarter, the Heat bounced back. Pham Duy Hau scored six points in the final minutes to help the Heat lead 33-32. It seemed that the Heat would win this quarter, but suddenly Sang Đinh turned it around with an accurate three-point throw in the dying seconds to end the quarter 35-33 in favour of the Catfish.

The Heat failed to attack effectively in the third period, while the hosts managed to control the game and led 57-48.

In the last quarter, the visiting side made every effort to seek the final win. They narrowed the gap to 72-66 with just a minute left in the match. However, the Catfish showed their might with four points to fix the match at 76-68.

The Warriors and the Catfish will face off in the first final match at Hanoi’s University of Education Gymnasium on November 19.

Source: VNS

New animation movie stirs up patriotism

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A new 20-minute animation on a popular historic legend has gone viral among Vietnamese internet users in the past few days.

The cartoon features the legend of Lac Long Quan (a holy dragon) and Au Co (a fairy bird) and their children (50 boys and 50 girls), who hatched from 100 eggs. The couple together fought various evils to gain peace for the country. Their children then settled down throughout the regions to build and protect the country.

Uploaded to YouTube on November 4, Con Rong Chau Tien (Offspring of Dragon and Fairy), produced by Biti’s footwear company, has been viewed more than 5,250,000 times.

The cartoon was produced by 100 artists under the guidance of director Leo Dinh (Dinh Kieu Anh Tuan) and took 10,000 working hours over 180 days to make.

The team spent two months brainstorming and searching for historical documents with consultancy from historian Duong Trung Quoc.

Then, the team spent four months to animate the cartoon, with the combination of 2D and 3D techniques to create a cartoon of 20 minutes.

The theme song for the animation is Cung Nhau Ta Thap Sang (Together We Shine) composed by Thanh Bui and performed by Bich Ngoc.

“In legends, Dragon and Fairy is the start of Vietnamese people with their core values,” commented historian Quoc, “All peoples want to understand their origins.”

“Con Rong Chau Tien is a folk legend, which has been scored in official historical documents to explain the origin of Vietnamese people and why we formed a nation,” he said.

However, Quoc said that the legend has not been placed in its deserving position in Vietnamese literature and in the heart of Vietnamese people.

He worries that in the next 10 to 20 years there may not be any young people interested in folk legends, which inspired the team to make a cartoon that appeals to the young.

“We have done serious research on the appearance of characters, their costumes and landscapes in the cartoon so that audiences can see vivid moving images,” said director Leo Dinh, “I’m proud to say that this is a cartoon was made totally in Viet Nam with Vietnamese identities.”

“Beside interesting content, the soul of the cartoon lies in images and visual effect,” he said, “Thus, dozens thousands of scenes have been drawn by leading cartoon makers of RedCat Motion.”

“The cartoon is a very special project,” Leo Dinh said, “It challenged us not only technically but also pushed us overcome limits in telling stories with images and techniques we have never used.”

“For simply the image of the pile of 100 eggs, we thought over and over on how to create the eggs, which looks like sparkling light,” said creative director of the cartoon Kieu Thien Van.

Van also said the team encountered some obstacles, including limited historical data and technology when combining 2D and 3D images.

“I think this is the first short cartoon by Vietnamese artists with proper investment and sophisticated implementation, which meets international standards of cartoons in terms of images and moving effects,” noted artist Linh Nguyen.

“I strongly believe not only children but also adults like us want to see such cartoons,” commented Hoang Thu Huong under the cartoon on YouTube.

According to Hung Vo, an official from Biti’s company, who is in charge of the project, the cartoon is the second of its kind in a 20-year-long series of projects makings cartoon from folk literature run by Biti’s company between 2017 and 2037.

He said next year, the company will invest in a bigger project.

“We will co-ordinate with schools and parents to transmit the love for folk culture among children,” he said, “We will bring cultural tales to our footwear products to make children proud of their shoes and Vietnamese tales, so they can step forwards as offspring of dragons and fairies.”

The cartoon is available at: https://www.youtube.com/watch?v=4CI52V3lQTA

Source: VNS

New art spaces a breath of fresh air in HCM City

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HCM City’s visual arts culture in recent years has seen the opening of new contemporary art spaces, including The Factory Contemporary Arts Centre (FCAC), BLANC Art Space and Đông A Gallery.

Other popular venues that opened around 10 years ago included Sàn Art, Doclab, Địa Project, Gallery Quỳnh, Nhà Sàn, and a few others, according to Phụ Nữ (Women) Newspaper.

Though they were successful in showcasing contemporary art, some of these venues had to close because of a lack of visitors.

Venues that have opened in recent years have learned from their counterparts and are doing reasonably well.
The 1,000-sq m Factory Contemporary Arts Centre, which was opened in March 2016 in District 2 by designer Thuỷ Nguyễn, has showcased 14 exhibitions and multiple workshops.

