Vinalines debts exceed charter capital

A government report has confirmed that Vietnam National Shipping Lines' (Vinalines) debts are much greater than its charter capital. The report, signed by Minister of Transport Dinh La Thang was released to the on-going session of the National Assembly. Vinalines debts are much greater than its charter capital. The report showed that prior to 2009, the firms had operated well, but since then it had fallen victim of several stagnant projects, incurring major debts. By the end of 2010, Vinalines' debts were 4.27 fold greater than its charter capital and business efficiency had sharply decreased, in addition to servicing high interest loans. Vinalines has faced losses since 2011 and this has continued in the first four months of this year. Besides the negative impact of the economic downturn, lax supervision by the Ministry of Transport and internal disunity among Vinalines' management were cited as causes for the shipping giant's failures. Vinalines management approved the purchase of a used floating dock that was manufactured back in 1965 for a total cost of USD13.5 million for use in a shipyard they had planned to construct in Ba Ria-Vung Tau Province. The dock, which had been de-listed from active service by the Russian Maritime Register of Shipping, was obsolete and the purchase triggered the arrest of a number of Vinalines officials on corruption charges. Following an investigation by the Government Inspectorate, the Prime Minister demanded the Ministry of Transport tighten control over the investment in the ship repair project. The ministry was also required to explain the late submission of a plan on the development on shipbuilding industry sector by 2020 with a vision to 2030. Minister of Transport Dinh La Thang said the ministry had fulfilled its responsibility on managing Vinalines and the corporation had developed well over a long period of time. Ministry of Planning and Investment denies involvement in Vinalines scam Answering a question from National Assembly Deputy Le Thi Nga from Thai Nguyen Province about Vinalines' violations, Minister of Planning and Investment Bui Quang Vinh said the ministry was not responsible. He added that, under the current laws, state-owned corporations and groups were liable for their own decisions and had not needed to inform the Ministry of Planning and Investment (MPI) about their projects, therefore, the MPI do not know their problems. Finance Minister Vuong Dinh Hue also said that the Government Inspectorate had reached clear conclusions on the Vinalines case. The firm's chairman and directors of its affiliates had shouldered the main responsibility for their badly judged investment decisions. He noted that the inspectorate's report did not mention the responsibility of the MPI or the Ministry of Finance. Vietnam tours
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HCM City to crack down unlicensed markets

The HCM City People's Committee has asked the local Department of Industry and Trade to study solutions to stop the construction and operation of unlicensed markets and those which violate planning regulations. From now to 2015, HCM City put a moratorium on building new markets, reduce the number of existing markets This is among main contents in the city's plan on the orientation development of markets, supermarkets and trade centres through 2015. From now to 2015, HCM City will put a moratorium on building new markets, reduce the number of existing markets in the inner city and particularly clamp down on unlicensed markets. The People's Committee has also urged districts to refurbish local markets to ensure fire safety, hygiene and security. Markets will also be required to have parking areas, public restrooms, rubbish bins and drainage. The Department of Industry and Trade will work with concerned agencies to classify markets, supermarkets and trade centres, as well as help localities to offer training coursers for market managers in marketing and food hygiene training for traders. The city will also encourage investors to build supermarkets and trade centres at transport hubs, shopping areas, pedestrianised streets, new urban areas and markets that operate with losses. So far this year, overall sales have dropped by 30-40% at traditional markets in HCM City, as shoppers turn to supermarkets and trade centres, which are clean and often offer attractive promotions. At these newer facilities prices are marked, so they do not have to worry about being cheated. Many HCM City traders seek to sell their market stalls Due to the decline in sales many traders at traditional markets in HCM have offered to sell stalls, or have gone out of business to avoid further losses. Sellers at Vinh Loc Market at Binh Chanh District and Thi Nghe at Binh Thanh District are among those hardest hit. Up to 15% of traders at Vinh Loc Market stopped selling from Monday to Friday. One trader, Duong Thi Nguyet, said, some months ago, she bought the stall from a friend for VND70 million (USD3,300), but now she has been forced to sell it at a loss because of its unprofitability. Downtown markets have also seen markedly fewer customers, including Thi Nghe Market. Vietnam tours
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International kindergarten operates without license

