Five firms to sell stake in A Vương Hydropower

Hanoi, August 17 (VNA) - For several months now, the market for textbooks, reference books and study kits has been abuzz with activity as the new school year approaches.  However, this has also kept concerned agencies busy raiding and seizing illegally printed copies of the above-mentioned materials.  The Vietnam Education Publishing House said its investigation department has busted several cases of illegal printing in the last few months.  In Hanoi, Hai Anh Co Ltd. was found to have illegally printed 30,000 English textbooks; Thien Phu Printing Factory and Hai Chien Packaging Printing Company were discovered to illegally possess a large amount of pirated copies of English textbooks.  In the central region, the department detected illegally-printed primary school textbooks in Quang Ngai province and large volumes of secondary school English textbooks in Da Nang city and Khanh Hoa province. More than 3,000 copies of textbooks, mainly in English, were collected in Dak Lak.  Illegal printing of textbooks isn’t something new, it has been an open secret for many years, something that has never stopped.  Authors, publishers and printing houses have pleaded for this practice to stop, but pirated books still exist despite repeated raids and fines.  No official figures are available about the damage caused, but publishers estimate losses caused by the contraband book market at several billions of  VND every year.  Previously, the activity was confined to new books and bestsellers, but now, all curricula, textbooks, reference books and English books…... [read more]

Though network operators repeatedly affirm the outstanding quality of 4G services, surveys have found that access is poor to average.   VinaPhone, MobiFone and Viettel, the three biggest mobile network operators, are the ‘warring parties’ in the 4G service market. All of them committed to nationwide 4G coverage after receiving licenses for 4G. However, even in inner districts of Hanoi, the access to 4G has been problematic. Customers in Dong Da and Cau Giay complain that access is often denied. A customer on August 3 told Lao Dong that he successfully registered to use MobiFone’s 4G service, but there was no display of any data network on the phone’s screen. Prior to that, a customer also complained about the display speed, saying that the network displayed only five minutes after an officer at Viettel’s branch on Nguyen Phong Sac Street in Cau Giay district in Hanoi finished the registration. The officer said that problems sometimes occur, while the service quality depends on positions. Though network operators repeatedly affirm the outstanding quality of 4G services, surveys have found that access is poor to average.  The same problems are occurring with VinaPhone network. 4G network is not displayed in some inner and suburb districts. According to a customer care officer, there are BTS in districts far from centers like Long Bien, Hoai Duc and Soc Son, but…... [read more]

Instead of lending to large companies, more and more banks have started to lend to small businesses to hedge their risks. More and more banks are offering loans to small businesses, their traditional wariness notwithstanding. - Photo At several conferences on credit for enterprises, experts have said that helping small and medium-sized enterprises (SMEs) access bank loans is very important. However, according to a report by the Việt Nam Chamber of Commerce and Industry, 85-90 per cent of Vietnamese enterprises are small and micro businesses that face great difficulty in obtaining credit. Only 40 per cent of them have in fact managed to do so. Banks are cautious about lending money to SMEs due to a lack of trust in their ability to repay. Hoàng Thu Hương of HCM City’s Bình Thạnh District runs an online shop selling sweet dessert and bubble tea and two other drinks and fast food shops. She wants to expand her business but has been unable to borrow from banks, who told her that her business is small and she has no assets to mortgage. She has been forced to borrow from other sources at high interest rates. Small businesses like Hương’s are caught in a vicious circle: they are too small for banks to lend, but they cannot get any bigger without bank loans. Top executives of several banks do not deny this fact,…... [read more]

