Two projects found discharging waste water into Da Nang beaches

Trade between ASEAN and China rose from 8 billion USD in 1991 to 425 billion USD in 2016, up about 56 times within 15 years. (Photo: linkedin.com)   Beijing (VNA) – The Association of Southeast Asian Nations (ASEAN) and China should strengthen their links in trade, investment and finance, a professor from the People’s University of China (PUC) has said. Liu Ying, a professor of the PUC’s Chongyang Institute for Financial Studies, said the development of economic and trade ties between ASEAN and China will be significant to economic growth of each side in the years to come. To bring into full play their cooperation potential, Liu Ying called on ASEAN and China to intensify their connectivity in policies, infrastructure and transport as well as cyber connectivity, along with enhancing political trust. The professor highlighted the quick formation of cross-border economic cooperation areas between China and ASEAN’s neighbouring countries like Vietnam, Laos and Cambodia, saying such zones have helped with the process of industrialisation, urbanisation and informationalization in these countries. Liu Ying said both ASEAN and China should double efforts to improve their investment environment and propose more measures and policies to attract investors from the other side. At the same time, it is necessary for them to increase the flows of direct capital and boost infrastructure construction in the financial sector, Liu Ying said, urging China to provide more support for the ten-member group in the capital market and financial connectivity. …... [read more]

Illustrative image (Source: VNA) Lam Dong (VNA) – The Ministry of Agriculture and Rural Development held a conference in the Central Highlands city of Da Lat on August 14 to discuss developing high-tech agriculture in Lam Dong province.  Speaking at the event, Deputy Minister of Agriculture and Rural Development Le Quoc Doanh said over the past three decades of renovation, Vietnam has become self-sufficient in food with an annual export of 30 billion USD, providing livelihoods for 10 million rural households and contributing nearly 22 percent of the gross domestic product and 23-35 percent of exports. However, the agricultural sector tends to grow slowly due to spontaneous and small-scale production, limited technological application in agro-forestry-fisheries, and impacts of climate change, environment pollution and food hygiene. Participants hailed Lam Dong for being on the way towards a model of high-tech farming. A representative from the Ministry of Natural Resources and Environment’s General Department of Land Management underscored the need to refine regulations on the rights of land users and issue policies to encourage the rent of land use rights. According to the State Bank of Vietnam (SBV), outstanding loans for the field has amounted to 177.4 billion VND (7.71 million USD), but farmers currently lack information about domestic and foreign consumption markets. The SBV directed commercial banks to offer more loans to the drive and pledged all possible support throughout the process. On the occasion, the MARD…... [read more]

VietNamNet Bridge – Vietnamese sculptor Nguyen Lap Phuong is one of 13 international artists showcasing their artwork at the Kohler Bold. Art. exhibition opening this week in Ha Noi. Octupus shape: Sculptor Nguyen Lap Phuong (left) and noted Vietnamese sculptor Le Cong Thanh pose next to the art piece "Peaceful Birth" by Phuong. – Photo courtesy of the organizer The exhibition, "Multiculturalism", displays sculptures of 13 artists from the Asia-Pacific and Middle East regions. Phuong’s minimalist-style steel art piece Me Tron Con Vuong (Safe Child Birth) was inspired by the relationship between the ocean and the octopus. “In my concept, the octopus symbolises modern artists, who are required to be smart, flexible, adaptable to any cultural and social change and able to work in any multicultural environment. Its long arms are an important organ to absorb information from the ‘multicultural ocean’,” the 28-year-old sculptor explained.    Consisting of a round and dark-coloured base and a metal round-shaped octopus above, the piece also explores the traditional concept of “Round Sky, Square Earth”, reflecting Vietnamese respect for the heaven and earth. The female artist also applied silver sheet inlaid, a traditional Vietnamese technique used in making lacquer and ritual items, onto her gilded piece. A layer of natural lacquer (sap of the Rhus succedanea tree), is also used in the work to enhance its gilding inlay. The Hai Phong-born artist explained that contrasting elements - steel and silver sheet - represent hard-to-harmonize conflicts in a multicultural context: old–new, traditional–modern, positive–negative, and national…... [read more]

