VPBank warns of fraudulent websites
HÀ NỘI — Việt Nam Prosperity Joint Stock Commercial Bank (VPBank) has warned people not to be fooled by fraudsters sending messages via phone or Facebook with content related to money transferred from abroad. VPBank also informed customers of a number of fraudulent transactions in recent weeks. Previously, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Maritime Commercial Joint Stock Bank (Maritime Bank) also informed customers about the same threats and instructed them on how to conduct safe transactions. It should be noted that banks and credit institutions never require customers to provide their passwords, card information or OTP codes in any case. Customers should not disclose card information or their PINs to others and cover the keyboard when making transactions at ATM/POS and other card payment devices.
Source:Viet Nam News
August 20, 2018 10:07 UTC
Cash moving around, but not to production
Cash moving around, but not to productionVietNamNet Bridge - Investors successfully bought 5-year government bonds at a 3.45 interest rate at a bid organized on July 11 at the Hanoi Stock Exchange (HNX). Also at the trading session, the 10-year and 15-year bonds had interest rates of 4.43 percent and 4.73 percent, respectively. However, analysts warn that cash flow is moving unreasonably, with latent risks for implementation of monetary policies. As the disbursement for public investment has been going slowly, the State Treasury has to deposit undisbursed money at banks. The cash is ‘moving around’ but it doesn’t flow to production and business.
Source:VietNamNet News
August 20, 2018 09:11 UTC
Farmers take losses in tilling rice
Farmers take losses in tilling riceVietNamNet Bridge - Policies supporting rice growers remains ineffective as the production cost remains high. The rice production cost remains highThe Ministry of Finance (MOF) estimates that the production cost of the 2018 summer-autumn rice crop in Mekong Delta is VND3,261-4,985 per kilogram. Also according to MOF, in many provinces, the rice production costs are higher than VND4,000 per kilogram. Other farmers receive support, but they tend to use land for cultivating other crops and fruits which promise higher profits. Chin thinks that Vietnam needs to encourage farmers to export safe high-quality products, because people are getting richer, and have become choosier in selecting rice products to buy.
Source:VietNamNet News
August 20, 2018 05:48 UTC
VN garment companies are selling better abroad
VN garment companies are selling better abroadVietnam’s textile and garment industry is doing well abroad, but struggling at home, according experts. Meanwhile, other foreign fashion brands such as Mango, Stradivarius, Massimo Dutti and Topshop has recently joined Vietnam’s market. However, local textile and garment enterprises need to overcome weaknesses in design, materials and distribution systems, according to Chuong. If they use foreign design and imported materials, Vietnam would never have a developed fashion industry, he said. Le Tien Truong, general director of the Vietnam Textile and Garment Group, suggested the group’s member companies could share their distribution systems and sell products in each other’s stores.-VNS
Source:VietNamNet News
August 20, 2018 03:56 UTC
Low-cost Thai, Indonesian autos flood into Vietnam
Low-cost Thai, Indonesian autos flood into VietnamVietnam imported 1,287 automobiles of different kinds worth 31.3 million USD from August 3-9, 81 percent of them were from Thailand and Indonesia, according to the General Department of Customs. As many as 1,024 have below 9 seats, each worth more than 420 million VND (18,200 USD). In addition, the country bought six vehicles with over 9 seats, 209 trucks and 48 other autos valued at over 12.6 million USD. Businesses imported spare parts and accessories worth 74.3 million USD, up 38 percent week-on-week, predominantly from the Republic of Korea, Japan, China and Thailand. It was also the first month in a year that auto imports, inclusive of spare parts and accessories, surpassed 100 million USD.
Source:VietNamNet News
August 20, 2018 03:33 UTC
VN Central Bank approves project on green bank development
VN Central Bank approves project on green bank developmentThe State Bank of Vietnam (SBV) has recently issued Decision No.1604/QD-NHNN on approving a project on green bank development. The project aims to raise the banks’ awareness and social responsibility for environment protection and climate change prevention, gear capital flows into eco-friendly projects, and promote green production, services and consumption, towards boosting green growth and sustainable development. Accordingly, all banks will strive to issue regulations on environment and social risk control by 2025. At least 10 -12 banks will have specialised units on environment and social risk control while 60 percent of the banks will access loans used for green projects. The SBV will issue guidelines on developing green banks and credit, provide them with incentives such as preferential loans from international organisations and development partners.
