Viet Nam News by Nguyễn Khánh Chi A recent lunch date with my old friends from university turned into a stirring round-table discussion when one friend proposed that we all make a plan to travel together. As we envisioned a change of pace, time together and the chance to explore, everyone seemed excited—but one woman looked a bit concerned. “Does that mean we leave our kids and husband at home?” she asked in a low voice. “Yes!” “Yep!” “Why not?” the others jumped in. Vietnamese traditional family values dating back to the feudal period stipulate that housework is women’s responsibility. This view is a double-edged sword. On the one hand, it leads to celebrations of Vietnamese women’s dedication and hard work for their families. On the other, it punishes Vietnamese women who dare to assert some purpose or passion in life outside of their home. The persistence of this view makes it hard for many women to … [Read more...] about Women take a break from family for travel: Why not?
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Competition a good thing for Vietnam life insurance industryThe Saigon Times Daily: Do you think now is the right time for Great Eastern to enter the life insurance market in Vietnam?The global crisis that we are facing now is an unfortunate situation that will pass by us over time, especially with all the efforts by the relevant authorities to rescue the economy. In the first nine months of 2008, we had seen a decrease of nearly 9% in the number of new business policies as compared to the same period last year. But that is still a whopping 401,000 new business policies being created.It means you are still upbeat about the future perspective of theVietnamese market? - Looking at the numbers, we can see that as the general wealth and affluence of the society grows, the need for insurance will increase as well. It means people’s understanding and awareness of life insurance is increasing. In addition, the recent experiences of the stock and property market in Vietnam have also … [Read more...] about Competition a good thing for Vietnam life insurance industry
A tour of the top of Ba Na Mountain in the central coast city of Danang is never complete without a walk around the Linh Ung-Ba Na Pagoda. This is one of the three Linh Ung pagodas in Danang with the other two being Linh Ung-Bai But on Son Tra Peninsula and Linh Ung-Non Nuoc on Marble Mountains. Linh Ung-Ba Na is the highest pagoda among the three as it is located at around 1,500 meters above sea level. The pagoda is part of the Ba Na Hills ecological resort complex on top of Ba Na Mountain. It is a real challenge to walk up a very steep road to the pagoda from the Gare De Bay transit terminal where visitors take a cable car ride to the top of the mountain after going halfway to the peak. Don’t worry about that as vans are available for those who are not ready for a workout. The pagoda is an excellent place where visitors can take a good look at the French-style mansion of the Gare De Bay terminal nestled in the jungle and looking just like a European castle as described in … [Read more...] about A pagoda on top of Ba Na Mountain
Vietnam's Minisitry of Finance is looking to raise value added tax (VAT) from the current base level of 10 percent to 12 percent, starting from 2019. If the proposal is approved, Vietnam will have the second highest VAT rate in Southeast Asia, only after the Philippines, where goods and services are levied at 18 percent. The proposed 2-percent tax hike has triggered a heated debate among economists, policymakers and businesses. The ministry insists that raising indirect taxes (such as VAT) is essential and an international norm. “It is the global trend that can be seen in many developed nations such as the United States and European countries,” said a ministry official. The added tax will make up for when Vietnam fulfils its commitment to cut import tariffs under free trade agreements, and help tackle rising public debt, according to authorities. The World Bank has forecast that Vietnam’s public debt will climb to 64.4 percent in 2017 and 64.7 percent in … [Read more...] about Is it a good time for Vietnam to raise value added tax?
