SBV allays concerns over brief deposit rate hikes

The SBV’s headquarters in Hà Nội — VNA/ VNS Photo Đoàn Tùng

The fluctuations in deposit rates at the beginning of this month were an anomaly and things have returned to normal now, says Deputy Prime Minister Vương Đình Huệ.

However, he said, there must be stricter regulations and controls to ensure that the situation does not recur.

During the “turbulent” period, several commercial banks had issued deposit certificates with annual interest rates from 8.2 to 9.2 per cent for long term deposits and 5.4 to 6.9 per cent for short-term ones in order to attract more capital.

This was a significant increase from the previous average rates of 6.5 to 6.8 per cent in late 2016. 

Banks started offering high rates for long-term deposits (for more than a year) because the central bank was looking askance at the use of short-term deposit funds to grant medium to long term loans.

This triggered some anxiety about a shortage of cash and ensuing high borrowing costs.

The central bank allayed such concerns.

 “This phenomenon was localised and has been quickly stabilised,” said Lê Minh Hưng, Governor of the SBV.

The governor also asserted that during the first quarter of 2017, especially during the period that deposit rates spiked, there were domestic and international pressures.

One was the Federal Reserve’s second increase of prime rate on the US dollar in the past three years.

In the first three months of 2017, the SBV was following world market trends and actively adjusting the banking system’s liquidity to ease pressure on interest and exchange rates.

These timely actions helped keep the exchange rate between the US dollar and domestic currency stable.

Hưng said that on the whole, commercial interest rates and SBV’s rates would not undergo any significant change and in the coming time, the central bank would keep a close watch on the market situation to ensure interest rate stability and help businesses access the credit they need to develop.

In the first quarter of 2017, money supply into the economy has increased to satisfy the market demand for capital at a reasonable rate and volume, according to the state bank governor.

At the same time, credit flows have increased since January 2017, and core inflation has been stable, showing that current fiscal policies were headed in the right direction.

However, Huệ also reminded the SBV to push public investment and increase the efficiency of policy implementation.

The bank must find a solution to keep the impact of global developments on domestic rates to a minimum, he said.

A legal framework to control inflation and other economic tools should also be deployed to ensure a safe and efficient banking system, Huệ said.

Read more at http://vietnamnews.vn/economy/373890/sbv-allays-concerns-over-brief-deposit-rate-hikes.html#2O6z4TqFtu2GivzW.99

VN announces new helmet requirements

Fake helmets are found at Duyên Lành Production Trading and Service Co Ltd Company in HCM City. — VNA/VNS Photo Mạnh Linh

Starting in July, makers and sellers of subpar quality helmets will be slapped with stiff penalties and subject to a new government resolution.

The change was discussed in a conference entitled “Capacity building for management of helmets’ quality and implementation of Resolution 87/2016,” held yesterday in HCM City.

The conference was hosted by the General Department of Standards, Metrology, and Quality, with the Việt Nam Standard and Consumers Association (Vinastas), as well as the National Committee on Traffic Safety under the National Assembly.

At the conference, helmet makers contested that the manufacturing of helmets’ foamed polymer liners is a complicated and tricky process that requires expensive machines, exceeding many small and medium-sized manufacturers’ limited financial means. Therefore, they request a mechanism for linkages between helmet manufacturers, so while these parts can be done at this factory, others can be done at another. There’s no need to demand a single manufacturer to meet all the requirements regarding machineries to be allowed to produce helmets, they argued.

Nón Sơn, a popular HCM City-based helmet maker, said there were still flaws in the regulation on handling fake helmets that need to be addressed. For example, the law states that only when the products have been finalised, or “took on the final shape of a helmet,” can authorities impose fines on makers should violations occur. Nguyễn Ngọc Tý, Nón Sơn’s CEO, said that provision ‘tied authorities’ hands’ in cases where the product is in the process of being manufactured.

Khuất Việt Hùng, Executive Vice Chairman of the National Committee of Traffic Safety, said that this year’s information dissemination campaign would mainly target the younger population, with an information campaign planned for September.

Helmet quality testing would also be carried out by traffic police force, Hùng said. Specifically, noticing substandard helmets, policemen could stop the rider and use a ‘testing tool’ to strike at the helmet. Substandard helmets will be broken easily, and new certified standards-compliant helmets would be given to the owners of the broken helmets. Of course, the wearers would not be fined, he added. Certified helmets are provided for free by benefactors, however, in limited number.

According to rough estimates, around 40 per cent of helmets used by the public and sold on the markets do not meet standard requirements. Hùng said that in the north, the presence of substandard helmets might be even larger. For that reason, Hùng called on the public to report violations in manufacturing or selling helmets to the authorities or the media.

According to the HCM City branch of the National Committee on Traffic Safety, in 2016, faulty helmets have resulted in 677 deaths and 203 injuries, each of which could have been averted if helmet quality was satisfactory.

Read more at http://vietnamnews.vn/society/373926/vn-announces-new-helmet-requirements.html#r0vdMf6Bl66KLfoH.99

Asian, European educators talk innovation

The finale of the 2016 Robocon Việt Nam contest at a sports complex in Ninh Bình Province. — VNA/VNS Photo Ninh Đức Phương

Asian and European educators meeting in Việt Nam this week agreed that innovative education is the key to ensuring qualified human resources for the sake of countries’ sustainable development.


The conference in the one-time Vietnamese capital of Huế brought together delegates from Asian and European countries, including Finland, Japan, India, Korea and Indonesia, for four working sessions on March 30 and 31.


Delivering a speech at the opening of the ASEM (Asia-Europe Meetings) Conference yesterday, Vietnamese Deputy Prime Minister Vũ Đức Đam said education is the key for development of every society.


“The mission of the education sector becomes stronger in the context of a turbulent globe. Terrorism, trans-bordered criminals, new diseases, environmental disasters and climate change are challenging the young generation of global citizens,” Đam said.


He emphasised the crucial role of education in building up a generation that is responsible for their country’s destiny and international co-operation in coping with emerging issues.


