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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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Japan’s Ube Construction Materials forms sales unit in Vietnam

April 14, 2021 by en.qdnd.vn

Ube Construction Materials, a Tokyo-based wholly owned unit of chemical giant Ube Industries Ltd., said it owns a 51 percent stake in the new local arm, Ube CT Construction Materials Vietnam Co., which has an initial capital of 753,100 USD.

The rest of the stake is held by two other Japanese companies – 37.5 percent by T. Chatani & Co., a subsidiary of chemical goods trading house OG Corp., and 11.5 percent by Koatsu Gas Kogyo Co., a manufacturer of high-pressure gas.

The waterproof materials market in Vietnam is expected to expand in line with the country’s economic growth, an Ube Industries spokesman told NNA, commenting on the establishment of the new local unit as the Ube group’s first business base in Vietnam.

Ube Construction Materials was founded in 2015 and plays a central role in the group’s construction materials business.

Source: VNA

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Healthcare focus for Brit investors through UVFTA

April 14, 2021 by www.vir.com.vn

1539 p12 healthcare focus for brit investors through uvfta
Representatives of Vietnam and the UK hand over notes confirming the date when the UKVFTA comes into force. Photo: VNA

Emily Hamblin, UK consul general in Ho Chi Minh City and trade director for Vietnam, said that May 1 is the next milestone to celebrate in the United Kingdom and Vietnam’s timeline of implementing the free trade deal (UVFTA), when the agreement will legally enter into force.

However, the benefits of it have already been in place for several months, being provisionally applied from January 1. Some 65 per cent of all tariffs have already been eliminated and this will increase to 99 per cent over the next six years. This equates to tariff savings of $134.65 million per year on Vietnamese exports to the UK by full implementation, and of $42.52 million per year on UK exports to Vietnam.

Among them, there are huge cooperation opportunities in the field of healthcare. Hamblin said that in an age of growing challenges from non-communicable diseases, and emerging threats from infectious diseases such as COVID-19, digital health has the potential to offer new solutions and alleviate pressure on overstretched health systems. Digital health technology can empower patients to actively participate in their care, improve clinical outcomes, and enhance operational efficiency.

Innovation and technology have touched many aspects of life in Vietnam and healthcare is no exception. In a concerted effort to embrace Industry 4.0, the Vietnamese government has committed to a national agenda that seeks to harness the potential of digital solutions across the healthcare system. This has set a solid foundation for digital transformation in Vietnam, and the UK shares many of the same aspirations.

“We seek to utilise digital innovation to expand equitable access to quality care, in line with United Nations Sustainable Development Goal 3 on good health and wellbeing. At the early stage of digital transformation, Vietnam has plenty of opportunities to avail of innovative solutions from the UK,” Hamblin stressed.

Meanwhile, Nitin Kapoor, chairman and general director of AstraZeneca Vietnam, said, “As AstraZeneca continually strives to put patients first, we appreciate the UVFTA that is helping to ensure continued access to our innovative and high-quality medicines for millions of Vietnamese patients.

British pharmaceuticals like AstraZeneca can enjoy the increased protection and enforcement of intellectual property rights, internationalised standards and technical regulations, and enhanced transparency of policies on government procurement and reimbursement, which in turn will allow us to better serve local patients.”

Kapoor stressed that the UVFTA entering into force is especially meaningful when the UK and Vietnam are looking forward to another decade of bilateral strategic partnership, cooperating ever more closely in numerous areas, including healthcare, to strengthen the livelihoods and economic prosperity of the people.

Indeed, a number of UK healthcare investors have started to set up their presence in Vietnam. Last year London-based Real Capital London launched a $156 million Hong Anh Medical Campus project in Ho Chi Minh City. The facility will be a state-of-the-art healthcare system incorporating a 462-bed hospital, a medical training centre, a network of general practice clinics and pharmacies, and senior residencies and nursing homes, adding much needed facilities and services to Vietnam’s healthcare system.

The project is divided into four stages, with the final phase expected to be completed by 2030. The fund’s vision is to build a state-of-the-art medical campus under British standards, offering the highest standards of healthcare in Vietnam

As of present, British investors have poured $3.87 billion across over 400 projects in Vietnam and is the 15th-largest foreign investor in the country. Established British actors already here include financial services companies like HSBC, Standard Chartered Bank, and Prudential; Jardines in real estate; and healthcare companies such as AstraZeneca, GSK, and Reckitt.

In the past decade, Vietnam and the UK already enjoyed a strong growth cycle – with bilateral trade growing on average 12 per cent per year. The UVFTA is built upon that strong basis and is opening the doors to increase capital flow between the two nations, according to Hamblin.

She stressed that the UVFTA provides better market access for services, as Vietnam has committed to opening up markets beyond that set out within the World Trade Organization’s baseline, which delivers greater market access for UK service providers. These and other measures set out in the FTA represent real benefits for both businesses and consumers.

In the same vein, Kenneth Atkinson, executive chairman of Grant Thornton Vietnam and a board member of Britcham Vietnam, said that the UVFTA is one of the first signed and entered into by the UK, after leaving the European Union last year. The agreement reflects the importance both the UK and Vietnamese government place on the strategic partnership and the growing importance of the bilateral relationship.

Atkinson expected that a reduction in regulatory barriers and red tape will attract UK investors to Vietnam, particularly in the healthcare space.

