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Willem c vis international arbitration moot

Da Nang to develop an international finance center

April 12, 2021 by en.qdnd.vn

Director of the city’s Investment Promotion Agency (IPA), Huynh Thi Lien Phuong said the MoU, which was signed late last month, aimed to build a trading center, casino, high-end entertainment and luxury apartments in the coastal area.

She said the project would be built on an area of 84,000.sq.m on the beach-front on Vo Nguyen Giap and Vo Van Kiet streets in the Son Tra peninsula.

Phuong said Da Nang authorities would auction land-use rights for the finance-trade-casino complex in the future.

She said the city was drawing up a detailed plan for the first international duty-free zone and smart urban area for investors.

Last year, five key investors – the Import-Export Pan Pacific Group (IPPG), T&T Group, New Techco Company from Vietnam, and Sakae Holding and another company from Singapore – registered for a land-use rights auction for a USD 2 billion finance-trade-casino complex in the central city.

Jonathan Hanh Nguyen, who is chairman of IPPG Group, urged the city to build an international standard duty-free zone and recreational area for tourists.

The city’s Department of Natural Resources and Environment said four plots on two coastal facade Vo Van Kiet and Vo Nguyen Giap streets were reserved for finance-trade-casino complex development.

Two years ago, IPPG failed to negotiate with Trung Nam Group to make the Golden Hills area the first duty-free zone and factory outlet center in central Vietnam.

Last month the first downtown free-duty shop, VV Mall was launched at the beach-front Crowne Plaza Da Nang resort in Ngu Hanh Son district.

The Universal Alloy Corporation (UAC) from the US has launched the first aerospace parts project, while LG Electronics began construction of its R&D center in the city.

Da Nang, which is situated at the end of the East-West Economic Corridor, linking Laos, Thailand, Myanmar and Vietnam, is planned as a global destination of tourism, finance, logistics and hi-tech investment.

Source: VNA

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Hanoi set to play host to first Francophonie race for women

April 12, 2021 by vov.vn

The race marks the first event to be launched following collaboration between the administration of Hanoi, the Vietnamese Ministry of Foreign Affairs, the Francophone University Agency (AUF), the International Organisation of the Francophonie (OIF), and the Diplomatic Academy of Vietnam.

The purpose of the function is to respond to International Francophonie Day on March 20, which is being held this year with the theme of “Francophonie women, resilient women”.

Participants will be made up of diplomatic corps, embassies, and various Francophonie organisations, along with French businesses, French-speaking students, and teachers based in Hanoi.

Competitors must register for the race between April 6 and April 29 in categories such as a 1.7km race for children aged between five and 11, a 3.5km race for adults, in addition to a 8.5km race for adults.

Further details and other information can be found by visiting https://www.facebook.com/coursefrancophonie.

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Ha Long gets marked by architectural, natural highlights

April 12, 2021 by e.vnexpress.net

Ha Long gets marked by architectural, natural highlights

T he 28-m high clock tower in Bach Dang Ward at the intersection of major streets like Tran Hung Dao and Le Thanh Tong stands out with its yellow tempered glass. This renovation of the old Hon Gai clock tower was done in 2017.

Ha Long is the political, economic and cultural center of Quang Ninh Province, about 150 km from Hanoi. It has a bay area with the same name that has been recognized by UNESCO as a world natural heritage site .

The photo graphs are taken from a collection that Ha named “The beauty of Ha Long . ”

Ha Long gets marked by architectural, natural highlights

A section of Tran Quoc Nghien Street , about 1.5 km long, with mango trees in full bloom on either side.

Ha Long gets marked by architectural, natural highlights

P urple ebony flowers are an attraction on another section of Tran Quoc Nghien Street.

Ha Long gets marked by architectural, natural highlights

The above photograph captures floral, architectural and sculptural attractions.

The pink bougainvillea flowers are blooming outside the Quang Ninh Library-Museum in Hong Hai Ward.

With its black building that symbolizes a signature product of Quang Ninh, coal, and an impressive sculpture of a miner, this spot is a favored for photographers .

Ha Long gets marked by architectural, natural highlights

Another standout architectural creation in the port town and the province is the Quang Ninh Exhibition Center on the banks of Ha Long Bay. The work, designed by the world-famous Spanish architect, Salvador Perez Arroyo , is also known as the Dolphin Palace.

The Dolphin Palace, together with the Quang Ninh Library-Museum and October 30 Square, create a specially beautiful architectural ambience on the coastal road .

Ha Long gets marked by architectural, natural highlights

Fishing boats and limestone islands in the morning mist are evergreen Ha Long charms .

Ha Long gets marked by architectural, natural highlights

Ha Long Bay has over 2,000 limestone islands of all sizes and shapes , 900 of which have been named.

Ha Long gets marked by architectural, natural highlights

Sunset at the Ha Long International Port ’s lighthouse .