Đam also highlighted the contribution of the Asia-Europe Meetings in shrinking the gap between the two continents.


Delegates agreed that international co-operation would help foster progress in innovative education as each country gets an opportunity to learn from others.


Prof Dr Aris Junaidi from Indonesian Ministry of Research, Technology and Higher Education said education is important for the country to stay competitive in the growing global economy, but practice of innovative education has yet to be effective. He thus highlighted the need of educational co-operation with other countries.


Deputy President of the Korean Educational Development Institute, Dr Bang-Ran Ryu, wanted the conference to be a means to foster exchanges and co-operation. “Innovation helps to alter the way we think in shifting our society from old to modern norms. ASEM countries’ co-operation will create a platform to assist those who want to follow tertiary educations abroad,” he said.


The Finnish model


During the first plenary session, Finland was noted as one of the world’s most successful models of innovative education.


According to Finnish Deputy Minister of Education and Culture Anita Lehikoinen, the country has succeeded in offering free education for all citizens and creating equality in education for both women and men.


Lehikoinen said the country also set up committees to boost the development of innovative education, prevent corruption in the sector as well as mobilise sources from various stakeholder for educational tasks.


“We offer flexible education programmes for meeting individual needs, and each student gets a chance to learn basic skills, soft skills and also essential skills in ICT to be competent citizens,” Lehikoinen said.


She added that the country’s education sector emphasised the effectiveness of education and research innovations. “Those must be good for our system but also proper for the global context,” she said.


The conference continues today with discussions of the vision and actions needed to enhance the co-operation between the two continents in the field.

Read more at http://vietnamnews.vn/society/373854/asian-european-educators-talk-innovation.html#6oFeyvAFDRTRZMmb.99

PM: Medicinal herbs are untapped potential

Traditional herb garden in the frontier township of Sa Pa on the northern mountain province Sơn La. — VNA/VNS Photo Đình Huệ

Due to a critical shortage of domestic supply, 80 per cent of all ingredients used in the production of Western and traditional drug production in the country are imported, said pharmacist Tạ Ngọc Dũng, Secretary General of the Việt Nam Medical Material Association.

The figure was presented Wednesday at a meeting between association heads and related agencies, chaired by Prime Minister Nguyễn Xuân Phúc. The meeting was held in preparation for a national conference in April on developing medicinal herbs, which will be chaired by the Prime Minister.

The current situation is unfortunate, given the country’s ancient medical traditions and potential, Dũng said. “The quality of medicinal materials are not good enough. We just exploit the natural medicinal plants without giving due regard to maintaining and developing rare herbs,” Dũng added.

Overexploitation and deforestation may lead to a permanent loss of rare species. Without preservation efforts, traditional medicine recipes either crafted or kept by traditional doctors who are now advanced in age have little chance of survival.

The association proposed that the Government issue a national programme on developing and protecting Vietnamese herb resources, which is expected to draw the participation of interested individuals and organisations, especially investment in large-scale and high-tech production.

Former Deputy Prime Minister Nguyễn Khánh said he has been thinking for 30 years how to combine the best of traditional Eastern medicine and Western medicine, but hasn’t been successful. “The Government must shoulder much of the blame, given its lack of proper guiding directions and policies,” Khánh added.

In addition, small-scale and scattered production without overarching planning hardly does the sector any favours in an increasingly demanding market, he said.

Out of 300 medicinal plants that have passed the World Health Organisation’s Good Agriculture and Collection Practices (GACP), Việt Nam only has 18.

Việt Nam is a tropical country, with vast areas of rainforest and delta land, which is already an abundant reserve of medicinal herbs, but the reality hasn’t lived up to its potential. “For example, recently, it surfaced in the media that a Vietnamese medicine, the Gold Star unguent, can easily fetch US$6 in foreign markets, but we sold it for $0.5. That’s very unfortunate,” PM Phúc said.

Concluding the meeting, PM Phúc said he placed high hopes on the coming national conference, expecting a vision and resolutions to boost “one of the country’s potential advantage.”

PM Phúc also stressed the importance of market demand, saying it was the driving force for herb development.

“Regarding institutional issues, the Ministry of Health will need to prepare drafts with specific policies that we will hear at the coming conference,” PM said.

The PM said he expected that soon, “herbs will become a valuable commodity of the country, which will cure people, provide good incomes and improve the quality of life.”

Read more at http://vietnamnews.vn/society/373856/pm-medicinal-herbs-are-untapped-potential.html#1gvCM5MGgqi2xjHC.99

VN protests Taiwan live-fire drill

Lê Thị Thu Hằng is now the spokesperson of the Ministry of Foreign Affairs, replacing the former Lê Hải Bình. — Photo vnexpress.vn

Việt Nam has protested against a live-fire military drill conducted this week by Taiwan in the Trường Sa archipelago, demanding that it refrain from repeating such activity, Foreign Ministry spokesman Lê Hải Bình said on Thursday.

Bình asked parties involved in the Trường Sa (Spratly) and Hoàng Sa (Paracel) archipelagoes to respect Việt Nam’s sovereignty in the area and act responsibly. 

He spoke to reporters in response to a query about Việt Nam’s reaction to reports that China is completing big military works on illegal man-made islands in Việt Nam’s Trường Sa archipelago. 

Vietnamese agencies are checking that information, Bình said, reiterating that Việt Nam has a full legal foundation and historical evidence to affirm its sovereignty over Trường Sa and Hoàng Sa. 

Việt Nam also resolutely protested against Taiwan (China)’s live-fire drill in waters around Ba Bình (Itu Aba) in Việt Nam’s Trường Sa archipelago, Bình said. Taiwan’s Coast Guard Administration held a live-fire exercise in Ba Bình waters from March 27-30.

Bình declared that the move “seriously violates Việt Nam’s sovereignty" over Trường Sa archipelago. “It also threatens peace, stability and maritime safety and security in the East Sea, while elevating tension and complicating the situation in the waters,” he added. 

