Cambodian authorities detain the accused and display the cash seized from them (Photo: Fresh News) Phnom Penh (VNA) – Cambodian authorities have recently discovered several illegal money transport cases with huge amounts through the country’s international airports. On July 9, three men from Hong Kong (China) were arrested at the Phnom Penh International Airport for bringing nearly 1 million USD in cash without making declaration. Local media quoted General Sok Phal, Minister of State of the Cambodian Interior Ministry, as saying that the men hid the money in three suitcases and a Chinese national had waited for them at the airport. Two days earlier, Cambodian authorities captured two Korean citizens - Yoon Won-gi and Song Hyun-hoo at the Siem Reap International Airport and seized up to 2.2 million USD. Local police said that the Koreans also travelled to Cambodia from Hong Kong. In February, the Paris-based Financial Action Task Force (FATF) … [Read more...] about Cambodia discovers illegal money transport cases
Efcc discovers money in ikoyi
The other four leaders are Starbucks, Phuc Long, Trung Nguyen and The Coffee House. According to research firm Vietnam Industry Research and Consultancy JSC (VIRAC), the country’s biggest coffee chains all saw double digit revenue growth in 2018. The Cao Nguyen Coffee Service JSC, which owns Highlands Coffee, recorded revenues of VND1.6 trillion ($68.67 million) in 2018, an increase of nearly 31 percent from the previous year. Highlands Coffee was founded in 2002 by a Vietnamese-American. In 2012, it was bought by Philippine fast food giant Jollibee. The brand takes a relatively different direction compared to competitors, focusing on coverage rather than consumer tastes. Although the chain maintains a simple, easy-to-choose beverage menu, many of its stores can be found positioned in large buildings, commercial centers, and other prime locations. According to VIRAC, because it had invested huge sums in shops, land and marketing, Highlands Coffee has only been really profitable … [Read more...] about Which coffee chain makes the most money in Vietnam?
No concrete solutions have been found for out-of-service ATMs as Tet nears as the demand for cash surges in HCM City. Withdrawing money in Tan Binh Industrial Zone on January 29 According to Sacombank, they have 1,072 ATMs and assigned employees to monitor the machines to refill the money. However, they have advised customers to bank branches when possible. The representative of Eximbank also said that they were still monitoring the ATMs before, during and after the Tet holiday. Vietcombank also announced that the ATM transactions increased four-fold compared to usual. When there's only VND100,000 (USD4.31) in the machines, the withdrawal limit will be lowered from VND5m to VND3.5m. It will further be reduced to VND1,750,000 if only VND50,000 banknotes are left. However, many people are complaining about problems with ATMs. The workers at Tan Binh Industrial Zone said on January 29 that they had to change ATMs five to seven times to gather enough money. According to the guards at … [Read more...] about ATMs run out of money in lead-up to Tet
VietNamNet Bridge - Vietnam has become an even more attractive destination amid escalating trade disputes. The land leasing rate in industrial zones (IZ) has soared since mid-2018, and is expected to continue in 2019. The increase in labor costs in China has led to many foreign manufacturers’ relocating their facilities since 2015. The relocation trend accelerated recently because of the US-China trade war. A report from the Ministry of Planning and Investment said the occupancy rate of IZs in Vietnam is now 73 percent. Meanwhile, 90 percent of commercial land in Thailand had been used by the end of Q2 2018, according to CBRE. A report from the Ministry of Planning and Investment said the occupancy rate of IZs in Vietnam is now 73 percent. Meanwhile, 90 percent of commercial land in Thailand had been used by the end of Q2 2018, according to CBRE. RELATED NEWS Vietnam wants more ecological IZs Industrial real estate developers see great opportunities in … [Read more...] about FDI to rise, IZ developers hope to make big money in 2019
Vu Nhom yet to return money in DongA Bank case despite own request The Saigon Times Daily Vu Nhom (L), former chairman of Bac Nam 79 Construction JSC, and Tran Phuong Binh, former general director and vice chairman of DongA Bank – PHOTO: THANH NIEN NEWSPAPER HCMC – Former Danang-based business tycoon Phan Van Anh Vu, alias Vu Nhom, has four times requested returning VND200 billion (US$8.6 million) to seek leniency in a high-profile graft case involving DongA Commercial Bank, but he and his family have yet to do so. Investigative police at the Ministry of Public Security have wrapped up their additional investigation into the DongA Bank case and submitted their conclusion to the Supreme People’s Procuracy on Wednesday, reported Thanh Nien newspaper. The police suggested prosecuting 26 people on alleged charges of causing a hefty loss of more than VND3.6 trillion (US$155 million) for the bank. They include Vu Nhom, 43, former chairman of Bac Nam 79 … [Read more...] about Vu Nhom yet to return money in DongA Bank case despite own request