It is predicted that Vietnam may well become a net beneficiary of such capital inflows in the years to come. To demonstrate the less-restricted capital flows currently streaming through the region following the establishment of the ASEAN Economic Community (AEC) in late 2015-which committed to promoting free investment flows and freer capital flows – Sumit Dutta, CEO of HSBC Indonesia, gave an example of one of the lender’s biggest clients in Indonesia. This client visited Vietnam last year to meet with representatives from the top 10 corporates in the country. “Our customer here in Indonesia was interested in two particular sectors, one is the consumer beverages sector and the second is the dairy sector. This particular investor already had a number of businesses in Indonesia, [and is] keen to add [these sectors] to his investment ranges,” Dutta told VIR over the phone after an HSBC regional briefing on ASEAN’s 50th anniversary. According to Dutta, his customer was rather pleased with the prospects of Vietnam as a fast-growing ASEAN market, and client came to this decision after being guided by Dutta’s senior management team across the nation over the course of three days, meeting with representatives from the leading corporates across Vietnam. Indonesian investors are not the only ones with a desire to enter Vietnam. Dutta mentioned others from ASEAN nations such as Thailand, Singapore, and Malaysia that are also seeking the right sectors to get involved with. “We very often find…... [read more]

The recent tourism boom is fueling the rise of condotels in Vietnam, but both officials and industry insiders have warned of a supply surplus and a lack of legal guidelines for the new realty market. Condotels, short for condo hotels, have been springing up in Vietnam over the past five years, especially in popular tourist destinations such as Da Nang, Nha Trang and Phu Quoc. Many investors prefer them as they can resell individual condotels to small investors instead of bearing the financial responsibility for an entire project. Subinvestors are usually promised a share of the profit after around 10 years. Along the coasts of Da Nang and Nha Trang, dozens of condotel projects are being built. One of them is a 25-story project with more than 1,000 units standing on the famous My Khe Beach in the heart of Da Nang. In Nha Trang, around 20 projects with more than 10,000 units have been licensed, and a tenth of them are already in service. Dong Luong Son, the vice chairman of Khanh Hoa Province's Tourism Association, said the tourism boom has heated up the resort property market. The province’s international airport in Cam Ranh receives up to 70 flights a day, and hotels in town as well as the nearby Nha Trang are usually fully booked, which makes condotels an attractive new investment option, he said, as cited by Tuoi Tre (Youth) newspaper. A survey showed that 7,000 new apartments were completed in Khanh Hoa last year, and 70…... [read more]

The current technology era is creating both opportunities and challenges for businesses in the process of enhancing and managing resources, delegates told a seminar in HCM City on Friday. A panel discussion session on retaining talent in the technology era at a seminar themed “Agile talent – Disruptive technology for growth” held in HCM City on August 11.  When technology supports organisational operations, it consequently begins replacing people in organisation. As a result, the importance of human resources management will be the top priority in any business strategy for companies worldwide, they said. Not only does it help increase efficiency, simplify and automate processes, technology also helps to gather necessary data in assessment and analyses, from which better decisions are drawn. Therefore, the HR management is considered vital to a business, and technology helps support management talent and leadership development. But retaining talent in technology has become more challenging. Nguyen Thi Bich Van, chairwoman of Unilever Vietnam, said that with so many changes brought about by technology, such as the open opportunity for work and personal development in a flat world, businesses are facing many “difficulties” in retaining talent. Creating an attractive environment to make employees think that "going to work" is less stressful has become one of the main focuses that enterprises need to implement, she said. Van said when applying technology, businesses need to consider cultural factors. Derek Goldberg, managing director, Southeast Asia and Hong Kong at Aetna International, emphasized that many companies fall easily into technology “traps"…... [read more]

The Ministry of Industry and Trade has announced it is preparing to review 30 years of foreign direct investment (FDI) attraction in Vietnam.  The review will be based on a report on 25-year FDI attraction and a similar survey for 2012-2017 collecting feedback from ministries, agencies, localities, business associations and experts.  They offered insight into support industry, connectivity between domestic and foreign firms, technology, FDI attraction into infrastructure and high-quality agriculture and services, taxes and incentives and State management in FDI.  Since the Law on Foreign Investment was promulgated in 1987, the foreign-invested sector has expanded and contributed to Vietnam’s development.  However, there have been violations of legal regulations on environment and tax, as well as transfer pricing, among others.  FDI inflow saw a 54.8 percent surge annually in the first half of this year to reach 19.22 billion USD, according to the ministry’s Foreign Investment Agency  The figure included 11.83 billion USD poured into new projects. Japan surpassed the Republic of Korea to become Vietnam’s leading source of FDI in the period, pumping 5.08 billion USD into the country, 26.5 percent of total FDI. Investors from the RoK invested 4.95 billion USD, or 25.8 percent, while those from Singapore poured 3.48 billion USD, or 18.1 percent. In the same period, FDI disbursement experienced a year-on-year increase of 6.5 percent to 7.72 billion USD.  The foreign-invested sector accounted for 71 percent of the country’s six-month export turnover. The sector also recorded a trade surplus of 10.22 billion USD in the…... [read more]

