Herb Cochran, senior director of Trade Facilitation and Special Projects of AmCham Vietnam in HCM City, speaks with media on the sidelines of a seminar on food safety regulations (Source: VNA) HCM City (VNA) - Vietnamese enterprises should strive to meet strict food safety requirements from importing countries, especially choosy markets like the US, Japan, the Republic of Korea, and the European Union (EU), participants said at an international seminar held in Ho Chi Minh City on April 3. It is now time to comply with new regulations as food-safety regulation non-compliance is the largest barrier to entry for Vietnamese firms, said Herb Cochran, senior director of Trade Facilitation and Special Projects at AmCham Vietnam in HCM City. To integrate into the global market, Vietnamese businesses must learn more about regulations and improve quality to meet these new standards, he said. Vu Kim Hanh, Chairwoman of the High Quality Vietnamese Goods Business Association, … [Read more...] about Domestic firms advised to satisfy food safety requirements
Singers promising to perform and then not following through has harmed their relationships with showbiz organisers, but they are still quitting shows after contracts have been signed. However, they may be better advised to curb this habit sooner than later. Quitting shows – a bad habit The Vietnamese showbiz industry is developing and the working style is becoming more professional. From oral agreements between show organisers and singers, singers and show organisers have advanced to signing contracts, even in the presence of lawyers. However, despite signed contracts, many singers still quit committed shows, resulting in scandals and lawsuits, such as the cases between singer Anh Kiet and GMC, organiser Dung and singer Ung Hoang Phuc, singer and actor Nguyen Vu and the “Duyen Tran Thoat Tuc” (Leave Love of Dust) film crew. Some Vietnamese singers have dared to quit shows signed with foreign organisers. People still remember the scandal of pop star Dam Vinh … [Read more...] about Vietnamese performers may have to change their act!
Bitcoin prices have surged this year from less than US$1,000 in January to US$17,000 last week, after trading in the digital currency began on the Chicago Board Options Exchange - the first time it has appeared on a traditional platform.But in an interview with the NZZ am Sonntag weekly, UBS boss Axel Weber warned investors against jumping on the bandwagon, saying the bubble would inevitably burst."In my opinion, bitcoins are not money," he said, adding that the virtual currency had significant "design flaws".Money is meant to fulfil three main functions and bitcoins fail at all of them, he said.The currency is not an effective means of payment since it is not universally accepted, it is not a good measure of value since prices are not written in bitcoins, and it is not an effective way to store value, since it is inherently unstable, he said.The main problem, he said, is that with no central bank and no issuer controlling the supply, the value is determined solely by demand, … [Read more...] about UBS boss says bitcoins ‘not money’, urges regulators to act
Measures sought to increase added value of coffeeMeasures were sought to promote coffee processing to enhance coffee export value to 6 billion USD by 2030 at a workshop in Da Lat city, the Central Highlands province of Lam Dong on December 9.The event was organised by the Vietnam Coffee and Cocoa Association (VICOFA) and the Ministry of Agriculture and Rural Development (MARD).Addressing the event, MARD Minister Nguyen Xuan Cuong underlined the development of the coffee sector.Vietnam made up less than one percent of the world’s coffee output 30 years ago. In 2016, Vietnam became the world’s second biggest coffee producer, with 645,000 hectares producing 1.6 million tonnes of beans. The sector earned 3.4 billion USD in export value and provided jobs for some 600,000 people in the year.Coffee plants have made significant contribution to the nation’s development and the wellbeing of Vietnamese farmers, Cuong said.By 2030, Vietnam aims to reduce coffee growing area … [Read more...] about BUSINESS IN BRIEF 15/12
While brands and celebrities in Vietnam are embracing Facebook Live, a live-streaming video service, as a new medium for advertisements, local tax authorities are scratching their heads on how to collect taxes on income generated by such activities.Vietnamese celebs and tastemakers with massive social media followings, often in the tens of thousands, are being paid by companies to promote products and brands through well-worded Facebook posts and carefully-scripted Facebook Live broadcasts.Brands looking to extend their advertising reach do their best to leverage the social media accounts of celebrity endorsers by engaging with potential customers through a medium that many feel is more relatable than conventional advertising.Industry insiders claim that smaller brands will pay lesser-known live-streamers anywhere from VND20 million ($881) to VND25 million ($1,101) per live broadcast while local celebs can rake in a few hundred million dong per month from social media advertising … [Read more...] about Can Vietnam ask Facebook live-streamers to pay taxes?
