Nguyen Quang Thieu, poet My father died of lung cancer in 2008. In his twilight years, he was confined to a cushioned chair, as he could not breathe while lying on a bed. Since he was living in the countryside, my siblings and I could only take care of him during the weekends, as we all had jobs in faraway places. During the time that I spent with him, I started to notice more carefully the behavior of our family dog, Lu, who my Dad had raised since he was young. Lu often walked outside the porch or around the neighborhood during the day. But ever since my Dad became bedridden, he stayed with him the whole time, lying next to his chair. I think Lu hasn’t slept at all during that time. Dad’s terminal cancer forced him to take painkillers once every two or three hours. Every time he moaned in pain or wanted to get up, Lu immediately stood up and sat by his side. I often timed my phone alarm to wake my Dad up once every 1.5 hours to help him take his medications … [Read more...] about Why our dog was a close family member
Why want job
Why data localisation might become a big investment story
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Viet Nam News Brian Spence* In mid-June, Việt Nam’s National Assembly approved the Law on Cybersecurity by an overwhelming almost 87 per cent majority, a move that has sparked a great deal of debate over how technology giants such as Facebook and Google will cooperate with the government in its policing of the web. These complexities are perhaps more a topic for political commentators. What interests me – and what should interest all savvy investors – is Article 26 of the new law. This stipulates that from the start of 2019, firms, whether domestic or foreign, that collect, analyse and commercialise Vietnamese users’ information will have to store that data on local servers. It will also force foreign technology firms to establish representative offices in Việt Nam if they want to continue doing digital business here. A not-to-be-missed market Southeast Asia is one of Facebook’s fastest-growing regions and Việt Nam, with its … [Read more...] about Why data localisation might become a big investment story
Do we want to reverse or advance our brain drain?
Trương Nguyện Thành. — Photo Hoa Sen University A professor at Hoa Sen University in HCM City who shot to fame when he taught a class on innovation wearing a pair of shorts has come up short at the hand of some bureaucrats’ rigid interpretation of regulations. The professor, also famous for encouraging students to think outside the box, was chosen to fill the vacant position of the university’s chancellor by its board of directors, but the municipal education department vetoed the move, citing a “lack of experience”. Dr. Trương Nguyện Thành has since decided to part ways with the university, returning to a position he held earlier in a prestigious school in the United States. The relevant rule being cited from the Law on Higher Education says that a candidate must hold a doctoral degree and have at least five years of experience in a management position, either as faculty dean or the head of a … [Read more...] about Do we want to reverse or advance our brain drain?
With bigger paycheck in sight, millennials lead job hopping trend in Vietnam
Since starting her first job as a copywriter in communications agency Youth Media nearly three years ago, Bui Quynh Trang has switched jobs three times. She has been working as a freelance videographer for about eight months now. Her stint at her previous employer lasted only nine months. The 24-year-old was with her first job for more than a year, before she decided to quit with no alternative lined up. “I was bored with the old jobs. One gave me a low wage, and the other took too many of my hours a day, from 8 a.m. until 7 p.m.,” Trang said. As the Vietnamese economy is expanding fast, switching jobs for better conditions has become more and more common, with the trend being led by millennials. According to a survey conducted on more than 3,000 Vietnamese born between 1980-1996 by recruitment firm Navigos Group last August, over two- thirds of respondents said they were considering switching to a new job, while 70 percent said they stay with any given company for no more … [Read more...] about With bigger paycheck in sight, millennials lead job hopping trend in Vietnam
IBM wants to take tech leadership in ASEAN
The digital transformation is creating breakthrough achie-vements thanks to cutting-edge technologies like artificial intelligence and blockchain. Do you have any predictions about how these technologies will impact Vietnam? Patricia Yim You know, there is a fear that one day, machines will replace human beings. But, IBM believes that the purpose of artificial intelligence (AI) is to augment human intelligence and not take over people. AI systems such as Watson help because they can understand, reason, and learn from vast amounts of data - including data such as videos, images and blog posts which are not typically “read” by traditional computer systems. It is the job of the human being to use the insights from AI to make better decisions. If we look at the AI platform Watson for Oncology, which we teamed up with Vietnamese company Five9 to launch last December, it acts on a cognitive computing system to help oncologists in Vietnam identify evidence-based cancer … [Read more...] about IBM wants to take tech leadership in ASEAN
