While banks recovered, many other large-cap stocks remained in the red. — Photo money.usnews.com The benchmark VN Index on the HCM Stock Exchange extended losses on Friday morning, sliding down 0.2 per cent to 766.1 points. While banks recovered, many other large-cap stocks remained in the red. Five of the seven listed lenders in the southern market advanced, but their growth was negligible at less than 1 per cent, except Eximbank (EIB), which climbed 6.6 per cent to VND11,950 a share. Around 20 million shares of Eximbank changed hands on Friday morning through the negotiation method for VND210 billion (US$9.3 million). VPBank (VPB), which made its debut on Thursday with 1.33 million shares, dropped 2.3 per cent, while Sacombank (STB) slipped 0.4 per cent. Many of the heavyweights in the VN30 basket (which tracks the top 30 shares by market value and liquidity on the HCM City exchange) … [Read more...]

Spain mounted a sweeping anti-terror operation on Friday after a suspected Islamist militant drove a van into crowds in Barcelona, killing 13 people before fleeing, in what police suspect was one of multiple planned attacks. Forensic police officers search for clues near the area where a van crashed into pedestrians at Las Ramblas in Barcelona, Spain, August 18, 2017. Islamic State claimed responsibility for the deadly rampage along the city's most famous avenue on Thursday, which was packed with tourists taking an afternoon stroll. The death toll could rise, with more than 100 injured, authorities said. As security forces hunted for the van's driver, who was seen escaping on foot, police said they had killed five attackers on Thursday night in Cambrils, a town south of Barcelona, to thwart a separate attack using explosive belts. Six civilians and a … [Read more...]

Saigon’s top official has ordered the city to speed up road construction or face the prospect of an even more congested urban environment. “With the current speed of construction, it will take another 167 years for Ho Chi Minh City to reach national standards,” Nguyen Thien Nhan, the city’s Communist Party chief, said at a meeting on Friday. The city is “very short of road space,” he said. Road density in the megacity is 1.98 kilometers per square kilometer, while the national standard for urban areas is 10 kilometers for every square kilometer. He said the city needs “urgent breakthroughs” if it wants to end its dire traffic problems. "We must speed up road construction by sevenfold in the next 25 years," he said. A detailed roadmap has not been publicly discussed, and it’s not clear if the construction rush will involve the felling of more trees as it did for the recent metro line and road expansion … [Read more...]

VietNamNet Bridge – The Ministry of Education and Training will regulate specific floor marks for teacher training colleges and universities from 2018 as part of measures to improve teacher training quality. A professional skills contest at Ha Noi University of Education. Officials said resolute measures were needed to improve training quality, focusing on quality of input into teacher training institutions. — Photo: VNA/VNS  Floor mark is the minimum mark Vietnamese students must obtain from national exams to be eligible to study at any university or college. The move was made after a number of teacher training colleges and universities in Viet Nam pushed cut-off marks to a record low to enroll enough students. Some institutions even lowered their pass marks to nine out of 30. Vietnamese 12th graders took the national exam in June … [Read more...]

Capella Quang Nam Joint Stock Company, a subsidiary of Capella Land JSC, will construct Tam Thang 2 Industiral Zone (Tam Thang 2) located in the central province of Quang Nam, aiming to meet the increasing demand for land leasing in the province’s industrial zones. The project will be extremely well connected through the province's arterial roads and other infrastructure facilities The construction will be implemented only a short time after receiving approval from by the prime minister under Document No.425/TTg-CN dated March 24, 2017. The construction of the project, which has a total investment capital sum of VND350 billion ($15.35 million), is expected to be completed within two years. Representatives of the investor said that the company is committed to accelerating investment in the infrastructure construction of … [Read more...]

