The PM also decided to create the Committee on Public-Private Partnership (PPP) as a professional body of the National Council on Sustainable Development and Competitiveness Improvement.Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc (Source: vietnamnet.vn)The Committee on PPP will be chaired by the Chairman of the Vietnam Chamber of Commerce and Industry. A representative of the Vietnam Association of Small- and Medium-sized Enterprises will serve as vice chairman of the committee.National Council on Sustainable Development and Competitiveness Improvement is headed by Deputy Prime Minister Vu Duc Dam.The council is tasked with advising the Government and the PM in building and implementing strategies, policies, plans, programmes, tasks and measures for the effective implementation of the National Plan of Actions to carry out the 2030 Agenda for Sustainable Development.The council also plays a consultative role in helping the Government and PM in improving the … [Read more...] about National Council on Sustainable Development has new vice chairman
Unclear labelling of goods upsets buyers
A large number of domestic consumers have shown disappointment with the brands on social networks, Photo: Dung Minh Untruthful advertisement on quality Recent years, Vietnam has become an attractive destination for convenience store brands. With more than 100 stores of various brands concentrated in crowded streets nationwide, these stores has made the habits of Vietnamese consumers gradually change. Instead of going to supermarkets to buy daily necessities, they choose convenience stores due to their reasonable prices, diverse types and designs of products, and attentive services. Daiso Japan is the leading brand in the business in Vietnam, officially having entered the market with its first store launch in 2008. To date, a number of South Korean- and Japanese-style shops have mushroomed on the Vietnamese market and have been welcomed by consumers, as Minigood, Yoyoso, and Ilahui advertise themselves as brands from South Korea, Mumuso styles itself as “a retail brand name … [Read more...] about Unclear labelling of goods upsets buyers
30th Diplomatic Conference wraps up
In his closing remarks, Deputy Prime Minister and Foreign Minister Pham Binh Minh said the conference was a resounding success, helping improve the role of Vietnam’s diplomatic sector.The five-day event reviewed the recent implementation of external affairs, analysed the regional and international situation as well as opportunities and challenges facing Vietnam, and proposed some countermeasures.He stressed that Party and State leaders highly appreciate the achievements of the diplomatic sector, which, they said, have significantly contributed to maintaining a peaceful and stable environment for national development, and enhancing Vietnam’s international status.Deputy Prime Minister and Foreign Minister Pham Binh Minh speaks at the conference (Source: VNA)The delegates also outlined some of the sector’s key tasks for the time ahead, including researching and defining the direction for external relations in a modern context; putting development at the centre of … [Read more...] about 30th Diplomatic Conference wraps up
Symposium promotes Industry 4.0’s role in human development
Photo for illustration (Source: VNA) The event was jointly organized by the Vietnam Academy of Social Sciences (VASS), the Theoretical Council of the Communist Party of Vietnam’s Central Committee, and the United Nations Development Programme (UNDP) in Vietnam. Addressing the event, Vice Chairman of the VASS Dang Nguyen Anh said production and recruitment are the most important elements for the nation’s economic development, and even further that the Fourth Industrial Revolution is a turning-point in the history of humankind, creating strong impacts on all aspects of the society, and bringing rapid and sustainable development. During its 30-year process of industrialization and modernization, Vietnam has reached high economic growth and remarkable achievements through the pillars of extensive growth: productive employment, social services, and social security, he said. According to Caitlin Wiesen, Director of UNDP in Vietnam, the Fourth Industrial Revolution is able to … [Read more...] about Symposium promotes Industry 4.0’s role in human development
AirAsia to launch Kuala Lumpur-Phu Quoc direct air route
A corner of Phu Quoc island. (Photo: VNA)AirAsia Commercial Director Spencer Lee said AirAsia is the first carrier operating the direct air route from the capital of Malaysia to the pearl island of Vietnam. “We hope the air connection will contribute to socio-economic development of Phu Quoc and we also look forward for working with the local authorities to develop the island into a world-class tourism destination,” he said. With the flight network covering 20 cities of 10 countries, including China, India, Australia, Indonesia, Japan, the Republic of Korea, the Philippines, Thailand, Singapore and Malaysia, passengers could fly to Phu Quoc by transiting via Kuala Lumpur. Visitors from any country are eligible for 30-day visa exemption stay at Phu Quoc which makes this destination more accessible. Phu Quoc was recognized as a World Biosphere Reserve by UNESCO in 2006. It is a sea and island paradise for those who wish to enjoy sun and sunshine with a 150-km coastline. The … [Read more...] about AirAsia to launch Kuala Lumpur-Phu Quoc direct air route
