VIDC as an honorably FDI company is always open to discuss and solve problems in an amicable and fair way. But VIDC will not be forced by any wrongful and illegal actions. VIDC will do everything including taking all necessary legal actions to seek redress for all the wrongful and illegal acts committed against the company. VIDC ultimately is confident in the Vietnamese legal system and public fairness at large to distinguish between true facts and fabricated falsehood.The following illegal actions and wrongful acts by Mrs. Tran Thi Dung & Mr. Nguyen Chan Phuong are fully supported by recorded facts, official documents, contract documents and clear solid evidence:On date, 24th November 2011, Mrs. Tran Thi Dung signed SPA (Sales & Purchase Agreement) No. 153/SPA-TH-VIDC with VIDC to purchase Unit 6/5/TH4B(M) at Nadyne Gardens (former Ngoc Lan Residences).Mrs. Dung is the wife of Nguyen Chan Phuong who was the Deputy General Director (Deputy GD) of VIDC representing the local JV … [Read more...] about VIDC-customer dispute- What is the truth?
Given exhibit 7 1 what is the expected return
The growth of the Vietnamese economy still heavily depends on capital and labor-intensive sectors where the effectiveness of investment remains low Economic slowdown At a recent workshop themed ‘The Vietnamese economy towards 2025: Opportunities and challenges’, Deputy Minister of Industry and Trade Nguyen Chi Dung worriedly that Vietnam was facing the risk of dropping back among the lowest 10 Southeast Asian countries in terms of per-capita income. Currently, the per-capita income of Vietnamese people is just higher than that of Laos, Cambodia and Myanmar, and if these countries continue to open their economies, they will move ahead of Vietnam in terms of gross domestic product (GDP) in the next three to five years. Looking at Vietnam’s economic picture in recent years, one can see what has made Deputy Minister Nguyen Chi Dung concerned. In the 2000-2005 period, Vietnam achieved an average economic growth rate of seven percent per year. This … [Read more...] about What is the driving force of the Vietnamese economy?
Germany's forward Miroslav Klose (3R) celebrates with teammates after a goal against the hapless Brazilians. BELO HORIZONTE: Brazil's World Cup dream was smashed into oblivion as majestic Germany ran riot to win an extraordinary semi-final 7-1 and send the South American hosts crashing to their worst ever defeat in their 100-year footballing history. Sixty-four years after Brazil was plunged into national mourning after their loss in the 1950 final, the hosts were torn apart in a defeat likely to be every bit as traumatic as the fabled "Maracanazo." Germany advanced to Sunday's final in the Maracana after a brilliant first-half blitz which included a burst of four goals in six devastating minutes. Thomas Mueller opened the scoring on 11 minutes, punishing poor Brazilian marking at a corner to make it 1-0. Brazil, badly missing suspended captain Thiago Silva, tried to regroup but there was no respite. Miroslav Klose's cool finish on 23 minutes -- which made him the World Cup's all-time … [Read more...] about World Cup: Germany inflict historic 7-1 thrashing on Brazil
I didn’t mean to ask whether Vietnamese people care about education or not, because they obviously do. In every Vietnamese family, there is no more important topic than the children’s studies. Besides earning a living, there is no chore that takes up more time than supervising children’s studies. In terms of family spending, education is probably second only to food. To put it simply, people’s interest in education is undoubtable. What I was asking was which kind of education, which outcomes from education, do we Vietnamese care about, both at home and at school? I have a feeling that the majority of Vietnamese people think of education as a way to give their children a good life, to earn decent money, and in the best-case scenario to become a state official. Few of them deny this purpose. The children usually understand this and do appreciate what they are given. They are also no strangers to their parents’ corrupt practices, such as paying bribes to get … [Read more...] about What is the purpose of an ‘authentic education’
However, this is no call for celebration yet. Stormy waters still lie ahead for foreign investors and domestic companies as one of these three matters may pave the way to tighter controls and stricter management over foreign capital and share transfers in domestic companies. The relevant governing laws The procedures for these transfers (or “acquisitions”) had been touched upon by numerous legal instruments including the Law on Enterprises, Law on Investment, Decree No. 108/2006/ND-CP and Decision No. 88/2009/QD-TTg.However, in the past, no detailed, uniform procedures for such acquisitions have been comprehensively covered by any legal instrument. At some point in time, there existed numerous guidelines from various licensing authorities within Vietnam, thereby creating difficulties for any investors wishing to engage in these acquisitions.The most recent Government … [Read more...] about What is the solution for M&A procedures of foreign investors in domestic companies?
