Editor's note: Pham Ngoc Minh Trang is a lecturer in the Faculty of International Relations at the Ho Chi Minh City University of Social Sciences and Humanities under the Vietnam National University-Ho Chi Minh City. The U.S. kicks off the year 2022 with a new document – the Limits of the Sea Report No. 150, “People’s Republic of China: Maritime Claims in the [East Vietnam Sea].” That report, which was published on January 12, continues contributing to the maritime dispute saga. The report categorizes Beijing’s claims to the sea into (1) sovereignty claims over maritime features, (2) baselines, (3) maritime zones, and (4) historic rights, while meticulously debunking most of the claims. Debunking the claims of China in the [East Vietnam Sea] The report cited article 121 of the 1982 United Nations Convention on the Law of the Sea (UNCLOS) to analyze the sovereignty claim of China over ‘Nanhai Zhudao’ in the [East Vietnam Sea], consisting of four island groups (also known … [Read more...] about US report debunks China’s claims to East Vietnam Sea
Swiss national bank
Given the severe impact of COVID-19, the National Assembly’s recent approval of a VND350 trillion (US$15 billion) economic recovery package is considered by businesses and experts as an extremely important leverage and motivation moving forward. Businesses long for the US$15 billion bailout package to be soon disbursed to support their ailing operation. Businesses expect early disbursement Luu Ngoc Nam, the owner of a firm specialising in food, industrial catering, transportation, and warehousing in Hanoi, said that his businesses has almost been exhausted because of COVID-19. But he felt more motivated upon hearing that the national legislature has just approved a VND350 trillion economic recovery package. “We are very pleased and hopeful that conditions for accessing this package will be easier. The State should create favourable conditions for businesses like us to get support in a quick and effective manner,” said Nam. Similarly, Nguyen Anh Tu, director of … [Read more...] about US$15 billion bailout package a stimulus to economic recovery
Tan Hoang Minh won the bid in a ‘duel’ to buy the 3-12 land plot in Thu Thiem new urban area in HCM City, but finally gave up. On January 11, Tan Hoang Minh issued a press release, saying that it will send an official document to HCMC People’s Committee, Land Bank Development Center and HCMC Property Auction Service Center about its decision on unilaterally terminating the contract on the purchase of the 3-12 land plot. The contract was signed on December 17, 2021, or one working week after the auction day (December 10, 2021). During the auction four land plots were sold. This means that if Tan Hoang Minh cancels the purchase of the land, it will lose the deposit of nearly VND600 billion. A question has been raised about the ‘fate’ of the land plot, called ‘golden land’ because of its advantageous position. Some people said the land may fall into the hands of the business with the second highest bidding price at the auction. The auction session was described as … [Read more...] about What’s behind Tan Hoang Minh’s sky-high bidding price?
With less than two weeks to go for Tet , the nation's most important festival, the number of enterprises reporting bonus payments is extremely small compared to the number of business registrations, reports from provinces and cities show. For the previous Lunar New Year, more than 30,000 businesses nationwide reported Tet bonuses, with workers receiving an average at VND6.36 million, down 5 percent compared to the previous year, as the country struggled with the first year of Covid. This year, the ministry has not officially revealed the official Tet bonus figures, although the deadline for localities to report was December 29, 2021. HCMC, the country's largest economic hub and for long the epicenter of fourth, ongoing Covid-19 wave, has more than 200,000 businesses operating, only 1,000 or so, about 0.5 percent, have reported payment of Tet bonuses to 175,000 workers. According to a study by the HCMC Department of Labor, Invalids and Social Affairs, the average Tet … [Read more...] about Tet bonus fails to deliver festive cheer in major cities