HCM City needs huge capital for flood-prevention programmesVietNamNet Bridge - As the local budget is limited, HCM City authorities have called for investment in 17 anti-flood projects under different investment modes. To date, only three canal dredging projects, three waste water treatment plants and 4,100 kilometers out of 6,000 kilometers of outlets have been built. “We are calling for investment in urban environment and waste water treatment projects under the mode of BLT (build, lease, transfer) and BTL (build, transfer, lease). Meanwhile, attendees at a conference held by the HCM City authorities in mid-August expressed their concern about the efficiency of anti-flood projects. HCM City Vice Mayor Tran Vinh Tuyen said it is necessary to find the exact causes of flooding.
New regulation adjusts limit on foreign investment in educationVietNamNet Bridge - Some limitations on foreign investment in education have been removed with the release of a new decree. As a result, Vietnamese students have to queue for their turn to enter some prestigious foreign-invested schools. Foreign investors complain about the complicated procedures they have to follow when setting up new education establishments, regardless of whether it is a branch of foreign language center or a large university. New regulationThe Decree 86 which took effect in early August lifted the limit on the number of Vietnamese students in foreign-invested education establishments from 10-20 percent to 50 percent. The establishments have to experience two-step procedures – obtaining investment registration licenses and education operation licenses, while other establishments, from nursery schools to universities still have to follow three-step procedures.
Scientists invent icemaker that uses sea waterVietNamNet Bridge - Scientists at the Hi-tech Development Center, an arm of the Vietnam Academy of Science & Technology, in an effort to help fishing boats reduce post-harvesting losses due to the lack of preservation equipment, have invented a machine which can make ice from sea water. The icemaker that uses sea waterThis is the first product researched and built to suit the conditions of fishing boats in Vietnam. Meanwhile, making ice from sea water can help reduce production cost, because fishermen don’t have to carry ice from mainland. The input material water to make ice is 3 percent salt water, or sea water which is pumped into a periodic tank. The volume of water to be pumped depends on the density or temperature of the ice products required.
According to a new report released by the VGCL, the current minimum wage can meet only 93% of the minimum living standard. Meanwhile, as per Resolution 27-NQ-TW issued recently, only two years remain for the wage hike so that by 2020 the region-based minimum wage must meet the minimum living standard. In Vietnam, the minimum wage still cannot meet the minimum living standard of workers despite its fast hikes. In the 2010-2011 period, when inflation was high, the region-based minimum wage could meet only 47% of the minimum living standard of workers. The minimum wage reflects the humanity of the State and is an instrument for rectifying defects of the labor market and ensure the minimum living standard for workers.
August 19, 2018 17:15 UTC
Vietnamese students shine at int’l robotics competitionA group of four Vietnamese students brought home a bronze medal for their impressive robotic design at the “2018 FIRST Global Challenge” international robotics competition in Mexico from August 15-18. Four Vietnamese students brought home a bronze medal at the “2018 FIRST Global Challenge” international robotics competition.Besides the medal, the Vietnamese team attained remarkable achievement when it ranked 12th out of 165 teams joining in the event.Within three completion days, the FPT high-school students gained 6,350 points after eight games in the qualifying round with seven wins. The Vietnamese juniors, who were teamed up with students from Estonia and Eritrea in the playoff, lost to those from the UK, Georgia and Qatar.Head of the Vietnamese delegation Le Ngoc Tuan lauded the Vietnamese students’ efforts to improve their ranking, which was at 58th place out of 175 teams at the previous event organised in the US.FIRST Global Challenge is a non-profit organisation established in 2009 which aims to inspire science and technology leadership and innovation in young people from all nations in order to increase understanding.It invites each country to send a team to compete in the robotics Olympics, which takes place in a different nation each year. Themed around the 14 grand challenges of Engineering identified by National Academies of Engineering, each year a different Grand Challenge takes centre stage in an effort to foster understanding and cooperation among the youth of the world as they use their abilities to solve the world’s problem.The theme for 2018 is “Energy Impact”.-VNA
August 19, 2018 17:03 UTC
ASIAD 2018: Vietnam beats Japan, topping Group DVietnam’s football team secured the top place of Group D at the 2018 Asian Games (ASIAD) after beating Japan 1-0 in the third match in Indonesia on August 19. Vietnamese footballersThe last group stage match between Vietnam and Japan took place at the Wibawa Mukti Stadium in West Java, Indonesia. A lapse in Japan's defense was seized by midfielder Nguyen Quang Hai to put Vietnam ahead right in the third minute. Half an hour into the game, Vietnam has apparently launched more and stronger attacks. Before the match with Japan, Vietnamese midfielder Nguyen Quang Hai said: “We are ready for the game with Japan.
August 19, 2018 11:48 UTC
Vietnam innovation network programme launchedThe Programme of Connecting Vietnam Innovation Network 2018, which gathered hundreds of talented Vietnamese in the fields of science and technology, was launched in Hanoi on August 19. The Programme of Connecting Vietnam Innovation Network 2018 was launched in Hanoi on August 19. The event was jointly held by the Ministry of Planning and Investment, the Ministry of Science and Technology, the Ministry of Foreign Affairs, and the Ministry of Education and Training. Currently, the ministry is working with relevant ministries and sectors to build a national strategy on industry 4.0, which comprises the establishment of innovation centres, and mobilisation of experts and scientists, he said, adding that the innovation network initiative has lured the participation of more than 100 overseas Vietnamese scientists so far. The launching ceremony was followed by a dialogue on connection of science and technology community, and policies on innovation network connection in Vietnam.-VNA
August 19, 2018 11:37 UTC
Vietnamese startups struggle to seek capitalVietNamNet Bridge - Consultants say that even startups with high capability and good business ideas are finding it difficult to call for investment. According to TechInAsia, in 2016, startups in South East Asia attracted total investment capital of $2.6 billion. Sixty percent of startups have initial investment capital of less than VND1 billion, a modest amount of capital. Regarding capital sources for startups, consultants named venture funds, angel investors and private investors. In fact, there are many examples of startups gaining big successes overseas though they could not call for big capital.
