Vietnam-US defence dialogue takes place in Washington DCDeputy Defence Minister Sen. Lieut. Gen. Nguyen Chi Vinh and Deputy Assistant Secretary of Defence for South and Southeast Asia of the US Dr. Joseph Felter co-chaired the Vietnam-US defence policy dialogue 2017 in Washington D.C on October 17. For his part, Dr. Felter said that the US agrees with Vietnam’s proposals on cooperation in coast guard, military medicine, peacekeeping, and dioxin detoxification. Following the dialogue, general Vinh and Dr. Felter witnessed the signing of a memorandum of understanding between the Vietnam's Institute for Defence Strategy and the US-based Asia-Pacific Centre for Security Studies. Meanwhile Dr. Felter gave Vinh personal belongings of a Vietnamese soldier died during the war with hope that he will bring it to the martyrs’ family.
October 18, 2017 09:56 UTC
Over 170 foreigners to join yacht race to VietnamMore than 170 foreign professional athletes and entrepreneurs will take part in a yacht race from Hong Kong to Vietnam’s Nha Trang City slated for October 18 to 25. According to a document issued by the Government Office, Deputy Prime Minister Vu Duc Dam has approved the international yacht race named Volvo Hong Kong to Vietnam Race 2017. The 673-nautical-mile race will be jointly held by Saigontourist Travel Service Company and the Royal Hong Kong Yacht Club. According to Saigontourist, 14 boats participating in the race will depart from Hong Kong on October 18 and arrive in Nha Trang two days later. Since 2014, the biennial race has been organized to promote sea tourism and investment in Khanh Hoa Province and Vietnam as a whole.
October 18, 2017 09:45 UTC
McDonald's South Korea office raided in burger probe: reportsSouth Korean investigators raided the Seoul office of McDonald’s Corp on Wednesday, following a series of complaints that children fell ill after eating hamburger patties alleged to have been undercooked, Yonhap News Agency and other media said. The Seoul central district prosecutors’ office confiscated some documents and evidence at the office and three other companies, including an ingredient supplier, the reports said. Complaints were also filed by parents of four more children who became sick after eating McDonald’s burgers. At the time, McDonald’s said it was cooperating with an investigation by the South Korean government into the possible food contamination case. Last year, talks to sell McDonald’s South Korean business to domestic firm KG Chemical Corporation collapsed over “a large difference of opinion”.
Indonesian naval ships visit HCM CityTwo Indonesian naval Sigma-class corvette vessels docked at the Ho Chi Minh City international port on October 18, starting a four-day visit to the southern economic hub. Indonesian and Vietnamese officers pose for a photo next to one of the visiting naval ship (Photo: nld.com.vn)Aboard the two ships – KRI Sultan Hasanuddin-366 and KRI Sultan Iskandar Muda-367 – are 181 crew members, led by Lieutenant Colonel Sunmarji Minoaji. The visit aims to boost naval cooperation between the Vietnamese and Indonesian armies as well as the navies in particular, contributing to the two countries’ strategic partnership. While in HCM City, the Indonesian delegation will visit the municipal People’s Committee, as well as High Commands of Military Region 7 and Naval Zone 2. They will also take part in sport activities and exchanges with young Vietnamese naval officers.
Snap and NBCUniversal launch studio to produce shows for SnapchatSnap Inc, parent company of messaging and video app Snapchat, and NBCUniversal launched a joint venture studio on Tuesday to produce scripted shows and other genres to air on Snapchat. NBCUniversal, part of Comcast Corp, made a $500 million investment in Snap as part of the company’s initial public offering in March. Lauren Anderson, previously senior vice president of primetime programming at NBC who oversaw the hit shows “The Office” and “Parks and Recreation,” will be chief content officer of the new studio, the companies said. The companies said NBC Sports will continue a partnership with Snapchat and Buzzfeed to create videos on Discover during the 2018 Winter Olympics in South Korea. The partnership’s previous Snapchat videos during the 2016 Summer Olympics in Rio de Janeiro garnered more than 2 billion views.
Landlords unfazed by higher supplyDespite predictions of falling prices in the buy-to-let housing segments in Hanoi and Ho Chi Minh City due to increased supply, as of now the segment remains one of the most profitable for investors. The report said that Hanoi and Ho Chi Minh City are leading Southeast Asia in real estate leasing yield. The number reached 7.4 per cent in Hanoi and 5.8 per cent in Ho Chi Minh City. The lease for the same unit in the centre of Ho Chi Minh City could be twice as expensive. Duc went on to say that even though housing prices in general are higher in Hanoi than in Ho Chi Minh City, yield is smaller.
October 18, 2017 09:00 UTC
However, experts said that, though gaining some initial achievements, the Japanese giant would find it difficult to squeeze into the petroleum retail market controlled by Vietnamese companies. According to Ban Viet Securities, the typical characteristic of the petroleum distribution sector is that enterprises with large networks of retail points win the competition. Vietnam has 14,000 filling stations in the country, of which 11,000 are run by sales agents and 3,000 owned by general agents or distributors. In the first six months of 2017, Petrolimex opened 36 filling stations. RELATED NEWSJapanese investor jumps into lucrative petrol retail marketHow high is the petroleum consumption in Vietnam?
