Garment becomes second largest foreign currency earner
Garment becomes second largest foreign currency earnerThe textiles and garment industry gained the second-largest export value in the first four months of this year, after the export value of phones and their components, according to the Ministry of Industry and Trade. This accounted for 47.3 percent of the total garment export value. The export value of textiles and garments from Vietnam to Japan reached 855.44 million USD, 19.6 percent higher than the same period last year, accounting for 13.3 percent of the total export value. The export value of textiles and garments to the Republic of Korea stood at 798.6 million USD and 268.95 million USD to China, an increase of 14.8 percent and 40.9 percent, respectively, against the same period in 2017. |Meanwhile, the value rose by 11.8 percent to reach 806.23 million USD worth of exports to the European Union and by 26 percent to 228.36 million USD worth of exports to the ASEAN market compared to the same period last year.
Source:VietNamNet News
May 11, 2018 03:45 UTC
Red-shanked doucs protected by locals in Quang Nam forest
Red-shanked doucs protected by locals in Quang Nam forestVietNamNet Bridge - In 2017, the news about the discovery of red-shanked doucs in Hon Do of Nui Thanh district in Quang Nam province stirred the scientific community. The red shanked douc in Quang NamThey found two groups of red shanked doucs with a total of 16-20. Pham Minh Huan, a forest ranger in Nui Thanh district, reassured reporters that they would be able to see the doucs. They found two groups of red shanked doucs with a total of 16-20. Tran Huu Vy, director of Nuoc Viet Xanh Biodiversity Conservation Center, affirmed that the locals are capable of protecting doucs in Nui Thanh.
Source:VietNamNet News
May 11, 2018 03:33 UTC
High logistics costs engulf Vietnam’s businesses
High logistics costs engulf Vietnam’s businessesVietNamNet Bridge - Logistics fees in Vietnam account for 20.9 percent of the country’s GDP, of which transport costs account for 60 percent, twice as much as developed economies such as Japan (11 percent) and EU countries (10 percent), according to the World Bank. Businesses complain about high logistics costsThe problem is that the transport system cannot be exploited in the best way. According to the Ministry of Transport (MOT), direct costs amount to 60-80 percent of total transportation costs, while indirect costs are 20-40 percent. “The investment on road transport is high because of the high prices of vehicles. It is expected that by 2020, land transport would amount to 54.4 percent of inter-provincial cargo transport, while railways would be 4.3 percent and waterways 32.4 percent.
Source:VietNamNet News
May 11, 2018 03:33 UTC
Mathematician becomes youngest professor at age of 36
Mathematician becomes youngest professor at age of 36VietNamNet Bridge - With the appointment decision by the Director of the Institute of Mathematics, Pham Hoang Hiep, 36, has become the youngest professor in Vietnam and the only mathematician meeting the standards to receive the professorship title in 2017. Pham Hoang Hiep, the youngest professor in VietnamNgo Bao Chau and Vu Ha Van, working and living in the US and France, respectively, were recognized as professors when they were over 30. Seven years ago, Hiep was the youngest associate professor appointed. Phung Ho Hai, head of the Mathematics Institute, said the new position as a manager will affect Hiep’s scientific research performance, but this is a ‘necessary sacrifice’ to settle the problem of successors. RELATED NEWSPM orders probe into professor appointmentsProf Ngo Bao Chau: university management is ineffectiveMai Chi
Source:VietNamNet News
May 11, 2018 03:33 UTC
Vietnam lose to Iran at AFC futsal event
Vietnam lose to Iran at AFC futsal eventVietNamNet Bridge – Vietnam lost to defending champions Iran by five goals to zero in the semi-finals of the AFC Women’s Futsal Championships at Bangkok Arena in Thailand yesterday. Out played: Vietnam vs Iran in the semi-finals of the AFC Women’s Futsal Championships at Bangkok Arena in Thailand yesterday. — AFC PhotoWith better skills and physical strength, Iran controlled the game from the opening minutes. Despite this early goal, Vietnam came out strong searching for an equaliser, but in the ninth minute, striker Shirbeigi doubled the score for Iran. Just four minutes following Shirbeigi’s goal, Iran raised the score to 3-0.
