Hanoi (VNA) – Hoa Phat Group (HPG) expects to hand over apartments of the Mandarin Garden 2 to buyers at the end of this year. Mandarin Garden 2 covers an area of nearly 13,000 sq.m  with four buildings of between 17 and 30 storeys.  The 1.5 trillion VND (66 million USD) project has 640 apartments. In the first half of this year, HPG earned more than 21 trillion VND (924 million USD) and posted after-tax profit of 1.53 trillion VND (67.3 million USD), up 36 percent and 14 percent year-on-year, respectively. The group’s performance during the reviewed period was mainly driven by construction steel and steel pipes. It produced more than 1 million tonnes of construction steel, representing a year-on-year rise of 33 percent against the same period last year, completing more than half of the yearly target. Since the beginning of this … [Read more...]

“Strong manufacturing and FDI, an improving construction sector, and robust domestic demand continue to underpin activity [in Vietnam],” Mr. Ranil Salgado, Assistant Director, Asia and Pacific Department at the International Monetary Fund (IMF), told the recent launch of its World Economic Outlook (WEO) Update in Kuala Lumpur, Malaysia. He added that the country’s headline inflation reached 5 per cent year-on-year in late 2016 - early 2017, reflecting rises in health and education cost, and had fallen close to the 4 per cent target by June this year. The IMF forecasts that Vietnam’s growth will be 6.3 per cent in 2017 and the same in 2018. Higher long-term growth would require more forceful reforms to create a level playing field for the private sector, upgrade the country’s institutions, and reorient its growth model, to be led by the private sector, before rapid aging sets in, according to … [Read more...]

The ADC has been investigating zinc-coated steel imported from India and Malaysia. However, only the probe on Viet Nam’s steel has been terminated partially. — Photo hoasengroup.vn Australia’s Anti-Dumping Commission (ADC) has announced a partial rescission of its anti-dumping, anti-subsidy investigation on Vietnamese zinc-coated (galvanised) steel. The ADC, under Australia’s Department of Industry, Innovation and Science, has also been investigating zinc-coated steel imported from India and Malaysia. However, only the probe on Viet Nam’s steel has been terminated partially. Viet Nam’s Ministry of Industry and Trade (MoIT) said the ADC concluded that Vietnamese galvanised steel producers and exporters received countervailable subsidies from the government during the investigation period, but the subsidies were at negligible level. Therefore, … [Read more...]

ASEAN enjoys half century of dynamic, comprehensive development (Source: asean.org) Hanoi (VNA) – After 50 years of development, the Association of Southeast Asian Nations (ASEAN) has been internationally recognised as a comprehensive regional cooperative organisation and a cohesive and dynamic political-economic entity that contributes to global connectivity. The association has an important role and position in the Southeast Asian and Asian-Pacific regions with profound political, economic, cultural and social influences.  A spirit of solidarity, consensus and mutual support and respect, along with harmonious combination of national and community interests have helped enhance the association’s position. Over the past half century, ASEAN has proved itself a leading factor in ensuring a peaceful environment, security and cooperation for regional development, … [Read more...]

GoBear Vietnam is to launch unsecured loan awareness page on website gobear.com/vn/campaign/vaytienmat. GoBear is Asia’s first and only metasearch engine in insurance and banking products The new awareness page from GoBear Vietnam provides users with a tool to quickly search for unsecured loan offers from professional finance companies in Vietnam, with simple procedures and rapid disbursement time. This tool is designed mainly to help unbanked users, who account for 70 per cent of Vietnam’s population, to save time and efforts when searching for unsecured loan offers that best fit their needs. On this occasion, Tran Nhat Khanh, GoBear Vietnam country director, said: “Unsecured loan is a feasible financial product for most Vietnamese users, especially those who are unbanked or being cash salaried. They cannot … [Read more...]

