Fayfay.com announces strategic partnership with Ho Chi Minh City tourism Hong Kong-based Fayfay.com on December 6 announced that it signed a Memorandum of Understanding (MoU) with the Ho Chi Minh City Tourism Promotion Centre to promote tourism in Vietnam, with a special focus on the city. The MoU was signed by Tran Ngoc Dong Quan, deputy director of the Ho Chi Minh City Tourism Promotion Centre, along with Kingston Lai and Kelvin Wu, the co-founders of Fayfay.com, at Bep Nha Luc Tinh Restaurant in Ho Chi Minh City, in the presence of industry experts and members of the media. “Ho Chi Minh City is an important destination on Fayfay.com and we look forward to partnering with the Ho Chi Minh City Tourism Promotion Centre to showcase the city’s vibrant architecture, rich culinary scene, and authentic local experiences,” said Lai. “We believe strategic joint promotional activities with the Tourism Promotion Centre will enable us to leverage our online platform and … [Read more...] about BUSINESS NEWS IN BRIEF 10/12
American express leading hotels of the world
BUSINESS NEWS IN BRIEF 18/11
Edelweiss launches Zurich-HCMC air service Vinalines to auction shares of its subsidiary Viet Nam National Shipping Lines (Vinalines) will auction over 13.44 million shares of its holding in Viet Nam Transport and Chartering Joint Stock Company (Vitranschart) on December 5, the Ha Noi Stock Exchange has announced. The shares, accounting for a 22.03 per cent stake of Vitranschart, will be auctioned at the Ha Noi bourse at the starting price of VND1,200 (5 US cents) a share. Vinalines is currently Vitranschart’s parent shareholder with a total of 35.4 million shares, equivalent to 58 per cent of the firm’s voting shares in circulation. Currently, Vitranschart is trading at VND700 per share, and there is almost no matched stock in recent sessions. Vitranschart reported a loss of more than VND182 billion in the first nine months of 2018. Although this figure was VND40 billion lower than in the same period last year, the loss contributed to raising the accumulated … [Read more...] about BUSINESS NEWS IN BRIEF 18/11
BUSINESS NEWS IN BRIEF 21/10
Samsung concludes third training course for Vietnamese consultants Samsung Vietnam and the Ministry of Industry and Trade (MoIT) rounded off its third training course for Vietnamese consultants in the supporting industry with a ceremony in Ho Chi Minh City on October 19. Speaking at the ceremony, Truong Thanh Hoai, Director of the MoIT’s Heavy Industries Department, pointed out some of the industry’s weak points in terms of competitiveness and spare parts materials, attributing them to the limited management and investment capacity of local companies. He said the Government and other relevant ministries have issued many policies to support the growth of the sector, adding that Samsung’s courses are an important part of such efforts. Eight courses of this kind are scheduled to take place in 2018 and 2019, each lasting for three months, aiming to train 200 consultants in total. They are part of a memorandum of understanding (MoU) between the MoIT and Samsung … [Read more...] about BUSINESS NEWS IN BRIEF 21/10
Social News 8/8
CAAV asks Lao Cai to reconsider airport project In response to a proposal by the Lao Cai provincial government for building the VND5.8-trillion Sapa Airport, the Civil Aviation Authority of Vietnam (CAAV) has requested the locality to thoroughly study the necessity and efficiency of the project, reported the local media. According to CAAV deputy head Vo Huy Cuong, the local authorities should carefully weigh the impact of other means of transport, along with the province’s economic development orientation and tourism prior to preparing a plan for building the airport. Cuong stressed that building an airport is a legitimate aspiration for any locality; however, its feasibility must be mulled seriously, regardless of whether the project is backed by private or state funding. Cuong cited the examples of South Korea and Taiwan, noting that the two have fewer airports than Vietnam but their operations still lack efficiency. This is compensated by other transport systems there, such as … [Read more...] about Social News 8/8
Social News 7/8