Vietnam will conduct food safety control system which is equivalent to that of the US (Photo: VNA) Hanoi (VNA) — Vietnam’s tra fish exports to the United States have remained stable after it imposed a demand that exporting countries demonstrate their food safety control system is equivalent to that of the US. An announcement to this effect by the Vietnam Association of Seafood Exporters and Producers (VASEP) on August 17 has belied fears and reports that exports of the fish could be rejected or cancelled in the coming time. Reports of rejection or cancellation of Vietnamese tra fish exports “has no basis,” VASEP said in a note. It said that tra fish exports to the US had declined in the first quarter due to a shortage of raw materials, but recovered in the second quarter with an 8.4 percent increase, thanks to rising … [Read more...]

Voice of Viet Nam will host the ASEAN+3 Song Contest to celebrate the 50th founding anniversary of ASEAN and the 72nd anniversary of Voice of Viet Nam. The contest aims to increase cultural exchanges between ASEAN members and China, the Republic of Korea and Japan. This is the first time that Voice of Viet Nam has hosted a pop singing contest for ASEAN members.  Pop music was selected as a medium to encourage enthusiastic exchanges between the young people of ASEAN countries. 24 singers,19 from ASEAN countries and 5 from China, the Republic of Korea, and Japan, will participate in the contest.  Contestants will demonstrate their own musical technique and voice as well as the cultural identity of their country.  Voice of Viet Nam hopes young artists are enabled to express themselves and musical talents are nurtured within the ASEAN … [Read more...]

The Trung Hoa-Nhan Chinh urban area in Hanoi (Source: VNA) Hanoi (VNA) – The Ministry of Construction and the Korea International Cooperation Agency (KOICA) held a workshop in Hanoi on August 17 to review the implementation of the Green City Planning Decision Support System (GDSS) in Vietnam. Deputy Minister of Construction Phan Thi My Linh said the project was sponsored by the Republic of Korea and has been carried out for more than a half year. The Korea Research Institute for Human Settlements along with the management board of projects of the Ministry of Construction, northern Thai Nguyen and southern Kien Giang provinces coordinated to build a set of green urban indicators and a GDSS to evaluate urban development nationwide. This is a foundation to building a legal framework and guidance documents for green city planning in Vietnam. During the workshop, participants discussed improving the efficiency of the … [Read more...]

Vietnamese and Korean artists are showing their works at an art exhibition which opened in downtown Seoul on August 16, under support from the Viet Nam Embassy in the Republic of Korea and the Korea Foundation. More than 20 paintings, video tapes and installation art works on display depict social changes in both nations over the past 30 years through the eyes of young artists. The exhibition is part of activities marking the 25th founding anniversary of Viet Nam – RoK diplomatic relations. It is taking place at the Korea Foundation (KF) Cultural Centre until October 18, before moving to the ASEAN Cultural House in Busan. Speaking at the opening ceremony, KF Executive Vice President Yoon Keum-Jin said the event is the biggest display of Viet Nam’s contemporary art in her country to date. She noted that young Vietnamese and Korean artists shared a common concern … [Read more...]

The Vietnamese and Thai prime ministers on Thursday expressed their support for a code of conduct to be agreed upon quickly between the  Association of Southeast Asian Nations (ASEAN) and China regarding the South China Sea, which is known in Vietnam as the East Sea. The statement was issued during Vietnamese Prime Minister Nguyen Xuan Phuc's official three-day visit to Thailand, according to Vietnam's foreign ministry. Phuc and his Thai counterpart Prayut Chan-o-cha both reaffirmed the importance of maintaining peace, security, stability and freedom of navigation in the South China Sea. The two prime ministers called for the full and effective implementation of the 2002 Declaration of Conduct of Parties in the South China Sea. The leaders also emphasized the need for all countries involved to raise mutual trust, exercise self-restraint, avoid the use of violence and settle disputes by peaceful means and in accordance with international laws, including the 1982 … [Read more...]