When French drugmaker Sanofi published the results of clinical trials of children given its dengue vaccine two years ago, the overall findings were that it protected against the world's biggest and fastest growing mosquito-borne disease. But the trial also showed that in the third year after receiving the Dengvaxia inoculation, younger children were more likely to end up in hospital with a severe case of dengue than those who didn't get the vaccine. The study's authors cited two main possibilities: the children had immature immune systems that made the vaccine less protective, or the vaccine itself made them more susceptible to severe disease if they had never had dengue and later became infected. More than two years later, it turns out the latter was the primary factor - a revelation at the end of last month that has triggered alarm among hundreds of thousands of anxious parents in the Philippines, where the vaccine has been given to over 830,000 children. It has also torpedoed … [Read more...] about Did Sanofi, WHO ignore warning signals on dengue vaccine?
City advised to set aside one-sixth of land for fighting floodBy Ngoc Hung - The Saigon Times DailyHCMC – The city needs to set aside some 25,500 hectares of its total natural area for building floodwater draining canals and runoff regulation lakes, otherwise flooding will turn catastrophic in 2025 upon any downpour, said a senior agriculture official.Dao Xuan Hoc, deputy minister of agriculture, said at a meeting here on Wednesday with irrigation scientists that over 70% of the city would be submerged under water by any downpour if runoff canals are not expanded. Citing a project prepared by the ministry, Hoc said that the city had to earmark 25,560 hectares of land for building new canals, plus 8,400 hectares of water regulation lakes at current parks. That means the city has to set aside over 16%, or some one-sixth, of its total natural land for the purpose, he stressed.Some scientists at the meeting expressed their doubt whether the city would be willing to set aside such … [Read more...] about City advised to set aside one-sixth of land for fighting flood
Comrade Nguyen Thach Thao in her speechThis is the confirmation of comrade Nguyen Thach Thao representing the capital’s youth to address a speech at the 11th National Congress of the Ho Chi Minh Communist Youth Union. Studying and following the ideology, morality and style of President Ho Chi Minh is defined as the most important duty in education that have been concretized for each subject and implemented with many abundant models. The studying and following has permeated and become the self-act of young people. Many new models, good ways, and creativity emerged and were replicated throughout the city. Each youth union or youth member actively designed and selected programs and specific jobs in studying and following Uncle Ho’s example. With this, over the past few years, the capital youth union discovered and honoured thousands of examples. Together with traditional educational methods, the use of fanpages to connect the social network community widely, transmit … [Read more...] about Enhancing education in revolutionary ideal, morality and style for youth
Experts: VN economy promising next yearHung Le HCMC – With positive achievements this year, experts have forecast Vietnam’s economy would continue growing steadily next year, heard a seminar themed “Vietnam’s economic prospects in 2018”. At the seminar held by the HCMC CEO Club in the city last Thursday, Nguyen Duc Kien, vice chairman of the National Assembly’s Economic Committee, said Vietnam could obtain the gross domestic product (GDP) growth target of 6.7% this year. The country will continue stabilizing the macro economy, controlling inflation and speeding up the economic restructuring next year. The Government will accelerate public administration reforms, combat corruption, and improve the institutional capacity for market economy and business environment, Kien added. The Government will also amend laws on investment, bidding and construction to help enterprises overcome difficulties. In addition, Kien noted that there are still up to 241 … [Read more...] about Experts: VN economy promising next year
As she announced in January 2016 that the Philippines would immunize one million children with a new dengue vaccine, the nation's then health secretary Janette Garin boasted it was a world-first and a tribute to her country's "expertise" in research.At the time, it seemed the Philippines could be on the cusp of a breakthrough to combat a potentially lethal tropical virus that had been endemic in large parts of the Southeast Asian nation for decades.Almost two years later, the program lies in tatters and has been suspended after Sanofi Pasteur, a division of French drug firm Sanofi, said at the end of last month the vaccine itself may in some cases increase the risk of severe dengue in recipients not previously infected by the virus.Documents reviewed by Reuters that have not been disclosed until now, as well as interviews with local experts, show that key recommendations made by a Philippines Department of Health (DOH) advisory body of doctors and pharmacologists were not heeded before … [Read more...] about Philippines defied experts’ advice in pursuing dengue immunization program