Waves of objections against Vietcombank's service fee riseIn early March, Vietcombank officially announced adjusting its service fee, especially fees for online bank transactions. Many Vietcombank customers threatened to switch to other banks if the service fee changesWith over 10 million individual clients, Commercial Bank for Foreign Trade of Vietnam (Vietcombank) ran into great objections from the public, who grouped up on social networking sites like Facebook and online forums to protest the bank’s latest alteration of service fees. The bank’s representative noted the new service fee would come along with countless benefits, such as new service options and partnerships with hundreds of goods and commodity providers which could in turn reduce online transaction times. Specifically, the bank’s service fee modification revolved around electronic banking transactions, such as internet and mobile banking, due to the rapidly growing number of online transfers. He further added that the bank’s service fee adjustment should result in stronger account security as well as less “savings-vanishing” incidents like the recent case at Eximbank.

Wood industry sets $10 billion export value targetBesides the certain achievements of wood industry last years, and new opportunities coming from Law on Forestry and free trade agreements, there are various difficulties and challenges this industry has to overcome to reach the target set forth. Wood and wood products are a key export segment in VietnamIn 2017, the export value of lumber and forestry products was $8 billion, while the domestic sales was $1.47 billion. Wood and wood products became the sixth-ranking export item of Vietnam, capturing 6 per cent of the global market share. Vietnam ranks fifth over the world in terms of wood and wood products exports, as well as second in Asia, and the first in the ASEAN. It set the total product value target of $11.49 billion in 2019, with the export value of wood and wood products at $10 billion.

Blow for food safety in VietnamVietNamNet Bridge – Food enterprises can now declare their products safe and hygienic, without having to apply for any official certification. Food enterprises can now declare their products safe and hygienic, without having to apply for any official certification.— Photo vtc.vnDecree 15/2018/NĐ-CP was put into effect last month; with the food safety change one of the most significant parts of the decree. Under the decree, organisations and individuals producing and selling food will announce their product’s safety on multi-media, websites or at their offices themselves, instead of applying for food safety and hygiene certificates like before. Another problem, Hau said, was that the food safety and hygiene certificate dictated that the enterprise had to take responsibility for their own products. Vu Tien Loc, chairman of the Viet Nam Chamber of Commerce and Industry, said the medical sector’s certificates for food enterprises could not cover all of the enterprises’ work.

This consequence is directly related to Vietnam’s past development strategy, when the mining industry still occupied an important position. Previously, at the initial stage of development, the extraction of natural resources such as oil, coal and minerals played a central role in the economy. Overexploiting natural resources without efficient resource allocation will lead to the so-called “curse of natural resources”, meaning that the more natural resources a country has, the worse it performs. However, green growth could be more a slogan than a distinctive policy if the Government, firms and consumers do not take action now. First of all, the mindset on growth and natural resource use needs to change.

PV Power starts trading shares on UPCoMFollowing the successful initial public offering (IPO) in January, PetroVietnam Power Corporation (PV Power), the second largest state-run electricity producer in Vietnam, started trading its shares on the Unlisted Public Company Market (UPCoM) on March 6. PetroVietnam Power Corporation (PV Power), the second largest state-run electricity producer in Vietnam, starts to list its shares on the Unlisted Public Company Market (UPCoM) on March 6. According to Nguyen Tuan Anh, a representative from the Hanoi Stock Exchange (HNX), with such a large volume of registered trading shares, PV Power has increased the capitalisation of the UPCoM to 252 trillion VND (11 billion USD). PV Power General Director Nguyen Xuan Hoa said that his company will continue to sell 28.882 percent of its shares to strategic investors. PV Power was founded in 2007 and fully-owned by the Vietnam National Oil and Gas Group (PetroVietnam).

Foreign farmers pour investments in Da LatVietNamNet Bridgew - Da Lat, the ‘city of thousands of pine trees’, located 1,500 meters above sea level on Langbian Plateau, has attracted agriculture investors from Japan, Singapore and South Korea who are growing vegetables, flowers and strawberries. Da Lat has attracted foreign agriculture investorsIn a glasshouse where carnations are grown, Takahiro Nunome, or Taka as called by locals, of Japan, guides Vietnamese farmers on how to prune flowers. In mid-2016, Taka, 35, left Japan and arrived in Da Nhim commune in Lac Duong district, about 30 kilometers from Da Lat City, to grow flowers. Taka said Da Lat and Lac Duong have wonderful climate for year-round flower and veggie cultivation. A farmer from South Korea, Son Sang-hyeon, 41, is running a farm in Da Nhim commune where he grows Korean strawberries.

Student condos abandoned with no solutions for alternative useVietNamNet Bridge – While a student condominium project has been halted due to a capital shortage, plans to give it a second life as a social housing complex have run aground due to the failure of Hanoi authorities and the Ministry of Construction to compromise. A view of the Phap Van – Tu Hiep student complex in Hoang Mai District. — Photo baodauthau.vnThe Phap Van – Tu Hiep student complex in Hoang Mai District comprises six 19-floor condos named A1 to A6. According to the department’s data, the demand for social housing in Hanoi remains high. In 2009, when the Phap Van – Tu Hiep student condo project was announced, some 15,000 university students applied for accommodation.