October 18, 2017 09:00 UTC
Vietnamese model appears on Vogue fashion magazineVietnamese model Phi Phuong Anh has been listed among The Best Street Style from Seoul Fashion Week Spring ’18 on the US’s Vogue fashion magazine. Phi Phuong AnhShe left good impression on spectators when she wore a unique white dress by designer Nguyen Cong Tri, with lace hat, transparent boots and a Gabrielle handbag of Chanel brand. Other Vietnamese model, Huu Anh has also been named among the list. Seoul Fashion Week is taking place in the Republic of Korea (ROK) on October 16-21. Many Vietnamese celebrities including Hoang Ku, Mach Huy, Kye Nguyen, Diem My and Ninh Duong Lan Ngoc join the event.
October 18, 2017 08:26 UTC
Vietnamese universities remain in Asia top 150Vietnam National University, Hanoi has maintained its 139th ranking and Vietnam National University, HCM City climbed five places to 142nd in the QS Asia University Rankings 2018. Vietnam National University, HanoiThis year Asia University Rankings contains 400 universities up on the previous 350. Vietnam National University, Hanoi remained at 139th while Vietnam National University, HCM City jumped from 147th to 142nd. According to QS University Rankings, Vietnam National University, Hanoi was among the top 1.2% of 11,900 educational facilities from 17 Asian countries. Nguyen Huu Duc, deputy director of Vietnam National University, Hanoi, said top Vietnamese universities had met many criteria in Asia's top 400 universities.
October 18, 2017 08:15 UTC
Deputy PM urges equitisation of Vinafood 2Deputy Prime Minister Vuong Dinh Hue, has requested the Ministry of Agriculture and Rural Development (MARD) and the Ministry of Finance (MoF) to carry out the equitisation of Viet Nam Southern Food Corporation (Vinafood 2) in accordance with the approved scheme. By the end of 2016, Vinafood 2’s accumulated loss stood at VND798 billion. — Photo cafef.vnThis is part of the Deputy PM’s written statement on financial supervision of Vinafood 2 that was sent to the two ministries recently. The report will be submitted to the Prime Minister in the first quarter of 2018. By the end of 2016, Vinafood 2’s accumulated loss stood at VND798 billion.
Risks involved in interest cutThe current interest rate levels have been deemed appropriate for the time being, according to experts, and any attempt to further cut rates could impose unnecessary risks to Vietnam’s overall macro-economic stability in the medium term. Risks are weighted as far as downside amid a manageable inflationary environment and calls by the government for a higher credit growth rate of 21-22% for 2017, according to BMI Research, a subsidiary of Fitch Group. “Unfortunately, the drop in interbank rates that resulted from excess liquidity in the banks only drove bond yields lower, not the interest rates banks charge their customers,” he said. “Vietnam’s lending rates are actually not too high compared to regional lending rates. Lending rates, on the other hand, have been adjusted down by 0.5-1%, sitting at 4-5% per year.
Romantic Bollywood blockbuster in HanoiA romantic Bollywood film will be screened for free on Friday in Hanoi to promote Indian culture. A scene from Tanu Weds Manu that will be screened for free in Hanoi. — Photo courtesy of the Indian Culture CentreDirected by Anand L Rai, the film Tanu Weds Manu (2011) was a blockbuster in Indian cinemas. She does not want an arranged marriage with Manu because she is in love with Raja (Jimmy Shergill), a classic love triangle with many twists and turns. The screening will take place at the Indian Cultural Centre, 63 Tran Hung Dao Street, Hanoi at 6pm.
Economy stable, inflation under 4%VietNamNet Bridge – The Government reported yesterday to the National Assembly that the macro economy remains stable, inflation is controlled under 4 per cent, and the annual growth target of 6.7 per cent is likely to be achieved. The Government reported yesterday to the National Assembly that the macro economy remains stable. The session was held to prepare reports for the fourth session of the 14th National Assembly opening on October 23. Based on these achievements, the Government plans to set next year’s growth target of 6.5-6.7 per cent, he added. Trung attributed the achievements mainly to the contribution of the processing industry, notably increased production by major foreign-invested enterprises, such as Samsung.
Reforms fail to halt bureaucratic bloatVietNamNet Bridge – The simplification of Viet Nam’s governance structure over the last decade or so has not resulted in significant changes in policy-making and macro-economic management. To ease this burden, the Government has been encouraging public sector units to manage their own affairs, including finances, and improve the quality of public services. This excess is also true of localities, leading to poor management and responsibility in the public sector, Van said. Economist Pham Chi Lan said the State budget cannot pay for 11 million public staff across the country. She also emphasised the importance of autonomy for public agencies to deal with this situation.
Hanoi to relocate residents living in flooded areasVietNamNet Bridge – Ha Noi will seek funds to relocate hundreds of households living in two communes of Ha Noi’s Chuong My District, the chairman of Ha Noi People’s Committee said. A local in Nam Phuong Tien Commune uses a boat to travel due to the heavy floods. — Photo: VNNOn Monday, chairman of the People’s Committee Nguyen Duc Chung visited Tan Tien and Nam Phuong Tien communes seriously flooded due to heavy rainfall over the past few days. Three schools in Nam Phuong Tien Commune are closed. Local authorities, meanwhile, are continuing to assess and report the losses to the city’s People’s Committee to ensure timely support.