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US hands over training facilities to Vietnam coast guard

April 18, 2021 by e.vnexpress.net

A ceremony marking the handover was held April 9 at the offices of the 3rd Regional Coast Guard in the southern province of Ba Ria – Vung Tau.

Attending the ceremony were Vietnam Coast Guard commander Lieutenant General Nguyen Van Son, U.S. Consul General Marie Damour and other officials, the U.S. embassy said in a Facebook post Saturday.

Lt. Gen. Son said that Vietnam highly appreciated the U.S. gesture and considered the event “an important milestone of the Vietnam-U.S. partnership,” helping Vietnam improve its law enforcement capacity at sea.

The cooperation between the coast guards of both countries has strengthened in recent years.

In 2017, the U.S. Coast Guard handed over the Hamilton-class (the second-largest class of vessels in the U.S. Coast Guard) USCGC Morgenthau cutter to the Vietnam Coast Guard under their Excess Defense Articles (EDA) program. The ship was then commissioned for the Vietnam Coast Guard and renamed CSB 8020.

The U.S. has also sold a total of 24 Metal Shark high-speed patrol boats and is overhauling the USCGC John Midgett, another Hamilton-class vessel, to hand it over to Vietnam.

At a press conference in Hanoi, outgoing U.S. Ambassador Daniel Kritenbrink had remarked that security cooperation was developing strongly between the two countries, especially between the two militaries.

He said that Vietnam and the U.S. have worked together to implement a United Nations resolution on North Korea and to promote a common stance on the East Sea. The U.S. has assisted Vietnam in building its defense capacity, especially maritime capabilities, and supported Vietnam in sending peacekeeping personnel to South Sudan.

Referring to East Sea disputes, Kritenbrink had stressed that the U.S. always stood by its partners and allies in building an international order based on rules, and opposed ” the provocative actions of China with the other countries in the region.”

US President nominates Marc Evans Knapper as ambassador to Vietnam

April 18, 2021 by en.qdnd.vn

Along with Knapper – a career member of the Senior Foreign Service, class of Minister-Counselor, eight other diplomats have been nominated as ambassadors to represent the US in Somali, Algeria, Bahrain, Lesotho, Cameroon, Angola, Guinea-Bissau, and the Republic of the Congo.

Before assuming that position, Knapper was the Chargé d’Affaires a.i. of the US Embassy in Seoul, the RoK, and, prior to that, was the Embassy’s Deputy Chief of Mission. Earlier, Knapper was Director of the State Department’s Office of India Affairs and Director of the State Department’s Office of Japanese Affairs, the statement said.

His other assignments include leadership positions in the US Embassy in Baghdad, Iraq, and the US Embassy in Tokyo, Japan.

Knapper earned his BA from Princeton University and his MA from the Army War College.

He speaks Japanese, Korean and Vietnamese.

President Biden had earlier nominated outgoing US Ambassador to Vietnam Daniel Kritenbrink to serve as Assistant Secretary of State for East Asian and Pacific Affairs.

Source: VNA

8th Vietnam Book Day kicks off in HCM City

April 18, 2021 by en.qdnd.vn

Addressing the launch, Deputy Minister of Information and Telecommunications Hoang Vinh Bao said this marks a start of a series of events of this year’s Vietnam Book Day, a day to celebrate the reading habit nationwide.

Via the events, the organizers want to inspire a love for books among people around the country, encourage them to read more and make reading their habit, he said, adding that it will help spread the reading habit among the community.

A host of events, including a display of books about HCM City, a launch of books on digital transformation, and talks with renowned writers and poets, are scheduled on the Book Street from April 18 – 22.

Meanwhile, an online book fair is underway at book365.vn, featuring more than 70 domestic publishers and over 20,000 book titles. An online festival on book copyright will also take place from April 19 – 26, attracting around 50 domestic and international publishing houses.

Then Prime Minister Nguyen Xuan Phuc issued Decision No.284/QD-TTg on February 24, 2014, designating April 21 as Vietnam Book Day, in order to encourage a reading habit among the public.

Source: VNA

Four Thu Duc City bridges unable to bridge the gap

April 18, 2021 by e.vnexpress.net

Construction of Thu Thiem 2 Bridge spanning the Saigon River to link District 1 with the then District 2, which has now become a part of Thu Duc City, had started back in 2015. The bridge connects with Thu Thiem New Urban Area in Thu Duc City spans 1.4 kilometers long in total and comprises six lanes.