Source:VietNamNet News
May 11, 2018 03:11 UTC
Exhibition extols President Ho Chi Minh
Exhibition extols President Ho Chi MinhAn exhibition of works related to President Ho Chi Minh opened in Hanoi on May 10 as part of events to celebrate the President’s 128th birthday (May 19, 1890 – May 19, 2018). Books on display at the exhibition (Photo: qdnd.vn)Works on display include more than 1,000 publications, books, and newspapers chronicling the life and revolutionary career of President Ho, while highlighting the leading role played by the Communist Party of Vietnam and President Ho in the country’s cause for national liberation, construction and defence. The exhibition is co-hosted by the General Department of Politics under the Vietnam People's Army and the Military Library to help visitors and soldiers develop a deeper understanding of the ideology and career of beloved President Ho, thus encouraging them to follow Uncle Ho’s example. A seminar on President Ho Chi Minh’s thought and the Vietnamese People’s Army was also held on the same day, featuring a presentation by Prof. Dr Hoang Chi Bao, member of the Party Central Committee's Theoretical Council. The exhibition will run until May 15 at the Military Library, 83 Ly Nam De Street, Hoan Kiem district.
Source:VietNamNet News
May 11, 2018 03:11 UTC
KOTRA to move Southeast Asia headquarters to Hanoi
KOTRA to move Southeast Asia headquarters to HanoiThe Korea Trade-Investment Promotion Agency (KOTRA) said on May 10 that it will relocate its Southeast Asia headquarters from Singapore to the Vietnamese capital city of Hanoi to support Korean companies doing businesses in the fast-growing market. According to KOTRA, bilateral trade between Vietnam and the Republic of Korea (RoK) reached 63.9 billion USD in 2017. KOTRA will expand business centres in promising markets to keep up with the changing trade environment, said CEO Kwon Pyung-oh. The agency is currently operating 10 local head offices and 127 business centres in 86 countries around the world. The RoK ranked first among 125 nations and territories pouring capital into Vietnam in 2017, with total registered capital hitting 57.7 billion USD.-VNA
Source:VietNamNet News
May 11, 2018 03:00 UTC
Fee hikes threaten cashless plan
Fee hikes threaten cashless planRecent surges in transactions and withdrawal fees at a number of commercial banks went against the State Bank of Vietnam’s (SBV) initial policy roadmap for a seamlessly cashless society. For the past few months, a number of joint stock banks have continuously increased service charges, including SMS Banking fees, electronic transaction fees and interbank charges. Vietcombank also increased mobile banking charges from VND8,800 to VND11,000 per month since March 1. This is seen as the ceiling price for most banks’ charges, which so far has yet been breached. Nonetheless, commercial banks should focus on other services to offset losses, rather than increasing ATM charges, said Tuan.
Source:VietNamNet News
May 11, 2018 01:52 UTC
Tra fish industry facing dangerous situation, warn experts
Tra fish industry facing dangerous situation, warn expertsThe domestic tra fish industry is facing a boom in the development of production at present, according to experts and enterprises. With such prices, farmers have earned a profit of VND4,000 per kilo from rearing tra fish and VND40,000 per kilo from developing tra fish varieties. Duong Nghia Quoc, chairman of the Viet Nam Tra Fish Association, said the current demand for tra fish is estimated to reach 1.2 million tonnes per year, while demand for tra fish varieties is expected to reach a maximum of 2-2.5 billion units per year. Farmers in many regions, especially in the provinces of Long An and Dong Thap, are promoting the production of tra fish varieties, which would push the tra fish industry into a situation of oversupply, Quoc said. Meanwhile, local tra fish exporters are concerned about how much the US Department of Commerce will increase the anti-dumping tariff in the 14th administrative review for Vietnamese tra fish, he said.
Source:VietNamNet News
May 11, 2018 01:52 UTC
Vietnam determined to reduce number of commercial banks
Vietnam determined to reduce number of commercial banksVietnam will attempt to further reduce the number of commercial banks according to Vice Chairman of the NA Economic Committee, Nguyen Duc Kien. The State Bank of Vietnam took three ailing banks, Ocean Bank, GP Bank and Vietnam Construction Bank into public ownership. Vietnam currently has four state-owned banks and 31 commercial banks. The point is the number of banks must be reduced and bankruptcy and closures are also solutions," he said. Former deputy head of National Financial Supervisory Commission Le Xuan Nghia said many foreign investors showed interests in the local banks but it was not easy to reduce the number of banks.
