Cashless economy is coming

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“A non-cash society is coming to Vietnam,” Chairman of Alibaba Jack Ma told the Vietnam E- Payment Forum (VEPF) held on November 6 in Hanoi with the main topic “Mobile Payments”.

He said that 54 per cent of Vietnam’s population use mobile phones but they use both mobile payments and cash.

He also fully agrees with Prime Minister Nguyen Xuan Phuc about mobile payments: financial inclusion will help reduce corruption.

Mr. Tran Cong Quynh Lan, Deputy General Director of the Vietnam Joint Stock Commercial Bank for Trade and Industry (Vietinbank), said that mobile payments will bring a new revolution to Vietnam regarding payment methods and be accompanied by many benefits. “The operations of commercial banks, however, remain inconsistent,” he said.

Commercial banks, he added, must cooperate together to ensure advantages are provided to customers and mobile payments increase.

Mr. Ma noted that, in the past, Alibaba did not have many relationships with banks but he told his colleagues that they should start to do so right now. “We believe that within ten years we will succeed,” he said.

Talking about AliPay, Alibaba’s mobile payment service provider and a prominent example for the forum, Mr. Ma said that 14 years ago, when he got the idea for AliPay, many people told him that it would be impossible because Chinese people are too fond of cash payments.

He also spoke of policies to support small and medium-sized enterprises (SMEs). Success, he said, must bring people together and all young people must be given opportunities. Only 20 per cent of enterprises in the global economy are large enterprises, while the remaining 80 per cent are SMEs. The focus should therefore be on providing them with proper support.

Member of the Government Advisory Group, Vu Viet Ngoan, asked Mr. Ma whether there is space for SMEs and startups given the dominance of leading tech companies. “We do not dominate the market but support local businesses,” Mr. Ma said. This is a great way to help small businesses grow in the local market and reach out to the outside world, especially in areas where they want to do business. “We do not compete; we support you,” he said.

The forum attracted nearly 700 representatives of the business community, mostly bankers, financiers, tech companies, online payment providers, and startups.

Jack Ma is a Chinese business magnate who is the Founder and Executive Chairman of Alibaba Group, a conglomerate of internet-based businesses.

He is one of richest men in China and in Asia, with a net worth of $47.5 billion. He has become a global icon in business and entrepreneurship, one of the world’s most influential businessmen, and a philanthropist known for expounding his business philosophy. He was ranked second on the Fortune 2017 “World’s 50 Greatest Leaders” list.

He is one of the world’s most powerful people and been a global inspiration to many, giving numerous lectures and advice throughout his life and career.

Source: VN Economic Times

​Vietnamese rapper releases MV on Apple Music

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Well-known Vietnamese rapper Suboi released her latest music video exclusively on Apple Music last Friday.

“Nguoi Ta Hieu” (They Understand) is the first music video from her new mini album “2.7.”

Apple Music is currently displaying a banner introducing “2.7,” marking Suboi the first Vietnamese artist to have a banner featured on Apple’s music and video streaming service.

“Nguoi Ta Hieu” will be released on Suboi’s official YouTube channel on November 10.

In addition, a remake of her 2012 hit “Loi Thinh Cau” (I Pray), which is also on “2.7,” is currently on the “Best of the Week” playlist, a weekly collection of popular songs from all over the world curated by Apple Music.

“2.7,” a jazz and hip hop collaboration between Suboi and Norwegian jazz band Mino & The Band, is expected to be promoted all over Southeast Asia.

After her debut album was released seven years ago, Suboi called this mini album a comeback “full of improvisation.”

According to the rapper, this is a time for her to “appreciate the past, focus on the present and enjoy the freedom of being an artist making music.”

The album cover, which is a joint-production by the rapper herself and locally based design agency Rice-Creative, focuses on the contrasting images of Suboi through a daily life picture sourced from her personal Instagram account.

In explaining the album’s title, Suboi said it relates to the number 27.

“2017 is the 100th anniversary of jazz and jazz is the father of hip hop – the music genre that I have pursued,” she said.

“27 is also my age this year,” the singer added, saying she decided to call the album “2.7” as a gift to her listeners.

Suboi, whose real name is Hang Lam Trang Anh, raps in both Vietnamese and English.

She often says that American rapper Eminem is her inspiration.

