Local paper firms face losing out to foreign businessesA capital shortage for local paper manufacturers could make them lose out to foreign direct investment (FDI) enterprises in their own country, according to experts. Capital shortage has been a headache for local paper manufacturersCurrently, paper demand in the world in general and China in particular is huge. However, domestic paper firms have not fully taken the opportunities as most of the Chinese market share belongs to FDI companies. In May 2018, Tan Mai Group in Dong Nai province began developing new pulp and paper plants, including the Tan Mai – Kon Tum Pulp & Paper Plant, worth 1.3 trillion VND. Instead, local paper manufacturers should restructure and build large and modern factories to compete with FDI firms, he said.
August 21, 2018 08:48 UTC
ASIAD 2018: shooter Hoang Xuan Vinh fails in forte categoryVietnamese marksman Hoang Xuan Vinh has been knocked out of the 10m air pistol event at the ongoing Asian Games (ASIAD) 2018 in Indonesia on August 21. Vietnamese marksman Hoang Xuan VinhVinh finished ninth, getting only 579 points, not enough to qualify for the final of the event, which features the top eight shooters. Vietnam won two more medals on August 20 at ASIAD 2018, raising its total to four, 16th in the medal tally of 10pm of August 20. Weightlifter Thach Kim Tuan bagged silver in the men’s 56kg event, while swimmer Nguyen Huy Hoang won bronze in the men’s 800m freestyle event. The ASIAD 2018 opened in Jakarta on August 18 evening with the theme “Energy of Asia”.
August 21, 2018 08:26 UTC
VN should carefully consider ODA loans: ministryVietNamNet Bridge – Vietnam has been advised to carefully consider whether to borrow from Official Development Assistance (ODA) loans in the future. For example, some ODA loans could have requirements of technologies and selected contractors, causing the actual borrowing cost to be higher than competitive bidding, the ministry said. The ministry also named ODA projects that had investment capital increasing a lot compared to initial estimates. The ministry said ODA loans and preferential loans should only account for about 30-50 per cent of the total investment capital for a project. The Government was urged to better use ODA loans for projects to improve infrastructure, develop smart agriculture or boost export activities, the ministry said.
August 21, 2018 08:26 UTC
Weightlfiter Tuan brings home first silver medal in ASIADVietNamNet Bridge – Vietnamese weightlifter Thach Kim Tuan brought home the country’s first silver medal at the Asian Games (ASIAD) yesterday. Om Jun Chol of North Korea took gold medal with 287kg and Indonesian Bin Suwoto Surahmat won bronze medal with 272kg. Sun Yang of China won gold with a time of 7:48.36, while the silver medal went to Japanese Takeda Shogo with a time of 7:53.01. The gold medal belonged to Indonesian Lindswell Kwok with a total score of 19.50 points. The second place earned by Hong Kong athlete Juanita Mok Eun Ying, while the bronze medal secured by the Philippines athlete Chrystenzen Wong Agatha.
August 21, 2018 08:15 UTC
Vietnam officially wins rights to broadcast ASIAD 2018The Vietnam Television Corporation (VTC), a subordinate unit of the Radio Voice of Vietnam (VOV), on August 21 announced that it has earned the right to broadcast all sporting events within the Asian Games (ASIAD) 2018. Vietnam's male football team qualified for the next round after gaining all group matches at ASIAD 2018. On August 20, VOV started the process of purchasing ASIAD broadcasting rights. However, the company owning the rights in Vietnam is located in the US, making it difficult for the two sides to conduct direct discussions until the afternoon of August 20. The ASIAD 2018 has entered the third competing day on August 21.
August 21, 2018 08:15 UTC
Finance companies finding it difficult to attract foreign capitalVietNamNet Bridge - Experts say the legal framework for consumer financing is still not open enough, creating difficulties in attracting foreign capital. Deputy CEO of Ernst & Young Nguyen Thuy Duong said the high consumer credit growth rate in recent years has attracted many regional investors. However, the legal framework is believed to be the major obstacle that makes finance companies find it difficult to lure foreign investors. After the restructuring of the credit institution system in 2011-2015, many finance companies were reshuffled through M&As, which drove the consumer finance sector to healthy development. According to the Credit Information Center (CIC), consumer credit has grown by 36 percent compared with early 2017.
August 21, 2018 05:15 UTC
Through singing, cai luong artists preserve the country’s spirit. She began her professional career when she was 16 after winning a top prize at the Cao Van Lau Cai Luong Voice, a singing contest seeking young talents by Cao Van Lau Cai Luong Theatre. She has turned down many opportunities in the city to work for Cao Van Lau Cai Luong Theatre. Meritorious Artist Ngoc Doi and her colleagues from the Cao Van Lau Cai Luong Theatre often volunteer to perform for people who live in remote areas. — Photo courtesy of Cao Van Lau Cai Luong Theatre“I wanted to develop my career here, my hometown.