A large international kindergarten with two branches in HCM City has been been operating without license for nearly a year. Maple Bear Canada Kindergarten operate without license for nearly a year The Maple Bear Canada Kindergarten, owned by the Citysmart Company, with branches in District 7 and District 11, has been in operation since August 2011. However, the local Department of Education and Training (DET) said on May 29, 2012, they issued an operating permit they to only the school in District 11. The school currently offers two summer programmes. The Global Course is the most expensive, costing VND28,430,000 (USD1,362) for all day classes, and VND21.850.000 (USD1,046) for half day classes. Fees for the Integration Course are VND22,190,000 (USD1,063) for all day classes and VND19,750,000 (USD946) for half days. School staff has said that parents are also responsible for a number of other fees that can add up to tens of millions of VND. The head of the organisation and personnel office of HCMC DET, Van Cong Sang, said that only the Maple Bear Kindergarten in District 11 was given a permit. The legal representative of the school is Thomas Justin Tie Qiao Chan, General Director of Citysmart Company and Nguyen Thi Thu Cam is the headmaster. "The other facility violated the law by operating without a license. We plan to inspect this facility soon," Sang said. An official from HCMC DET revealed that the Maple Bear School is applying for a permit for another branch in District 1, not District 7. Not only has the kindergarten been operating without a license, but it has also been teaching a different curriculum from that which was registered. The operating permit which was issued stated that the teaching programme would be the same as the Maple Bear School in Canada and that students would be foreign and overseas Vietnamese living in the country. But staff at both branches said that the schools currently have a large number of Vietnamese students and that it also teaches the curriculum of the Ministry of Education and Training. Eight of registered teachers at the District 11 branch are Vietnamese even though the school advertises that students will be taught by native English speakers. The schools are set up in commercial buildings, which are often crowded and have no outdoor playgrounds. Vietnam tours
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Amazing Headphone shows what kind of music you are listening to

The headphones world just got its latest concept – a headphone set that shows what kind of music you are listening to. Two Korean designers (if we have to judge by the names) – ChanHyun and Seji Kim – came up with this concept, which they called Amazing Headphone. These headphones are like all other headphones except that they come with a rather stylish design and visualization displays that turn on when you listen to music. The visualization also changes – it can be in the form of a bar chart, a light wave or frequency of outbreaks. Amazing Headphone The concept headphones are not mass-produced at the moment but the Korean designers are looking for a way to take them to the mass market. yen sao hitech review hue tourism vietnam weight loss cute girl dac san hue how to solve rubik how to tie a tie how to be pregnant how to cv what is fashion trends visit vietnam ky nang ban hang kinh doanh quoc te ngu phap tieng anh de thi dai hoc luan van ngan hang luan van thac sy bao cao thuc tap Quan tri kinh doanh Anh van giao tiep Bao cao thuc tap ke toan Bao cao thuc tap khach san Luan van bao chi Luan van van hoc Luan van sinh hoc Luan van hoa hoc Bao cao thuc tap xay dung Bao cao thuc tap co khi Bao cao thuc tap cong nghe thong tin Bao cao thuc tap nhan su Bao cao thuc tap quan tri kinh doanh De an giao duc
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Sugar makers face difficulties

Sugar manufacturers across the country are struggling due to oversupply and a lack of demand that have forced prices down by VND1 million (USD50) to VND1.7 million (USD80.9) per tonne. Sugar cane is gathered for crushing at the Quang Phu Sugar Mill in the central province of Quang Ngai. Oversupply and low demand have left sugar producers in trouble . — VNA/VNS Photo Thanh Long A report by the Ministry of Agriculture and Rural Development's Information and Statistics Centre said since the beginning of the year, manufacturers had produced 1.03 million tonnes of sugar, a year-on-year increase of 163,000 tonnes. It also added that the stockpiled volume had soared by 142,200 tonnes year-on-year to nearly 530,000 tonnes. The industry estimated that the country needed to import only 200,000 tonnes of sugar to meet domestic demand. Manufacturers, however, said this would be problematic, because this year's import quota was 250,000 tonnes, based on predictions made at the end of 2010. But with consumption down, pressure is growing on the sugar industry. In March and April, sales reached just 85,000 tonnes and 72,900 tonnes respectively, compared to around 110,000 tonnes per month last year. Moreover, banks have tightened monetary policies, making it harder for companies to take out loans. As a result, 16 out of 38 Vietnamese sugar manufacturers have already halted production, and a further eight are likely to do so by the end of the month. Supply was much higher than demand, and the situation would get worse if more sugar was imported, said Nguyen Thanh Phong, chairman of the Vietnam Sugar and Sugarcane Association. To help manufacturers, the association has asked the Ministry of Industry and Trade to extend the final date for the quota past December 7 for the remaining tonnage that has not already had contracts signed for it. Credit support was also needed to help manufacturers pay overheads and farmers, the association said. Vietnam tours
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Gas companies fleece their customers

