Vietnam Airlines bids farewell to Boeing 777-200ER fleet

North Korea said on Saturday it had conducted another successful test of an intercontinental ballistic missile (ICBM) that proved its ability to strike America's mainland, drawing a sharp warning from U.S. President Donald Trump and a rebuke from China. However, later on Saturday Trump wrote on Twitter that he was "very disappointed" in China and that Beijing had done "nothing" for the United States in regards to North Korea, something he would not allow to continue. North Korean leader Kim Jong Un personally supervised the midnight launch of the missile on Friday night and said it was a "stern warning" for the United States that it would not be safe from destruction if it tries to attack, the North's official KCNA news agency said. North Korea's state television broadcast pictures of the launch, showing the missile lifting off in a fiery blast in darkness and Kim cheering with military aides. "The test-fire reconfirmed the reliability of the ICBM system, demonstrated the capability of making a surprise launch of the ICBM in any region and place any time, and clearly proved that the whole U.S. mainland is in the firing range of the DPRK missiles, (Kim) said with pride," KCNA said. Intercontinental ballistic missile (ICBM) Hwasong-14 is pictured during its second test-fire in this undated picture provided by KCNA in Pyongyang on July 29, 2017. KCNA via Reuters. DPRK is short for the North's official name, the Democratic People's Republic of Korea. China, the North's main ally, said it opposed…... [read more]

Hanoi, July 29 (VNA) – Australia and New Zealand have huge potential for Vietnamese products like farm produce, aquatic products, coffee, cashew, computers, telephones and garments, said Nguyen Phuc Nam, deputy director of the Department of Asia-Pacific Market under the Ministry of Industry and Trade at a conference held in Hanoi on July 28.  The ASEAN-Australia- New Zealand Free Trade Agreement (AANZFTA), which took effect from January 1, 2010, plays a key role in enhancing economic relations, trade and investment between ASEAN and Australia and New Zealand, Nam said.  Within the agreement framework, ASEAN countries can enjoy 90 to 100 per cent tariff reductions in Australian and New Zealand markets, and Vietnamese firms should take full advantage of this potential, he said.  He noted that Australia and New Zealand were among the biggest importers in the world since both economies are largely dependent on imported products.  Vietnam’s chief exports to these two markets include agricultural products, seafood, coffee beans, cashews, electronics parts, textiles, footwear and construction material.  If the AANZFTA was utilized well, Vietnamese producers could enjoy all the privileges contained therein, boosting export turnover and earning handsome profits, Nam said.  Statistics from the Ministry of Industry and Trade showed that trade between Vietnam and Australia hit 5.26 billion USD in 2016, up 6.5 percent year-on-year. Particularly, Vietnam enjoyed trade surplus of 480 million USD with Australia in the year.  According to Phan Thi Dieu Linh, expert from the Department of…... [read more]

The second Vietnam Private Sector Forum (VPSF), chaired by Prime Minister Nguyen Xuan Phuc, is scheduled to be held on July 31 at Melia Hanoi. The first Vietnam Private Sector Forum in 2016 With the theme “From the Party Central Committee's Resolution 5 to the Action Programme of the Private Sector in Vietnam,” the forum will focus on discussions and dialogue between the government and the private sector in three key areas: agriculture, tourism, and the digital economy. Besides, trade facilitation, which is considered essential to the development of economic sectors, will be an important topic for discussion. In the framework of the forum, the signing ceremony of a memorandum of understanding (MoU) between the Vietnam Young Entrepreneurs’ Association (VYEA) and the Mekong Business Initiative (MBI) will be held to co-operate to develop the forum in the upcoming years. After the forum, the organisation board will publish VPSF’s White Book in August. This year the forum will welcome 1,000 delegates, representing the government, ministries, departments, leaders of cities and provinces, international organisations, and business associations, as well as economic experts and numerous CEOs from Vietnamese and foreign enterprises. VPSF is an initiative of VYEA and MBI, funded by the Asian Development Bank (ADB) and the Australian Government. The forum is considered a bridge between the government, public authorities, and the private sector for continuous and close consultation on public and private…... [read more]