Parties concerned need to respect Việt Nam’s sovereignty, act responsibly, and take no actions that complicate the situation and threaten peace in the East Sea (South China Sea), the spokesperson said.

Blogger’s US award

The US State Department’s honouring of a Vietnamese blogger in custody over legal breaches is neither objective nor suitable, and does not benefit the development of the two countries’ relations, the spokesman said.

The US State Department earlier on Wednesday awarded a Vietnamese national, Nguyễn Ngọc Như Quỳnh or blogger Mẹ Nấm, the International Women of Courage Award. 

“Việt Nam’s consistent policy is always protecting and promoting people’s fundamental rights, including women’s rights,” Bình said, adding that the country’s efforts and achievements in ensuring and improving human rights have been recognised and highly valued by the international community. 

Citizen protection abroad

Việt Nam strongly condemned the inhumane killing of a nine-year-old Vietnamese girl in Japan, the foreign ministry spokesman said, conveying deepest condolences to her family.

The Foreign Ministry directed the Vietnamese embassy in Japan to work closely with local authorities in efforts to shed light on the death, expressing confidence that Japan would find the culprit.

Regarding the death of a Vietnamese national in a detention centre in Japan, Bình said the Vietnamese embassy in Japan is working with Japanese agencies on the case, but no information has been revealed so far. 

About legal protection for Đoàn Thị Hương, a suspect in the death of Democratic People’s Republic of Korean citizen Kim Chol in Malaysia, Bình assured reporters that two Malaysian defence lawyers for Hương are highly capable and more information will be provided at a suitable time. 

Regarding the arrest of 43 Vietnamese fishermen and three vessels in the Solomon Islands, Bình said the Vietnamese embassy in Australia and Solomon is working with authorities to verify the information and will take appropriate citizen protection measures.

New spokesperson

Thursday’s press briefing also marked the last one by Lê Hải Bình, who is being replaced by Lê Thị Thu Hằng as the new foreign ministry spokesperson. 

Incoming spokesperson Hằng said she hopes the press will continue working with the Foreign Ministry in updating the world  about Việt Nam. She affirmed that she is open to the media’s opinions so as to serve the country as well as possible. 

Hằng worked in the Press and Information Department for nearly two decades before serving as Minister Counsellor at the Vietnamese Embassy in the UK from 2012 to 2015. 

After finishing her tenure in the UK, Hằng was chosen to be acting director and then director of the information and culture department under the ministry’s State Commission for Overseas Vietnamese Affairs.

Read more at http://vietnamnews.vn/politics-laws/373871/vn-protests-taiwan-live-fire-drill.html#hbyqmuCO81ShybXP.99

Bình Thuận temporarily bans mollusc and bivalve exploitation

Bình Thuận has issued a temporary ban on the exploitation of molluscs and bivalves across its sea waters. — Photo thuysanvietnam.com.vn

The southern central province of Bình Thuận has issued a temporary ban on the exploitation of molluscs and bivalves across its sea waters as part of an effort to protect and regenerate dwindling marine resources.


The ban will take effect from April 1 to July 31, restricting fishermen and organisations from gathering molluscs and bivalves, the local seafood specialties that include scallops and clams.

The provincial Department of Agriculture and Rural Development has assigned its Fisheries Division to coordinate with agriculture and economic agencies in coastal districts and towns to inform local fishermen, ship owners and seafood traders of the ban.
The agriculture sector, border-guard stations and People’s Committees at coastal districts and communes have been asked to strictly inspect and punish any violations.
Bình Thuận is known as one of the biggest fishing grounds in the country. It is home to special kinds of sea bivalves and mollusks that fetch high prices.

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In order to protect the resources of molluscs and bivalves, restrictions have been imposed every year since 2000 during the reproductive season.

To effectively manage the exploitation of aquatic products and to enhance the reproduction of aquatic resources, especially scallops, the province has implemented two projects on building a community management model for protection and regeneration, as well as improving the efficiency of using marine resources in the coastal areas of Tuy Phong and Hàm Thuận Nam districts.

Read more at http://vietnamnews.vn/environment/373773/binh-thuan-temporarily-bans-mollusc-and-bivalve-exploitation.html#ty6WAWXty8lMZ8YC.99

Hà Nội pilots iParking for cars from May

Drivers can use smartphones or tablets to find parking slots on Trần Hưng Đạo and Lý Thường Kiệt Streets in Hà Nội from May. — Photo news.zing.vn

The Hà Nội People’s Committee has approved a pilot programme that will use software and automation technology to manage public parking zones on two streets in Hoàn Kiếm District.

The iParking technology to manage car parking will be piloted on Lý Thường Kiệt and Trần Hưng Đạo streets from May 1 to August 1, the committee said.

The plan, developed and implemented by the Hà Nội Car Park Exploitation Company, involves the digital mapping of car parking areas, the use of management software, and the installation of cameras to record vehicle registration plates in parking zones.

All information relating to car parks will be available online, and car owners will be able to find and book parking spaces in advance on devices such as smartphones and tablets.

The smart technology behind the system will also make it possible for vehicle owners to park their cars without help from parking staff.

The project is part of the ongoing efforts to improve urban traffic management by monitoring the number of vehicles using parking lots and ensuring transparency in collecting parking fees, the committee said.

Under the project, surveillance cameras will be installed at parking lots, recording the number of vehicles, their parking duration and the number of parking slots available. The information will be relayed to a data processing centre.

A sensor device will be attached to camera poles to read electronic parking cards and record vehicles’ information, such as licence number, vehicle type, time-in and time-out. Parking fees will be calculated based on parking duration, which vehicle owners can pay in cash or via bank transfer.

During the trial process, the technology provider, CIS Investment Joint Stock Company, will supply the iParking software free of charge.

The Hà Nội Car Parking Exploitation Company will work with CIS to develop the plan extensively and will be in charge of the whole process, from guiding drivers to find parking areas to collecting parking fees and supervising the implementation of the plan.

