Experts help young Vietnamese innovators in developing sustainable inventions
Experts help young Vietnamese innovators in developing sustainable inventionsThe 4th FabLab Asia Network Conference (FAN4) opened yesterday, May 2, in Ho Chi Minh City with the theme ‘Co-create a better world’. In particular, within the framework of the conference, experts will give technical and professional advice to sustainable projects of many Vietnamese individuals as well as organizations. In the conference, it is hoped that technical solutions will be introduced to help apply these useful sustainable projects nationwide. FabLab Saigon is the first one to be established in Vietnam, which paved the way to for six more centers like that later. FabLab Saigon focuses on the training of creative thinking and innovative methods in turning inventions into real products.
Source:VietNamNet News
May 03, 2018 08:48 UTC
Border guards suspended over major illegal logging case
Border guards suspended over major illegal logging caseFour border officials in Dak Lak Province have been suspended after the police raided a huge forest illegal logging site in the Yok Don National Park. Head of the Border Guard Station 747 Senior Lieutenant Colonel Cao Huu TungFour suspended officers are Senior Lieutenant Colonel Cao Huu Tung, head of the Border Guard Station 747, and his subsidiaries including Lieutenant Colonel Bui Khac Hiep, Lieutenant Colonel Pham Cong Khanh and Captain Tran Tien"The case has badly damaged the border guards' credibility," said Colonel Tong Anh Tuan, deputy head of the provincial Border Guard Command. Phuong asked to set up a site near the border guard station to look after the timber. Timber seized at an illegal logging site in Yok Don National Park on April 27On April 27, the police from the Environmental Police Department and the Mobile Police Command raided a major illegal logging site in Yok Don National Park and seized two trucks in Ea T'ling Town. According to the police, the loggers said that the illegal logging site belonged to the Pham Huu Phuong.
Source:VietNamNet News
May 03, 2018 08:15 UTC
Nghi Son Refinery mistimed first batch of RON A92
Nghi Son Refinery mistimed first batch of RON A92In light of the government’s initiative to switch to bio-fuel E5, it is questionable whether Nghi Son Refinery Co., Ltd. (NSRP) will be able to find a proper market for its newly launched RON A92 manufactured by Nghi Son Petrochemical Refinery (RFR). Nghi Son Refinery launched its RON A92 facility in the midst of the switch to bio-fuel E5After four years of construction, on May 1, Nghi Son Refinery Co., Ltd. (NSRP) officially launched RFR and produced the first batch of RON A92 petrol. Notably, according to statistics of petrol companies, after over four months of deployment, E5 petrol consumption is showing positive signs and has increased significantly against late 2017 and early 2018. In April’s first 15 days alone, Petrolimex’s total petrol sales hit 1.25 million cu.m, including 592,000cu.m of E5. In addition, container fees and transportation for E5 petrol are higher than RON 95, making business more difficult for petrol dealers.
Source:VietNamNet News
May 03, 2018 08:15 UTC
High-rise project by Hanoi's West Lake rejected
High-rise project by Hanoi's West Lake rejectedThe authorities of Hanoi have rejected the proposal to build a 36-storey hotel near the West Lake as it exceeds the permitted height in the area. This location was occupied by the Thang Loi Hotel. In 2015, Thang Loi Hotel JSC and Hilton Worldwide Group signed an agreement to renovate and transform Thang Loi Hotel into Hanoi Hilton Westlake. However, in accordance with the ministerial-approved master planning, high-rise buildings are banned around the West Lake. In 2014, the BRG Group acquired a large amount of stake in Thang Loi Hotel but the details of the transaction were not disclosed.
Source:VietNamNet News
May 03, 2018 08:15 UTC
Vietnam's fintech market to reach $7.8 billion by 2020
Vietnam's fintech market to reach $7.8 billion by 2020Fintech, or financial technology, is disrupting Vietnam’s financial services ecosystem. According to the report, the fintech market reached $4.4 billion in 2017 and is estimated to accelerate by $7.8 billion in 2020 due to rising bank penetration. Trends in Vietnam’s fintech spaceAlthough bank penetration in Vietnam is consistently growing, it still trails other Southeast Asian nations in the region. Among the three different fintech product segments, which are digital payment, personal finance, and corporate finance, digital payment leads the fintech service market share at 89%. Challenges including lack of regulatory clarity, capital limitation, management knowledge constraints, and trust issues must be observed in Vietnam’s financial services industry.