Among three traditional investment channels of gold, real estate and securities, investment in gold remains less profitable than other areas because the gold price of Vietnam and of the world has not shown signs of recovery. Therefore, the only remaining real estate and the stock are still in the game. But, which investment channel will be most profitable in 2015 is still a question for both investors and professionals now. Gold market and foreign currencies bleakAt the seminar on the world's economy and the Vietnamese economy in 2014 and prospects in 2015, organised by Vietnam Prosperity Bank (VP Bank), many participants had analysis on current investment channels regarding gold and savings, real estate, and securities; some of ideas draw great attention of the investors.According to the representatives of the VP Bank Securities (VPBS), the price of gold has declined sharply during the recent time. This proves that gold is losing its appeal to investors. In the third quarter, 2014, … [Read more...] about What Is the Most Effective Investment Channel in 2015?
Although fertiliser is in the list of price stabilisation commodities, its selling price has recently been changing day by day, even three times a day. To deal with this problem, it requires not only administrative orders by State authorities but also the balance of supply and demand, said a top official from the Ministry of Industry and Trade in a recent seminar on fertiliser price stabilisation.According to the Ministry of Industry and Trade, in the first quarter of 2011, besides a rise in output, prices of fertilisers also increased significantly. Specifically, urea fertiliser price climbed 18.3 percent; phosphate, 2.6 percent; NPK, 37.9 percent; and DAP fertiliser, 66.3 percent. Prices will keep risingThe main reason for the volatility of fertiliser prices since the beginning of this year is heavy reliance on imports. For example, some types of urea fertiliser are imported more than 50 percent; SA and potassium are wholly imported; and 80 percent of DAP fertiliser is made up … [Read more...] about Rising Fertiliser Price: What Is the Best Solution?
VietNamNet Bridge - Experts estimate that 66 percent of computers in Vietnam have been infected with malware, which is a “relatively high” percentage, said Nguyen Huy Dung, deputy head of the Information Security Department. The department, analyzing the reports of some domestic and foreign institutions , concluded that 66 out of every 100 computers in Vietnam have been attacked by malware. Meanwhile, malware existing in computers at state agencies will cause immeasurable consequences. Dung said hackers attack computers at state agencies by sending emails with malware to agency officers. When the malware gets into the computers, it will infect other computers of the same networks and collect important information or change the interface of the websites. Recently, hackers have begun using social networks as an instrument to deploy attack campaigns. They forge information sources and show counterfeit URLs that make people think they have access … [Read more...] about What is the solution for malware-infected computers in Vietnam?
VietNamNet Bridge – Every field has its “tycoons”, including the world of art. Famous contemporary painters have made enormous sums of money, but there is little information about them in newspapers. A painting by Nguyen Thanh Binh. Sometimes you can read a short piece of news about a Vietnamese painter whose artworks were auctioned overseas. However, according to the professionals in the industry, the sale of paintings and development trends of art are different. The painting market in Vietnam boomed in the early 90s and lasted until the early 2000. The ranking of Vietnamese contemporary artists began to be distinguished clearly, not by local experts, but by foreign galleries or international exhibitions. The value of a painting might reach a towering number. The change in the art market created a new vitality in the art scene. In that context, promising faces became hot names, including Pham Luan, Le Thanh Son, Hong Viet Dung, Nguyen Thanh Binh, Do Quang Em, Ha … [Read more...] about What is the status of Vietnamese contemporary art?
VietNamNet Bridge - The VND9.3 trillion national program on teaching foreign languages at general schools by 2020 has spent VND5.4 trillion so far. However, MOET admitted that the goals of the program may be unattainable by 2020. In September 2008, the Prime Minister approved the national foreign language teaching program which aimed to ‘comprehensively renovate the teaching and learning of foreign languages in the national education system’. Under the program, by 2020, the majority of young people finishing intermediate schools (2-year training) and junior colleges, would be able to use foreign languages well, and be confident in communication, learning and working in the multi-lingual, multi-cultural environment. All foreign language majoring university graduates would have fifth-level standard, while 70 percent of other students will have the third level. However, the disbursement is the only thing that has been fulfilled, with VND5.4 trillion having been spent so … [Read more...] about What is the fate of the $423 million foreign-language teaching program?