Aviation authority orders evaluation of security work at airportsThe Civil Aviation Authority of Vietnam (CAAV) has requested the Airports Corporation of Vietnam (ACV) conduct evaluation of security work at all airports nationwide following a recent incident when a man boarded a plane without a boarding pass at Vinh international airport. The man was escorted off the plane by security staff. The CAAV said the incident posed a serious threat to aviation security and safety, even though it had not caused any serious consequence. The security technical infrastructure for security work also showed limitations. The deputy director in charge of security matters of Vinh Airport received a written warning over the case.

Northern region to brace cold snapA cold snap has been forecasted to hit the northern region and the northern central region March 8 with the lowest temperature of below 12 degrees in mountainous areas. A cold snap has been forecasted to hit the northern region on the northern central region March 8According to the National Centre for Hydro-meteorological Forecasting, many localities in the northern region are experiencing hot weather with temperatures measured between 30 to 37.5 degrees centigrade. Hanoi saw temperatures of 30 degrees centigrade on March 4. The cold snap is forecasted to end on March 10 and several days after that the northern region will see cold weather at night. Between March 8-10, Hanoi will have the temperature of 15-17 degrees centigrade.

Kovalevskaya award recipient helps prevent Duchenne muscular dystrophyA gene therapy for Duchenne muscular dystrophy (DMD) study by Assoc. Prof. Dr Tran Van Khanh, which supports prenatal diagnosis of DMD to prevent genetic disorders, has earned the scientist the Kovalevskaya Award 201​7. Prof. Dr Tran Van Khanh, winner of the Kovalevskaya Award 201​7. She has attained several achievements in research on gene therapy and prenatal diagnosis of genetic diseases. To date, her genetic therapy has been carried out on 1,000 patients and their family members that helps detect healthy people carrying the genetic diseases.

VNR proposes project to build automatic barrier crossingsVietNamNet Bridge – Viet Nam Railways (VNR) has proposed a project to the Ministry of Transport to repair and upgrade 100 level crossings on the North-South railway route. At least 100 railroad crossings will be upgraded to automatic barrier crossings. – VNA/VNS Photo Viet HungVNR plans to upgrade the current crossings to automatic barriers at a cost of VND170 billion (US$7.5 million), the online Vietnamplus newspaper reported. VNR said the project is expected to be complete this year if it is approved by the ministry. The upgradation aims to ensure safety at long-standing train accident hotspots at level crossings, said VNR.

Vietnam beer market one of the hottest in the worldVietNamNet Bridge - Euromonitor, in its latest report, commented that Vietnam will be the next major battlefield for brewers. Vietnamese drink beer to celebrate a victory, to make acquaintances and to show apologies to friends. They drink beer everywhere, in both luxury restaurants and pavement beer shops. Vietnamese drink beer to celebrate a victory, to make acquaintances and to show apologies to friends. They drink beer everywhere, in both luxury restaurants and pavement beer shops.

Airport fined VND40m for security lapseVietNamNet Bridge – The Vinh International Airport in central Nghe An Province will be fined VND40 million (US$1,800) after a man without a boarding card was caught boarding a flight. The Vinh International Airport in central Nghe An Province will be fined VND40 million for security lapse. Accordingly, the deputy head-in-charge of the airport’s security received a written warning for his/her poor management capability and direct supervision, whilst the airport was fined for the malpractice, the online zing.vn reported. The aviation authority’s assessment indicated that the incident did not result in serious consequences but severely affected aviation security. The aviation authority plans to carry a full review of the airport security programmes at airports nation-wide to implement effective solutions.

Asian gold medalist Huyen retires from competitionVietNamNet Bridge – Vietnam’s Asian gold medalist, Nguyen Thi Huyen has decided to retire from competition to have a baby. Nguyen Thi Huyen. — Photo vnecdn.netThe 24-year-old runner and hurdler from the northern province of Nam Dinh won a gold medal in the 2017 Asian Athletics Championships in the women’s 400m hurdle. She also won a total of six gold medals in the Southeast Asian (SEA) Games in the 400m, 400m hurdle and 400m relay. Huyen was the country’s top medal hopeful at the upcoming Asian Games (ASIAD) in August.

While building the town, Nghia Lo needs to roll out both a master plan and specific planning schemes of residents, embankments and roads, the legislator noted. At the working session, Nghia Lo leaders proposed the legislature soon ratify the plan on administrative expansion for Nghia Lo in order to turn the town into a centre of culture, services and tourism of Yen Bai’s western region and a third-tier urban area. Nghia Lo also proposed the NA and the Government invest in the section connecting National Highway 32 in Nghia Lo with the Noi Bai-Lao Cai Highway the IC 14 intersection. On this occasion, Hien presented 20 gifts to local poor families affected by flooding in 2017 in Ban Cong commune, Tram Tau district, and Nghia Lo town. He stressed the significance of the workshop and hoped the event make practical contributions to the protection of national security, social order and safety.