Participants in a meeting as part of the third APEC Senior Officials' Meeting in Ho Chi Minh City on August 18 (Photo: VNA) HCM City (VNA) – The tenth meeting of the APEC Port Services Network (APSN) Council under the Transportation Working Group (APTWG) was held in Ho Chi Minh City on August 18. Delegates at the event updated the APSN Five-Year Strategic Plan between 2014 and 2018, noting that the plan is important to setting directions for the organisation and the next Council meeting. Regarding the handling of dangerous goods at ports, they agreed that there is a need for updated dangerous goods guidelines for this region that would consider the nature of APEC economies and their different levels of development. The Council decided to compile best practices on the settlement of dangerous goods at APEC ports. The meeting also reviewed … [Read more...]

Representatives of ADB and TPBank shake hands after signing a trade finance agreement in Hanoi (Photo courtesy of TPBank) Hanoi (VNA) - Tien Phong Commercial Joint-Stock Bank (TPBank) has received 45 million USD from the Asian Development Bank (ADB)’s Trade Finance Programme (TFP), bringing the total to 75 million USD. The additional trade finance will help to considerably improve TPBank’s credit capacity in the market. Santosh Pokharel, TFP’s relationship manager, said the additional trade finance was decided after ADB reviewed TPBank’s details. TPBank General Director Nguyen Hung said ADB increased guarantees for TPBank by 2.5 times in a very short time, showing the foreign bank’s confidence in TPBank. Earlier, ADB provided TPBank with 30 million USD on May 24. [ABBank, TPBank join ADB trade finance … [Read more...]

NDO - The Phu Quoc Fish Sauce Association received a decision from the People's Committee of Kien Giang province on August 18 in recognition of Phu Quoc fish sauce as a traditional craft. In addition, the fish sauce making village on Phu Quoc Island has been recognised as a traditional craft village. Huynh Quang Hung, Vice Chairman of Phu Quoc district People's Committee, said that Phu Quoc fish sauce is the first product of Vietnam to receive the EU Certificate of Protected Designation of Origin of Phu Quoc (PDO "Phu Quoc"), demonstrating the great attention of the authorised agencies and Kien Giang province to the craft of making Phu Quoc fish sauce. Hung noted that the People's Committee of Phu Quoc district will consider the planning of a construction site for concentrated fish sauce production facilities to ensure the sustainability of the traditional craft, as well as helping to improve and preserve the quality of Phu Quoc fish sauce. Furthermore, the Phu Quoc … [Read more...]

Da Nang - Quang Ngai highway (Source: V​EC) Hanoi (VNA) – Deputy Prime Minister Trinh Dinh Dung has asked the Transport Ministry, investors and contractors to work closely with localities on site clearance to speed up the progress of key transport projects.  Chairing a meeting of the State Steering Committee for key transport works in Hanoi on August 17, Dung urged the Transport Ministry to promptly complete the north-south highway project and plans for transport investment in the Mekong Delta to report to the PM and submit to the National Assembly. The ministry was asked to direct investors, management boards and contractors to hasten the construction of the Tan Vu – Lach Huyen road, Da Nang – Quang Ngai highway, Hoa Lac – Hoa Binh highway, Deo Ca tunnel, Long Thanh international airport, Cao Lanh and Vam Cong bridges and component part of the … [Read more...]

NDO/VNA – Prime Minister Nguyen Xuan Phuc has urged Thai firms to grasp the opportunities arising from merger & acquisition activities, the equitisation of State-owned enterprises (SMEs) and their divestment in transport, infrastructure, food, agriculture, telecommunications, trade, services and construction in Vietnam. At a meeting with Thai enterprises in Bangkok, on August 18, during his official visit to Thailand, Phuc stated that the Vietnamese economy is now worth over US$220 billion and the country is striving to meet the basic criteria in the business environment, equivalent to the ASEAN 4 level by 2020. Vietnam is also in a period of golden population with 60% of the population within the working age. Thai business representatives thanked the Vietnamese government for creating favourable conditions for investors from Thailand, and the ASEAN member states, to join the SMEs equitisation in the country. They pledged to continue expanding their business … [Read more...]