Vietnam’s hotel segment continues to attract a great deal of capital to serve the booming tourism sector. General manager of Pullman Saigon Central Tony Chisholm said that Accor Hotels has plans to increase its current footprint of 26 hotels to 40-45 hotels by the end of 2019, half of which will be situated in resort locations. “We are changing our strategy to attract middle-income Vietnamese into our hotels. With rising disposable incomes, Vietnamese are increasingly choosing upscale hotels to experience international service and quality. Local tourists are now our third-ranking market segment, something we never thought would be possible 10 years ago,” Chisholm said. Tao Quang Nghe, chairman of Odyssea Hospitality, said that there is a growing trend among domestic guests to stay at upscale local and international hotels. For example, Muong Thanh Group has attracted many Vietnamese … [Read more...]

General manager of Pullman Saigon Central Tony Chisholm said that Accor Hotels has plans to increase its current footprint of 26 hotels to 40-45 hotels by the end of 2019, half of which will be situated in resort locations. “We are changing our strategy to attract middle-income Vietnamese into our hotels. With rising disposable incomes, Vietnamese are increasingly choosing upscale hotels to experience international service and quality. Local tourists are now our third-ranking market segment, something we never thought would be possible 10 years ago,” Chisholm said. Tao Quang Nghe, chairman of Odyssea Hospitality, said that there is a growing trend among domestic guests to stay at upscale local and international hotels. For example, Muong Thanh Group has attracted many Vietnamese guests to their premium hotels. In addition, Vietnam is striving to turn the … [Read more...]

Worker operates a steel press at the Phu My I Industrial Zone in Ba Ria-Vung Tau Province. — VNA/VNS Photo Trang Duong The Viet Nam Competition Authority (VCA) under the Ministry of Industry and Trade (MoIT) will continue to receive requests from manufacturers, traders and others seeking to ease or lift the anti-dumping tax on imported cold-rolled stainless steel from China, Indonesia, Malaysia and Taiwan until July 31, 2017. On September 5, 2014, the MoIT issued a decision to impose anti-dumping duties on several cold-rolled stainless steel products imported to Viet Nam from China, Indonesia, Malaysia and Taiwan. The first review was concluded on April 29, 2016. After the first review, the anti-dumping duty on cold-rolled stainless steel imported from China-based Shanxi Taigang Stainless Steel Co Ltd was hiked from 6.58 per cent to 17.47 per cent, and from between 4.64 and 6.87 per cent to 25.35 per cent for other Chinese … [Read more...]

Vietnam’s national U15 team returned home on July 23 with the ASEAN Football Federation (AFF) Under-15 Championship trophy held in Thailand. Vietnam team celebrates with the AFF Under-15 Championship trophy in Thailand The team beat hosts Thailand 4-2 on penalties to lift only their second crown in the 13-year history of the meet on July 22. “The final between Vietnam and Thailand is over, but I still get the happy feeling. My players beat Thailand on Thai ground. This win is dedicated to all the Vietnamese fans,” coach Vu Hong Viet said to the media at Noi Bai International Airport. "There is no secret to the Vietnam team’s success, but it was my players’ confidence that worked. During the training sessions, before and after every match, I would often tell them ’the training board believes in you, and you will take the title, although your rival is Thailand’,” Viet … [Read more...]

VietNamNet Bridge – A series of Vietnamese art films have been released in recent years, many of which have won international prizes and been highly appreciated by film critics. However, the genre has not yet gained popularity as it has not drawn much interest from domestic viewers and has often been doomed to financial failures. Film for art or film for commercial At least five art films have been released in the second quarter of this year, including ‘Cha Cong Con’(Father and Son), ‘Lo To’ (The Lottery), ‘Co Can Nha Nam Nghe Nang Mua’ (Motherhood), ‘Da Co Hoai Lang’ (Two Fellow Countrymen), and ‘Dao Cua Dan Ngu Cu’ (The Way Station). Based on novels, drama, or inspired from documentaries, the films tell stories of people’s tragedies. However, they have not reached the expected revenue, even the film ‘Father and Son’ lost VND 5 billion (US$220,000) as its total budget was VND 18 billion … [Read more...]