August 21, 2018 05:03 UTC
Phu Quoc waste treatment project to be revokedVietNamNet Bridge – Residents in Kien Giang Province have asked Phu Quoc Economic Zone Management Board to take away the licence of a waste treatment centre that is causing headaches for them. Kien Giang Province asks the Phu Quoc Economic Zone Management Board to complete procedures to revoke the project of building a waste treatment plant on the island. The Phu Quoc Waste Treatment Plant was designed to dispose of 200 tonnes of rubbish each day. The province, as well as the district, had considered the Phu Quoc Waste Treatment Plant project a good solution for the garbage crisis on the island. However, delays of the waste treatment plant has seriously affected the work of waste treatment on Phu Quoc as the amount of waste left at the dumping site is on the rise, causing environmental pollution.
August 21, 2018 05:03 UTC
Illegal parking spots spring up in HanoiVietNamNet Bridge – With space limited in downtown Hanoi, parking spaces are at a premium. This was one of the reasons for illegal parking spaces. I think in order to wipe out the illegal lots, the city should build more underground and car parking buildings," he said. Besides the tentative parking lot at Quan Ngua Stadium, Hanoi’s authorities are collaborating with investors to study the feasibility of building parking lots at other municipal areas, reported Tuoi tre (Youth) newspaper. Last year, nearly 500 illegal parking lots in the city were discovered by the Ha Noi Police.
August 21, 2018 04:18 UTC
Vietnam needs a public transaction floor for bad debtsNguyen Tri Hieu, a banking expert, tells Hai Quan (Customs) newspaper that the Government should appoint an agency to develop an official transaction floor for buying and selling debt. However, over the last five years, just 1.4 per cent of the bad debt ratio was reduced. The issuance of Decree 42 has introduced new measures on how to settle bad debt issues legally. To establish a market for buying and selling bad debt, what do we need to pay attention to? At present, VAMC buys bad debts through the issuance of special bonds.
August 21, 2018 04:18 UTC
Remittances to Vietnam expand despite rise in USD priceRemittances to Vietnam have increased despite the rise in USD price against other currencies and the zero interest rate for foreign currency savings, factors experts said would impact remittance flow. In the first seven months of 2018, Ho Chi Minh City received 2.9 billion USD worth of remittances, 20 percent higher than the same period last year. The country’s macro economic and exchange rate stability means remitttances are converted into VND instead of retained in dollars. Banks pay zero interest on the greenback. Meanwhile, a savings interest rate of 7-8 percent in Vietnam means converting remittances into VND and depositing them is still highly profitable, he added.-VNA
August 21, 2018 03:56 UTC
Crazy Rich Asians tops US box office in weekend debutCrazy Rich Asians beat expectations to take the top spot at the US box office on its opening weekend. 'Crazy Rich Asians' is seen as a turning point for Asian representation in Hollywood -- Photo: WARNER BROTHERSThe Warner Brothers film starring Constance Wu and Henry Golding is the first romantic comedy in three years to take the top spot. Since it opened five days ago, the film - which cost $30m (£23.5m) - has made an estimated $34m at the box office. Adapted from Kevin Kwan's bestseller, Crazy Rich Asians tells the story of an Asian-American woman who gets a culture shock meeting her boyfriend's ultra-wealthy family in Singapore. Spacey and Elgort's last film together, 2017's Baby Driver, took more than $20m at the box office in its opening weekend as a comparison.
August 21, 2018 03:33 UTC
Great British Bake Off contestants revealed for 2018This year's Bake Off Contestants -- Photo: CHANNEL 4A techno DJ, research scientist and banker are just three of the contestants vying for this year's Great British Bake Off crown. He likes to bake after a long day at work and says he will be trying lots of experimental techniques in the Bake Off tent. Banker Antony, 30, also grew up in India and learned to bake there with his father. He says he has baked since he was 10 so will be bringing some experience to the Bake Off tent. The new series of The Great British Bake Off, hosted by Noel Fielding and Sandi Toksvig, will begin on Channel 4 on August 28 at 8pm.
August 21, 2018 03:11 UTC
Hue to upgrade famed Dong Ba MarketVietNamNet Bridge – The central province of Thua Thien-Hue is reviewing the operation of the region’s biggest traditional market, Dong Ba, in a scheme to upgrade the trade centre. View of Dong Ba Market at night. The options will be a wholesale market, tourism market, or a mixture of both styles. It is a wholesale market supplying local food and handmade items to neighbouring localities of Quang Binh, Quang Tri and Da Nang. It is one of three famed markets in the country, along with Dong Xuan Market in Hanoi and Ben Thanh Market in HCM City.
August 21, 2018 02:48 UTC
Track and field athletes ready to seek golds at ASIADVietNamNet Bridge – Vietnamese track and field athletes will leave for Indonesia tomorrow, aiming for at least one gold medal at the ongoing 18th Asian Games (ASIAD) 2018. Long jumper Bui Thi Thu Thao is ready to take part in the Asian Games in Indonesia. “After the HCM City event, Thao’s form is stable and she is ready to take part in the Asian event,” said Thao’s coach, Nguyen Manh Hieu. After ASIAD, Thao plans to retire from competition to become a mother. Meanwhile, runner Lan will compete in 200m, 400m, 400m hurdles, 4 x 400m relay of the women’s team and 4 x 400m of the mixed team.
August 21, 2018 02:37 UTC