Viet Nam News HÀ NỘI — As reliance on information technology becomes ever more pervasive in society, cybercrime has grown rapidly both in quantity and sophistication in Việt Nam, experts said. The Ministry of Public Security has recently worked with police departments in 52 provinces and cities to dismantle cases of fraud through the use of the internet, telecommunications and banking system to illegally appropriate others’ property. The trick the criminals deployed was looking for the accounts of bank customers who did not subscribe to internet banking services. The criminals broke into the banks’ websites and then tried to find ways to access the accounts and subscribe to internet banking services. Then, pretending to be bank employees, the criminals called the account holders asking for an OTP (one-time password) to disburse a loan. If the customer provided the password, the criminals could log into the account and appropriate the money by … [Read more...] about Sophisticated cyber crime on the rise in Việt Nam
VietNamNet Bridge - For new cosmetic brands which remain little known, it is not easy to make money. However, according to one businesswoman, the Vietnamese market is ‘easy in terms of customers’. At the Mekong Beauty Show, an exhibition on make-up, beauty care and spas held recently, TVR, a foreign invested cosmetics and food manufacturer, introduced a new biological skin-care mask, made of Ben Tre coconut extract. The product attracted the attention of many visitors. However, analysts say it’s early too say if the product can sell well in Vietnam, where more and more organic beauty-care products have appeared. A survey by Nielsen found that the demand for make-up made of natural materials or organic products in Vietnam is 40 percent higher than in other regional countries. The market analysis firm believes that the products made of chemicals are not the cosmetics Vietnamese are looking for. A survey by Nielsen found that the demand for make-up made of … [Read more...] about Can cosmetics manufacturers make money in Vietnam?
As part of the annual Europe Days 2018, the “Europe Village” recently held in Hanoi has been considered a culture highlight. The event impressed a number of locals and visitors, helping connect and strengthen mutual understanding between Vietnamese and European. For the first time, the European Union Delegation to Vietnam and 18 embassies of member states hosted the “Europe Village”. With some 20 cultural shows and performances, the programme introduced the European cultural diversity from arts, cuisine to fashion and lifestyle. "The event is helpful. I can learn about countries in the world, of which Spain leaves the deepest impression on me with many excellent football players," Tran Bao Nam, a student said. Ta Quang Hau, a Hanoian said that the event provides a chance to introduce international friends about its culture, cuisine and people. "The location of hosting the event is absolutely beautiful with Statue Ly Thai To right behind, The Huc bridge … [Read more...] about Discovering Europe in the heart of Hanoi
Test results on water pulled from a household well along Vietnam's north central coast have revealed traces of diesel, said an official on Tuesday. Do Khoa Van, director of the Department of Science and Technology in Ha Tinh Province, said it appeared that oil had seeped into the well through groundwater. Last week, local Thai Thi Hien, 39, detected the foul smell of petroleum coming from her family’s well, and when she tried to light the liquid, it burst into flames. She said her family has been using the well for 12 years, and "I’ve never seen anything like this." Hien is not the only one in the area who is suffering from the problem. Six other households in the neighborhood have also reported the smell of diesel coming from their wells. Some also suspect that a gypsum mine in the area is to blame. “Last year, diesel leaked from tanks at the gypsum mine, killing crops in the area,” said Hiep, a local. Van the science official said the locals’ claims were … [Read more...] about Vietnamese woman discovers diesel in household water well
Hanoians are increasingly turning to renting pretend Santas during the festive period. Imitation Father Christmases charge VND60-100,000 per gift delivered to one address. Hired Santa Claus services make big money in Hanoi Nguyen Thanh Tam in Ha Dong District, Hanoi, said that she had prepared gifts for her children and booked a fake Father Christmas to surprise them. She also shared the service with her neighbour to save costs. "In previous years, I used to put Christmas presents at the bottom of my children’s bed, but this year, I decided to hire a fake Santa Claus who will come to my house to give the gifts to them. The fees are quite cheap at just VND100,000," Tam said. According to Huyen Anh, a Christmas service provider, the maximum fees are often on Christmas Day itself at around VND150,000, while in the run-up to Christmas the price is just VND70,000-80,000. These fees are applied to the maxim distance of 5km and customers have to pay more for longer routes. … [Read more...] about Hired Santa Claus services make big money in Hanoi