Easily one of the most famous female rappers in Vietnam, she was dubbed “Vietnam’s Queen of Hip-Hop” by The Daily Beast, and “her country’s Queen Latifah” by The Wall Street Journal in 2015.

Also that year, she performed at the Center for Asian American Media festival, known as CAAMfest in San Francisco, and the South by Southwest festival in Texas.

Last year, she made headlines after she rapped for former U.S. President Barack Obama when he met with young people in Ho Chi Minh City during his visit to Vietnam in May 2016.

Source: Tuoi Tre News

 

 

 

‘We Mean Business’: Vietnam lures int’l investors at APEC business summit

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The first Vietnam Business Summit (VBS), held in parallel with the 2017 Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Week, opened on Tuesday in the central city of Da Nang.

VBS is an initiative of the Vietnam Chamber of Commerce and Industry (VCCI), and is attended by Vietnamese government leaders and officials, representatives from prestigious international organizations, scholars and hundreds of business influencers from across the Asia-Pacific region.

Themed “Vietnam: We Mean Business,” VBS creates an opportunity for domestic and global businesses to meet, connect and exchange information on world trade and integration with Vietnam as well as other APEC member economies.

Vietnam’s Prime Minister Nguyen Xuan Phuc, Vice President of East Asia and the Pacific for the World Bank Victoria Kwakwa, and Philipp Rösler, managing director of the World Economic Forum, are among the attendees.

The summit is expected to feature six sessions, covering issues including sustainable agriculture, healthcare and education, infrastructure, small- and medium-sized enterprises, startups and special economic zones.

In his remarks, Prime Minister Phuc said the VBS, held during the ongoing APEC Economic Leaders’ Week 2017, will bring about “clear, comprehensive visions for the economy and favorable development policies for Vietnam.”

“At the same time [it will] open up vast opportunities for successful investment and business links with Vietnam, a fast-growing nation with great development potential that is pursuing extensive renovation and an open-door policy.”

The Vietnamese head of government briefed the summit delegates on Vietnam’s active integration with the global trade community, having signed and participated in 12 free trade agreements and negotiating four separate pacts.

“We strongly believe that the success of enterprises is at the core of the success of every economy, and the success of each member economy contributes to the prosperity of our APEC community,” PM Phuc concluded.

In his keynote speech, the World Economic Forum managing director Rösler said that the right policies and proper legal frameworks are key factors in boosting Vietnam’s labor capacity and productivity.

Rösler also underlined that the biggest asset of Vietnam is not oil infrastructure, but its young people, who are a key factor in attracting further foreign investment.

Source: Tuoi Tre News

Paradise leaks laid bare how Apple avoids tax

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Apple shifted much of its offshore wealth from Ireland to a tax haven in the British Isles, according a review of leaked Paradise Papers documents Monday.

Apple confirmed the move in an online post, saying it served to “ensure that tax obligations and payments to the U.S. were not reduced.”

After the U.S. technology colossus stated publicly in 2013 that it was paying its proper share of taxes, it moved the bulk of its untaxed overseas cash to Jersey, a British dependency in the Channel Islands, various media organizations reported based on the once-secret cache of documents known as the Paradise Papers.

The documents shared with some media outlets by the U.S.-based International Consortium of Investigative Journalists has exposed tactics the wealthy and powerful have used to avoid taxes.

In its lengthy post, Apple said it moved profits to Jersey while making corporate changes to adapt to Irish tax laws tightening in 2015.

“Apple’s subsidiary, which holds overseas cash, became resident in the U.K. Crown dependency of Jersey, specifically to ensure that tax obligations and payments to the U.S. were not reduced,” Apple said.

Since then, all of Apple’s Irish operations have been conducted through Irish resident companies, paying a statutory 12.5 percent tax, according to the California-based technology titan.

“Since then, Apple has paid billions of dollars in U.S. tax on the investment income of this subsidiary,” Apple said.

“There was no tax benefit for Apple from this change and, importantly, this did not reduce Apple’s tax payments or tax liability in any country.”

Apple’s lengthy written response did not specifically address what taxes, if any, were paid on the original profits channeled to Jersey.

The world’s most valuable company noted that it has earmarked $36 billion to cover deferred U.S. taxes.

Prior to 2014, Apple had taken advantage of tax rules to route overseas revenue through Irish subsidiaries to minimize taxes.