Source:VietNamNet News
May 11, 2018 01:07 UTC
Draft plan on social insurance reform supported by PCC members
Draft plan on social insurance reform supported by PCC membersThe draft plan on reforming social insurance policy received much support from members of the 12th-tenure Party Central Committee (PCC) when it was discussed at the fourth working day of the committee’s 7th plenary session on May 10. The draft plan clarifies general and concrete objectives of the social insurance policy reform in three periods: by 2021, by 2025 and by 2030. Vice Chairman of the National Assembly Phung Quoc Hien said the draft plan aims to create a diverse and multi-level social insurance system with a focus placed on increasing compulsory social insurance so as to achieve insurance coverage for all people. At the meeting, many members of the Party Central Committee talked about adjustments to the retirement age, which is an issue attracting great public interest. The draft plan on social policy reform is one of the three plans being discussed at the 7th plenary session of the 12th-tenure Party Central Committee.
Source:VietNamNet News
May 10, 2018 15:11 UTC
A generation of ‘super parents’
A generation of ‘super parents’Parents across the world should admire Vietnamese parents as Vietnamese parents spend an average of 10 hours per week helping their children with homework, according to statistics released by the London-based Varkey Foundation in The Economist magazine. When their children enter the campus of the school, parents once again face traffic congestion on the rush to their office. If people know exactly about the details of a day of a Vietnamese parent, they couldn't help but admire Vietnamese parents. Concerning the role of a farmer, Vietnamese parents exceed parents in developed countries. At this time, it seems that parents can only give up the role of 'super parents' in two cases, that they are blind to information or they are irresponsible people.
Source:VietNamNet News
May 10, 2018 15:11 UTC
Vietnamese actress stuns Cannes red carpet
Nha Ky wears a dress by Vietnamese designer Do Long on the first day of the Cannes Film Festival. The red dress is inspired by Cinderella in fairy tale images. She dazzled in a beautiful white gown as she took to the red carpet on the second day of the Cannes Film Festival. Ky made her stunning appearance in an exquisitely embroidered white chiffon gown designed by Hoang Hai. She looks stunning with her tanned skin and long French-braid hairstyle.
Source:VietNamNet News
May 10, 2018 11:15 UTC
Whirlwind hits Dak Lak province, one dead
Whirlwind hits Dak Lak province, one deadA heavy rain and whirlwind hit the central highlands province of Daklak’s Ea Sup district yesterday, blowing roofs off hundreds of houses; hectares of vegetables, fruits were damaged, said Tran Dinh Toan –Deputy chairman of Ea Sup district People’s Committee. The disaster lasted around 45 minutes and covered over some part of areas such as Ea Sup, Ea Bung, Cu M’lan… killing one person. The whirlwind also uprooted many big trees on the communes’ streets. Local authorities are trying to overcome the consequence and being estimated total damages as well as cooperate with concerned units to help local people repair their houses and to have soon stable lives, Mr. Toan added.
Source:VietNamNet News
May 10, 2018 10:52 UTC
Celtrion Group to build $800-million pharmaceutical factory in VN
Celtrion Group to build $800-million pharmaceutical factory in VNAdding to the excitement of investments in the Vietnamese pharmaceutical sector, Celtrion Group from South Korea also found opportunities to join the game. The attractiveness of the Vietnamese pharmaceutical sector has also been shown by the joining of Vingroup, the leading real estate group in the country. Accordingly, Vingroup established Vinfa JSC and will spend VND2.2 trillion ($96.5 million) developing a pharmaceutical manufacturing and research centre in the northern province of Bac Ninh’s Gia Binh district. The Vietnamese pharmaceutical market is estimated to record a revenue of $5.2 billion in 2017, a 10 per cent increase from last year. The development potential of the pharmaceutical sector is substantial, however, in reality, almost the entire market is in the hands of foreign pharmaceutical corporations.
Source:VietNamNet News
May 10, 2018 10:30 UTC