Source:VietNamNet News
May 03, 2018 08:15 UTC
Vietnam affirms value of Buddhism on International Day of Vesak
Vietnam affirms value of Buddhism on International Day of VesakAmbassador Nguyen Phuong Nga, Head of Vietnam’s Permanent Mission to the United Nations, praised the values of Buddhism during an event to celebrate the International Day of Vesak held in New York on May 2. She stressed that in today's world where conflicts, inequality and poverty still persist, Lord Buddha’s teachings guide us on the pathway to overcome challenges through kindness and mutual understanding. People are inspired by his teachings to keep up the aspiration and strong determination to achieve equality, sustainable peace and development for all. Talking about the religion’s role in Vietnam, Nga said for more than 2000 years since Buddhism was introduced to Vietnam, Buddhism has always represented a strong force for peace and harmony in the country’s society, making great contributions to the course of national defence, construction and development. “All religions, however diverse, converge in the common aspiration for the development of the whole nation and the betterment of peoples' lives,” she said.
Source:VietNamNet News
May 03, 2018 07:52 UTC
Vietnam makes trade surplus of US$3.39bn
Vietnam makes trade surplus of US$3.39bnViet Nam made a trade surplus of US$3.39 billion in the first four months of 2018, in which foreign direct investment (FDI) sector, including fuel, took the lead with $11.17 billion. They were followed by ASEAN countries, Japan and South Korea, with $7.9 billion, $5.8 billion and $5.8 billion, respectively. The markets having strong growth in seafood export value included the Netherlands (55.7 per cent), China (44.6 per cent) and the United Kingdom (33.8 per cent). They made up of 34.4 per cent, 13.6 per cent and 13.3 per cent of the market share, respectively. China was still the largest export market of Vietnamese cassava, accounting for 88 per cent of the total exports.
Source:VietNamNet News
May 03, 2018 07:52 UTC
Vinamilk’s profit down by 9% in first quarter
Vinamilk’s profit down by 9% in first quarterDairy giant Vinamilk reported a fall of 9 per cent in its consolidated net profit in the first quarter of this year, reaching over VND2.68 trillion (US$118 million). The parent company also saw its revenue and profit go down compared to the same period last year, totalling VND10.7 trillion and VND2.6 trillion, respectively, in the last three months. The parent company also saw its revenue and profit go down compared to the same period last year, totalling VND10.7 trillion and VND2.6 trillion, respectively, in the last three months. By the end of March, Vinamilk achieved 22 per cent of its revenue target of VND55.5 trillion and 25 per cent of its net profit goal of VND10.75 trillion set for this year. Vinamilk’s market cap was VND267.8 trillion ($11.75 billion) on March 2, while Vingroup’s market value reached VND329.7 trillion.
Source:VietNamNet News
May 03, 2018 07:52 UTC
AVG shareholders return $375 million to MobiFone
AVG shareholders return $375 million to MobiFoneThe total funds returned by AVG shareholders included the value of 95 per cent of the shares that MobiFone had acquired and an additional VND60 billion ($2.63 million) in terms of interest and other fees in the notorious deal. In the document submitted to MIC, MobiFone noted that its account at VietinBank has more than VND4.533 trillion ($200 million) and that its account at BIDV has received more than VND3.971 trillion ($175 million). AVG shareholders have returned a total of nearly VND8.505 trillion ($375 million) to MobiFone in five payments between March 15 and April 26. This includes the amount that MobiFone paid for AVG shareholders to purchase 95 per cent of the shares (over VND8.445 trillion, equivalent to $372 million) and more than VND59.7 billion ($2.63 million) as part of relevant costs and interest. Thus, MobiFone asked MIC’s assistance with the next steps and the Government Inspectorate to indentify the specific amount that AVG shareholders need to transfer.
Source:VietNamNet News
May 03, 2018 07:41 UTC
HCM City launches fingerprint scanning programme of students on school buses
HCM City launches fingerprint scanning programme of students on school busesVietNamNet Bridge – The HCM City Public Transport Management Centre has launched a pilot programme to use fingerprint scans on school buses to enable schools to better manage school ridership. An employee with the HCM City Public Transport Management Centre collects fingerprints of students at Nguyen Binh Khiem primary school in District 1. Lam Hong Lam Thuy, the school principal, said, because of privacy concerns, she must receive parents’ approval before the centre collects students’ fingerprints. Trung hopes that with this programme the number of students going to school by bus will increase. Trung said after assessing the impact of the programme, the centre would expand it to all schools in the city.