Experts have proposed tightening State management of retail gas prices because domestic prices do not reflect the fall in international prices. The quality and price of gas may come under stricter control Different places, different prices Although contract fees for gas imports have gone down by USD100-120 per tonne, most import companies have switched to spot delivery contracts because the Dung Quat refinery is undergoing maintenance. This has driven up prices by USD60-80 per tonne. As world fuel prices continue to fall, domestic price should have seen a reduction of VND40,000 (USD1.9) per 12 kilo tank, but gas companies have only reduced their prices by VND30,000 (USD1.4) in order to maximise profits. Listed gas prices in Vietnam range from VND340,000-350,000 (USD16.1-16.6) per 12 kilo tank. Gas companies have been making large profits, as their reduction in prices reflect only 50% of the reduction in world prices. Ms. Liem, of Hanoi, said she bought a 12 kilo tank at Petrolimex on June 4 for VND360,000 (USD17.1) even though the listed price was VND340,000 (USD16.1). She was told by an employee that the extra cost was for business expenses, including transport, employee salaries, etc. Another Petrolimex outlet in Cau Giay District listed a different price of VND350,000 (USD16.6) for 12 kilos tanks. Managers at major gas companies refused to make any comment. One unnamed official said, "The prices we give to our dealers is not public information, and is flexible, depending on the situation." Do Trung Thanh, of Saigon Petro's Sales Department, said that the processes and time needed to adjust petroleum and gas prices was not the same. The price of petrol is managed by the Government, while gas prices are regulated by market management agencies. "Common interest among gas companies makes stabilising gas prices a difficult task. When PVN's Dinh Co Company was put into operation several years ago, gas companies held a meeting. The result of that meeting was Dinh Co raising their prices so the other companies could compete," Thanh said. Nguyen Xuan Chien, Deputy Director of the Domestic Market Department, under the Ministry of Industry and Trade, shared that the ministry would co-operate with the Ministry of Finance to require gas companies to lower their retail price. "Gas prices should be based on the market and comply with Government policies. The Ministry of Finance has the right to apply measures to stabilise gas prices if necessary", Chien suggested. Vietnam tours
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Mysteries of everyday life

Continuing on from my last blog entry about the Vietnamese penchant for telling foreigners they "don't understand Vietnam", I thought I'd turn to my readers to help me make sense of some Vietnamese practices which I freely admit I don't understand at all. These are things I haven't seen outside of Vietnam, but commonly observe here, leaving me wondering, why do they do that? I'm intrigued to know the answers. The first practice is that favourite pastime of Vietnamese youngsters, of setting up modelling sessions in various picturesque locations around town, such as against a rustic-looking wall, or in a flowerbed. Photography is a hobby enjoyed all around the world, so that's not the mystery, and nor is why people would like photos of pretty things. What's unusual to me is that so many young people go out of their way – sometimes even deliberately travelling to faraway scenic destinations - to set up these very staged photo shoots, and pose like models. And sometimes very provocatively too. This practice is pretty much non-existent where I come from, where the only people staging modelling shoots are… models! So I'd like to know, what's done with these photos? Who are they for? Is it to impress the opposite sex? Is the fun in the actual taking of the photos, or in seeing yourself on film afterwards? Why are such pre-planned photos seen as more appealing than a spontaneous happy snap? And most intriguing of all, when did this start happening in Vietnam: was this also a popular pastime before the advent of digital cameras? The next mystery to me occurs in the forests of Vietnam. I've been very lucky to spend a lot of time in many of this country's national parks, hoping to observe local wildlife, but it's the local people who have usually been the most noticeable. Whether I've been in Cat Tien National Park or Ba Vi National Park or Cuc Phuong National Park it's always the same. I'll be quietly and patiently trying to observe a bird or an animal through my binoculars, enjoying the beauty and tranquillity of nature, when I hear "WHOOP!" And again "WHOOOOOOOP! WHOOP! WHOOOP!" No, it's not the call of a rare and endangered bird, it's the call of the Vietnamese tourist, because it seems to be that when Vietnamese people visit a forest, usually in quite a large group, they feel the urge to shout. Repeatedly, and often. And not words, just sounds, or exclamations. Is it because most Vietnamese people are so used to being around constant noise and commotion that the silence of the forest overwhelms them and they want to destroy it? Is it because they're scared of wild animals which might be ahead? Or is it because they're just so excited by being in nature that they want to shout out their happiness? My final puzzling practice also relates to nature. One of my favourite times of year in Hanoi is Tet, when people's homes and offices are decorated with beautifully shaped cumquat trees, and flowering pot-plants are presented as gifts. Yet every year, after Tet is over, I am shocked to see these very same cumquat trees lying in the gutter or in bins. Why are these trees, which are still alive, and can surely be kept alive until Tet next year, treated like a single-use item? Our landlord recently came into our house and was shocked to see that the plant he'd given us at Tet hadn't been thrown away, and was in fact still sitting on our shelf, alive, and ready to flower again, more than six months later. I should add that I'm a terrible gardener, and if this plant could survive in my house, then it's definitely not difficult to look after! In countries that celebrate Christmas, Christmas trees have to be thrown away right after the festive season is over because they're not actually alive. Unlike Tet trees, which are potted, roots and all, Christmas trees are cut off at the trunk and only survive a couple of weeks inside. So is it bad luck to keep the cumquat trees and other plants from one Tet to another? Are they just too impractically large for most people's homes or gardens? Would they grow too big, even if they're trimmed, to be used for another year? Or, are they actually collected from the rubbish and replanted by the orchard growers? One of the greatest things about living in a foreign country is constantly being amazed and baffled by what goes on around you, but still, I'd love to get to the bottom of these Vietnamese mysteries. *** Tabitha Carvan writes the blog The City That Never Sleeps In about expat life in Hanoi. Vietnam tours
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what is fashion trends Today, Dong Ba Market plays an important role in the field of Hue's economic development. If you are in Hue, Dong Ba Market should not be ignored. It will help you understand more about Vietnamese food or culture in general and Hue's food or culture in particular.
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