The team beat hosts Thailand 4-2 on penalties to lift only their second crown in the 13-year history of the meet on Saturday. “The final between Vietnam and Thailand is over, but I still get the happy feeling. My players beat Thailand on Thai ground. This win is dedicated to all the Vietnamese fans,” coach Vu Hong Viet said to the media at Noi Bai International Airport. "There is no secret to the Vietnam team’s success, but it was my players’ confidence that worked. During the training sessions, before and after every match, I would often tell them ’the training board believes in you, and you will take the title, although your rival is Thailand’,” Viet said. "The confidence and focus helped Vietnam develop their fitness, as well as improved their skill and raised their spirits during the match, and they triumphed in the … [Read more...]

NDO – The 46th meeting of ASEAN National Tourism Organisations (NTOs) opened in the northern province of Vinh Phuc on July 24, gathering over 100 delegates, leaders and officials from ASEAN tourism authorities, the ASEAN Secretariat and the ASEAN Tourism Association. Speaking at the opening, head of Vietnam National Administration of Tourism (VNAT), Nguyen Van Tuan, affirmed that ASEAN holds great potential for tourism development. In 2016, the region recorded a record high of 113 million visitors, an increase of 7% compared to 2015. In 2016 Vietnam welcomed 10 million international visitors, an increase of 26%; in the first six months of 2017, the country has received 6.2 million arrivals, up 30% - an unprecedented growth in the number of international visitors to Vietnam. The ASEAN cooperation is especially important for tourism in Vietnam. Over the past few years, the ASEAN tourism markets have contributed approximately 15% of the total number of international … [Read more...]

Vietnam team celebrates with the AFF Under-15 Championship trophy in Thailand (Photo vff.org.vn)     Hanoi (VNA) – Vietnam’s national U15 team returned home on July 23 with the ASEAN Football Federation (AFF) Under-15 Championship trophy held in Thailand. The team beat hosts Thailand 4-2 on penalties to lift only their second crown in the 13-year history of the meet on July 22. “The final between Vietnam and Thailand is over, but I still get the happy feeling. My players beat Thailand on Thai ground. This win is dedicated to all the Vietnamese fans,” coach Vu Hong Viet said to the media at Noi Bai International Airport. "There is no secret to the Vietnam team’s success, but it was my players’ confidence that worked. During the training sessions, before and after every match, I would often tell them ’the training board … [Read more...]

Two months after Islamist militants launched an assault on one of the biggest southern cities in the Philippines, the fighting is dragging on, and President Rodrigo Duterte says he is prepared to wait for a year for it to end. The defence top brass admits it underestimated its enemy and is struggling to finish off the highly organised, pro-Islamic State fighters who swept through Marawi City on May 23 and have held parts of it despite sustained ground attacks by hundreds of soldiers and daily pummelling by planes and artillery. On Saturday, lawmakers approved Duterte's request to extend martial law to the end of the year on the island of Mindanao, granting greater powers to security forces to go after extremists with a reach that goes far beyond Marawi. But it remains unclear how exactly Duterte plans to tackle extremism after troops retake Marawi, where about 70 militants remain holed up in the debris of what was once a flourishing commercial district, along with many … [Read more...]

Indonesia's navy shot and wounded four Vietnamese fishermen aboard a fishing boat in the South China Sea (which Vietnam calls the East Sea) aat the weekend, Vietnamese authorities said. The Vietnamese boat was about 132 nautical miles (245 km) southeast of Vietnam's Con Dao Island when the fishermen were shot on Saturday night, the Binh Dinh provincial search and rescue committee said on its website. Disputes over fishing rights and oil drilling have stoked tension in the East Sea, through which about $5 trillion in goods is shipped each year. China claims almost the entire sea, but Brunei, Malaysia, the Philippines, Vietnam and Taiwan also have claims. Although Indonesia says it is not a party to the dispute, it recently renamed the northern reaches of its exclusive economic zone, asserting its own maritime claim. The coordinates given by the Vietnamese indicated that the shooting happened close to the area Indonesia now calls the North Natuna Sea. The Vietnamese … [Read more...]

