Thường Nhật Co. Ltd. on Monday started the first public river bus route in HCM City. Five public river buses are opened to service in HCM City on Monday. Photo Trần Xuân Tình The 10.8-km Bạch Đằng- Linh Đông route starts at Bạch Đằng Wharf in District 1, goes through Sài Gòn Pearl in Bình Thạnh District, Bình An and Thảo Điền in District 2, Tầm Vu and Thanh Đa in Bình Thạnh District, and Bình Triệu, Hiệp Bình Chánh and Linh Đông in Thủ Đức District with 12 stops en route. Five 80-seat boats have been deployed on the route, which takes around half an hour to cover compared to 45 minutes by road.   The … [Read more...]

Museums in HCM City will use 3D technology as part of a project launched by the Youth Union’s Youth Centre of Science and Technology Development. Wonders of technology: Museums in HCM City will use 3D technology for the Online Museum project to introduce Việt Nam’s history and culture to the world. VNS Photo Phương Mai Young artists and software designers at the centre have completed an Online Museum that produces 3D images featuring objects, paintings, photos and documents stored by museums.    The images, all of which are accompanied by sound and light effects, use real-time rendering technology to depict objects. Touchscreens on computers and smartphones can be used to search for information and write feedback during real-time discussions. The Online Museum not … [Read more...]

Viet Nam’s benchmark VN Index remained fragile on Monday, losing its positive momentum as investors remained cautious over the current market downtrend. Investors observe stocks move at MayBank Kim Eng Securities Company in HCM City. - VNA/VNS Photo Hoang Hai The benchmark index on the HCM Stock Exchange closed almost flat at 768.79 points. It finished last trading week at 768.97 points. Nearly 169.7 million shares were traded on the southern bourse, worth VND3.34 trillion (US$148.7 million). Monday’s trading volume was 13.5 per cent lower than that of Friday while trading value increased slightly. Large-cap stocks were to blame for pulling the main exchange down on Monday as half of the 30 largest companies by market capitalisation declined, causing the VN30 Index to fall nearly 0.1 per … [Read more...]

The ministry issued Circular No.23/2017/TT-BLDTBXH on granting work permits to foreign workers via the Internet on August 15. Accordingly, an application for work permit of a foreign worker in Vietnam must be lodged at least 20 days before the day the worker started working.  Foreign workers in Vietnam can apply for work permits online from October 2. Employers of the foreign worker must provide all required information of the worker to the competent authority and explain why the worker is needed. The competent authority must produce a response to the application via email within 12 days since the application is lodged. It also must detail reasons for rejecting the request. The number of foreigners working in Vietnam has increased significantly over the last ten years, the MoLISA reported. The number increased from more than 12,600 in 2004 to more than 83,500 in 2015, the ministry has said. … [Read more...]

The street is reserved exclusively for pedestrians from 7pm to 2am at weekends. During this time, vendors are allowed to display their merchandise on the pavement, but not on the road. Two stages for live music performances are also set up at the two ends of the street, promoting both Vietnamese folk songs and international music. Thousands of local and foreign tourists flocked to Bùi Viện Walking Street. Source: vietnamnews.vn In addition, tourists can enjoy free Wi-Fi services, public toilets and other tourist-related services. Foreign visitors have already praised the street for selling “cheap beer” and “providing good services”. Mahlet Christie from Australia said it was a very good idea to open the walking street. “We love it as everything here is so accessible. It was interesting to sit on the street watching everyone going past.” … [Read more...]

The two-day meeting held under the aegis of the Committee of Trade and Investment saw the presence officials from 21 APEC members and experts from international organizations. IEG Convener Maxim Berdichevsky said one of the big topics is the examination of next generations’ trade investment issues, which have been identified by APEC members as a matter for the future. Meeting of the Investment Experts’ Group (IEG) in HCM City on August 21.  “We want to make it easy for investors to move their capital within the region to optimize the supply chain and investment,” he told reporters. At the meeting, delegates also debated the latest domestic investment policy approaches to improving the investment climate. Australia proposed exchange of experience related to foreign investment with a particular focus on engagement with internal (business, Government, and wider community) and external … [Read more...]

Uber Vietnam’s representative said that its taxi brand UberX will raise fares in Ho Chi Minh City from August 24, closing up with traditional taxi fares. Reacting to pressure from the traditional taxi coalition led by Vinasun, Uber decided to raise fares in Ho Chi Minh City  In particular, UberX’s fare will increase from VND7,000 ($0.3) per kilometre to VND8,500 ($0.37) per kilometre in Ho Chi Minh City. Fare based on time stays unchanged at VND450 ($0.02) per minute, while the minimum fare and cancelation fee will still be VND15,000 ($0.66). Earlier, in November 2016, Uber has already raised prices once. Then the minimum fare increased from VND5,000 ($0.22) to VND15,000 ($0.66), and the kilometre charge increased from VND5,000 ($0.22) to VND7,000 ($0.3). Uber drivers still have to pay a 25 per cent commission … [Read more...]