In 2012, CNN voted Ha Long as one of the most beautiful places to watch the sunset in Asia.

The news channel described Ha Long Bay as one of the destinations where visitors can travel by boat to admire the ocean and sky all day and night.

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Vietnam raises awareness of Thalassemia

April 12, 2021 by en.qdnd.vn

This year’s International Thalassemia Day, themed “Addressing Health Inequalities Across the Global Thalassemia Community”, is devoted to raising public awareness about Thalassemia and one of the major causes in the spread of the disease – cousin marriages, as well as the importance of pre-marriage and pre-pregnancy counselling and screenings to early detect the disease.

Data shows that there are about 8,000 new-borns carrying the Thalassemia gene every year, around 2,000 of which will suffer from severe symptoms.

Some 13 million Vietnamese, or 13 percent of the population, carry the gene. About 20-40 percent of the Thalassemia gene carriers are mountainous ethnic minority people, mainly due to inbreeding.

According to the General Office for Population and Family Planning, despite many efforts, treatment can only help improve patients’ quality of life and does not completely cure the disease.

A report shows that since 2001, up to 20 percent of children born with Thalassemia died at the age of 6-7 and most people with severe symptoms cannot find a spouse.

Thalassemia is an inherited blood disorder caused when the body doesn’t make enough haemoglobin – an important part of red blood cells. The disorder results in excessive destruction of red blood cells, which leads to anaemia.

People with severe symptoms may suffer from bone problems and liver and heart failure, and the condition can be fatal.

A child can inherit Thalassemia if one or both of his or her parents carry the mutant gene. The risk is higher if both parents have it.

Most married Vietnamese couples do not have any tests or consultancy on inherited disorders. People who carry such genes show no abnormal signs so do not undergo examinations or screening before giving birth.

Huge investment in medicine and regular blood transfusions make Thalassemia a costly disease, placing a financial burden on families and society as a whole.

It is estimated that 2 trillion VND (85.1 million USD) and 500,000 blood units are needed each year to treat Thalassemia patients in Vietnam. The average treatment cost for a severe case from birth to the age of 30 is about 3 billion VND (130,000 USD).

Source: VNA

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A comprehensive approach to SWIFT security assessment

April 6, 2021 by www.vir.com.vn

a comprehensive approach to swift security assessment
Tran Phuong Hong, IT Advisory director, KPMG Tax and Advisory Vietnam and Do Kim Hien, senior solution consultant, KPMG Tax and Advisory Vietnam

In Vietnam, we have had vast opportunities in conducting SWIFT system security gap assessment projects for Vietnamese banks, and there are best practices that clients should consider while implementing and securing the system according to a SWIFT Customer Security Control Framework (SWIFT CSCF).

The SWIFT CSCF describes a set of mandatory and advisory security controls for users. Mandatory security controls establish a security baseline for the entire community and must be implemented by all users on their local SWIFT infrastructure. The SWIFT has chosen to prioritise these mandatory controls to set a realistic goal for near-term, tangible security gain, and risk reduction.

Advisory controls are based on good practice that SWIFT recommends. Over time, mandatory controls may change due to the evolving threat landscape, and some advisory controls may become mandatory.

All controls are articulated around three objectives: ‘Secure your Environment’, ‘Know and Limit Access’, and ‘Detect and Respond’. Controls have been developed based on SWIFT analysis of cyber threat intelligence and in conjunction with industry experts and user feedback. Control definitions are also intended to be in line with existing information security industry standards.

SWIFT CSCF version 2021 has defined 31 security controls (22 mandatory and nine advisory controls) that underpin these objectives and principles. The controls are intended to help mitigate specific cybersecurity risks that users face due to the cyber threat landscape. Within each security control, SWIFT has documented the most common risk drivers that the control is designed to help mitigate.

Addressing these risks aims to prevent or minimise undesirable and potentially fraudulent business consequences, such as unauthorised sending or modification of financial transactions; processing of altered or unauthorised SWIFT inbound transactions; business conducted with an unauthorised counterparty; and confidentiality or integrity breach of business data, computer systems, or operator details.

Ultimately, these consequences represent enterprise-level financial, legal, regulatory, and reputational risks.

Common violations

a comprehensive approach to swift security assessment

During the gap assessment for the SWIFT system, we have noticed a number of common issues that financial institutions often violate compared to SWIFT CSCF requirements.

Firstly, the network micro-segmentation for applications and SWIFT systems is not carried out clearly and completely. For example, email or active directory applications still have common connections to the SWIFT system.

Secondly, security policies and procedures (for example security vulnerability management procedure, and malware prevention procedure) are not detailed, accurate, or aligned to the current situation of the system.

Next, system hardening guidelines/standards are not fully and completely developed, and they are not periodically reviewed and updated. Additionally, the security vulnerability scanning is only conducted on important applications and servers. For network devices, virtualisation platforms, or databases, the scanning is almost ignored.