As Apple came under pressure in the U.S. and Europe about what was called the “double Irish” scheme, it enlisted offshore finance law firm Appleby to find a new place to stash cash out of the reach of tax collectors, reports said.

Who to pay?

Apple settled on Jersey, which had a tax rate of zero for foreign companies.

Emails cited in reports indicated Apple wanted the arrangement kept secret.

In its post, Apple insisted it is the world’s biggest taxpayer, paying more than $35 billion in corporate income taxes during the past three years, plus billions more in taxes on property, payrolls, sales and value-added tax, or VAT.

“The debate over Apple’s taxes is not about how much we owe but where we owe it,” Apple said.

“Under the current international tax system, profits are taxed based on where the value is created.”

Apple maintained that the “vast majority of the value in our products is indisputably created in the United States,” the home to design, development engineering and more for the company.

Apple said that its effective global tax rate is 24.6 percent.

The company currently faces an EU demand for some $14.5 billion in taxes based on a ruling that its tax structure in Ireland amounted to illegal state aid.

Appleby was cited as the source of much of the leaked financial data that has resulted in searing revelations in recent days.

Tax tug-of-war

Apple said that reforming the international tax system to make it simpler is “essential” and needed to “remove the current tug of war between countries over tax payments.”

“We understand that some would like to change the tax system so multinationals’ taxes are spread differently across the countries where they operate, and we know that reasonable people can have different views about how this should work in the future,” Apple said.

“At Apple we follow the laws, and if the system changes, we will comply.”

Paradise Papers documents also show details of offshore deals involving Queen Elizabeth II, the U.S. commerce secretary, a fundraiser for Canada’s prime minister and others.

Source: AFP | Glenn Chapman

Secret to success is failure: Alibaba founder Jack Ma tells Vietnamese students

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‘We have to learn why people fail. If you learn from mistakes, you’ll be stronger, more realistic.’

Chairman of Chinese e-commerce giant Alibaba Jack Ma spoke to 3,000 students in Hanoi on Monday afternoon with the aim of inspiring entrepreneurship among young people.

Having landed in Vietnam at the weekend, Ma said while walking on the street in the evening, he was “inspired because there are so many young people in this country.”

“They smile, they are energetic, they play all kinds of games,” he told the audience at the Vietnam National Convention Center. “I wonder why people in Vietnam are so happy. One reason, you’re young,” he said, responding to the questions posed to him in English.

Sharing his recipe for success, Ma said: “Lots of people today learn from success. To succeed, there’re lots of reasons. To fail, there’re just a few. We have to learn why people fail. We study failures and try to avoid them. You learn from mistakes, not because you can avoid them, but because you learn what you will be when you experience mistakes.”

“I heard there’re some books about me in Vietnam that are very popular. I don’t read them because in the future I want to write a book about myself, something like Alibaba’s 1001 Mistakes,” he said. “If you learn from mistakes, you’ll be stronger, more realistic. You see all the mistakes, the failures, and you still want to fight for the future.”

“It is not the success but the moment I failed that shaped me. This makes us even stronger.”

‘Never give up’

Asked about his record of being rejected, Ma said it might have been his destiny to build the Alibaba empire.

“When I was rejected, I felt sad. I couldn’t tell my parents. Then I thought God didn’t want me to join a company; he wanted me to build a company myself,” he said in response to a question from the moderator.

“There’s no option, no chance, that’s why today I spend a lot of time with young people and students and tell them that how I got through. Go back home, sleep, tomorrow, try again.

“There’s no choice. Let me tell you, 80 percent of people in this world have the same thing. If Jack Ma today wasn’t CEO of Alibaba, like nobody, nobody would read my story. Because we founded Alibaba, people see you’re good. [But] we’re the same.

“The only thing I do is never give up; most people give up. If you give up, no chance. If you don’t give up, you still have a chance.”

Spirit of camaraderie

To Ma, teamwork is something he prizes above all else.

“When my company was small, I asked my colleagues. When my company got bigger, I asked my colleagues. Today when my company is much bigger, I ask my colleagues. This is teamwork,” he said in response to another question from the audience.

“When I have problems, I ask my team. I never hide anything. Everything I know, I share with my team. And I hope if my team have problem, they will ask me. We discuss openly and frankly.