>> Fears of inflation stirred by latest petrol price hike>> Government approves power price hike of 15.28%The Ministry of Finance plans to scrutinise price hikes of seven staples beginning mid-April so to prevent possible price gouging. Powered prices on the rise The goods to be reviewed include construction steel, liquefied petroleum gas (LPG), powered milk, sugar, animal feed, cement and chemical fertiliser.As many as 24 large firms working in those fields will be under scrutiny. The ministry will also take into account the impacts of higher electricity and petrol prices, as well as the changing currency rates.Last year, a similar “check-up” was carried out by the ministry on 32 companies.After the increases in prices of electricity and petroleum, prices of a wide range of goods have gone.up.Nguyen Tien Nghi, Vice Chairman of the Vietnam Steel Association (VSA) said the recent petroleum price hike … [Read more...] about Government taking a close look at price hikes
HA NOI (Biz Hub) — Foreign investors should take account of buying a property in Viet Nam at this time as the market is offering great opportunities, according to the UK-based Financial Times newspaper. In July 2015, new laws opened up the Vietnamese property market to expats. Any foreigner with a valid visa, whether resident or tourist, can now buy property on a 50-year leasehold, with options for extension, the newspaper said. In 2008, when high-end property prices were at their peak, house prices recorded 110 percent year-on-year growth. But with the global financial crisis, the bubble burst. The ensuing years were in a frozen situation. Recovery came in late 2014 thanks to a growing middle class, rising wages, and rapid urbanisation. Forecasts show that half of Viet Nam's population will live in cities by 2025. Cranes are once again rising across Ho Chi Minh City's skyline, bringing about residential buildings for workers, according to the newspaper.Demand is stronger than at … [Read more...] about UK newspaper considers now a good time to buy property in Viet Nam
During the first half of the year, the economy lagged, in part due to widespread drought and declining agricultural output (which in turn further constrained rural consumption ). However, these supply-side disruptions have eased over the last few months, with production conditions normalising. Third quarter growth bounced back, although it will be a challenge to meet the government's full-year growth target of around 6.7 per cent.Manufacturing and exports continue to be the twin bright spots of the economy. The September PMI report points to further improvements in the manufacturing sector. Both internal and external demand accelerated during the month, as did output and employment. In fact, employment rose at the fastest pace in over five years. This, and the fact that firms are continuing to build inventory, suggests that manufacturers remain optimistic.The external sector also remains resilient. Exports rose by 9 per cent year-on-year in September, once again outpacing … [Read more...] about Viet Nam’s economy takes a good shape
Rice wine and beer have become an indispensable part of Tet. And drink driving, particularly among younger members of society, is a regular occurrence, all too often with tragic consequences. This is why this year the district authorities in central Quang Nam Province decided to take action. Instead of relying on motorbike drivers to behave responsibly and abide by the law, they called on residents to hand over their motorbike key to their village elders ahead of the Lunar New Year. Villagers were told that if they needed their bikes in an emergency, they had to ask their village headmen for the key, which would be returned to them if they demonstrated they could drive their bike safely. Elder members of society are held in such high regard that it was reported by one local People's Committee that this year every villager who owned a motorbike in the district obeyed the request. And those who were deemed unfit to ride their bikes accepted … [Read more...] about The key to a good time
A man who has been in lots of trouble in his life is now doing good things. Phan Trong Luong is protecting a beautiful, wild place with forests and a lake. He is also protecting many birds. Luong is also making sure that people who are not allowed to hunt there do not do so. Gangsta's paradise: Luong catches fish on his pond, with his forest in the background. - VNA/VNS Photo by Quang Vinh People call Phan Trong Luong, 40, a "Big Brother" and it's true: he does rule the roost over his 100ha of chestnut forests and 800ha reservoir, and he has been in jail for beating up poachers and gambling. But Dong Thanh Commune chief Ho Van Phung has nothing but praise for the ebullient Luong who, he said, had done a great job in protecting the wildlife in this idyllic haven of the central province of Nghe An. On a recent visit to Luong's lake we took a motorboat ride across Ve Rung Dam, where a … [Read more...] about Gangster becomes a good man
Nearly 2,000 CEOs will attend the CEO Summit in the city. Vice chairman of the city’s Small and Medium-sized Enterprises Association (DANASME), Nguyen Van Ly, told Viet Nam News that this would represent a rare opportunity for local firms to show off their capacity.The city has 21,000 businesses, of which 98 per cent are SMEs and super-small businesses with registered capital of VND90 trillion (US$3.9 billion). They contribute 43 per cent to the city’s Gross Regional Domestic Product (GRDP), and employ 60 per cent of the city’s labour force. Eighty per cent of the city businesses operate in trade, service, hospitality, tourism property and retails, making international connections especially important.Da Nang has been a leader in Provincial Competitiveness Index (PCI) for the past decade. It has 408 domestic projects worth $4.5 billion, and 525 foreign direct investment (FDI) projects worth $3 billion.Tourism real estate remains an investment magnet in this central … [Read more...] about APEC ‘a golden chance’ for Da Nang firms