By Thanh Van

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Hanoi gets to meet Thich Nhat Hanh’s calligraphy

April 14, 2021 by e.vnexpress.net

The “Huong Thom Que Me” (The Fragrance of Motherland) exhibition, held April 14- 26, displays 100 works of calligraphy in various languages including Vietnamese, English, French and Chinese.

The works reflect the Zen master’s love for Mother Earth, who nurtures and protects all sentient beings.

The exhibition takes its name from the title of a new book that features Thich Nhat Hanh calligraphy.

According to Eve Yuen, a Hongkong-based art critic, Hanh’s works are choreographic calligraphy that exude exquisite qualities, incorporating straight and solid lines as well as flowing curves in a balanced composition.

The works were earlier displayed in France, Germany, Canada, the U.S., Thailand, Taiwan, Hongkong, and Ho Chi Minh City.

Calligraphy works by Thich Nhat Hanh. Photo by VnExpress/Thanh Tuyen.

Calligraphy works by Thich Nhat Hanh. Photo by VnExpress/Thanh Tuyen.

The Zen master said he has done more than 10,000 calligraphic works since 1994. They have helped him demonstrate the art of mindful living to his students. They have become a source of donations supporting humanitarian projects in many developing countries.

“Writing calligraphy is a practice of meditation,” the Master has said.

“The way I do calligraphy, I do it in a certain way that can generate the energy of mindfulness, concentration, insight, and compassion during the time of practice.”

Thich Nhat Hanh, considered the second most influential Buddhist leader in the world after the Dalai Lama, studied and practiced Zen Buddhism from 1942.

Born in 1926, he became a monk at the age of 23 after studying Buddhism for seven years.

In the 1960s he spearheaded a movement by Buddhists in southern Vietnam that called for a negotiated end to the Vietnam War.

He left the country in 1966 and lived in Plum Village in southern France for decades, traveling regularly throughout North America and Europe to give lectures on mindfulness and peace.

Thich Nhat Hanh is also a celebrated poet and peace activist. He was nominated for the Nobel Prize by Martin Luther King, Jr. in 1967, and is the author of more than 100 books, including several bestsellers like the “The Miracle of Mindfulness.”

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Hanoi sparkles with nocturnal serenity

April 14, 2021 by e.vnexpress.net

Hanoi sparkles with nocturnal serenity

Thanh Nien Street, located between West Lake and Truc Bach Lake , is brightly lit at dusk.

The street is renowned for its beauty, with the blackboard trees that line it providing ample shade and its ancient temples adding a sense of spiritual tranquility.

Hanoi sparkles with nocturnal serenity

Tran Quoc Pagoda is seen at 7 p.m.

Located on a small peninsula on the east side of West Lake, Tran Quoc Pagoda, at nearly 1,500 years, is known as the oldest pagoda in the capital.

Adding to the architectural beauty and historical significance of the pagoda is a Bodhi tree said to be the “offspring” of the original tree under which the Buddha attained enlightenment in India.

Hanoi sparkles with nocturnal serenity

Long Bien Bridge, a symbolic Red River crossing, was designed and built by French firm Daydé-Pillié in September 1898. It opened to traffic in 1902, running more than 1,691 meters, with a rail track in the middle and road transportation on either side.

During the Vietnam War (1955-1975), the bridge had some of its parts damaged and even destroyed by enemy bombing. The Vietnamese government fixed the damage, building the spans still in use today.

Hanoi sparkles with nocturnal serenity

Octagon House, built in 1901, used to host the French army’s trumpet shows. The structure lies inside the Ly Thai To flower garden area, encompassing the streets of Dinh Tien Hoang, Le Lai, Le Thach and Ngo Quyen.

Hanoi sparkles with nocturnal serenity

Turtle Tower, an iconic symbol of Hanoi in the middle of Hoan Kiem (Sword) Lake, shines at night.

Hoan Kiem Lake, which spreads across 12 hectares (30 acres), is named for the legend of a golden turtle god showing up at the lake to take back a sword it had given King Le Loi in the 15th century to help fight Chinese invaders.

Hanoi sparkles with nocturnal serenity

Hanoi’s St. Joseph Cathedral is located at 40 Nha Chung Street. Built between 1884 and 1888, it has been a place of worship for Catholics in the capital for more than a century.

Hanoi sparkles with nocturnal serenity

The Chuong Duong Bridge interchange at night.

Connecting Hoan Kiem District and Long Bien District, Chuong Duong Bridge is 1,230 meters long with four two-way traffic lanes.

Built from 1983 to 1986, the bridge was the first in Vietnam designed and built without foreign technical assistance.

Hanoi sparkles with nocturnal serenity

Hanoi Museum, part of Vietnam National Convention Center, is located on Pham Hung Street in Nam Tu Liem District. The building was completed in 2010 with an inverted pyramid design.

Hanoi sparkles with nocturnal serenity

A view of Landmark 72 and other high-rise buildings amid the foggy cityscape.

Landmark 72 on Pham Hung Street is the country’s second highest building, after Landmark 81 in Ho Chi Minh City.

Hanoi sparkles with nocturnal serenity

Nhat Tan Bridge, also known as Vietnam – Japan Friendship Bridge, was inaugurated in January 2015. It runs a length of 8.9 kilometers (5.5 miles) across Red River and has five spans representing the capital’s five ancient gates.

Photos by Nghiem Dinh Chinh

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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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