SEOUL: Hyundai Motor Co said on Thursday it was placing electric vehicles at the centre of its product strategy: one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla and other rivals. File photo of Hyundai. (Photo: AFP/Saul Loeb) Like Toyota Motor Corp, Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting electric as Tesla shot to prominence and battery-powered cars have gained government backing in China. Toyota is now also working on longer distance, fast-charging electric vehicles, local media have reported. The South Korean automaker is planning to launch an electric sedan under its high-end Genesis brand in 2021 with a range of 500 km (310 miles) per charge. It will also introduce an electric version of its Kona small sport utility vehicle (SUV) with a range of 390 km in the first half of next year. "We're strengthening our eco-friendly car strategy, centering on electric vehicles," Executive Vice President Lee Kwang-guk told a news conference, calling the technology mainstream and realistic. The automaker and affiliate Kia Motors Corp, which together rank fifth in global vehicle sales, also said they were adding three plug-in vehicles to their plans for eco-friendly cars, bringing the total to 31 models by 2020. Underscoring Hyundai's electric shift, those plans include eight battery-powered and two fuel-cell vehicles…... [read more]

The Ha Thanh Xam singing (ballads sung by wandering blind musicians) troupe, particularly its member – musician and artist Nguyen Quang Long, has actively created new and effective ways to bring this traditional arts form closer to their audiences. A show of Ha Thanh Xam troupe The musician granted an interview with the Thoi Nay (Present day) publication of Nhan Dan (People) Newspaper to share information on their the upcoming activities. Q: What does the troupe plan to do in the near future? A: During this autumn, the troupe will perform two important events including a programme themed ‘Mother’s kindness’, on August 30 at Hong Ha Theatre, and a traditional musical programme entitled ‘The soul of Vietnamese villages’. The programme ‘Mother’s kindness’ was organised for the first time in 2016, with the aim of creating a warm traditional music space and honouring traditional values in modern life. This year’s event will be organised on a larger scale and the tickets for the show have already been sold. The programme ‘The soul of Vietnamese villages’ will introduce the special characteristics of the traditional culture in the northern delta region. The programme aims to serve visitors, therefore, artists will be mainly introducing imstrumental music. Q: Xam singing has been introduced at numerous spaces and programmes, from Dong Xuan market to abroad, from music lounges to concert halls and communal houses’ yards, as well as…... [read more]

Prime Minister Nguyen Xuan Phuc has approved a plan to develop Viet Nam’s bond market in 2017-20 with a vision to 2030. Prime Minister Nguyen Xuan Phuc has approved a plan to develop Viet Nam’s bond market in 2017-20 with a vision to 2030.- Photo The target of the plan, which was published on local media on Monday, is to create a stable, well-structured and balanced bond market that is more open to investors. The Government also aims to increase the scale and the quality of the market, diversify products and services, and ensure trading activities are transparent, public and efficient, making Viet Nam’s bond market able to integrate with others and meet international standards. Under the new plan, the Government hopes the value of Viet Nam’s bond market will be equal to 45 per cent of the country’s gross domestic product (GDP) by 2020 and 65 per cent by 2030. Of the total, the value of Government bonds, Government-backed bonds and local government bonds is hoped to be equal to 38 per cent of the GDP by 2020 and 45 per cent in the next 10 years. In addition, the value of corporate bonds is expected to equate to 7 per cent of GDP by 2020, and increase to 20 per cent by 2030. The plan also sets the average maturity term of Government bonds at six-seven years for 2017-20…... [read more]

Prime Minister Nguyen Xuan Phuc (L) shakes hands with his Thai counterpart Prayut Chan-ocha (Source: VNA) ​Bangkok (VNA) – Prime Minister Nguyen Xuan Phuc and his Thai counterpart Prayut Chan-ocha expressed their satisfaction at the strong development of Vietnam-Thailand cooperation over the past 41 years since they established diplomatic ties in August 1976, during their talks in Bangkok on August 17. The two PMs recognised that the bilateral relations have been stable and developed in all fields from politics and security to economy and socio-culture, especially after Vietnam and Thailand established a strategic partnership in 2013. To further the relationship in the coming time, they agreed to enhance all-level delegation exchanges and effectively implement cooperation mechanisms in addition to soon organising the third meeting of the joint committee on bilateral cooperation, the third foreign minister-level meeting, the third meeting of the joint committee on trade, and particularly the fourth joint cabinet meeting. [Vietnam aims for deeper relations with Thailand through PM’s visit] Both sides vowed efforts to raise bilateral trade to 20 billion USD by 2020 and support each other to become centres for investment and trade in the region. They agreed to foster rice-related cooperation and provide favourable conditions for Vietnamese and Thai rice to access each other’s market. PM Chan-o-cha affirmed that he will encourage Thai businesses to increase investment in fields critical to Vietnam’s development such as tourism, support industries, finance, banking, science-technology, and agro-fisheries. Both leaders stressed that security-defence …... [read more]