Currently, Hà Nội City has around 1,100 parking lots, 200 of which are on roads and employ staff to watch vehicles and collect fees.

Read more at http://vietnamnews.vn/society/373668/ha-noi-pilots-iparking-for-cars-from-may.html#VyL2oududJu1b2x2.99

Changes needed to ensure sustainable agriculture

Harvesting rice in Vị Thuỷ District’s Thanh Thuỷ Commune in the southern province of Hậu Giang. Việt Nam’s agriculture has experienced slower growth in recent years, necessitating institutional changes to ensure a sustainable growth in the future. — VNA/VNS Photo Duy Khương

The slow growth of the agricultural sector starting in 2015, shortcomings of small-scale production, poor quality and productivity amid fiercer global competition are threatening the sustainability of farming in Việt Nam and demanding institutional and mechanism changes.

These concerns were shared among participants of the Việt Nam Spring Agriculture Forum held yesterday in Hà Nội by the Việt Nam Agriculture Coalition and Việt Nam Agricultural Policy Forum (VAPF), with support from Oxfam.

Participants delivered lively, sometimes contradicting, arguments, but all with the goal of helping to fully realise the country’s agriculture potentials by removing institutional barriers, either formal ones like policies and laws, or informal ones like practices and habits.

Andrew Wells-Dang, senior governance advisor at Oxfam in Việt Nam, lauded the change in Government thinking that shifted from regarding agriculture as “backwards” or providing jobs for “the poor who have no other way of earning a livelihood”, to currently positing agriculture as a “strategic priority” and a competitive advantage for the country.

However, he also expressed concern over the excessive industrialisation of agriculture, which was typified by thinking that "bigger is better" and everything can be solved by more chemicals and machinery.This thinking, popular amongst multinationals and their supporters, might deprive smallholders of the rights to their own land, in addition to creating long-lasting environmental problems, Wells-Dang worried.

Lê Đức Thịnh, deputy director of the Economic Co-operation and Rural Development, under the Ministry of Agriculture and Rural Development (MARD), gave an overview of the Vietnamese Government’s efforts to improve agriculture. In contrast to the pre-80s collective production model, the Government shifted its focus to individual farming households, rearranging agricultural management authorities by sector and regions, and attempted to deepen international integration. One of the most positive changes, he said, was that the Government started prioritising quality of produce over maximising output, which was evident by the development of quality standards and sets of good practices.

Nevertheless, Thịnh also pointed out numerous institutional flaws that hindered the development of agriculture, the most offensive being what he called “a wrong attitude” towards agricultural land. Currently, “agricultural land is priced at just one-tenth of market price, and farmer owners of these lands are unable to capitalise on their sole property, "losing" hundreds of billion đồng”, he claimed. He also lamented the State’s deep intervention in the sector, via administrative orders, instead of playing the role of a supporter.

Other participants at the forum spoke of a lack of proper agriculture associations, as well as lackadaisical performance by local governments that fail to make their people’s voices heard at central and policy-making levels and instead just follow orders from the higher-ups.

Dr Nguyễn Thị Hồng Minh, former chairwoman of the Việt Nam Association of Seafood Exporters and Producers (VASEP), questioned whether lifting land ownership would miraculously boost agriculture. Minh also holds the position that when consumption of produce is ensured, farmers will follow set guidelines, citing the production of clean vegetables in Sóc Sơn District of Hà Nội, where farmers don’t use chemical fertiliser and pesticides.

Aside from institutional issues, Dr Võ Tòng Xuân, Rector of Cần Thơ University in southern Việt Nam, also known in the country as Dr Rice, said “farmers themselves are to blame for their poverty with their unreconstructed small-scale agriculture mind-set”.

“They are generally not well-educated, and resistant to change. I’ve heard cases where young scientists came to the countryside to offer training, but farmers displayed a dismissive attitude towards them, doubting that these youngsters could teach them work that they had been doing for generations,” Xuân said.

Dr Lê Xuân Nghĩa maintains an opposite perspective, saying Vietnamese agriculture can remain in the hands of small holders. He argued that the countryside has “everything”, from rich tradition, culinary delights and heritage that can be turned into good sustainable tourism products.

Dr Lê Đăng Doanh, an economic expert, contended that land accumulation must take people’s rights to properties into account. According to him, in Taiwan, farmers – contributors of land towards mass production – can become stakeholders in the business and Việt Nam could offer the same incentive.

Read more at http://vietnamnews.vn/society/373716/changes-needed-to-ensure-sustainable-agriculture.html#WhvmtQxXrGBYqEXH.99

VN to host talks on education

Việt Nam will host the ASEM (Asia-Europe Meeting) Conference on Innovative Education and Human Resource Building this week in Huế City. — Photo baodautu.vn

Việt Nam will host the ASEM (Asia-Europe Meeting) Conference on Innovative Education and Human Resource Building this week in Huế City, said Trần Ngọc An, head of the Foreign Ministry’s Multilateral Economic Deparment.

The conference will provide a platform for ASEM partners to present best practices in promoting quality and innovative education for human resource development. it will also consolidate proposals for ASEM’s new Vision for Education, including ASEM’s new skills agenda, and concrete measures to equip the young generation with 21st-century skills and qualities needed to achieve an adaptable and professional workforce in the era of the 4th Industrial Revolution, An said.

The two-day meeting will enhance collaboration among policy-makers, government officials, businesses, youths and other stakeholders in Asia and Europe to support the integration of 21st cntury skills into the existing eduction system.

The conference aims at promoting regional and inter-regional co-operation on best pratices and experiences among ASEM members and relevant institutions in quality and innovative education and human resource development, especially in ICT application, transnational education, technical vocational education and training, and creative talents.

The outcomes of the event will be reflected in a summary report, which will be presented at the 6th ASEM Education Ministers Meeting in Seoul this May, the 13th ASEM Foreign Ministers Meeting in Myanmar this November, and the 12th ASEM Summit in Belgium next year.