Vietnam among 10 most interesting destinations, top globetrotter says
By Nguyen Quy  August 18, 2018 | 08:47 am GMT+7 A man who has visited 193 countries and 500 World Heritage sites is impressed by Vietnam's forward looking attitude. Washington DC native Don Parrish, 73, has been called "the world's most travelled" person. He has been to 193 United Nations countries and visited 500 World Heritage sites around the world. The Telegraph asked him to suggest some of the world’s must-visit places based on his experiences and insights. A ranking based on his travel experiences and insights published by the U.K. newspaper named Vietnam among the top 10 interesting destinations. Parrish had only 11 days to stay in Vietnam. Like many foreigners, he was impressed by the number of motorbikes on city streets. Motorbikes are a popular means of transport in Vietnam's urban cities. Photo by VnExpress/Thanh Nguyen He was even more impressed that the the motorcyclists were "self-organized" at busy intersections … [Read more...] about Vietnam among 10 most interesting destinations, top globetrotter says
Vietnam’s caged bears dying off as bile prices plummet
Two moon bears are gently removed from the cramped cages where they have been held for 13 years, rescuers carefully checking their rotten teeth and matted paws before sending them to their new home in a grassy sanctuary in northern Vietnam. Bear bile is extracted -- often continuously and painfully -- from the animals' gallbladders and used in traditional medicine in Vietnam, where the illegal practice remains widespread. But consumers are shunning the farmed version in favor of bile taken from the nearly extinct wild bear population, which can cost 12 times more, and farmers can no longer earn what they used to from the illicit trade. If consumer demand for wild bear gallbladders catches on, it could spell the end for wild bears, which are killed for the sought-after organ. The trend is also bad news for caged bears, whose owners can no longer afford to keep them alive. "Farmers said it wasn't profitable to keep the bears any more so they started feeding them less and let them die … [Read more...] about Vietnam’s caged bears dying off as bile prices plummet
Should Government officials use the social network?
Dr. Đỗ Văn Quân from the Việt Nam Academy of Social Sciences talks to Khoa học & Đời sống (Science & Life) newspaper on how to utilise social network properly. Trương Quang Nghĩa, Secretary of the Đà Nẵng City Party Committee has recently said that nowadays many Government officials have shied away from social networks, especially Facebook. As a researcher on the role of social counter-arguments on the mass media, how do you respond to this? I highly appreciated what Nghĩa has said. This is an indication that he has acknowledged the role of social networks in our society nowadays. It is undisputable that social network nowadays is a fruit of the civilisation of mankind. And that trend will become more and more popular in the fourth industrial revolution. All rank and file people have opportunities to approach the trend and be influenced by it. In my opinion, in our society, a group of … [Read more...] about Should Government officials use the social network?
Sugar firms anticipated more buoyant upcoming fiscal year
Positive factors apprear promising a more upbeat upcoming fiscal year for sugar firms The recently released financial statement of Son La Sugar JSC (SLS) showed that in the fourth quarter of the company’s 2017-2018 fiscal year from July 1, 2017 to June 30, 2018, it fetched VND144 billion ($6.3 million) in revenue, equal to the number recorded one year ago, but its post-tax profits plunged by 39.3 per cent. For the whole fiscal year 2017-2018, the company’s post-tax profit decreased by 28.9 per cent on-year to VND116 billion ($5.13 million). Lower profits against augmenting asset value have led to a sharp fall in the company’s major profitability indexes. Accordingly, its return on asset (ROA) ratio fell to 8.2 per cent from 17.8 per cent in the same period last fiscal year, while its return on equity (ROE) ratio dropped to 24.2 per cent from 38.8 per cent. The SLS results reflect a development shared by most other sugar firms in the 2017-2018 fiscal year. In the … [Read more...] about Sugar firms anticipated more buoyant upcoming fiscal year
Bank tickers anticipated upbeat momentum ahead
Despite some corrections in the first half, bank tickers are expected to lead the market in the second half, buoyed by dwindling provisioning and upbeat profit prospect. Bank tickers anticipated upbeat momentum ahead Hoang Huy, head of Equity Research at Ho Chi Minh City-based KIS Vietnam Securities Corporation, with price-per-earnings ratio averaging 17.1x, the VN-Index hovers in an attractive pricing zone to investors in the context listed firms anticipate a 20 per cent jump in their profit throughout the year. Of the tickers, those in banking, real estate, and consumer goods sectors appear most promising during the rest of the year. Bank tickers are even expected to lead the market upward trend. In Huy words, lending rate tending to go up will help improve the net interest margin (NIM) in banks’ lending, meanwhile banks have reported rising incomes from service segment amid lower needs for provisioning. In fact, total operating income of 16 listed banks jumped … [Read more...] about Bank tickers anticipated upbeat momentum ahead