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NA Chairman examines election preparations in Quang Ninh

April 14, 2021 by en.vietnamplus.vn

NA Chairman examines election preparations in Quang Ninh hinh anh 1 NA Chairman Vuong Dinh Hue inspects election preparations at the first constituency of the 2B street, Hong Hai ward, Ha Long City in Quang Ninh (Photo: VNA)

Quang Ninh (VNA) – National Assembly (NA) Chairman Vuong Dinh Hue on April 14 examined preparations for the elections of deputies to the 15th legislature and members of all-level People’s Councils for 2021-2026 in the northern coastal province of Quang Ninh.

Talking to local voters, Hue, who is also Chairman of the National Election Council (NEC), highlighted the important role of them in selecting NA deputies and People’s Councils members and asked them to make wise choices.

He and a delegation of the NA Standing Committee and the NEC also held an online working session with election committees at provincial and district levels.

NA Chairman examines election preparations in Quang Ninh hinh anh 2 At the working session (Photo: VNA)

As heard at the event, Quang Ninh will hold the third political consultative conference at provincial level on April 16, and those at district and commune levels before April 18.

To date, the lists of constituents have been publicly posted in 177 communes, wards and towns as well as in 1,438 constituencies for voters to check.

After hearing reports at the function, the NA Chairman commended Quang Ninh’s preparations of the elections. He underscored that the elections must be held in line with regulations and bring into full play the people’s right to mastery, with publicity, transparency, and absolute safety ensured in all circumstances for people to exercise their citizens’ rights.

He suggested Quang Ninh continue to review and update the lists of constituents in accordance with the law to ensure citizens’ rights according to the Constitution.

Hue expressed his belief that the province will successfully host the elections./.

VNA

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Various activities to be held at Reunification Festival in Quang Tri

April 14, 2021 by en.nhandan.org.vn

The festival has been organised annually to mark the Liberation of South Vietnam and National Reunification Day.

This year’s event will include an incense offering to heroes and fallen soldiers on April 29, a flag-raising ceremony and a boat race on the Ben Hai river on April 30.

The festival will be followed with the launch of a sea tourism programme themed ‘Call of the Sea’ at Cua Viet tourist site.

Taking place from April 30 to May 5, the programme will feature art performances, a conference on Quang Tri province’s tourism development, a farm trip to cultural and historical sites in the province, booths showcasing local signature dishes, and a cooking contest.

Many exciting sporting events and folk games will also be held during the programme, such as a beach volleyball tournament, a stick pushing contest, and tug of war.

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Vietnam extradites four illegal Chinese entrants

April 14, 2021 by vov.vn

Earlier border guards operaring in Mong Cai City of Quang Ninh province that borders China had arrested four Chinese citizens attempting to cross the border into Vietnam.

The arrest was made on March 28 while the four Chinese citizens was travelling by car on National Highway 18A in Cong Hoa commune of Cam Pha City.

Searching the vehicle, the police found the four Chinese suspects had not brought with them any legal immigration papers.

The Chinese nationals confessed that they had planned to enter Vietnam and then travel to Cambodia for employment.

The police moved swiftly to place the group into quarantine in an effort to prevent the possible spread of the novel coronavirus (COVID-19). In addition, the Chinese nationals were also fined VND4 million each.

Filed Under: Uncategorized handed over, Chinese citizens, illegally entering, Guangxi province, China, border guards, Quang Ninh province, immigration papers, COVID-19, quarantine, ..., vietnam korea chinese, extradited meaning in chinese

JICA gives recommendations on development of Da Nang’s port

April 14, 2021 by en.qdnd.vn

In their end-of-term report, JICA experts identified the urban planning for the area surrounding Lien Chieu Port, a transport connectivity plan, a plan to find suitable locations for terminals, the feasibility of a public-private partnership, a model for effective management and operation of this port, and an appropriate investment plan harmonising interests of both State and private sector.