August 19, 2018 09:22 UTC
PM pledges support for overseas Vietnamese scientistsPrime Minister Nguyen Xuan Phuc has promised to create favourable conditions for overseas Vietnamese scientists to participate in scientific and technological projects at home so that they can make contributions to the country’s socio-economic development. In a meeting on August 19 with overseas Vietnamese talents in science and technology who came home to attend Vietnam’s innovation network programme from August 18-24, Prime Minister Phuc thanked the scientists for their interest in developing science and technology in the homeland. The Government will focus on cooperation, investment, technology transfer, and human resource training, and continue developing innovation eco-system to ensure that overseas Vietnamese scientists can contribute to the nation’s development, he said. Pledging to accompany the government in the era of industry 4.0, which converges labourers 4.0 and culture 4.0, the scientists said that they want to coordinate with domestic colleagues in specific projects and programmes. More policies should be put in place to lure additional overseas Vietnamese intellects to devote their talent to the country, they said.-VNA
August 19, 2018 08:48 UTC
Rick Marchese - Representative, Alliance of M&A Advisory GlobalThe M&A market in Vietnam is growing very quickly and becoming more mature. M&A transactions are mostly based on the availability of capital in the market, so I think investors will need to become more comfortable with the stock market. Right now, the M&A market is picking up, so we can expect it to go down again one day. This is because the market can go down and when it does, people are tighter with their money and the M&A market will probably slow down. I think Vietnamese companies can also have more access to European consumers, which would be a great development.
August 19, 2018 07:52 UTC
North and central regions grapple with devastating floodsSevere flooding triggered by tropical storm Bebinca has caused extensive loses to life and property in many localities throughout the northern and central regions. Heavy rains and floods also damaged 26 houses, with one collapsing and six others needing to be evacuated. By that time, storm Bebinca had claimed six lives, destroyed 16 houses and damaged many hectares of rice and subsidiary crops in Ky Son district, Central Nghe An province. Heavy downpours from tropical storm Bebinca have added to upstream floodwaters flowing to Central Nghe An province in recent days inundating many mountainous districts of Nghe An. Mountainous districts of Quy Hop, Quy Chau, Tan Ky, Con Cuong, Tuong Duong and Ky Son continue to be beset by heavy rains and flooding.
August 19, 2018 07:30 UTC
Olympic talent shares his passion for physicsNguyen Ngoc Long from the central province of Thanh Hoa is one of the two Vietnamese gold medalists at the 49th International Physics Olympiad (IPhO) held in Lisbon, Portugal in late July. This year, more than 400 students from 90 countries attended the annual international physics competition for high school students. In May 2018, Long also won a gold medal at the Asian Physics Olympiad and first prize at the National Physics Competition 2018. Nguyễn Ngọc Long won a gold medal at the International Physics Olympiad 2018. With the gold medal at IPhO, you will be admitted to the University of Science at home.
August 19, 2018 07:30 UTC
Investors still cannot make profits from hi-tech agriculture productionVietNamNet Bridge - Hi-tech agricultural production requires huge capital and long-term investments, while the risks are high and the policies are not encouraging. Hi-tech agricultural production requires huge capital and long-term investments, while the risks are high and the policies are not encouraging. He went on to say that the entire agriculture production value chain is still small because Vietnam has to spend dollars to import input materials. In principle, the state should encourage investors in the hi-tech agriculture sector by offering incentives. The lack of land fund and land fragmentation has been mentioned recently by analysts when talking about the obstacles to hi-tech agriculture production.
August 19, 2018 06:11 UTC
HCM City condo market begins to recoverCondominiums remain the best bet for people living in big cities thanks to their affordable prices, and not surprisingly the HCM City apartment market is showing signs of recovering after the slowdown caused by the Carina Plaza fire at the beginning of this year, insiders said. Not only the primary market but also the secondary market is witnessing a recovery, which is clearly shown through rising prices. The Ministry of Construction reported that condo prices rose by 1.4% quarter-on-quarter in the second quarter of this year. CBRE Vietnam said in the second quarter, 6,200 condos were sold, down 36% from the previous quarter. The secondary market too saw an uptrend in the second quarter with a 1.7% rise in prices quarter-on-quarter against an average quarterly growth rate of 0.5% over the 2017-18 period, it added.
August 19, 2018 03:22 UTC
Banks going the fintech M&A routeVietnamese fintech companies can expect a raft of foreign financial institutions seeking a relationship with them, as the latter have found this route a promising one to access the underbanked population of the country. “They’re all looking at and studying opportunities for investment in local fintech companies,” Choi confirmed. Since then, local fintech has opened to welcome the next generation of fintech players like Weezi Digital, KIU, Wecash, Enablecode, Instant.vn, and Tradle, who were announced as winners of the recent Fintech Challenge Vietnam competition. Local banks want a piece of them as part of their digital banking strategy growth, evident in the co-operation between these winners and local banks like BIDV, Vietnam International Bank (VIB),TPBank, VietinBank, Vietcom- bank, and VPBank. Foreign banks want to get to know their apps as well and use them to tap into the underbanked population.
August 19, 2018 03:22 UTC