Thin capitalisation is preventing banks from offering sufficient long-term loans to the local business community, Photo: Le Toan Thin capitalisation Many Vietnamese businesses are struggling with a debt-to-equity ratio that is too high to thrive at present. Some will eventually manage the high cost of borrowing to make earnings, while others could be making losses for a year, hoping to pull through in the next. Deputy Prime Minister Vuong Dinh Hue, at the Vietnam Economic Forum on the Capital-Finance Market held in Hanoi last week, cited data by the General Statistics Office of Vietnam showing that 53 per cent of businesses operating in Vietnam made no profit in the year ending on December 31, 2016, and they thus could not fulfil their corporate tax obligations to the country. Although the proportion of those making a profit for the year had significantly improved from the 30 per cent recorded in previous years, Hue nevertheless asked the question: “For an economy in which up … [Read more...] about Capital market in need of FIE boost
Why companies use marketing channels
Viet Nam News by Thu Hằng I am no wildlife expert, but I am an avid enthusiast. The migratory patterns and behaviours of birds and the habits and lives of African elephants fascinate me, for instance. So it was with great disappointment that I learnt I won’t be able to watch the National Geographic channel anymore. I am sure there are many others sharing this feeling regarding their own favourite TV channels like HBO, Disney, Cartoon Network, Star Movies or Cinemax, all of which have been yanked off air by the Việt Nam Television Cable Corporation (VTVCab) from April 1 onwards. The disappointment is greater that this was done without any proper warning to speak of, although company spokespersons have said the information was carried on its website. That is not enough. While there can always be some reason or the other to stop broadcasting a channel or a few channels, the way popular ones have been cut off without any notice, raising concerns about the … [Read more...] about Removal of TV channels gets bad reception
Vietnam wastes its chances at international tourism fairs while hindering vacationers with complicated visa rules, as industry insiders name more reasons to explain why the country has seemingly become less attractive to tourists worldwide. Attending such high-profile international tourism exhibition as the ITB Berlin Convention is a precious opportunity for any country to give its tourism industry a boost. But Vietnam always throws away the chance despite its frequent attendance at what is known as the world’s leading travel trade show, according to Vu The Binh, deputy chairman of the Vietnam Travel Association (VITA). “Vietnam used to open one common booth for its travel agencies and airlines at the ITB events, but the way it was organized was always unscientific,” said Binh, who is also the former head of the travel department of the Vietnam National Administration of Tourism (VNAT). National flag carrier Vietnam Airlines used to be in charge of the Vietnam … [Read more...] about Insiders explain why Vietnam is losing its tourism appeal
300 tonnes of litchi exported to China daily Since the end of May, on average 300 tonnes of litchi were transported every day to the Chinese market through the Lao Cai international border gate. Between 2,000-5,000 tonnes of fresh litchi will be delivered to Chinese dealers each day in the next two weeks when the harvest season is at its peak. Litchis are mainly grown in Bac Giang and Hai Duong provinces, less than 70km from capital Hanoi. At present, the average export price ranges between VND10,000-12,000 per kilo, mostly shipped to wholesale markets in China's Yunnan province. Local businesses find it beneficial to export their products to China through official trade channels, thanks to the stable prices and simple procedures. Local businesses attend int'l Kunming Fair More than 120 Vietnamese businesses are attending an import and export fair, which opened in Kunming City, the capital of China's Yunnan province, on June 6. They are showcasing Vietnam's traditional … [Read more...] about BUSINESS IN BRIEF 8/6
Witnessing their children gazing ardently at cartoons produced by foreign picture companies every day on television, a married couple of artists have determined to make animated films not only for educational purposes, but also as entertainment in an admirable effort to help resurrect a dwindling domestic cartoon industry. Graduated from Dong Nai Province Fine Art School in pottery sculpture in 1984 and later from the Ho Chi Minh City Fine Art University in canvas in 1993, gifted artist Nguyen Hoang Huy, 47, has made his mark in the arts as the winner of several prizes in sculpture and oil paintings awarded by Viet Nam and city's Fine Arts Association. Huy married Nguyen Phuong Hoa, 40, a graphic designer, in Dong Nai in 1995. After their marriage, the couple moved to HCMC, where Hoa got a job as an animation artist for a foreign picture company while Huy worked as a volunteer arts teacher for speech and hearing - impaired kids at some centers established by the city's Red … [Read more...] about Vietnamese Cartoons for Vietnamese Kids, Why Not?