This year’s conference is expected to draw approximately 200 participants, including Government officials, senior policy-makers, researchers, educators, practitioners, universities, businesses, related regional and international organisations, and other stakeholders.

The conference was initiated by Vietnamese Prime Minister Nguyễn Xuân Phúc at the 11th ASEM Summit held in 2016 in Mongolia under the sponsorship of Finland, India, Indonesia, Japan and Korea, said An.

Việt Nam’s role as a founding member and active player in the organisation is highly appreciated, said An. In the 20 years since joining the institution, Việt Nam had contributed more than 20 initiatives.

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PM urges Quảng Nam to attract long-term investors

Cửa Đại Beach in Hội An City is a favourite destination for tourists. — VNS Photo Công Thành

Organic farming, hi-tech agriculture, tourism and services – these are the key growth areas for Quảng Nam Province, Prime Minister Nguyễn Xuân Phúc said yesterday.

He said the central province use its two world heritage sites – Hội An City and Mỹ Sơn Sanctuary, as well as other attractions like a 124km long coastline and the world biosphere site Chàm Island, to build itself as an international recreational and tourism centre.

The PM was addressing a conference held in Tam Kỳ City, Quảng Nam, on investment in the central province. The conference was attended by more than 1,000 participants including investors and  representatives from financial institutions.

Phúc said Quảng Nam has great potential in terms of its natural resources, human resources and connectivity (airport, seaport, roads, railways and the national Expressway systems).

He said the province has to make a plan for the next 20 years for hosting a large number investors and tourists. It should have a transparent legal framework and a strong commitment to ensuring favourable conditions for foreign investors.

“The key for opening the door to success in the province is raising the quality of human resources, boosting creativity among the community and developing flexible mechanisms and policies to support investors and businesses,” Phúc said.

He felt the province should be more prominent on the world tourism map. International standard recreational and sports events are yet to be organised in the province, he said.

Phúc also urged the province boost connections between key economic zones in neighbouring provinces of Quảng Ngãi and Đà Nẵng so that a complex of key industry and service centres is established in the coastal central region.

He reminded listeners that Hội An was once a busy trading port in Asia 300 years ago, and the province could reclaim a similar reputation in the coming decades.

He emphasised that the province must guarantee full conditions and demand prolonged investment from foreign investors in the future.

He hoped that Quảng Nam would become a powerhouse in economic development.    

Also at the conference, the province presented investment licences to 32 projects with a total registered capital of US$15.8 billion.

Six commercial banks in Việt Nam also agreed to provide loans worth VNĐ26 trillion ($1.1 billion) to 10 projects in the central province.

The province officially launched yesterday its first “one-stop shop” for all administrative and investment procedures.

Major investment projects

Thus far, Quảng Nam has attracted 135 foreign direct investment (FDI) projects with a registered capital of nearly $5.5 billion, the conference heard.

It also heard that the Vinpearl Jsc has started construction of the Vinpearl Quảng Nam Resort Complex on 179ha in Thăng Bình District with a total investment of VNĐ4.8 trillion ($212 million).

The Trường Hải Company, in co-operation with Japanese car producer Mazda, has started construction of the second Mazda plant in the province with total investment of VNĐ12 trillion ($520 million).

The second Mazda plant will produce 100,000 cars for both domestic and export markets.

The local car maker and its partners have invested $6 billion in the Trường Hải-Chu Lai Industrial Complex since 2003.

 

Many investors took part in the conference held yesterday in Quảng Nam Province. VNS Photo Công Thành

Two automobile makers – Hyundai Motors of Korea and France’s Peugeot – have agreed to co-operate with Thaco to make minibuses and commercial car models, Đỗ Xuân Diện, head of the Chu Lai Open Economic Zone, told Việt Nam News yesterday.

The project will straddle the two coastal communes of Bình Dương and Bình Minh, and its first phase should begin operations in the third quarter of 2018, he said.

Last year, the province commenced work on two major projects – the $4 billion Nam Hội An Integrated Resort, invested by VinaCapital and Gold Yield Enterprises Corporations, and a $535.3 million expansion of the Trường Hải-Chu Lai Mechanical Automobile Industrial Zone.

The Chu Lai Open Economic Zone, which opened in 2003, has so far attracted a total of 109 projects, 29 of which are foreign invested, with a combined registered capital of more than $1.52 billion. Sixty-six projects worth more than $837 million are in operation, creating 12,000 jobs for locals.

The Việt Nam National Textile and Garment Group (Vinatex) is also planning to build a fibre-weaving and dyeing garment complex with a total investment of VNĐ1.5 trillion ($71 million) in the central province.

Thaco chairman Trần Bá Dương said his company alone has invested VNĐ28 trillion ($1.24 billion) to build a logistics centre, car production factories, a vocational training college, a sea port and storage system, as well as a shipping service in Quảng Nam.

Dương said the complex earned total revenues of $2 billion last year, contributing VNĐ13.8 trillion ($610 million) to the State budget and creating 8,000 jobs for locals.

Two Korean-invested companies – Panko Tam Thang and Duck San Vina –began work in 2015 on projects with a total investment of $80 million in Tam Kỳ City’s Tam Thang Industrial Zone (IZ).

Chairman of the provincial People’s Committee Đinh Văn Thu, said 91 textile and garment companies, operating in the province, produced products worth VNĐ2.9 trillion ($138 million) in 2015.

He said the province has called for more investment and co-operation from foreign partners in developing supporting industries.

The province has so far developed 19 industrial parks and complexes on a total area of 4,700ha.

It has invested VNĐ825 billion ($39 million) to dredge the Tam Hiệp and Kỳ Hà ports, providing access to 20,000 DWT cargo ships.

It has also launched the new Chu Lai-Incheon (South Korea) sea route.

Airport upgrade

The Chu Lai Airport in the province will be upgraded to handle 2.3 million passengers and 1.5 million tonnes of cargo by 2025.