Finally, the password policy is only applied to Windows servers and not applied on network devices, security devices, or Unix/Linux platforms.

In order to fully assess the security controls of the SWIFT environment, the following important points should be noted.

Understanding client’s SWIFT architecture: The current architecture of SWIFT is divided into four types – A1, A2, A3, and B. Each architecture has a difference in components and the connection from the client to SWIFT. So, understanding each type of architecture will help you identify the scope and assess the relevant systems involved that may affect the security of the SWIFT environment.

Understanding security controls: SWIFT’s security controls are only applied to a certain scope – SWIFT systems and indirect infrastructure related to it. You need to be aware of connections and determine which scope would apply security controls to avoid assessing unnecessary components that are outside the scope.

Understanding mandatory and advisory controls: SWIFT’s security controls are divided into mandatory and advisory controls. Depending on the requirements of the customer and the scope of the assessment, you should decide which controls should be reviewed and evaluated in the most appropriate way.

Understanding the objective of each control: SWIFT CSCF 2021’s security controls are divided into eight groups. Understanding the objective of each control makes it easier to identify alternative controls if they exist and avoid misjudging the customer’s current security level because during the assessment, it is realised that customers could use different security controls than required by SWIFT and still meet the final objective and ensure the safety of the system.

Understanding purpose and role of SWIFT components: SWIFT includes many components with different roles such as messaging interface, communication interface, SWIFTNet Link, connector, and more. These components connect, interact, and have mutual security relationships. Therefore, understanding the roles and functions of each component helps you determine which security controls are appropriate for which component, thereby assessing most accurately and effectively for potential risks.

As international transactions and commerce become more popular, SWIFT becomes one of the important components of financial institutions, especially banks. Therefore, its security needs to be paid close attention to properly minimise fraud in international transactions, protect user data, and safeguard the reputation of the organisation.

By Tran Phuong Hong, IT Advisory director and Do Kim Hien, senior solution consultant, KPMG Tax and Advisory Vietnam

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Quang Binh caves get surreally real under photographic light

April 12, 2021 by e.vnexpress.net

Quang Binh caves get surreally real under photographic light

Early last month, HCMC-based Trung joined a group on a two-day tour to explore the two caves that are part of the cave system in the Phong Nha – Ke Bang National Park.

The group took a car from the center of Son Trach C ommune to the 28 km milestone on the Ho Chi Minh West road, then trekked through the Phong Nha – Ke Bang forest.

The first destination in the journey, Nuoc Nut C ave, impressed Trung with stalagmites dripping down from the ceiling and growing from the cave floor.

Quang Binh caves get surreally real under photographic light

Inside the cave are sandbanks and stalactites of different shapes. While the cave was first discovered in 2003, an entrance to go in was only found in 2012.

Quang Binh caves get surreally real under photographic light

Cave experts have said that based on geological survey results, Nuoc Nut Cave is up to 2.2 km long and about two million years old.

The cave is open to visitors from February to the end of August every year.

Quang Binh caves get surreally real under photographic light

After exploring Nuoc Nut Cave, Trung’s group camped for one night near the cave entrance and continued trekking t o Va C ave the next day.

In the photo above are stalactites in Va C ave. The interiors of both caves have a special structure thanks to a water system that connects with the world famous Son Doong C ave, said to be the world’s biggest. The t otal length of Va C ave is 1.6 km.

Quang Binh caves get surreally real under photographic light

The underground river in Va Cave has crystal blue water. In the system of more than 300 caves discovered in Phong Nha – Ke Bang, Va is one of the most striking ones.

Quang Binh caves get surreally real under photographic light

The lights of headlamps add to the mysterious effect.

“ There is no light in the cave, so it was necessary to have a lot of light shining in to get clear, better-looking photo s ,” Trung said.

Quang Binh caves get surreally real under photographic light

Inside Va Cave, the team used padlock belt s and pulley s to move pass the stalactite walls that are over 10 m high.

The exploration requires visitors to be in good physical shape and have basic rock – climbing skills.

Quang Binh caves get surreally real under photographic light

Trung said everybody’s tiredness vanished on seeing Thap Non Lake with hundreds of stalactites looking like pink bamboo shoots, each about 2 m high.

Quang Binh caves get surreally real under photographic light

Experts say that the stalactites here are rare and unique, not to be found anywhere else.

Scientists have not yet solved the mystery of the conical stalactites seen above. They grew from the lake and were not formed by water drops that drip down from the ceiling , as it typically happens.

Quang Binh caves get surreally real under photographic light

At the end of the journey, Trung said the interiors of the Va and Nuoc Noi caves were scenes from paradise.

Quang Binh, a popular tourist attraction in central Vietnam, is often referred to as the “Kingdom of Caves” as it boasts many limestone caves.

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