“Today is different. Our size last year was almost as big as the number 31 [largest] country in the world. When it’s so big, there’s no place I can learn so I read books, travel around the world, meet leaders, businessmen, artists, talk to them, listen to them and share with my team.

“Nobody is superman. It’s not you who makes the team succeed, it’s the team that makes you succeed. When I have problem, I think, share it with my team. If I can’t figure it out, I go to sleep, wake up the next morning and ask my team again

“Over the past 18 years, I’ve never thought of committing suicide [when faced with failures]. There’s always a way out, always a solution for the future and tomorrow. You may not have it, but you have to find it out with the team.”

Earlier on Monday, the world’s most inspirational billionaire, according to Fortune’s 2017 “World’s Greatest Leaders” index, spoke at the Vietnam E-Payment Forum of his experiences in e-ecommerce and mobile payment, and how lessons from China can be applied in Vietnam.

“Like it or not, the world is moving to a non cash payment era,” Ma said. “When society is a cashless society, everything is digitalized, everything is transparent. No one can run away.”

On starting your own business, Ma said: “The first thing is not the money. It’s the idea, the thing that others can’t do. You have a good idea, money will come, good results will come.”

“When you want to become an entreprenuer think about what you will sacrifice,” he added.

At a meeting with Prime Minister Nguyen Xuan Phuc this morning, Jack Ma said he will consider establishing a store for Vietnam on Alibaba’s e-commerce app.

Source: Staff Reporters

iPhone X offered at record-high price of VND70 million

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iPhone X brought to Vietnam across border gates are being offered at record-high prices.

iPhone X officially hit the market on November 3 with the retail price of $999 for 64GB version. However, Vietnamese users cannot buy genuine iPhone X from Apple Authorized Resellers at this moment. They can only buy iPhone X from private shops which are carried to Vietnam via different ways.

The private shops began taking orders many days ago. Vietnamese dealers will fly to regional countries, especially Singapore, and buy iPhone X from authorized resellers there, and then carry products to Vietnam to sell for profit.

In Singapore, the 64GB version has the selling price of 1,648 SGD, or VND27.5 million, while the 256GB is sold at 1,888 SGD, or VND31.5 million.

In Hong Kong, the prices are higher. A 64GB iPhone X is priced at 17,700 HKD, or VND51 million, while a 256GB is 22,200 HKD, or VND64.6 million.

In Vietnam, private shops have different retail price levels. The 30-40 million price levels have been set for 64GB and VND35-50 million for 256GB versions in Vietnam. The same price has been set for Space Grey and Silver.

The owner of a mobile phone shop in Hanoi said the iPhone X price is influenced by many factors.

The first is the launch time. The first iPhone X to be available in Vietnam will be very expensive. He predicted that private shop owners will have to pay a lot to bring iPhone X to Vietnam, because they have to hire people to queue up at AAR to buy products and pay for tickets to fly to Singapore. Sources say individuals can buy only two products each.

The shops’ prestige and post-sale services will also affect iPhone X prices. Petty traders will refuse to provide post-sale services and deny responsibility if products have problems.

As the iPhone X supply has a shortage, the shop owner predicted that only dozens of products would be available in Hanoi on the first day, and the price would be up to VND70 million. Later, when the number of iPhone X brought to Vietnam from the US increases, the prices will go down.

The Gioi Di Dong, the largest mobile phone distribution chain in Vietnam, has decided to pay back deposits to clients because it is not sure if the iPhone X will be available in Vietnam in 2017.

Zing.vn estimates that in the US, some users spend money equal to one-week salary to own an iPhone, while some Vietnamese spend 6-month salary.

Source: Buu Dien

Bon Café attracts guests via language exchange

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Bon Café on Nguyen Cong Tru Street in District 1, HCMC is growing crowded as local youths and foreign expatriates come to the coffee shop every Thursday night for a language exchange event.

At Bon, guests can meet and talk with those from different cultures around the world while sipping a cup of coffee or tea on a Thursday night from 7 p.m. to 10 p.m.

The café is divided into several corners, with each table having with a national flag representing a foreign language, such as English, French, German, Korean, Japanese, Chinese, Spanish or Vietnamese. Customers can feel free to sit down at any table for a conservation with people there.

