VinaCapital officially ends investment in poultry firm Ba Huan Ba Huan JSC, the country's leading pasteurized eggs and poultry meat producer, has decreased its charter capital from VND280 billion (US$12 million) to VND222 billion (US$9.53 million), effectively ending the involvement of VinaCapital, one of the two largest asset management firms in Vietnam, with the company. This results in an increase in the stake holding of domestic shareholders from 66.2% to 83.6%, of which Ba Huan's Director Pham Thi Huan owns 64%. In Feburary, VinaCapital`s flagship fund Vietnam Opportunity Fund (VOF) invested US$32.5 million to acquire a significant minority stake in Ba Huan. However, in early July, Ba Huan sought Prime Minister Nguyen Xuan Phuc's intervention in terminating its partnership with VinaCapital. The firm said there were differences between the English and Vietnamese versions of the agreement and the terms were not what the two parties had agreed initially. Among … [Read more...] about BUSINESS NEWS IN BRIEF 10/10
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Erik Frankel and his employees making metallic jewelry at the workshop in District 2, Ho Chi Minh City. Photo by VnExpress/ Hanh Pham. The Golden Star Balm is a yesteryear product in Vietnam. Called cao sao vang in Vietnamese, it was once the only balm used across Vietnam to treat headaches, cold, arthritis and other pains. But, for many years now, it had all but disappeared under a deluge of imported substitutes that flooded the market in the mid to late nineties. However, last year, this made-in-Vietnam product was selling like hotcakes in the US, and most people were buying it from retail titan Amazon. This unusual revival made headlines, with the minute red tin with a yellow star in the middle commanding prices as much as 35 times higher than in the local market. The manufacturer OPC Pharma then, with public praises ringing in its ears, frankly said that it was not the mastermind behind the rise of the balm. It was small distributors like New York City-born Erik Frankel that … [Read more...] about American entrepreneur finds Vietnam the right place at the right time
An article published just before Tet by a local contributor about eating dog meat stirred up quite a few feelings among the expats and foreigners who responded to the story on both Facebook and the Tuoi Tre news website. More than a few of my Vietnamese friends were upset and outraged by some of the reactions expressed by foreign readers. There were demands for the story to be withdrawn and lots of derogatory, plain nasty generalizations about the Vietnamese thrown as well. But do the Vietnamese also have the right to express their point of view without getting shouted at by the foreigners in text? And are they really such barbarians in the traffic, super polluters and insensitive noisy, smelly neighbors? Now, there are no surprises that the issue of eating dog meat arouses such passions between locals who see it as part of their way of life and Westerners who see it as a horrible thing to do. Frequent culture shock when two groups rub up against each other’s lifestyles and … [Read more...] about Vietnam: Get used to it!
A number of expats living in Ho Chi Minh City have shared their opinions with Tuoi Tre News on how one should engage in public debates. A number of expats living in Ho Chi Minh City have shared their opinions with Tuoi Tre News on how one should engage in public debates. The opinions were given in response to a request from the newspaper after a local traffic expert complained that he had received a lot of negative comments over his suggestion to ban motorbikes to ease congestion. Keyboard warrior attitude I see a lot of debates on some of the forums, I always try not to get involved, because a lot of the debates are very immature, and some people are significantly older than me. I see a lot of people who unfortunately are often not very friendly. They’re very one-sided and I think they’re often blind to their bias, or even racist. Sometimes I see foreigners write things like “Vietnamese are this, Vietnamese always eat like this, Vietnamese drive like … [Read more...] about Ho Chi Minh City expats share thoughts on how to debate properly