Viet Nam will conduct food safety control system which is equivalent to that of the US. — Photo Exports of tra fish to the United States have remained stable after it imposed a demand that exporting countries demonstrate that their food safety control system is equivalent to that of the US. An announcement to this effect by the Vietnam Association of Seafood Exporters and Producers (VASEP) on Thursday has belied fears and reports that exports of the fish could be rejected or cancelled in the coming time. Reports of rejection or cancellation of Vietnamese tra fish exports “has no basis,” VASEP said in a note. It said that tra fish exports to the US had declined in the first quarter due to a shortage of raw materials, but recovered in the second quarter with an 8.4 per cent increase, thanks to rising demand and increase in supply of raw material. VASEP General Secretary Truong Dinh Hoe said while the equivalence process was not yet completed, it was prudent not to assume any possibility of Viet Nam not passing such determination or speculate on suspension of ongoing exports. “During the 18-month transitional period, both sides have worked out co-operative approaches to common issues in question and US Food Safety and Inspection Service (FSIS) has also given close guidance on how to comply with its requirements,” Hoe said. He also said that while Viet Nam’s tra industry is well developed with…... [read more]

VPBank targets a pre-tax profit of VND6.8 trillion for this year. — Photo Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) on Thursday officially listed more than 1.33 billion shares on the HCM Stock Exchange (HoSE). The shares were listed at a reference price of VND39,000 (US$1.72) per share. In the first minutes of the at-the-opening-order (ATO) session, VPBank matched a total of 46 million shares with a reference price of VND39,000. This price helped VPBank earn a record of nearly VND1.8 trillion, of which, foreigners spent VND1.45 trillion on purchasing more than 37 million out of 46 million shares during the ATO session. Subsequently, the shares fluctuated from VND33,000 to VND36,000 per share. At the end of the morning session, VPBank shares were at VND36,000, down 7.7 per cent from the reference price. The trading volume of this stock reached VND1.9 trillion, accounting for 53 per cent of the total market liquidity in the morning session. VPBank is the 10th bank to list on the stock exchange and is the 423rd member of HoSE. It is also the private bank with the largest market capitalisation value of nearly VND52 trillion. Bank chairman Ngo Chi Dung said VPBank marked the return of banking stocks to the stock market after nearly three years. Share listing was also a challenge in ensuring sustainable growth and business performance, he said. Besides this, VPBank was responsible for ensuring transparency of information in…... [read more]

Customers shop at a supermarket in HCM City. Around 3,000 retail businesses and 5,300 business households will offer discounts and freebies during HCM City’s annual promotion month from September to December. — VNS Photo HCM City’s annual sales promotion month from September until the end of the year is expected to boost retail sales and attract a large number of foreign visitors. According to the Department of Industry and Trade this year the event is expected to involve 3,000 trade centres, supermarkets, convenience stores and traditional markets and 5,300 business households, a significant increase from last year. They will organise around 12,000 promotions focused on consumer products, electronics, fashion, foodstuff, cosmetics, telecom services, interior decoration items, tourism services, hotels, and others. Besides offering discounts, participating establishments will also offer freebies, lucky draws and free samples. The department said all 24 districts had completed the task of putting up banners to promote the programme. There are usually many programmes during the annual promotion, including an online promotion week, a promotional month fair at the Phu Tho Indoor Stadium, the Diem hen Sai Gon (Saigon meeting place 2017) programme to introduce products made by traditional villages and craft artisans, and several others. Nguyen Phuong Dong, deputy director of the department, said the promotion month would begin with the Hoi tu hang Viet (the convergence of Vietnamese goods) event. To be held for the first time, it will provide Vietnamese companies with…... [read more]

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