Speaking to The Saigon Times Daily, Phan Binh Tu Anh, a 24-year-old girl who is a member of the event management board, says the activity was launched more than a year ago by a French teacher to create a venue for local and foreign guests to improve their foreign language skills, get a better understanding of foreign cultures, and find new friends.

“As an alumnus of the International University under the Vietnam National University in HCMC, I have grappled with a slew of difficulties in communicating in English and looking for opportunities to practice my spoken English with native speakers. I hope the event would help connect students of foreign languages with foreigners,” Anh says.

Charles, a 28-year-old Frenchman and a frequent guest of the event, says he is filled with joy to partake in the event where he can share stories about his daily life in HCMC with young Vietnamese people and is proud of introducing French culture and lifestyles to other participants.

Due to limited seats, those interested should drop by the café early to secure a seat. Guests pay no entrance fee for the event.

Bon Café is located at 152 Nguyen Cong Tru Street, Nguyen Thai Binh Ward, District 1, HCMC.

Charles (L), a 28-year-old Frenchman, talks with young Vietnamese people at a language exchange event last Thursday night

Each table has a national flag representing a foreign language. In this photo, young people are seen at a table with the Union Jack, the national flag of the UK

The event captures the attention of local and foreign guests

Kaoru (C), a 39-year-old Japanese who works in HCMC, says he always comes to the café every Thursday night to enjoy the bustling atmosphere

Source: SGT

Dialogue with Jack Ma on e-commerce, mobile payment and suggestions for Vietnam

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Truong Gia Binh, chairman of Vietnam’s leading technology firm FPT, talks with Jack Ma about his experience of building his Chinese e-ecommerce giant Alibaba at the Vietnam E-Payment Forum 2017.

The dialogue focuses on e-ecommerce and mobile payment, and how lessons from China can be applied in Vietnam.

On fintech

“We need banks to develop but the banks need us even more,” said Ma. “You like it or you don’t like it, the world is moving to a non cash payment era.”

Ma explained that when banks and fintech work together, customers, government, all of us “are happy” and e-payment will be successful.

“Security is the most important thing that an internet financial institution must have,” Ma added.

The billionaire went on to explain how, unlike popular myth, cash is not a safe means of transaction when corruption is rampant.

“When society is cashless society, everything is digitalized, everything is transparent,” he said. “No one can run away.”

On startup

“The first thing is not the money. It’s the idea, the thing that others can’t do. You have good idea, money will come, good result will come.”

Ma said one shouldn’t expect banks to lend them money when they have just started a business, suggesting to turn to parents and friends first.

“Don’t think too big, start with something small, and you love it,” said Ma, reassuring that during the digital age “eletronic money will help you.”

Alibaba chairman’s final piece of advice to aspiring entrepreneurs is “when you want to become an entreprenuer think about what you will sacrifice.”

***

Now in its third year, the annual Vietnam E-Payment Forum (VEPF), co-hosted by VnExpress and the National Payment Corporation of Vietnam, provides an opportunity for the government, experts and businesses to sit down together and discuss the latest trends in e-payment services and the best ways to apply them in Vietnam.

The Vietnamese government aims for cash to account for just 10 percent of total payments made in 2020, Deputy Prime Minister Vuong Dinh Hue said at the opening of the forum.

“I believe mobile payment will soon boom and become common in Vietnam, just like we’ve achieved with mobile phones over a decade ago,” said Hue.

At a meeting with Prime Minister Nguyen Xuan Phuc this morning, Jack Ma said he will consider establishing a store for Vietnam on Alibaba’s e-commerce app.

Later today, Jack Ma, the world’s most inspirational billionaire according to Fortune’s 2017 “World’s Greatest Leaders” index, will speak with 3,000 students to inspire entrepreneurship among young people.

The following day, he will will join world leaders at the Asia Pacific Economic Cooperation (APEC) Summit in Da Nang.

The six-day summit opened this morning in the central Vietnamese city of Da Nang, with world leaders including U.S. President Donald Trump, China’s Xi Jinping and Russia’s Vladimir Putin expected to attend.

Source: VnExpress

Vietnam wins Miss Globe for the first time

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Do Tran Khanh Ngan has been crowned Miss Globe 2017 in Tirana, the capital of Albania, becoming the first-ever Vietnamese to win an international beauty pageant.

“I burst into happiness when the host declared that the crown went to Miss Viet Nam. I would like to send my thanks to the local media and audience, who have followed my journey and supported me,” said Ngan on Saturday.