Nguyễn Hồng Quảng, provincial Party Secretary, said the airport project will help make the province a key destination and logistics centre for foreign investors in the central region, and link the economic zones of Quảng Nam, Quảng Ngãi and Đà Nẵng.

He said budget carrier VietJetAir and US partner Parsons Brinckerhoff have proposed a master plan for upgrading the airport in three phases: from now until 2020, 2020-2025 and beyond 2025.

He said the first phase, implemented with VNĐ2.5 trillion ($111 million) from the provincial budget, will allow the airport to host two million passengers per year.  

He said a feasibility study of the project was carried out with funding from the US Trade and Development Agency (USTDA).

Chu Lai Airport, which was built as an airbase during the war in the 1960s, opened to commercial traffic in 2005.

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Liquidity remains strong: State Bank of VN

Transactions at the ABBank’s branch in the northern Thái Bình Province. Up to 90 per cent of deposits currently are short-term while demand for long and medium-term loans is growing rapidly. — VNA/VNS Photo Trần Việt

Liquidity of the banking system remains good and the interest rate level is stable with no pressure on rate hike reported.

The State Bank of Việt Nam (SBV) released the news on Monday in the wake of a recent deposit interest rate hike by some small-sized banks.

According to the SBV, while some banks have increased sharply long-term interest rates offered on certificates of deposit, some others have adjusted interest rate down by 10-30 percentage points per year.

Last week, VPBank announced it is offering a rate of 9.2 per cent per year for five-year certificates of deposit.

VietA Bank and Sacombank have also listed a high rate of 8.2 per cent per year for certificates of deposit.

However, during the week, VIB cut interest rate by 10-30 percentage points per year for all terms, making the rate for 1-2 month deposits stand at 5.1 per cent per year, for 3-5 month deposits at 5.2 per cent, for 6-11 month deposits at 5.6 per cent and for deposits above 12 months at 7.1 per cent.

The rate was also down by 20 percentage points for 18-36 month deposits at Maritime Bank and 10 percentage points at Bản Việt Bank and DongA Bank.

In the report released on Monday, SBV also said the adjustment of interest rate at some banks is normal to fit the banks’ business strategies, adding that some banks could increase interest rate temporarily at this time, but they could then adjust the rate lower next time.

Last week, some experts forecast that interest rate could rise after some banks issued certificates of deposit at high interest rates of up to 8.2-9.2 per cent per year.

The rate was much higher than the average deposit interest rates offered by other commercial banks. Currently, State-owned commercial banks offer a rate of 6.5-6.8 per cent per year for long-term deposits, while it is 7-7.5 per cent at large-sized joint stock commercial banks and 8-8.2 per cent at small-sized banks.

Experts said banks have been forced to hike interest rates on long-term deposits so that they have enough funds to provide long and medium-term loans.

According to statistics, 80-90 per cent of deposits currently are short-term while demand for long and medium-term loans is growing rapidly.

In addition, SBV’s amendments to Circular 36/2014/TT-NHNN reducing the ratio of short-term deposits that can be used for medium and long-term loans from the current 60 per cent to 40 per cent have caused deposit interest rates to rise.

Experts, so far, still say keeping the interest rate stable would be hard work for the central bank this year, especially since it has to meet two other targets of controlling inflation to below 4 per cent and providing support to attain economic growth at least 6.7 per cent this year.

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PM okays $4.4 billion package for high-tech agriculture

Prime Minister Nguyễn Xuân Phúc has signed a resolution providing a credit package worth VNĐ100 trillion (US$4.4 billion) to invest in the development of high-tech agriculture at lower than market rates. — Photo vneconomy.vn

Prime Minister Nguyễn Xuân Phúc has signed a resolution providing a credit package worth VNĐ100 trillion (US$4.4 billion) to invest in the development of high-tech agriculture at lower than market rates.

The resolution stipulates that commercial banks must cut operation costs so they can set interest rates for enterprises or individuals engaged in high-tech agriculture production at 0.5-1.5 per cent lower than the current commercial interest rates.

Addressing a conference in the capital city last week, Deputy Prime Minister Vương Đình Huệ said that “before implementing the credit package, the Government, concerned ministries and sectors have to define what is high-tech agriculture and its framework – including high-tech agriculture application, green agriculture and the technology which will be applied.”

He also pointed out the need to define “short term, mid term and long term credit packages” to be applied in this programme. “Should we use the short saving term for the mid- or long-term loan or not?” Huệ asked.

Regarding the loan framework, the deputy prime minister asked whether the credit should be disbursed according to development stages of high tech production, or not. He also asked whether individual household involved in high tech production should be included in the list of eligible borrowers, particularly big production households.

“What’s more important is that we only lend the money to the right people/households,” Huệ emphasised. He added that over the past few years, only roughly 20 enterprises involved in high-tech agriculture accessed creditat low interest rates.

Director General of Agribank, Tiết Văn Thành, and deputy director general of Vietcombank, Đinh Thị Thái, expressed support for the Government’s decision. Yet they asked for clear legal requirements on the part of borrowers, including required collaterals to avoid risks. “Low interest rate risks are very high,” lamented Thái.

In his conclusion, Deputy Prime Minister Vương Đinh Huệ emphasised the importance of credit packages for high-tech agriculture in the context of the slow growth of the country’s primary industry.

He said the Government had already worked out a legal corridor to implement the strategy on high-tech agricultural development.

He assigned the State Bank of Viêt Nam (SBV) to instruct all commercial banks to implement the credit package in accordance to the Government’s instructions. Huệ also asked the SBV to work closely with the MARD to periodically monitor the credit programme implementation.

To support banks involved in the program, Huệ ordered the Ministry of Finance to complete as soon as possible a Government decree on agriculture insurance.

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Missing 9-year-old Vietnamese girl in Japan found dead

Japanese police comb the area where the body of Lê Thị Nhật Linh was found. — Kyodo Photo

Japanese police have confirmed the death of a Vietnamese girl in Akibo, Chiba Prefecture, who was reported missing last Friday, according to Japanese media.