Construction of the Thu Thiem 2 Bridge spanning the Saigon River to link District 1 with District 2 (now part of Thu Duc City) started in 2015. The 1.4 kilometers long, six lane bridge would connect with the Thu Thiem New Urban Area.

Built with a cost of nearly VND3.1 trillion ($134.9 million), the project was originally scheduled to complete in 2018. As of last year, work on the project was 70 percent complete but construction on certain sections in District 1 continues to face delays since some of the required land belongs to the Ministry of National Defense.

Being built at a cost of nearly VND3.1 trillion ($134.9 million), the project was originally scheduled for completing in 2018. As of last year, work on the project was 70 percent complete but construction on certain sections in District 1 continues to face delays since some of the required land belongs to the Ministry of National Defense.

The cable-stayed bridge, with the main tower rising 113 meters high and leaning towards Thu Thiem and the artistic lighting design, has been expected to work as an architectural highlight on the Saigon River. Once completed, it will help connect the city’s heart of District 1 with Thu Thiem New Urban Area and ease traffic congestion at the intersections of Ton Duc Thang-Nguyen Huu Canh streets and Ton Duc Thang-Le Thanh Ton streets in District 1.Aside from the land clearance roadblock, the project has also faced issues in verifying both project volume and value with investor Dai Quang Minh Real Estate Investment JSC. For now, related agencies and departments are in the process of negotiating with the investor, as required by the Department of Transport earlier last month.

The cable-stayed bridge, with its main tower rising 113 meters and leaning towards Thu Thiem, is supposed to become an architectural highlight on the river with an artistic lighting design. Once complete, it will help connect the downtown HCMC with the Thu Thiem New Urban Area and ease traffic congestion at the intersections of Ton Duc Thang-Nguyen Huu Canh streets and Ton Duc Thang-Le Thanh Ton streets in District 1.

The bridge as seen from the side of Ton Duc Thang Street in District 1. It is expected that on April 15, work would resume on the bridge after the city authorities have worked with Dai Quang Minh and related parties to tackle all issues for the project so that it could be completed in 2023.

The bridge as seen from Ton Duc Thang Street in District 1. Work resumed on Thursday on the bridge after city authorities worked with Dai Quang Minh and others to tackle all issues so that the project can be completed in 2023.

In 2016, work started to build Nam Ly Bridge on Do Xuan Hop Street at the cost of VND857 billion to replace an old one that has been become degraded and way too small for the rising demand. Passing Rach Chiec Canal, the bridge is 450 meters long, 20 meters wide and was initially slated for completion in 2018 but by 2019, only 39 percent had been finished and the project has been put on hold ever since to wait for clear site.

In 2016, work began on the Nam Ly Bridge on Do Xuan Hop Street at the cost of VND857 billion. It was to replace an old one that had degraded and was too small to meet rising traffic demand. The 450m long, 20m wide bridge over the Rach Chiec Canal was to be completed in 2018, but in 2019, just 39 percent of the work had been done. The project has been put on hold since, awaiting site clearance.

Building materials turn rusty on the half-finished bridge.

Building materials rust on the half-finished bridge.

Wild grass grows all over barriers set around the foot of a bridge span that. Locals have even place several signboards to advertise their products and service on those barriers.

Wild plants grow around barriers set at the foot of a bridge span. Locals have begun using them to advertise various products and services.

Areas beneath the bridge have been turned into landfills.Tardiness in compensating affected households has led the problems in clearing site for the rest of the project. It is because the HCMC’s Department of Natural Resources and the city administration have yet to approve the compensation costs. For this issue, the authorities of Thu Duc City have proposed higher authorities to soon approve the compensation, promising that once that approval is made, Thu Duc will offer clean land plots for the project within six months.

Some areas beneath the unfinished bridge resemble landfills.

Six kilometers from Nam Ly, Tang Long Bridge on La Xuan Oai Street has been built since 2017 to span 680 meters across the Trau Trau Canal to replace an old, downgraded one nearby.

Six kilometers from Nam Ly, the Tang Long Bridge on La Xuan Oai Street is another one that has been languishing after work began in 2017. The 680 meters long bridge over the Trau Trau Canal is meant to replace an old, downgraded one nearby.

Costing VND450 billion, it is set to be completed in 2019 but by far, just more than 30 percent is done and the rest is being stuck at the step of clearing site.The issue of this project is related to adjustment in the geological border for the project that was made by the authorities of District 9 before the district was merged with districts 2 and Thu Duc to become Thu Duc City earlier this year. Now, the project’s management board said if Thu Duc City continues the job that District 9 has started and hands over the clear site soon, the bridge could be completed in 12 months.