Vice Chairman of the Da Nang People’s Committee Le Quang Nam said the Prime Minister, in his decision to give the in-principle approval, requested the municipal People’s Committee to promptly carry out procedures to select capable investors to build and run terminals of Lien Chieu Port in line with legal regulations.

He said JICA’s participation and assistance in preparing for the project are highly necessary that will create a prerequisite for the development of this port.

Shimizu Akira, Chief Representative of the JICA Vietnam Office, said Lien Chieu Port should be put into use as soon as possible, adding that the consultancy group will take into account the city’s opinions to perfect the port development plan.

He also expressed his hope for continued cooperation from local authorities in this issue.

The common infrastructure component of the Lien Chieu Port project was approved in principle by the Prime Minister on March 25, 2021, aiming to build infrastructure for common use in the port so as to create a foundation for developing a seaport in the Lien Chieu area.

It is expected to have total investment of more than 3.4 trillion VND (147.4 million USD) and be carried out from 2021 to 2025.

Source: VNA

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Semiconductor crisis forces top-level action

April 13, 2021 by www.vir.com.vn

1539 p11 semiconductor crisis forces top level action
Semiconductor crisis forces top-level action. Source: freepik.com

The world’s semiconductor industry sales hit $40 billion for the month of January – a rise of 13.2 per cent on-year, revealed the Semiconductor Industry Association.

Now, consumers are having to deal with price hikes and a lack of products from automobiles and videogames to TVs and smartphones as a global shortage in semiconductors grows.

The shortage in chips, the so-called “brain” within every electronic device, has been slowly getting worse since last year, according to The Guardian. Temporary delays in supplies as factories shut down due to the coronavirus pandemic caused initial issues. However, although production is somewhat back to normal, surges in the demand driven by new habits stemming from the pandemic is causing the situation to worsen.

Mainly, a boom in sales of TVs and computers, the launch of brand new videogame consoles, and arrival of 5G-enabled mobile phones have all driven the demand.

The crisis has even affected Apple, the biggest buyer of semiconductors at $58 billion annually. It was forced to delay the launch of the iPhone 12 by two months last year as a result of the shortage.

“Chips are everything,” said Neil Campling, media and tech analyst at Mirabaud. “There is a perfect storm of supply and demand factors going on here. But there is a new level of demand that can’t be caught – everyone is in crisis and it is getting worse.”

In possibly the most shocking development, Samsung – the world’s second-largest buyer of chips – last month said it might have to postpone the launch of a high-end smartphone, despite also being the world’s second-largest producer of chips.

“It is incredible that Samsung sells $56 billion of semiconductors to others, and consumes $36 billion of them itself, finds it may have to delay the launch of one of its own products,” said Campling.

Ford meanwhile recently cancelled shifts at two car plants and said profits could be hit by up to $2.5 billion this year due to chip shortages, while Nissan is delaying output at plants in both the United States and Mexico. General Motors also said it could face a $2 billion profit hit.

In February Sony, which along with other console makers has struggled with stock shortages over the last year, said it might not hit sales targets for the new PlayStation 5 this year. Its rival, Microsoft’s Xbox, forecasts supply issues continuing at least until the second half of the year.

In a bid to unblock the jam, governments are now getting involved. CNBC reported a fortnight ago that US President Joe Biden is looking to place $37 billion into the sector in an attempt to lower America’s reliance on overseas supply chains. Biden said at the end of March, “We shouldn’t have to rely on a foreign country to provide for our people. We need to sharpen America’s competitive edge by investing here at home.”

But countries including the US and Germany have also reached out to Taiwan to help remove bottlenecks in production. Along with the pandemic, the new administration believes the semiconductor shortage was exacerbated by the previous president’s actions against China.

“Manufacturing of microelectronics in the US has reached a historic low, and this is a big problem for us,” said Terry Halvorsen, IBM’s general manager for Client and Solutions Development.

Taiwan dominates the outsourcing of semiconductor manufacturing. Its contract manufacturers together accounted for more than 60 per cent of total global revenues in the field in 2020, according to Taipei-based research firm TrendForce. Much of its dominance is due to Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC), the world’s largest foundry. TSMC accounted for 54 per cent of all revenues via outsourcing of semiconductor manufacturing globally last year.