Seafood processed at Ngo Quyen Export JSC in Kien Giang for export to Australia. (Source: VNA) Hanoi (VNA) – Australia and New Zealand have huge potential for Vietnamese products like farm produce, aquatic products, coffee, cashew, computers, telephones and garments, said Nguyen Phuc Nam, deputy director of the Department of Asia-Pacific Market under the Ministry of Industry and Trade at a conference held in Hanoi on July 28. The ASEAN-Australia- New Zealand Free Trade Agreement (AANZFTA), which took effect from January 1, 2010, plays a key role in enhancing economic relations, trade and investment between ASEAN and Australia and New Zealand, Nam said. Within the agreement framework, ASEAN countries can enjoy 90 to 100 per cent tariff reductions in Australian and New Zealand markets, and Vietnamese firms should take full advantage of this potential, he said. He noted that Australia and New Zealand were among the biggest importers in the world since both economies are largely dependent on imported products. Vietnam’s chief exports to these two markets include agricultural products, seafood, coffee beans, cashews, electronics parts, textiles, footwear and construction material. If the AANZFTA was utilized well, Vietnamese producers could enjoy all the privileges contained therein, boosting export turnover and earning handsome profits, Nam said. Statistics from the Ministry of Industry and Trade showed that trade between Vietnam and Australia hit 5.26 billion USD in 2016, up 6.5 percent year-on-year. Particularly, Vietnam enjoyed trade surplus of 480 million USD with Australia in the…... [read more]

Hoang Van Dung, Chairman of ABAC Vietnam. (Source: VNA) Ottawa (VNA) – The Asia-Pacific Economic Cooperation (APEC) needs to become an open, innovative and inclusive region with a long-term vision to create sustainable and inclusive growth, heard the third APEC Business Advisory Council meeting (ABAC III) in Toronto, Canada. In a press release issued after the conference, which was held from July 24-28, ABAC members highlighted four priority fields of intensifying integration and trade liberalisation, speeding up the development of small- and medium-sized enterprises, developing science and technology, and bettering human resources training. They also stressed the need for APEC economies to take action toward the establishment of the Asia-Pacific Free Trade Area based on the results of ambitious regional agreements such as the Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership, and the Pacific Alliance. Talking to Vietnam News Agency correspondents, APEC Executive Director Alan Bollard said that as ABAC III was a meeting of enterprises, delegates discussed a series of issues related to trade and investment and on how to maintain dynamic growth in the Asia-Pacific region. New issues, including e-commerce, development of small enterprises and the role of women in the economy, were also put on table, he added. Chairman of the ABAC Vietnam Hoang Van Dung emphasised the importance of science and technology in the digital era, especially for such developing countries as Vietnam. Within the framework of the conference, a representative from the Vietnamese delegation informed the participants of…... [read more]

NDO/VNA – The Asia-Pacific Economic Cooperation (APEC) must become an open, innovative and inclusive region, with a long-term vision to creating sustainable and inclusive growth, heard the third APEC Business Advisory Council meeting (ABAC III) held in Toronto, Canada. In a press release issued following the conference, which was held from July 24-28, the ABAC members highlighted four priority fields in which to intensifying integration and trade liberalisation, accelerating the development of small and mediumsized enterprises, developing science and technology, and improve human resources training. They also stressed the need for the APEC economies to take action toward the establishment of the Asia-Pacific Free Trade Area, based on the results of ambitious regional agreements such as the Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership and the Pacific Alliance. Talking to Vietnam News Agency correspondents, APEC Executive Director Alan Bollard said that as ABAC III was a meeting of enterprises, delegates discussed a series of issues related to trade and investment and on how to maintain the dynamic growth in the Asia-Pacific region. New issues, including e-commerce, the development of small enterprises and the role of women in the economy, were also put to the table, he added. Chairman of the ABAC Vietnam Hoang Van Dung emphasised the importance of science and technology in the digital era, especially for developing countries such as Vietnam. As part of the conference, a representative from the Vietnamese delegation informed the participants of Vietnam’s preparation works for the APEC Economic…... [read more]

As a result, ransomware attacks soared around the globe by more than 11% in the 12 months leading to March 2017, said the report.Ransomware is a type of malware that prevents or limits users from accessing their system, either by locking the system's screen or by locking the users' files unless a ransom is paid. Operators commonly specify ransom payments in bitcoins. Recent ransomware variants have also listed alternative payment options using iTunes and Amazon gift cards. Ransomware infections were initially limited to Russia, but its popularity and profitable business model soon rapidly spread to other countries across Europe and North America. According to the report by Kaspersky Lab, the total number of users around the globe who encountered ransomware between April 2016 and March 2017 rose by 11.4% compared to the previous 12 months, from 2,315,931 to 2,581,026. As a result, the report said companies both large and small are starting to realize that cybersecurity services must become an integral part of their normal internal IT department’s function. However, the report also said that a shortage of qualified IT security professionals contributes to the challenge all companies face in ramping up their internal cybersecurity offering. A recently published Enterprise Strategy Group research report, Cybersecurity Analytics and Operations in Transition, reached a similar conclusion to that of the Kaspersky Lab report. In its survey, 412 cybersecurity and IT professionals were asked about the size and skill set…... [read more]