NDO/VNA – An exhibition titled “The Peace Movement in Japan Supporting Vietnam during Wartime (1954 – 1975) and the Vietnam-Japan Friendship” opened at the HCM City War Remnants Museum on August 20. The two-month event is organised by the museum and Yamazaki Hiroaki 8-10 Project of Japan to celebrate Vietnam’s 72nd National Day and 25th anniversary of the establishment of the Vietnam – Japan Friendship Association. More than 200 photos and objects featuring Beheiren – The Peace Commission for Vietnam, an anti-war movement established in Japan to demand an end to the American War in Vietnam, are on display. They highlight the commission’s monthly anti-war rallies from 1965 to 1974 that saw thousands of people participate in cities like Tokyo and Oizumi. Books, posters, propaganda paintings and newspaper stories which were in support of Vietnam are all created by Beheiren members and will be showcased. There are … [Read more...]

Thousands of local and foreign tourists flocked to Bùi Viện Walking Street in the popular backpacker area of HCM City’s District 1 as it officially welcomed walkers at its grand opening last night. Hitting the street: Thousands of local and foreign tourists flocked to Bùi Viện Walking Street as it officially opened to tourists last night. - VNS Photo Bồ Xuân Hiệp The street will be reserved exclusively for pedestrians from 7pm to 2am at weekends. During this time, vendors will be allowed to display their merchandise on the pavement, but not on the road. Two stages for live music performances will also be set up at the two ends of the street, promoting both Vietnamese folk songs and international music. In addition, tourists will enjoy free Wi-Fi services, … [Read more...]

In a recently released conclusion to a meeting on tax law adjustments, Deputy Prime Minister Vương Đình Huệ asked that the Ministry of Finance’s (MoF) controversial new amendment drafts to tax laws be adjusted to meet both the national growth plan and the current economic climate. Workers at the HCM City Tax Department instruct tax payers during registration. - VNA/VNS Photo Hoàng Hải The MoF sought to make changes to the laws on Value Added Tax (VAT), Special Consumption Tax (SCT), Corporate Income Tax (CIT), Personal Income Tax (PIT) and Natural Resources Protection Tax (NRPT). Regarding the recent drafts, the Deputy PM said that revisions and amendments based on public and experts’ opinions, in compliance with other newly issued regulations from the National Assembly (NA), … [Read more...]

Earlier, numerous giants in the retail sector have entered the Vietnamese market and now, many of them are planning to enhance investment and expand their businesses to exploit market potential. HCM City’s annual retail promotion month gets bigger Vietnamese retail sector to flourish in AEC era Korean convenience store chain GS25 sets foot in Vietnam AEON MALL Binh Duong Canary Enhancing investment in Vietnam Recently, when talking with VIR, Yasuo Nishitohge, general director of AEON Vietnam Co., Ltd., said that Vietnam has great potential in the retail sector, so expanding business in the country is necessary. In early 2017, AEON Group signed an agreement to … [Read more...]

New adventurous tours in the northern province of Hà Giang will open soon, giving tourists all the more reason to visit. Breathtaking: A tourist looking down Tu Sản Canyon in Hà Giang Province. - Photo bp.blogspot.com This was unveiled at a conference to promote provincial tourism attended by local authorities and travel agents yesterday in Hà Nội. Lùng Khúy Cave, Chiêu Lầu Thi Peak and Tu Sản Canyon are three attractive destinations to be presented to travellers, according to Đặng Quốc Sử, director of the Hà Giang Tourist Information and Promotion Centre. Chiêu Lầu Thi is the second highest mountain in the province at 2,142m above sea level, Lùng Khúy is a newly-discovered cave with impressive stalactites, while … [Read more...]

The location of the Cai Lậy Build-Operate-Transfer (BOT) toll station on National Highway No 1 was appropriate, according to Deputy Minister of Transport Nguyễn Ngọc Đông. The location of the Cai Lậy Build-Operate-Transfer (BOT) toll station on National Highway No 1 was appropriate, according to Deputy Minister of Transport Nguyễn Ngọc Đông.- Photo zing.vn The official made the declaration at a feisty meeting on Thursday, which featured pointed questions from local media on the toll station in Tiền Giang Province. The toll station was temporarily suspended from operation on Tuesday due to strong opposition from drivers on August 13 and 14, only two weeks after it opened on August 1 with fees set at VNĐ35,000 ($1.5) to VNĐ180,000 ($7.8), depending on the … [Read more...]