Ambassadors of ASEAN in Italy take photo at the meeting (Photo: VNA) Rome (VNA) – The Embassy of Vietnam has fulfilled its missions of increasing the role and position of ASEAN in Italy while chairing the ASEAN Committee in Rome (A​CR) in the first half of 2017. This is the evaluation of the Ambassadors from the ASEAN member countries at a meeting in Rome on July 21 for Vietnam to hand over the ACR Chair to Ambassador of Thailand to Italy Tana Weskosith. During its term, the Vietnamese Embassy focused on forging relations between ACR and the Italian government, legislature, and localities. The Southeast Asian country also shared its experience in expanding inter-regional cooperation via working trips to Ancona city and Marche region. Ambassador Cao Chinh Thien said the Vietnamese Embassy will continue actively coordinating with the new Chair to … [Read more...]

A research by Kantar Worldpanel Vietnam shows that private-label products account for only 0.6% of total commodities at supermarkets in Vietnam compared to 50% in France, said Nguyen Huy Hoang, commercial director of the company. However, the domestic rate is not too low compared to that in other Asian countries with 1.2% on average. The Republic of Korea and Malaysia are among countries with high rates of 2.7% and 2.2% respectively while the Philippines, Indonesia and China have a very low rate of 0.2%. Hoang attributed the low rate of private-label products in Vietnam to the limited number of modern distribution channels, currently accounting for only 13%. The research by Kantar Worldpanel also reveals that 38% of Vietnamese consumers choose private-label products due to the strong confidence in retailers.  Some common products are detergents and toilet … [Read more...]

NDO – After holding hosts Thailand to a 0-0 draw after 90 official minutes of the final of the 2017 ASEAN Football Federation (AFF) U-15 Championships, Vietnam defeated their strong rivals 4-2 in a dramatic penalty shootout to win the title of the tournament on July 22. Goalie Duy Dung was the hero for U-15 Vietnam as he successfully saved two penalties from the Thai players. Meanwhile, four of his teammates did their job, giving Thai goalkeeper Tewweesri no chance. This is the first time a Vietnamese football team has been crowned champions in a U-15 Southeast Asian championship. Entering the final, both teams had six wins in the tournament. Vietnam had conquered defending champions, and favourites for the championship, Australia, 2-0 in the semi-finals. In the group stage, Coach Vu Hong Viet’s team had five convincing wins against Cambodia 2-1, Brunei 2-1, Philippines 7-0, Malaysia 1-0 and Timor Leste 4-0. Meanwhile, Thailand … [Read more...]

The street has been known as an antique centre, displaying fine art objects, either genuine or fake, in about 30 shops, along with other items for sale on the pavements. There is a wide range of wood and stone statues, porcelain and bronze items from small coins and pots only several centimetres high to large things like vintage electric fans and antique furniture. Visitors can see ancient ceramic pots, bowls and plates inlaid with mother of pearl, and jars full of jagged coin chains being stuck together in blocks, which are said to have been salvaged from ancient shipwrecks hundreds of years ago. Many shops sell genuine antiques found somewhere near Chàm Island off the coast of Bình Thuận province. They include plates, pots, jars, and even the priceless “Nội phủ trân chế” plates that were used by the royal family during the Nguyễn dynasty. Most shop owners are professional antique collectors. They offer things at fixed prices and spare little time for customers who want to … [Read more...]

You can travel easily to the traditional craft village, which is about 15 km in a straight line from the city centre, by bus, taxi, motorbike, or even by bicycle, if you have the stamina! The first thing I do when I arrive in the village, even before visiting the shops, is to pay my respects at the village temple. The temple, which is shaded by a huge, ancient tree, honours La Thi Nga (Lu Shi E), a Chinese woman who brought the art of silk making to Vietnam. Nga was born in Hangzhou, an area famous for silk-weaving since the Warring States Period. It is said that Nga lived and visited Vietnam during the time of the Tang Dynasty. Becoming attached to this beautiful land, she decided to stay and teach local people how to raise silkworms and weave silk. Her legacy has taken hold in Van Phuc for over 1000 years. Previously, Vietnam did not produce enough silk to meet domestic demand, so silk was often brought from China. But Van Phuc silk may have changed this trend. According to the … [Read more...]