Other winners were Miss Philippines, Nelda Ibe, 1st runner-up; Miss Serbia, Elena Latypova, 2nd runner-up; Miss Albania, Alessia Coku, 3rd runner-up; and Miss Cape Verde, Simone Heijligers, the 4th runner-up.

Ngan will have the opportunity to visit famous destinations in Albania and appear on Albania’s national television programmes with the four runners up.

Khanh Ngan will have the opportunity to visit famous destinations in Albania and appear on Albania’s national television programs with the four runners up before she returns to Viet Nam on November 8th.— Photo kenh14.vn

After being crowned Miss Tourism Viet Nam 2017 in March, the 23-year-old Ngân spent seven months practising her catwalk, make up, English and performance skills with international and local experts, to prepare for the beauty pageant in Albania.

Although this was the first time Ngan attended an international beauty pageant, she impressed the judges with her catwalk and communication skills. During the competition, she was among the top 3 most voted participants.


After the Miss Globe 2017 pageant, Ngan will compete in the Miss Tourism World 2018. — Photo kenh14.vn

Born in 1994 in the southern province of Dong Nai, Ngan was named among the top 20 in the Miss Viet Nam 2014, and entered the final round of the Miss Universe Viet Nam 2015 pageant. She was also one of four finalists in last year’s The Face Vietnam season 1, a popular modeling-themed reality television series and part of the international The Face franchise.

Miss Globe 2017 attracted 53 contestants from throughout the world. The pageant was first held in 1974, and regarded as one of the eight largest beauty pageants in the world.

Source: VNS

McDonald’s to open first restaurant in Hanoi

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The world’s leading food service retailer, McDonald’s, is set to open its first restaurant in Hanoi.

The information was revealed by an officer of Good Day Hospitality Joint Stock Company, McDonald’s developmental licensee for Vietnam.

However, the date for the opening of this first restaurant in Hanoi was not disclosed.

Launched in Vietnam in February 2014, McDonald’s Vietnam currently has 16 restaurants, all in Ho Chi Minh City.

The plan to expand its operation to Hanoi was prepared by Good Day Hospitality in early 2016, after its annual growth rate was doubled from 2014. However, till date, there are no McDonald’s restaurants in Hanoi or northern provinces.

At a recent human resources conference, Good Day Hospitality’s general director Nguyen Bao Hoang reiterated that his company is recruiting many talented young people to realise the expansion plan. Hoàng also confirmed that McDonald’s Vietnam will expand to the capital city and the northern markets in the future.

The building on No 2 Hang Bai Street, Hoan Kiem district, expected to be the location of the first McDonald’s restaurant in Hanoi, has an area of 697sq.m and is located in the centre of the city, near Returned Sword Lake.
McDonald’s offers unique experiences for Vietnamese consumers, such as drive-thru parking, 24-hour operation and a McCafé professional coffee shop located right inside the restaurant.

Source: VNA

​Animals Asia director calls on Vietnamese city to end buffalo fight festival

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Daniel Neale, animal welfare director at Animals Asia, has penned an open letter to authorities in a northern Vietnamese city to call for the abolishment of buffalo fights held yearly in one of its districts as part of a long-standing tradition.

The decades-old Do Son Buffalo Fighting Festival is an annual spectacle, held on the ninth day of the eighth month in the lunar calendar, where thousands of locals in Hai Phong City’s Do Son District gather around a giant ring to cheer water buffalo as they are made to fight one another until a single contender is crowned the year’s champion.

In his letter addressed to Hai Phong chairman Nguyen Van Tung, Neale expressed his concerns over the welfare of buffalo pitched against each other during the festival, as well as the community’s safety at the event.

In July, a man was gored to death by his own buffalo that he had brought to the 28th edition of the festival.

During the 2007 festival, a 73-year-old referee was seriously injured from a slam by one of the participating buffalo, Neale recounted in his letter.

A man is thrown into the air by his own buffalo during the qualifying round of the 2017 Do Son Buffalo Fighting Festival in Hai Phong City, July 1, 2017. Photo: Tuoi Tre

In his letter, Neale cited how fighter buffalo are fed bagasse, beer, vitamin supplements, bear bile, ginseng and python fat to increase their aggressiveness and stamina for the festival.