Tourism boosts jobs in Danang
The tourism sector has generated over 140.000 jobs in the central city of Danang according to local officials. Truong Quang Nghia, the party secretary of Danang City, held a review meeting with the Department of Tourism about the sector's operation in 2017 and new goals for 2018 on March 7. Chairman of Danang Tourism Associations Huynh Tan Vinh said that the city had experienced extraordinary development since 2008 when the city received 1.2 million visitors. In 2017, it received 6.6 million visitors and earned nearly VND20trn (USD878.75m). Over 2.3 million international and 4.3 million domestic tourists visited Danang last year, an increase of 39% and 11.2% compared to 2016. Chairman of Danang Tourism Associations Huynh Tan Vinh speaks at the meeting on March 7 Tourism generated over 140,000 jobs last year, accounting for 25% of the total jobs. Danang has set goals to welcome 2.7 million international and 4.77 million tourists in 2018, earning VND22.50trn (USD988.59m) from … [Read more...] about Tourism boosts jobs in Danang
Transfer pricing claimed to partly cause FIE losses
Mong Binh - The Saigon Times Daily “Our statistics showed over 60% of the FIEs in the city posted losses last year,” Huong said in response to a question about the reasons why many FIEs have been making for years while Vietnamese firms of same sizes have been profitable at home and abroad. The global economic downturn, Huong said, made life tougher for businesses in Vietnam in 2009, leading many of them to fall into the red. The Vietnamese Government took action by providing businesses with tax breaks and deferral to help them out of tough times. But some multinationals are believed to take advantage of transfer pricing as an illegitimate and immoral means to shift their revenues and profits to the markets where taxes are lower than in Vietnam. Huong claimed a number of FIEs imported machines and materials from the parent company at high prices but sold the finished products they produced in Vietnam at prices lower than normal market levels. “So their losses are … [Read more...] about Transfer pricing claimed to partly cause FIE losses
BUSINESS IN BRIEF 12/12
Vietnam, Cambodia to develop cashew farming areaThe Vietnam Cashew Association (VINACAS) is working with the Cambodian Ministry of Agriculture, Forestry and Fisheries to establish a cashew farming area in Cambodia that is able to produce 1 million tonnes of material cashew annually.VINACAS President Nguyen Duc Thanh unveiled the information at the association’s seminar in HCM City on December 7 to seek ways to support foreign trade of cashew between 2018 and 2019.Addressing the event, Thanh said Vietnam has remained the world’s largest exporter of cashew and seen a robust growth of the cashew processing industry in recent years. However, the domestic supplies of cashew nuts have only satisfied about 20-35 percent of the firms’ demand for materials while imports of cashew face risks from quality control and payment, he noted.Cambodia is able to produce high-quality cashew nuts thanks to good varieties and favourable weather conditions, Thanh stated, adding that … [Read more...] about BUSINESS IN BRIEF 12/12
Back to home market
Back to home marketHong Ngoc By Hong Ngoc - The Saigon Times Daily HCMC – Vietnam has emerged as one of the world’s biggest wood products exporters with an annual value of over US$4 billion but exporting firms have yet to fully tap the local market. A majority of local wood products in the domestic market are supplied by small woodworking mills while the remainder are imported. According to the Asian Development Bank (ADB), with the current economic growth of 6-8%, local demands for wood mark up from 6% to 11% per year. Meanwhile, many experts said the domestic woodworking market grows by 10-15% annually. Conceding home market to foreign products In a preliminary evaluation of the Vietnam Timber and Forest Products Association (Vifores), the local woodworking market has total value of less than US$1 billion but it is being dominated by imported products. The association noticed the overwhelming presence of wooden products imported from China, Malaysia and Taiwan. A number … [Read more...] about Back to home market
218 shows Việt Nam’s got talent
A young man’s passion and resolve inspires a team of dancers to put on a show that dazzles judges and audiences while lighting up the Asia Got Talent stage in Singapore, An Vũ reports. All he wanted to do was dance. It is not often that an IT engineer gives up his vocation to pursue a passion for dancing, but not even his parents’ strong disapproval could deter Nguyễn Chấn Tín. Soon after getting his degree in Information Technology, the young graduate joined the Vocational Ballet School of HCM City (VBSH). And a year before he graduated from the VBSH, he founded a dance troupe called 218 (after the date of its founding, 21 August 2012), bringing together a group of young people who shared his passion. Tín, however, had not let go of his technological know-how. He and his troupe saw a way to combine both to good effect. In fact the effect was so good that the largest continent in the world took notice. For the first time in three years of … [Read more...] about 218 shows Việt Nam’s got talent