The VND450 billion bridge was to be completed in 2019, but so far, only around 30 percent of the work has been done, site clearance proving to be the stumbling block, yet again.

Long Dai Bridge across the Tac River, a tributary of the Dong Nai River, was built in March 2017 at the cost of VND353 billion and for completion in two years. By now, its progress has reached just more than 50 percent as all the construction work has stopped since December, 2018.

Work on the Long Dai Bridge across the Tac River, a tributary of the Dong Nai River, began in March 2017. Built at a cost of VND353 billion, it was to be completed in two years. But two years after the original deadline, the bridge is far from completion with around 50 percent of the work remaining unfinished. Construction work on the bridge stopped in December, 2018.

The lateness in site clearance has been blamed for disagreement in compensation level. Thu Duc City came to life on Dec. 9 after the National Assembly greenlighted its establishment as a city within a city in HCMC. The new city was formed by merging three eastern districts - 2, 9 and Thu Duc. Spreading across 211 square kilometers, it houses more than a million people and is expected to contribute 30 percent of the city’s economic growth and 7 percent for the nations per year. Thu Duc is also expected to function as an innovative urban area encompassing the hi-tech park in District 9, the university precinct in Thu Duc District, and the new urban area and financial center on Thu Thiem Peninsula in District 2, helping fulfill HCMC’s plans to become a smart city.

The delay in site clearance has been blamed on disagreements over the compensation.

Will market continue its downward trend this week?

April 18, 2021 by bizhub.vn

Novaland Investment Group’s head office in Nguyen Du Street, District 1, Ho Chi Minh City. — Photo vinhomecitys.com

The market ended lower last week as many large-cap stocks faced selling pressure after the VN-Index hit a new high of over 1,255 points. Some analysts from securities firms expected that the market’s bullish trend will continue this week, while others were more cautious and see a downward trend dominating the market.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) fell 8.54 points, or 0.68 per cent, in Friday’s trade to 1,238.71 points. The index hit a record high of 1,255.87 points on Wednesday.

For the week, the index still rose slightly by 0.57 per cent, while foreign investors net sold a value of over VND2.4 trillion.

Analyst from Saigon – Hanoi Securities JSC (SHS) said that the third straight weekly gain of the market and a new record in liquidity showed investors’ big interest during this period. However, based on Elliott Wave Theory, the index was likely at the end of wave 5 last week and is about to turn to corrective waves with a closest target being around 1,135 points.

Therefore, a downward trend might influence the market this week, SHS added.

The index struggled and strongly fluctuated around 1,250 points, but failed to break through the level in the last session. The market breadth, besides some blue-chip stocks in real estate sectors and steel stocks, was negative last week.

Tran Xuan Bach, a senior stock analyst from Bao Viet Securities Company, also expected that the market might continue to be weighed by selling pressure this week.

“The VN-Index still receives support from the zone of 1,225 – 1,232 points in some early sessions this week,” Bach wrote in a daily report to customers.

“The market is likely to be influenced by some large-cap stocks, as well as a strong division of stock groups during this period.”

Meanwhile, analysts from Viet Dragon Securities Corporation (VDSC) were more optimistic about the market as large cash inflows into the market in the last session limited the losses.

Sharing the positive view, MB Securities JSC (MBS) said that the last session’s steep fall has boosted cash flows into the market for bottom fishing, creating a notable recovery.

On the technical front, the upward trend, which has extended over the last two months, will continue with the support territory in the short-term being 1,220 points, MBS added.

The HNX-Index on the Ha Noi Stock Exchange (HNX) also declined 1.02 per cent on Friday to 293.11 points. For the week, the index fell 0.23 per cent.

Real estate stocks posted outstanding performance last week as it went against the market’s trend in most sessions. Followed by material stocks.

Of which, Vingroup JSC (VIC), Novaland Investment Group Corporation (NVL) and Hoa Phat Group (HPG) contributed the most to help the market cap losses. These stocks climbed 16.29 per cent, 4.73 per cent and 4.46 per cent, respectively.

On the contrary, top three stocks influencing the market’s trend were Vietnam Rubber Group JSC (GVR), JSC Bank For Investment and Development of Vietnam (BID) and Vietnam Dairy Products JSC (VNM).

In general, Viet Nam’s stock market was not so positive last week despite the benchmark increasing slightly as selling pressure spread to all sectors and foreign investors net sold a value in the trillions of dong. — VNS