The animals are also trained in harsh conditions for long periods of time prior to the event without regard for their suffering, he added.

According to the animal rights activist, all aspects of the festival, from the method of training the buffalo to fight to the way they are slaughtered for meat after the event, are no longer compatible with Vietnam’s vision of developing a civilized and modern culture.

This vision, he wrote, seeks to promote humanity and good traditional cultural values, while eliminating evil and outdated customs.

Neale called for the administration of Hai Phong to work with Animals Asia to put an end to the festival out of concern for the safety of the community and respect for the law.

Two buffalo engage in a fight at the 2017 Do Son Buffalo Fighting Festival in Hai Phong City, July 1, 2017. Photo: Tuoi Tre

In related news, Animals Asia on Saturday held a debate in Hanoi on maintaining ceremonial sacrifices in festivals as a way of conserving traditions.

Most youths and animal welfare workers who attended the event agreed that fests involving the abuse of animals should be terminated to fit with the development of a modern and civilized society.

Buffalo are slaughtered for meat after a fighting festival in Vietnam. Photo: Tuoi Tre

Source: Tuoi Tre News

 

 

Philippines stock retreats into red from record high; Vietnam jumps

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Philippine shares retreated from a record high scaled earlier on Friday to close 1.6 percent lower as investors locked in profits from three straight sessions of gains, while Vietnam reversed earlier losses to close higher.

Industrials and financial stocks led the losses on the Philippine index, reducing its weekly gain to nearly 1 percent.

Conglomerate JG Summit dropped 3.8 percent while Bank of the Philippine Islands lost 4.2 percent.

“During the biggest part of the trading session investors were quite optimistic anticipating better-than-expected third-quarter results for some of the big companies,” said Lexter Azurin, an analyst with Manila-based AB Capital Securities.

Companies such as Ayala Corp, SM Investments and JG Summit are scheduled to report quarterly results later this month.

“But I guess some investors were seeing mixed reactions given that current valuations (of the index movers) are quite rich at this point so we’re seeing a lot of investors starting to take profits,” said Azurin.

Vietnamese shares pared earlier losses to close 1.3 percent higher.

Industrials and financial stocks accounted for the gains on the index, with builder FLC Faros Construction and Vietcombank rising 6.9 percent and 2 percent, respectively.

Singapore ended marginally higher, with gains in telecom stocks offsetting losses in consumer stocks.

“Traders are being more cautious today, heading into the weekend… the STI may turn range-bound these few days,” said Liu Jinshu, director of research at NRA Capital.

Telco Singtel was the top gainer on the city-state’s index while Thai Beverage lost 1 percent and led the decliners.

The index has dropped 0.1 percent this week, its first weekly loss in five.

Indonesian shares also closed marginally higher, with the index gaining 1.1 percent on the week, its best in twelve.

Malaysian shares ended flat, resulting in the index’s fifth weekly drop in seven.

Source: Tuoi Tre News

Young Vietnamese students: Facebook, bubble tea, and no physical exercise

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In fact, most Vietnamese college students have a tight weekly schedule at school, so the need for a good rest prevails

A large proportion of young people in Vietnam are living a sedentary lifestyle as they spend more time surfing the internet, playing online games, working on computers, or simply just sitting down doing nothing.

After class, Nguyen Hoang Ha, an undergrad at Bach Khoa University in Ho Chi Minh City, would simply go back home for dinner, lesson revision, movies, and sleep.

He does not do sports even in his spare hours.

“I once signed up at a gym, but after working out several times, I lost my motivation. The thing is I also had to get up too early in the morning for class, so I quit.”

In fact, most Vietnamese college students have a tight weekly schedule at school, so the need for a good rest prevails: they would love to put up their feet at home, in the dorm, or at a bubble tea house.

Few take time to do exercise as they attribute little importance to this habit.

Vovinam is a popular sport in Vietnam. Photo: Vovinam Club, Ho Chi Minh City University of Law

In her idle time, Nguyen Thi Huynh Nhu, a student from the University of Science in Ho Chi Minh City, tends to review her lessons, surf her Facebook newsfeed, or enjoy herself over movies or books.

She has, however, recently realized the adversity such a lifestyle is inflicting upon her: she finds it hard to think straight and stay focused on work, and her health is suffering.

She is considering taking up badminton as a way to boost her general constitution.