NDO/VNA – The Ministry of Agriculture and Rural Development held a conference in the Central Highlands city of Da Lat, on August 14, to discuss the development of high-tech agriculture in Lam Dong province. Speaking at the event, Deputy Minister of Agriculture and Rural Development Le Quoc Doanh said that over the past three decades of renovation, Vietnam has become self-sufficient in terms of food production, with an annual export of US$30 billion, providing livelihoods for 10 million rural households and contributing nearly 22% of the gross domestic product and 23-35% of the total exports. However, the agricultural sector tends to grow slowly due to spontaneous and small-scale production, limited technological application in agro-forestry-fisheries, in addition to the impacts of climate change, environmental pollution and food hygiene. Participants hailed Lam Dong for its direction towards becoming a model of high-tech farming. A representative from the Ministry of Natural Resources and Environment’s General Department of Land Management highlighted the need to refine the regulations on the rights of land users and issue policies to encourage the rent of land use rights. According to the State Bank of Vietnam (SBV), outstanding loans in the field has amounted to VND177.4 billion (US$7.71 million), but farmers currently lack information concerning domestic and foreign consumption markets. The SBV directed the commercial banks to offer more loans to the drive and pledged to give all possible support throughout the process. On the occasion, the MARD presented certificates recognising Da Lat Hasfarm and An Huu companies as…... [read more]

Dong Thap Province wants breeding of white-leg shrimp in inland areas curtailed since the saltwater from these farms harm the environment. — VNS Photo sggp.org.vn The People’s Committee of Dong Thap Province has directed relevant agencies and district authorities to ensure farming of white-leg shrimp in freshwater zones is not expanded since the saltwater discharged by these farms affect water bodies and crops. White leg shrimp was traditionally farmed in the sea, but in the last three years many inland farmers, seeing the crustacean offers good profits, have exploited groundwater and added salt to it to farm it. Some households earn a profit of VND50,000-80,000 per kilogramme, persuading many others to follow suit. But the farms discharge their salinised water into the environment, causing authorities to worry about its effect on rice cultivation and farming of freshwater species. Besides, white-leg shrimps are vulnerable to diseases, and the larger the area in which they are farmed, the higher the risk of disease outbreaks. According to the Government’s master plan for the fisheries industry until 2020, Dong Thap is not in the list of localities zoned for white-leg shrimp breeding. Though authorities have urged farmers not to breed white-leg shrimp in freshwater areas, the creatures are being farmed on around 150ha in Tam Nong District. Chau Hong Phuc, deputy chairman of the province People’s Committee, said his administration has instructed the Department of Natural Resources and Environment and other agencies to…... [read more]

Illustrative image (Source: VNA) Hanoi (VNA) – The Ministry of Industry and Trade has announced it is preparing to review 30 years of foreign direct investment (FDI) attraction in Vietnam.  The review will be based on a report on 25-year FDI attraction and a similar survey for 2012-2017 collecting feedback from ministries, agencies, localities, business associations and experts. They offered insight into support industry, connectivity between domestic and foreign firms, technology, FDI attraction into infrastructure and high-quality agriculture and services, taxes and incentives and State management in FDI. Since the Law on Foreign Investment was promulgated in 1987, the foreign-invested sector has expanded and contributed to Vietnam’s development. However, there have been violations of legal regulations on environment and tax, as well as transfer pricing, among others. FDI inflow saw a 54.8 percent surge annually in the first half of this year to reach 19.22 billion USD, according to the ministry’s Foreign Investment Agency The figure included 11.83 billion USD poured into new projects. Japan surpassed the Republic of Korea to become Vietnam’s leading source of FDI in the period, pumping 5.08 billion USD into the country, 26.5 percent of total FDI. Investors from the RoK invested 4.95 billion USD, or 25.8 percent, while those from Singapore poured 3.48 billion USD, or 18.1 percent. In the same period, FDI disbursement experienced a year-on-year increase of 6.5 percent to 7.72 billion USD. The foreign-invested…... [read more]




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