Source:VietNamNet News
August 20, 2018 02:26 UTC
HCM City needs huge capital for flood-prevention programmes
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.
Source:VietNamNet News
August 20, 2018 01:52 UTC
Scientists invent icemaker that uses sea water
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.
Source:VietNamNet News
August 20, 2018 01:52 UTC
New regulation adjusts limit on foreign investment in education
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.
Source:VietNamNet News
August 20, 2018 01:52 UTC
Convenience store openings increase steadily
Convenience store openings increase steadilyVietNamNet Bridge - The Vietnamese retail market, which had record-high revenue of $69.45 billion in the first half of the year, is witnessing a rush of convenience store openings. The retail market maintains the growth rate of 10 percent per annumThe retail market has maintained a stable growth rate of 10 percent in recent years, an attractive figure in the eyes of international retailers.The growth rate tends to increase steadily. GS25, a newcomer in Vietnam, plans to open 50 shops in Vietnam this year, mostly in HCMC, before it marches towards Hanoi by early 2020. GS25, a newcomer in Vietnam, plans to open 50 shops in Vietnam this year, mostly in HCMC, before it marches towards Hanoi by early 2020. Saigon Co-op, the largest Vietnamese owner retail chain, recently launched a 24 hour retail service under the brand ‘Cheers’.
Source:VietNamNet News
August 20, 2018 01:52 UTC
Flat feet: Are they a problem?
By Dr. Andres Sosa*Having flat feet means that your feet have low or no arches and press almost completely flat against the ground. Are flat feet a real problem? However, flat feet can sometimes be associated with stiffness or pain in the feet, ankles, legs, knees, hips or lower back. Most people simply inherit flat feet from their parents but occasionally, flat feet can be also the result of:- Feet bones not forming properly in the womb. It is important to understand that these actions won’t change the shape of the feet, but may help relieve some of the symptoms associated with flat feet.
Source:Viet Nam News
August 20, 2018 01:30 UTC
SBV to divert more credits to eco-friendly projects
SBV to divert more credits to eco-friendly projectsThe State Bank of Vietnam (SBV) has issued Decision No.1604/QD-NHNN, approving a scheme on developing green banks in the country by using credit to back eco-friendly projects, with the aim of raising awareness of local banks on the social responsibility in fighting climate change, reported the local media. SBV to divert credit fund to eco-friendly projects. SBV will issue a list of green projects that use clean and renewable energy. In addition, all financial institutions should be able to evaluate the social and environmental risks and should apply environmental standards to green projects that obtain loans from banks. Commercial banks that lend a high proportion of green credit will be given priority when seeking preferential loans from international organizations or from SBV’s partners.
Source:VietNamNet News
August 19, 2018 17:26 UTC
Minimum wages and workers’ life
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.
Source:VietNamNet News
August 19, 2018 17:15 UTC
Vietnamese students shine at int’l robotics competition
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
Source:VietNamNet News
August 19, 2018 17:03 UTC
Blockchain ecosystem support centre launched in HCM City
Blockchain ecosystem support centre launched in HCM CityAll In Station, the first blockchain ecosystem support centre in Vietnam, was officially put into operation on August 18 in Ho Chi Minh City. Linh said blockchains and startups have a lot of potential to grow in Vietnam but they need a proper recognition and connection. AIS aims to connect networks and give policy support the formation of blockchain and startup ecosystems, he noted, adding that AIS's activities were designed to create long-term benefits for its members. AIS is also expected to provide a Startup Portal platform where everyone can find information and evaluations on startup, thus providing objective information for management agencies to build legal frameworks of blockchain, he said. Blockchain is defined as the technology for storing and transmitting information and data by blocks linked together and expanded over time.
Source:VietNamNet News
August 19, 2018 17:02 UTC