There are many reasons for such a passive way of life.

A large number of college students living far away from home are under pressure from school and work: they have to fare well academically while striving hard to earn a living.

Therefore, they have no time left for sports activities.

Others recoil at the thought of jogging, swimming or volleyball, saying they would rather save energy and thus go for passive forms of entertainment.

For better academic performance

A third-year student at the University of Social Sciences and Humanity in Ho Chi Minh City, Huynh Thanh Doan still seeks time for jogging despite his busy school work.

Ho Chi Minh City offers varied sports activities for young people. Photo: TERRY FOX RUN 2016

He spends merely 30 minutes a day for the activity, but this is enough for him to clearly sense a boost in stamina.

“I used to feel a wreck after school, but now my health has improved a lot,” he said. “I also feel mentally refreshed and better ready for productive learning sessions.”

Insufficient physical activities lead to common problems like stress, shoulder, neck, or joint pains, which both depletes health and breeds laziness.

To university students living far from home, their daily food intakes are already lacking in nutrition. Therefore, doing exercise and having balanced diets are essential if they are to study effectively.

Kungfu master Vo Nhat Son, who has a B.A. in educational management and a specialist in Vovinam, a traditional form of Vietnamese martial arts, notices the distraction caused by technology in young people’s lives. He says they prefer computer games to sports.

“Internet and game bars are packed like sardines all day and night,” he said. “Young people basically do not have an adequate awareness of good health.”

The Vovinam master also notices how lots of young people fail in their attempts to work out physically, saying poor health prevents efficiency at work.

“I hope the students will spend time for sports, martial arts, and physical activities in general,” he further commented. “I look forward to a day when the younger generations can tell for themselves what is vital for their future.”

Sports activities available at the present time are not appealing enough, but students are totally capable of taking it out on their own by balancing their schedules and work.

Mai Toan Thinh, a lecturer at the Ho Chi Minh City University of Sports, advises that students opt for suitable sports, considering their own hobbies, abilities, budget, and time.

“There are easy sports to do, such as jogging, cycling, swimming, and soccer. There is simple, home-based exercise for shoulders, chests, backs, bellies, and legs as well. Making a habit out of sports will get you in shape,” he added.

“A healthy mind in a healthy body is definitely the best policy,” the lecturer concluded.

Source: Tuoi Tre News

Asia-Pacific leaders kick off key economic summit in central Vietnam

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U.S. President Donald Trump will arrive on Friday and deliver a speech at the CEO Summit, according to the White House.

Leaders from the 21 Asia-Pacific Economic Cooperation (APEC) nations are gathering in Vietnam’s central city of Da Nang for the start of a key regional summit, with speeches expected from Donald Trump and Xi Jinping.

APEC Leaders’ Week opened on Monday and is scheduled to welcome between 12,000-14,000 delegates. Thousands of businesspeople will be attending, including Facebook’s COO Sheryl Sandberg, UPS’s CEO David Abney, and Chairman and CEO of J.P. Morgan Asia Pacific Nicolas Aguzin.

Vietnam’s President Tran Dai Quang will host the opening of the APEC CEO Summit on Wednesday and the APEC Economic Leaders’ Meeting on Saturday.

U.S. President Donald Trump will travel to Da Nang on Friday and will deliver a speech at the CEO Summit, presenting the United States’ vision for a free and open Indo-Pacific region and underscoring the important role the region plays in advancing America’s economic prosperity, the White House said in a statement last week.

Japan’s President Shinzo Abe and China’s Xi Jinping will also deliver speeches on Friday while the Philippines’ Rodrigo Duterte will speak on Thursday, according to the schedule.

The remaining 11 members of the Trans-Pacific Partnership agreement are also expected to make a final announcement on the fate of the trade deal this week. The deal had been viewed as the world’s largest until Trump nixed it soon after his inauguration in January, using the argument of job protection for people in the U.S.

This year’s APEC, themed “Creating New Dynamism, Fostering a Shared Future”, is discussing sustainable growth, deepening economic ties, increasing competitiveness of small businesses and enhancing food security in times of climate change.

Around 2,000 journalists from Vietnam and overseas have registered for the high-profile event, which is being hosted by Vietnam for the second time.

Da Nang has stationed nearly 3,000 crime, fire and traffic police to ensure security at the event.

Source: Phuong Vu

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