Source:VietNamNet News
May 03, 2018 07:18 UTC
Woman invents first-aid solution for patients who live far from hospitals
Woman invents first-aid solution for patients who live far from hospitalsVietNamNet Bridge - The smart bio-glue invented by scientist Nguyen Thi Hiep can be used to stop bleeding and reduce the time needed for tissue regeneration, providing a self-healing solution for those living far from hospital. Scientists believe that the glue membrane would be particularly useful for patients in rural and remote areas. In case of accidents, those who live far from hospitals can use the glue for first aid before they go to a medical facility. In case of accidents, those who live far from hospitals can use the glue for first aid before they go to a medical facility. In order to pursue research, Hiep has poured all her money from her monthly salary, and from internationally published articles and international donors.
Source:VietNamNet News
May 03, 2018 07:14 UTC
Artist showcases paintings inspired by poetry
Artist showcases paintings inspired by poetryVietNamNet Bridge – Writer Tran Nhuong is showcasing his latest paintings at an exhibition entitled Thi Hung (Inspired by Poetry). Nhuong’s world: An artwork by Tran Nhuong. It’s necessary in creativity.”“We don’t just discover the world of Nhuong, but through his paintings, we also discover our own worlds,” said Thieu. With the eyes and senses of a professional artist, Minh highly appreciated Nhuong’s paintings. “He just wants to express the feelings and stories that literature can’t help him speak out.”Public display: A visitor enjoys paintings by Tran Nhuong.
Source:VietNamNet News
May 03, 2018 07:07 UTC
Human trafficking hurts Central Highlands kids
Human trafficking hurts Central Highlands kidsVietNamNet Bridge – Two children were returned to their families in the Central Highland province of Dak Lak in April after a week of suffering from forced labour in HCM City. A teenager in the Central Highlands province of Dak Nong tells reporters about her experiences being forced to work and locked up in a textile manufacturing unit in HCM City. The man promised Sinh’s and Do’s parents that they would be doing “textile manufacturing jobs” and get paid VND13 million (US$570) per year. Although child trafficking has been a pressing issue in the Central Highlands since 2014, local authorities were met with several obstacles when tackling the situation. The Central Highland provinces are ripe with immigrants from the northern region who spread sparingly across the area, said an official from Dak Lak Province’s Krong Bong District.
Source:VietNamNet News
May 03, 2018 06:33 UTC
Foreigners allowed to own 49% of commodity exchange
Foreigners allowed to own 49% of commodity exchangeForeign investors will be allowed to contribute capital to establish commodity exchange in Viet Nam as per Decree No. Foreign investors may contribute up to 49 per cent capital to establish the commodity exchange in Viet Nam. — Photo www.anangtawiah.comHowever, their ownership in the exchange should not exceed 49 per cent of its charter capital. Foreign investors are also permitted to trade goods on the commodity exchange as clients and can become members of the exchange (brokers or traders) without ownership restraint. 158/2006/ND-CP, dated December 28, 2006, on the conditions for the establishment of commodity exchange.
Source:VietNamNet News
May 03, 2018 05:26 UTC
More companies lift foreign ownership limit to 100%
More companies lift foreign ownership limit to 100%Three companies have opened up the foreign ownership limit to 100 per cent, the State Securities Commission announced. Foreign possession in Petrovietnam Fertilizer & Chemicals Corp was 24.5 per cent by 2017-end. — Photo tienphong.vnThey include Viet Nam-Italy Steel JSC (VIS), Petrovietnam Fertilizer & Chemicals Corp (DPM) and confectionery Kido Group (KDC). Foreign ownership in Viet Nam-Italy Steel JSC is almost 25 per cent by February 21, 2018, of which Kyoei Steel Co is the largest foreign shareholder with a 20-per-cent stake. Foreign possession in Petrovietnam Fertilizer & Chemicals Corp was 24.5 per cent and in Kido Group 19.62 per cent by the end of last year.
Source:VietNamNet News
May 03, 2018 04:52 UTC