Legal framework for child care on the internet Vietnam, with 64 million Internet users (67% of its population), is among Asian countries having the biggest number of Internet users. A majority of these users are children and teenagers, who are exposed to both benefits and dangers. In addition to close attention from parents and schools, a legal framework is needed to protect children from the risks of the cyber world. While browsing the Internet, children may encounter unexpected information and people. Their personal information can be hacked. More seriously, children can become victims of swindles, exploitation, harassment, and sex abuse. Online game and smartphone addictions can harm children’s mental and physical health. Parents should teach children how to find and use information on the Internet. Dang Hoa Nam, Director of the Department for Children of the Ministry of Labor, Invalids, and Social Affairs, said, “Parents play a very important role. They should be … [Read more...] about Social News 7/8
BUSINESS IN BRIEF 6/6
VN garment sector to boost export growth The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS). Truong Van Cam, VITAS vice chairman and general secretary, said many textile and garment companies had signed contracts to produce export products in the third quarter of this year. Many Vietnamese garment firms had also sustained high growth this year in traditional markets such as the United States, the Republic of Korea, the European Union, and member-states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Cam said a series of recently-signed free trade agreements (FTAs) was expected to boost the sector. Since 2001, Viet Nam had signed bilateral trade agreements with the US, Japan, China, and the Republic of Korea, as well as Australia, New Zealand, and India, and joined the World Trade Organisation. However, global demand for textiles … [Read more...] about BUSINESS IN BRIEF 6/6
Painter Foujita’s Cat
Viet Nam News by Nguyễn Quang Sáng On the 100th birth anniversary of the painter Foujita of Japan, his works become the most sought after by art fans worldwide. Based on his adventures, art connoisseurs came to the conclusion that a few of them were left in Việt Nam. From the USA, France, Australia, Canada and so many other countries, they contacted Vietnamese galleries in Hà Nội and Sài Gòn, by phone, email and letter, trying to secure the paintings at any cost, especially the one portraying a cat. Every artist has a typical work bearing the stamp of his or her talent for posterity. For Foujita, it is none other than the oil-painting of a cat. I was lucky enough to witness one of those chases. From Sài Gòn a few men took express trains while others flew to Hà Nội. In the southern megacity a lot of art hunters searched high and low for Foujita’s works in many galleries along Đồng Khởi Avenue, or in a … [Read more...] about Painter Foujita’s Cat
BUSINESS IN BRIEF 29/3
Vietnamese firms urged to deeply explore Cuban market Vietnamese, French firms urged to foster partnerships Domestic pharmaceuticals stocks send good vibes to Abbott and Taisho Since the beginning of the fourth quarter of 2018, pharmaceutical stocks have been forecast to thrive as bustling activities such as state divestitures, mergers and acquisitions (M&A), and notable investments from foreign healthcare firms are being announced left and right. Speaking about the investment and divestment activities between Vietnam-based pharmaceuticals and foreign investors, a representative of State Capital Investment Corporation (SCIC) disclosed that 34.71 per cent capital at Domesco Medical Import Export Joint Stock Corporation (HSX: DMC) is on its divestment agenda in April. US-based multinational healthcare firm Abbott has already expressed a wish to participate in the divestment. In late 2017, Latin American CFR International SpA, DMC’s former largest shareholder, transferred its … [Read more...] about BUSINESS IN BRIEF 29/3
BUSINESS IN BRIEF 14/1
Pepper growers concern about falling pricesPepper growers are entering the harvest season of 2018 in the southeastern region of Vietnam, concerning about price fall and output reduction because of pests and diseases.Traders now pay VND65,000-66,000 a kilogram of pepper, accounting for half of the price in the same period last year.Long lasting rains last year created conditions for pests and diseases to attack pepper crop, resulting in output drop this year.According to statistics, high pepper prices in previous years sent farmers to expand farming area to 40,100 hectares in Ba Ria-Vung Tau, Dong Nai and Binh Phuoc provinces in 2017. The area far exceeds the plan of 12,800 hectares by 2020 of the Government.That has broken supply and demand balance causing continuos price reductions for the last two years. Enterprises develop fast in number, efficiency low: economic survey 2017Data from economic survey of HCMC 2017 showed that although the number of enterprises quickly develops, their … [Read more...] about BUSINESS IN BRIEF 14/1