The nine-year-old girl was found dead in a grass field near a drainage ditch in Akio on Sunday, the local police said.


The naked body of Lê Thị Nhật Linh was found at around 6.45am by a man who had come to fish in the Tone River nearby. The site where her body was found is some 10-12km from the school.


Police said they are yet to determine the cause of death.


Earlier, Japanese media reported that Linh, a third grade elementary school student in Chiba Prefecture, went missing last Friday morning.


The news was confirmed after Linh’s teacher called her family to inform them the girl did not show up at school on Friday morning. The family then reported the matter to the local police.


The girl, who lived in the nearby city of Matsudo, was 130cm tall and wearing pink pants and a gray hooded jacket when she left home with a red school backpack, according to the local police.


Linh walked to school alone each day since it was located near her house.


The case is under investigation.vietnamnews.vn

Quảng Bình sells itself in Hà Nội

The central province of Quảng Bình and the capital city of Hà Nội co-organised a conference in Hà Nội on March 25 to promote tourism connectivity. — Photo laodongthudo.vn

The central province of Quảng Bình and the capital city of Hà Nội co-organised a conference in Hà Nội on March 25 to promote tourism connectivity. 

The event provided an opportunity for Quảng Bình to introduce its culture and strengths to draw more domestic and international visitors via Hà Nội, Vice chairman of the provincial People’s Committee Trần Tiến Dũng said. 

The conference also enabled firms to seek partners, he added, calling on businesses and investors to attract more visitors to Quảng Bình.  “Quảng Bình sees tourism as its spearhead economic sector,” Dũng said.

“The province will concentrate all resources to complete building infrastructure, diversify products and improve the quality of services so that it becomes a top attractive destination with tight linkage with other tourism centres in the country,” he said.

“In order to achieve that, Quảng Bình needs the cooperation and participation from businesses and investors, especially those from Hà nội and other northern provinces, which contribute a large part of visitors to the central province.”

The programme “Quảng Bình in the heart of Hà Nội” will be an opportunity for Hanoians to understand the nature, history, culture and people of Quảng Bình Province and connect tourism companies to meet, trade and exchange products and visitors,” said Ngô Văn Quý, Vice Chairman of Hà Nội People’s Committee.

“The programme will also help draw investment from enterprises in Hà Nội to explore and make the best of tourism potential in the central province.

“Hà Nội authorities will continue to work with Quảng Bình Province to promote the potentials and advantages in the capital and the central province, thus improving the two sides’ socio-economic development, especially tourism.”

New air routes between Đồng Hới and Cát Bi (Hải Phòng), and Đồng Hới-Chiang Mai (Thailand) were introduced at the event. 

A number of Memoranda of Understanding (MoU) were signed at the conference, including one on developing Quảng Bình-Hà Nội tourism cooperation for the 2017-20 period, and another inked between Quảng Bình and Hà Nội tourism associations, and Quảng Bình Tourism Information and Promotion Centre and UNESCO Hà Nội Travel Club. 

Events were also held in Hà Nội’s Lý Thái Tổ Park, re-enacting parts of Quảng Bình, especially its famous caves, around the Sword Lake walking street. 

Quảng Bình boasts rich tourism resources. It is home to the UNESCO World Heritage site Phong Nha – Kẻ Bàng National Park and the world’s largest cave, Sơn Đoòng. 

The province also has the longest coastline in Việt Nam with beautiful beaches and special seafood dishes, and it was chosen as one of the filming sites for the movie “Kong: Skull Island”. 

It is also preserving valuable tangible and intangible cultural values, such as “ca trù” (ceremonial singing), and “hò khoan” (a genre of Vietnamese folk music in Lệ Thủy District). 

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Heads in the clouds, feet in the water

Unusual office pals: Mother and daughter team at Chợ Rã Meteorological Station. VNS Photo Thanh Bìn

Twilight came when we were still deep in the forest. I could not stop thinking about the afternoon. We had been to the Đầu Đẳng Hydrological Station and met five young men stationed there, in the middle of nowhere.

There were no local residents, no paved roads, no market and, of course, no electricity. It was accessible only by boat.

Four times every day the men had to row a boat to the middle of the river and measure the water level.

When there’s a flood, they have to measure 24 hours a day, no matter how heavy the rain or how strong the water flow.

The hydrologists here collect data so that we at the National Centre of Hydro Meteorological Forecasting in Hà Nội can provide flood forecasts for midland and lowland river basins.

It was getting darker and we were crossing the forest to get to our boat and back to town. Late afternoon in the mountains was very quiet and boring. It was so foggy we could not see far. From the boat, we saw flickering lights along the river. There were few houses in each hamlet.

We were getting back to normal life on the other side of the Năng River. Then we came to Ba Bể Lake. I could not tell where the water ended and the mountain began. We only saw one light in the distance.

We got to the shore a few minutes past seven. I looked up, the sky was full of stars. It turned out that it was only foggy above the water.

Had we left the hydro-station earlier, we would not have felt the solitude and isolation our colleagues experience every day.

When we left, the warmth we brought left with us. And they must have felt even more isolated.

Youth energy: Nông Văn Tiếp from Bắc Kạn. VNS Photo Thanh Bình

Five young men

The five young men I met at the Đầu Đẳng Hydrological Station joined us for dinner at the centre of Ba Bể Park that evening. Each had a story to tell.

Nông Văn Chất, 31, was an ethnic Tày man from Ba Bể District. I asked why he decided to take this job. He said, “Well, I saw that the station was being built, then I thought I’d go to school and then go to work at the station.” What a simple job decision!

After three years studying at the Natural Resources and Environment School in Hà Nội, he went to work at the Station, where he has been for several years.

 “How much do you make?” I asked.

 “I get a little more than VNĐ2 million,” he said with a shy smile. That is less than US$100. From the shine in his eyes, I knew that he would keep working despite the meager income.