NDO/VNA – Vietnam’s southern largest economic hub of Ho Chi Minh City and China’s Guangdong province hold a wide range of potential for stronger trade and investment ties, participants remarked at a conference held in the city on August 18. Chu Tien Dung, Chairman of the Ho Chi Minh City Enterprises Association, said that economic relations between Vietnam and China have been developing positively, laying an important foundation for HCM City’s businesses and their partners in Guangdong to step up trade and investment cooperation in the time ahead. Ho Chi Minh City wants to increase their two-way trade value with Guangdong, as the city has a lot of advantages in producing electronic equipment and components, wood and wooden furniture, agricultural and aquatic products, garments and textiles. Meanwhile, Guangdong enterprises have opportunities to export advanced machinery, as well as materials used in agricultural and industrial … [Read more...]

Bank stocks strengthened during Friday’s afternoon trade which rescued the VN-Index from another fall as investor sentiment remained fragile. Investors at the Vietcombank Securities Ltd. office in Ha Noi. - VNA/VNS Tuan Anh The benchmark VN-Index on the HCM Stock Exchange edged up 0.18 per cent to close Friday’s session at 768.97 points. It decreased 0.8 per cent on Thursday. Banks led the market rebound with five of seven listed lenders on the southern market advancing. Eximbank (EIB) rose by the daily maximum rate of 7 per cent, settling at 6.6 per cent to VND12,050 a share. BIDV (BID), the third largest listed bank by market value, increased 2.9 per cent, while the two biggest lenders – Vietcombank (VCB) and Vietinbank (CTG) – picked up by less than 1 per cent each. VPBank … [Read more...]

The Ministry of Finance (MoF)’s proposal to tax second and additional homes to restrict property speculation and oversupply would face challenges, experts have said. The Ministry of Finance (MoF)’s proposal to tax second and additional homes to restrict property speculation and oversupply would face challenges. - Photo enternews.vn Revenue from property tax makes up 2 per cent of GDP in OECD countries and 0.6 per cent in developing economies, according to the ministry. In Việt Nam, housing purchases have increased as average income per capita rose from US$1,400 in 2013 to $2,200 in 2016. It is expected to rise to $3,400 by 2020.There is no specific property tax law in the country, but there are taxes related to property such as the tax on agricultural and non-agricultural land use. However, the policies have not … [Read more...]

Prime Minister Nguyễn Xuân Phúc expressed his hope that Thai businesses would make the most of co-operation and investment opportunities in Việt Nam, especially in the context of Việt Nam promoting mergers and acquisitions along with the equitisation of State-owned enterprises (SOEs). Prime Minister Nguyễn Xuân Phúc addresses the “Việt Nam – Thailand Economic Cooperation Forum” held in Bangkok on Friday. - VNA Photo He made the remarks while addressing the “Việt Nam – Thailand Economic Co-operation Forum” held in Bangkok on Friday. PM Phúc was attending the event as part of his three-day visit to Thailand from August 17-19 at the invitation of Thai Prime Minister Prayut Chan-o-cha. The forum, hosted by the Thai Business Association … [Read more...]

A similar event was held in HCM City on August 15. According to Nguyen Thanh Hung, President of the Vietnam E-commerce Association (VECOM) – the event’s organizer, Vietnam’s e-commerce market has seen robust growth since 2016 but the industry still has many problems, including a lack of consumer trust in online shopping and weaknesses in online payment, shipping and marketing services. Photo for illustration  The forum, focusing on marketing trends, discussed affiliate marketing trends and search engine marketing, programmatic marketing, multichannel marketing, mobile marketing, social marketing and content marketing. During the event, speakers discussed opportunities for partnerships in online marketing and advised enterprises on adopting the right marketing strategy and improving marketing effectiveness, Hung said. The Vietnam e-Business Index 2017 reported by VECOM indicated that social … [Read more...]

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. - Photo money.usnews.com 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 … [Read more...]

Around 2,600 delegates from 21 APEC member economies have arrived in HCM City for the third APEC Senior Officials’ Meeting (SOM 3) which begins today. Around 2,600 delegates from 21 APEC member economies have arrived in HCM City for the third APEC Senior Officials’ Meeting (SOM 3) which begins today. - Photo apec.org The event, slated to last until the end of the month, will feature 75 meetings, seminars, and dialogues involving four committees and dozens of working groups of the Asia-Pacific Economic Co-operation (APEC). The Transportation Working Group will meet today for the 10th APEC Port Services Network Meeting. Other meetings today include the APEC Network on Anti-Corruption Authorities and Law Enforcement Agencies, the Impact of Government Policy Instruments on Promoting New Energy Vehicles, … [Read more...]