About 50 artists, including Vietnamese and those from Singapore and Hong Kong, have taken part in the exhibitions, attracting 1,000 to 3,000 visitors each.

Popular exhibitions included Mắt Xích (Chain) from artist Lê Hoàng Bích Phượng, Lạc chốn (Dislocate) from Bùi Công Khánh and Nắng bằng phẳng (Flat sunshine) from Lena Bùi.

Others that were successful were Quên lãng nên thơ (Poetic amnesia) from Phan Thảo Nguyên and Lịch sử viễn du: cát trong tai tôi, trôi dạt thế giới (Histoire D’un Voyage: sand in my ears, adrift of the world) from Nguyễn Thuý Hằng.

“The demand for contemporary art is high and artists need a space to introduce their fine pieces. Hence, it’s necessary to create a spot which benefits visitors, artists and organisers,” Thuỷ said.

“Of course, higher quality is expected after each exhibition. Later, artists are required to deliver more creative artworks in order to draw audiences,” she said, adding that the local art industry was developing well.

The BLANC Art Space in District 3, which was also launched last year, stands out, primarily for its project “A new artist every two weeks”.

After the exhibitions Sài Gòn ơi ta trở về (A showcase of Sài Gòn in the 90s) and Sài Gòn 3 mét vuông (Three-square-metre Sài Gòn) were held, BLANC Art Space became a popular destination for locals.

“I revisited my childhood when I saw the Sài Gòn showcase. Life has been so busy and I realised that I’d forgotten most of my childhood games. I was glad that I could recall beautiful memories,” Trường Hải, a visitor, said.
Another great art venue is Đông A Gallery, known for organising multiple meetings between international artists and local audiences.

Đông A Gallery has also extended its business to Hà Nội.

The 4,000-sq m Vincom Centre for Contemporary Art (VCCA), which was launched by Đông A Gallery and Vincom in June, has sparked visitor interests.

VCCA aims to contribute to the development of contemporary art in Việt Nam by bringing art pieces closer to the public and inspiring visitors with its aesthetic environment, said organisers.

Though a “newbie”, VCCA has carefully planned its journey with different themes every season.

The first event of VCCA was Toả (The Foliage) exhibition, which represented a dialogue between the cultures of the East and the West.

More than 19 artists participated in the exhibition, both professionals and amateurs.

The exhibition showcased art pieces of different topics and forms to provide visitors with an overview of what made up contemporary art.

“The new contemporary art spaces, together with the older ones, are expected to contribute to making Việt Nam a more modern, interesting country to visit,” Hải said

Source: VNS

The second ‘Swedish investment wave’ in Vietnam has arrived

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The Swedish businesses coming to Vietnam in the second investment wave are focusing on consumer goods, according to analysts.

Once a month, Pereric Högberg, the Swedish Ambassador to Vietnam, flies from Hanoi to HCM City to attend a meeting with the community of Swedish businesspeople and citizens living in the city.

Högberg also visited HCM City in late October to participate in an important event – the launch ceremony of Volvo’s new models at a 2017 imported car exhibition.

Volvo joined the Vietnamese car market in early 2016. At that time, Högberg said that Volvo was an important milestone in the promising relationship between Sweden and Vietnam.

Two-way trade turnover between the two countries remains modest, but the figure has been increasing steadily, and so has Swedish business interest in Vietnam.

Most recently, Bloomberg reported that IKEA, the furniture retail chain, announced a plan to open shops in Vietnam in the next five years.

Meanwhile, H&M, a fast-fashion brand, will open new shops in Hanoi after opening its first shop in HCM City this year.

Spotify, a startup which provides an app to listen to music on smartphones, is rumored to start in Vietnam soon.

Meanwhile, Ben Thanh Corporation and Savico, the holding company of the importer of Volvo cars, said Volvo truck and bus manufacturers have also suggested cooperation.

“This is the second Swedish wave,” said Högberg.

Swedish capital flowed to Vietnam very early, but was mostly in the industry sector.

The ABB Group set up its factory in Vietnam in 1993 which focuses on four production fields, namely electronics, robots, automation in industries and electricity networks.

There is another Swedish name, which, according to analysts, illustrates Swedish power in Vietnam – Tetra Pak’s packaging products.

The Swedish manufacturer provides packaging products to the nation’s largest dairy producers, including Vinamilk and TH True Milk. A report found that Tetra Pak holds 98 percent of the milk packaging market share.

In early October, Tetra Pak announced investment in a new factory capitalized at $110 million. The figure was even higher than the total Swedish FDI capital as of September 2017 ($100 million, 54 projects).

Meanwhile, Högberg hopes Swedish businesses in healthcare, transport, green production and startups will also appear in Vietnam.