Dan Wang, a technology analyst at research firm Gavekal said, “Looking at market share, TSMC manufactures around 50 per cent of all semiconductors in the world – and I think that still understates how important it is because these are some of the most advanced chips out there.”

At the start of March, TSMC said it plans to invest $100 billion over the next three years to increase capacity. The move came after Intel Corporation’s announcement to spend $20 billion on the expansion of advanced chip-making capacity.

“Ultimately, securing the microelectronics supply chain of the US and its allies is a challenge they need to face now,” Halvorsen of IBM noted. “It’s the only way we can ensure sustainable long-term capability in this critically important area.”

The last big supply shock for the industry was a decade ago after the Fukushima earthquake damaged operations at Renesas Electronics, the number three supplier of auto chips.

By Quang Hai

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Billionaire Pham Nhat Vuong plans billion-dollar IPO in the US

April 14, 2021 by vietnamnet.vn

Vingroup’s billionaire Pham Nhat Vuong is taking an unexpected step entering the world’s largest electric car market.

Tỷ phú Phạm Nhật Vượng tính thương vụ tỷ USD ngay trên đất Mỹ

Vingroup’s billionaire Pham Nhat Vuong

Bloomberg has cited a source as saying that Vingroup Group (VIC) of billionaire Pham Nhat Vuong is considering an initial public offering (IPO) in the US for its VinFast auto company, which is expected to mobilize about $2-3 billion.

VinFast expects a valuation of at least $50 billion or even up to $70-75 billion. With this valuation, the capitalization of VinFast will surpass the famous car maker Ferrari (capitalization at $52 billion), Honda ($51 billion), Ford ($49 billion), Kia ($30 billion) … and only behind some famous brands such as Tesla, Toyota, Volkswagen, Mercedes Benz, GM, BMW and others.

This is an unexpected move, but it is in line with his aim of conquering the top market in the world.

The information was released when Vuong’s VinFast company began receiving the first orders for electric cars in Vietnam last month and had models shown on CNN, paving its way into the US market.

VinFast has also registered two electric car models in the US and will sell a number of models in Vietnam, the US, Canada and Europe from late 2021.

In the trading session on April 12, Vingroup shares (VIC) – VinFast’s parent company – increased by 5.7% to VND132,000/share, helping the group’s capitalization reach more than $19 billion to be the largest capitalized enterprise in Vietnam’s stock market.

During the morning session of April 13, Vingroup shares continued to rise by more than 4 percent, to nearly VND138,000 per share.

As the price for VIC shares soared, Vuong’s assets rose to over $9 billion and he became the 262nd richest person in the world.

If the IPO is successful, VinFast will set a new record, surpassing the record of $1.4 billion in capital mobilization in 2018 of Vinhomes (Vingroup’s real estate management company).

At that time, VinFast was also the first Vietnamese company listed in the US.

VinFast is Vingroup’s company that manufactures motorbikes, and gasoline- and electric-powered cars. The business, only a few years old, began delivering gasoline fueled cars (using engines licensed by BMW) in 2019.

In the mobile phone segment, Vingroup has achieved many positive results, with the sale of Vsmart phones in the country increasing over the past year, even though the No. 1 private corporation in Vietnam just entered the smartphone market in 2018. Vingroup has become the 3rd largest smartphone manufacturer in Vietnam, behind only Samsung Electronics and Oppo.

On the website of the leading US carrier – AT&T – an image of the first Vingroup smartphones has appeared, a testament to the group’s plan to enter the American smartphone market.

Pham Nhat Vuong has great ambition in the field of technology and industry, with Vsmart phones, Vinfast cars and electric cars.

In recent years, Vuong’s Vingroup had to withdraw from many fields, selling the retail segment to billionaire Nguyen Dang Quang and recently presenting the Youth Football Training Center to Van Lang Education Group, even though it had many achievements in these fields.

V. Ha

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