At the second debate on regional minimum wage for next year, held by the National Salary Council in Hanoi yesterday, the Vietnam General Confederation of Labour (VGCL), which represented employees, and the Vietnam Chamber of Commerce and Industry (VCCI), which represented employers, failed to reach an agreement. The VGCL called for an 8 percent increase from the current minimum wage while the VCCI proposed 5 percent. Regional minimum wage rates are the base rates used for any arrangement between enterprises and employees on salary. The wage rates are paid to employees who work under normal working conditions, meet monthly working hour standards and complete their obligations for agreed work duties. Vietnam currently has four regions ranked according to the socio-economic development level of each region. Region I includes the large districts and towns of Hanoi, Hai Phong, HCM City and Dong Nai, as well as Binh Duong and Ba Ria-Vung Tau Since January 1, 2017, the regional minimum wage rate applicable for employees working for enterprises in Region I is VND3,750,000 per month, in Region II is VND3,320,000 per month, in Region III is VND2,900,000 per month and in Region IV is VND2,580,000 per month. The rates are 7.3 percent higher than in 2016. VCCI Vice Chairman Hoang Quang Phong said the 5 percent increase proposal was made based on assessing more than 30 associations representing employers. Increasing the regional minimum wage would lead to higher production costs for businesses, he said. Experts said the current minimum wage met…... [read more]

He was reporting at a meeting on socioeconomic situation presided over by chairman of the city People’s Committee Nguyen Thanh Phong. The city’s exports strongly increased to Singapore, Malaysia, India, Spain, Thailand and China but slowed down to the Philippines, Indonesia and Italy. Major import items comprise equipment and materials for local production. Of these, electronic products and comportments increased nearly 36 percent, metals rocketed 40 percent and plastic materials hiked 18 percent. Total retail sales of goods and services reached VND527,310 billion ($23.21 billion). Leaders of the Department of Tourism said that the city received 3.2 million international visitors in the first seven months, a year on year increase of 16 percent. Especially, the city reported a raise of tourists from Asia and North Asia during off peak season this year. Still the increase in HCMC was lower than other provinces and cities in the northern and central regions where received a huge number of Chinese visitors. Revenue increases Director of the Department of Finance Phan Thi Thang said that the city’s budget revenue hit VND201,950 billion in the first seven months, accounting for 58 percent of estimates and surging over 13.6 percent over the same period last year. During the seven months, the city spent VND25,590 billion ($889 billion) including VND8,570 billion on development investment and over VND16.2 trillion on regular spending. At present, investors are focusing on disbursing capital for works and projects, said Ms. Thang. Ms. Thang reported some highly rising revenue sources such as personal…... [read more]

VietNamNet Bridge - The competition in the sweets market is getting fierce as market growth has slowed down. As a pioneer in bringing chocolate-coated pies into Vietnam, and the best known brand with 60 percent of market share, Orion Vina ignited the great chocopie war. With a localization strategy, Orion Vina has created a product suited to the Vietnamese taste. In 2003, Pham Nguyen Food Processing and Confectionary spent $2 million to import a 10 ton/day production line from South Korea and began making similar chocolate-coated pies, called Choco P&N and Phaner Pie.  Empowered with the $9.3 million investment from Japanese Mizuho ASEAN Investment LP, Pham Nguyen has geared up for the chocopie competition. It has opened a third factory in Hung Yen province after factories in Long An and HCMC. As a pioneer in bringing chocolate-coated pies into Vietnam, and the best known brand with 60 percent of market share, Orion Vina ignited the great chocopie war. While Orion targets children and those who buy Chocopie for gifts, Pham Nguyen sells pies targets women and children. The weight of Pham Nguyen’s pie is smaller than that of the rival (18 gr vs 30 gr), while the manufacturer tries to minimize the costs for packaging design. Bibica, when developing its strategic products, also focuses on pies. In April 2017, Bibica marketed Mini Pie Orienko to compete with the big rivals. The 18 gr pie, with no preservatives and more chocolate, has a competitive price of VND30,000 per 264 gr box. …... [read more]




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