“It is the right time for Sweden to strengthen its business in Vietnam,” Högberg said, adding that he has been impressed by the strong development of Vietnam economy since doi moi (renovation).

Source: VietNamNet

The race to open casinos heats up

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From December 1, 2017, casino businesses will be officially covered by a specific legal framework. Circular 102 of the Ministry of Finance (MOF) that guides the implementation of Decree 03 will take effect on that day.

In 1992, the government of Vietnam was allowed to run casinos to satisfy demand of foreign travelers and expats. Eight casinos have been licensed, including one in Do Son, the first in Vietnam. They have been operating in accordance with Foreign Investment Law and 2005 Investment Law.

Decree 03 says Vietnamese citizens now can be admitted into domestic casinos on a three year trial basis. After that, the government will decide whether or not to continue allowing Vietnamese to go to casinos.

It is still unclear which casinos Vietnamese can enter. MOF on November 3 confirmed that the current regulation only stipulates that Vietnamese have to prove their financial capability to be eligible to enter a casino.

The regulation on allowing Vietnamese to go to casinos is the key factor prompting investors to pour money into casino projects, especially in the SEZs (special economic zones) of Van Don, Phu Quoc and Bac Van Phong.

In Van Don, the Quang Ninh provincial authorities have chosen Sun Group as the investor of a resort with casino. The project, covering an area of 2,500 hectares, has investment capital of $2 billion and investment duration of 50 years.

The local authorities of both Quang Ninh and Kien Giang have asked the government to open the casinos in the SEZs to Vietnamese.

Under the draft law on SEZ being compiled by the Ministry of Planning and Investment (MPI), the casinos in SEZs would enjoy outstanding investment incentives. The luxury tax rate of 10 percent would be applied to casinos for 10 years instead of 30 percent currently.

The Thua Thien-Hue provincial People’s Committee recently asked for government permission to expand Laguna Lang Co and raise investment capital from $875 million to $2 billion. If the expansion is approved, the project would have a casino covering an area of 2.64 hectares.

Of eight casinos licensed so far, six are operational. The eight casinos are allowed to have 408 gambling tables and 4,570 machines. However, they have 134 tables and 995 machines, or just one-third of the permitted number.

Source: Kim Chi

Canada may have withdrawn from TPP, negotiation postponed infinitely following botched Vietnam meeting

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Negotiations on the Trans-Pacific Partnership were put on hold indefinitely on Friday after Canada was believed to have pulled out of the free trade pact unexpectedly.

The news was broken by New Zealand Prime Minister Jacinda Ardern to reporters at the APEC summit in Da Nang, right after a failed meeting.

No final conclusion on the TPP-11 pact had been reached, the official said, adding that she would not reveal the standpoint of any specific country when asked if there was any difference between Vietnam and the other sides.

TPP is a free trade agreement originally involving 12 member states of the Asia-Pacific region, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the U.S. and Vietnam.

It was expected to serve as a counterweight to China’s growing regional dominance.

However, the White House announced the United States’ withdrawal from the deal in January, leaving the remaining 11 members to adopt the new name of TPP-11 to continue negotiations without Washington.

The TPP aims to eliminate tariffs on industrial and farm products across a bloc whose trade totaled $356 billion last year, according to Reuters.

Canada said that they would not engage in the final meeting with the rest, PM Ardern told reporters, noting that she was not saying the country had formally withdrawn from the pact.

Negotiators were scheduled to discuss the terms and conditions of the accord on Friday afternoon, but Canada was understood not to attend the event.

PM Ardern confirmed that the meeting had not happened as planned.

The TPP-11 accord was reported to be finalized in principle on Thursday, when some ministers revealed to Tuoi Tre (Youth) newspaper that they were happy with the negotiation then.

Canadian negotiators decided to pull out of the pact negotiation, which has taken a decade, after Canadian PM Justin Trudeau met privately with his Japanese counterpart Shinzo Abe in Da Nang to discuss one issue, as understood by Tuoi Tre.

The TPP-11 negotiators joined another tense meeting on Thursday until 10:00 pm.

Mexican Secretary of Economy Ildefonso Guajardo walked out of the meeting room and said that all sides had reached in-principle consensus.

François-Philippe Champagne, Canadian Minister of International Trade, smiled but uttered no word.

Steven Ciobo, Australian Minister for Trade and Investment, then proclaimed that they “had a very good meeting.”

Toshimitsu Motegi, Japanese Minister in charge of Economic Revitalization, also said in-principle agreement had been achieved following their meeting.

He added a formal announcement regarding this issue would be made on Friday.

But then François-Philippe Champagne said on Twitter, “Despite reports, there is no agreement in principle on TPP.”

No such an announcement has been issued so far.

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