NDO/VNA – The APEC Network of Anti-Corruption Authorities and Law Enforcement Agencies (ACT-NET) held a workshop on intensifying cooperation in revoking corruption assets among law enforcement agencies, on August 18 in Ho Chi Minh City. The workshop, held within the framework of the APEC 2017 third Senior Officials Meeting (SOM3), attracted the participation of many experienced speakers in the anti-corruption field, from both the public and private sectors. The event provided a chance for the member economies to discuss and share their experience and information concerning any difficulties and challenges, as well as cooperation between law enforcement agencies in taking back the assets related to corruption cases. Vietnam’s Deputy Inspectorate General Nguyen Van Thanh said that corruption is causing the country to lose resources, reducing the efficiency of public investment, eroding the trust of investors and weakening national competitiveness and … [Read more...]

Vietnam's government has confirmed it has taken delivery of a batch of short-range ramjet supersonic cruise missiles from India. Foreign ministry spokeswoman Le Thi Thu Hang said at a press briefing on Thursday that Vietnam is developing defense cooperation with India to allow the country to pursue its defense policies. “The arms purchase is in line with Vietnam’s peaceful national defense policies aimed at protecting the country,” Hang said. She said the strategic comprehensive partnership between Vietnam and India is growing in various areas and contributing to peace, stability and development in the region and the world. The BrahMos missile was developed by Russia's NPO Mashinostroeyenia and India’s Defense Research and Development Organization. It is the world’s fastest anti-ship cruise missile in operation, traveling at speeds of 3,400-3,700 kilometers per hour. The three-ton missiles can be launched from submarines, ships, … [Read more...]

Vietnam is developing defense cooperation with India to allow the country to pursue its defense policies, foreign ministry spokeswoman Le Thi Thu Hang said at a press briefing on Thursday. She was responding to question about Vietnam's purchase of a batch of short-range ramjet supersonic cruise missiles from India. Any arms purchase "is in line with Vietnam’s peaceful national defense policies aimed at protecting the country,” Hang said. She said the strategic comprehensive partnership between Vietnam and India is growing in various areas and contributing to peace, stability and development in the region and the world. The BrahMos missile was developed by Russia's NPO Mashinostroeyenia and India’s Defense Research and Development Organization. It is the world’s fastest anti-ship cruise missile in operation, traveling at speeds of 3,400-3,700 kilometers per hour. The three-ton missiles can be launched from submarines, ships, aircraft or … [Read more...]

NDO/VNA – Nearly 100 delegates from 21 member economies of the Asia-Pacific Economic Cooperation (APEC) discussed best practices, sharing of standards and conformity assessment in the development of smart cities within the APEC region, at a workshop held in Ho Chi Minh City on August 18. The workshop is an activity of the APEC Sub-Committee on Standards and Conformance (SCSC) within the framework of the APEC 2017 third Senior Officials Meeting (SOM3) and other related meetings. In his opening remarks, Vietnamese Deputy Minister of Science and Technology Tran Van Tung said that the promotion of a digital economy is considered as an important issue of the APEC 2017. One of SCSC 2017 priorities this year is “Development and promotion of standards and conformance to support the digital economy”, in that the APEC region needs to work together to share best practices, identify opportunities and challenges, and boost cooperation, the harmonisation of standards … [Read more...]

NDO/VNA – Nearly 100 delegates from 21 member economies of the Asia-Pacific Economic Cooperation (APEC) discussed best practices, sharing of standards and conformity assessment in the development of smart cities within the APEC region, at a workshop held in Ho Chi Minh City on August 18. The workshop is an activity of the APEC Sub-Committee on Standards and Conformance (SCSC) within the framework of the APEC 2017 third Senior Officials Meeting (SOM3) and other related meetings. In his opening remarks, Vietnamese Deputy Minister of Science and Technology Tran Van Tung said that the promotion of a digital economy is considered as an important issue of the APEC 2017. One of SCSC 2017 priorities this year is “Development and promotion of standards and conformance to support the digital economy”, in that the APEC region needs to work together to share best practices, identify opportunities and challenges, and boost cooperation, the harmonisation of standards … [Read more...]