Money here does not matter as much as in town because there’s little opportunity to spend it. The closest market takes place only once every five days and it’s hard to get to. It has to be approached by boat, crossing the Na Hang hydro-power reservoir. Even if you have a little more money to buy food, you can’t keep it for long without a fridge. They hydrologists grow their vegetables and raise chickens. They are almost totally self-sustaining.

So being a meteo-hydrologist in a remote station means you need to not only know how to do your job, but also have some basic knowledge in poultry raising and gardening to survive.  

Tiếp’s story

The second man we met, Nông Văn Tiếp, 32, is from Bắc Kạn Province. Still single, Tiếp exudes a cheery spirit. He brought out two big cans of rice liquor he had distilled using herbal fermentation. It was so soothing, the liquor. Tiếp and his men spent an hour rowing their boat to the bigger station to have dinner with us. He would have to row yet another hour back for the 1am report.

Vital work: Vi Đức Mạnh examines the cable that connects the current meter apparatus in the shape of a steel fish. VNS Photo Thanh Bình

In his heavy accent, Tiếp said to us, “During flood time, I can swim, but the rules are that you must not leave the boat. I’m not afraid of heavy rain, nor strong flood. I’m only afraid of losing the steel fish (a weight with a flowmeter inside). I know how to deal with this situation. I learned it all at the weather school in Cầu Diễn on the outskirts of Hà Nội.

The fish weight has a little apparatus inside that measures the current flow, its depth and the level of turbidity in the current. It’s tied with a cable to a point lower downstream.

It takes four to record data in case such a flood hits. And when a flood hits, they need to be out there measuring the water every hour.

“Data is important. Even more so during a flood. One person steadies and rows the boat, one holds the cable and one takes notes. The fourth guy has to take a single boat upstream and clear all the floating wood and tree trunks out of the way. If the fish weight gets stuck and carried away by a log, then that’s it! If the weight gets stuck in a log, then it’s flushed away and the cable breaks.”

The third guy we met was Vi Đức Mạnh, 30. He’s signed a contract and is a permanent staff member, so his wages are higher.

“I work here, so that I can be close to home,” Mạnh said. “Close” for him means working 100km away from home. “I get to go home once a month.”

 Every time he goes home, he puts his motorbike on the boat and then when he gets to shore, he drives home.

In charge of the station is Nguyễn Huy Hoàng. He’s stationed in Đầu Đẳng but his wife and children live in Thái Nguyên. He also goes home once a month, and has a very special assignment at the same time: picking up the monthly payment for everyone else at the station. Everyone entrusted him with their bank cards and passwords. If they hadn’t done so, there would have been no way for them to withdraw cash from the accounts. Hoàng’s wife and children have come up to Đầu Đẳng to see him only twice since he started there.

“Then why doesn’t your wife come here to see you more, it’s so beautiful!” asks a young reporter traveling in the visitors’ group. Hoàng looked down, and did not answer.

Forest spot: Twilight sets in at Đầu Đẳng Hydrological station. VNS Photo Thanh Bình

If one were to ask me what impressed me most when I visited Đầu Đẳng, I would say first, the green young rice paddy, clean and beautiful at the foot of the station. Secondly, the men’s restroom was also surprisingly clean.

They also raise many chickens along with cats and dogs. Life seemed normal when I saw two mother hens taking their chicks out into the garden.

But Đầu Đẳng is not the most isolated or least accessible station. “Stations in Hoàng Su Phì or Đồng Văn Districts of Hà Giang Province are tougher to work in,” one of my colleagues said when we moved on to the next destination.

Mother-daughter team

The Chợ Rã Meteo-Hydrological station sits on top of a hill covered by different kinds of banana and bamboo plants.

The house is modest. The least comfortable of all the places we visited this time. Stationed there is a tiny family consisting of a mother, Hoàng Thị Tính, and daughter, Ma Thị Minh Hảo, a fresh graduate of the Natural Resources and Environment College. Both mother and daughter measure and send their reports every single day of the year, including New Year’s Eve and New Year’s Day.

When I posted a description about my visit to Chợ Rã Station and this special mother-daughter team, some of my colleagues commented, “These are the excellent employees of our company. We wish to meet them in Hà Nội one day!”

The next station we visited in Bắc Kạn was a brand new house. Flowers and vegetables grow everywhere around the house. The residential house is located behind the office. A tranquil river runs lazily behind it. Life seems so peaceful here for the staff, all of them are very young, energetic and cheerful.

My colleague in Hà Nội, a hydrologist named Bùi Đình Lập, heads a team that works every day with the data provided by the stations located in the mountains. They send in the data for all the rivers in the north and all the hydro-power reservoirs, including Na Hang right below Đầu Đẳng Station.

Lập works closely with all the men and women everyday. But they rarely meet. He had only been to Đầu Đẳng once before. This was his second time.

But the hosts were so busy preparing to receive our big group of 30 visitors, they did not have time to chat.

Measuring nature: the meteorological apparatus garden at Chợ Rã. VNS Photo Thanh Bình

We all turned even more silent on our way back. We all were overwhelmed by our visit and the people we met. They talked very little, kept to themselves. They lived and worked and hoped for improvement in their lives and work.

Their stories moved us. In the fading afternoon light, their tidy house in the middle of a vegetable garden, the chickens searching for food, the lazy dogs lying in the front yard and the cats that ran away to hide from us. It’s such a peaceful pastoral life. No complaints about the low pay or lack of comfort. They would all say, "It’s our duty!" 

If you, dear reader, would backpack and one day drop by their stations, you’d be welcome to stay overnight, and maybe chat with them over some home-grown food about their work. But be prepared for them to get up and leave so they can measure the river for the 1am report. VNS

From left: Nông văn Tiếp, Vi Đức Mạnh, Nguyễn Thanh Bình (author) Nông văn Chất and Nông văn Thuấn at the Đầu Đẳng station. VNS Photo Thanh Bình

Bamboo bridging: The bridge between two buildings, built to secure connection in time of flood at Đầu Đẳng Station. VNS Photo Thanh Bình

vietnamnews.vn by Nguyễn Thanh Bình