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Archive for December 11th, 2008|Daily archive page

Boeing grants scholarships to 30 IT students

In Uncategorized on December 11, 2008 at 1:30 pm

Hanoi (VNA) – The aerospace company Boeing has granted 30 scholarships, worth 1,000 USD each, to students enrolled on the information technology (IT) training course organised by the Vietnam Software Engineering Group (SEG Vietnam).

The Boeing scholarships were presented to outstanding but disadvantaged students from SEG Vietnam who study at Duy Tan University ( Da Nang ), Van Lang University ( Ho Chi Minh City ) and the Institute of Information Technology under the DTT Technology Group ( Hanoi ).

Boeing and SEG Vietnam also cooperated with Carnegie Mellon University in the US to develop a “Train-the-Trainers” programme. The programme aims to help SEG Vietnam train at least 100 teachers who will, in turn, train almost 10,000 software engineers and information system experts by 2012.

The first twenty-nine Vietnamese teachers have already completed their training course at Carnegie Mellon University , and the next course is scheduled to be held during the summer of 2009.

Deputy Minister of the Ministry of Information and Communications, Tran Duc Lai, said that Boeing’s financial support for IT education and training, particularly for software engineering, will help Vietnam to develop its human resources, which will play a key role in the future of Vietnam’s IT development.-

China, Japan, RoK bankers to hold regular dialogue

In Uncategorized on December 11, 2008 at 1:27 pm

Hanoi (VNA) – Central bankers of China, Japan and the Republic of Korea (RoK) will hold regular meetings to discuss regional economic and financial issues, Chinese media reported on December 10.

The mechanism is aimed to enhance dialogue among the financial policymakers of those countries, China’s central bank said in a statement.

The exchange will be conducive to monetary and financial stability of the region, the statement said, adding that the meeting would be held once a year and Beijing will host the first such meeting next year. –

ASEAN armies move forward closer cooperation

In Uncategorized on December 11, 2008 at 1:25 pm

Hanoi (VNA) – The armies of the Association of the Southeast Asian Nations (ASEAN) have moved forward in enhancing and institutionalising their regional cooperation at the 9th ASEAN Chiefs of Armies Multilateral Meeting (ACAMM) in the Philippines.

“We have moved forward from 8th ACAMM in enhancing and institutionalising regional cooperation,” Armed Forces of the Philippines Chief of Staff, General Alexander B. Yano was cited by the Philippine News Agency (PNA) as saying at the opening ceremony.

Yano also emphasised the innovations to address the threats of terrorism and transnational crime as well as the importance to have common plans and defence cooperation, intelligence sharing and maritime security of Southeast Asia.

The Philippines Army (PA) is the host of this year’s ACCAM which was themed “Ensuring Regional Peace and Stability Through the Collective Strength of the ASEAN Armies”.

Meanwhile, PA chief Victor S. Ibrado said the ACAMM allows the Army chiefs to understand each other and learn from one another.

“Security challenges transcend boundaries but with our collective cooperation, we can surpass them all,” he said.

This year’s ACAMM was attended by leaders from Malaysia, Indonesia, Brunei, Thailand, Singapore, Vietnam, Cambodia, Myanmar and Laos.-

Vietnam to pour over 2.3 trillion VND into climate change

In Uncategorized on December 11, 2008 at 1:22 pm

Hanoi (VNA) – Prime Minister Nguyen Tan Dung has approved a budget of more than 2.3 trillion VND for a national programme to cope with climate change from 2009 to 2015.

The budget, expected to come from non-refundable aid and long-term soft loans, will support the programme implementers to assess levels of climate change impacts on sectors, branches and localities.

Such assessments will then serve as grounds for the creation of an effective action plan in the field, said the Ministry of Agriculture and Rural Development.

Studies indicate that Vietnam is one of the five countries in the world that are most vulnerable to climate change.
If sea level is supposed to rise one metre, around 5 percent of Vietnam ’s land would be adversely affected, causing difficulty for around 11 percent of the nation’s population, and reducing 7 percent of farm output and 10 percent of GDP.

Realising those threats, the Ministry of Natural Resources and Environment has asked the agricultural sector to promptly figure out climate change impacts on specific crops, even on the plants that can greatly benefit from climate change, in order to formulate long-term development strategies.

At a recent seminar on climate change impacts on farming and food security, Dr. Nguyen Huu Ninh, President of the Civil Society Network on Climate Change, said human actions are very the cause of climate change, meaning a 90 percent probability and only humans can do to mitigate those changes.-

Doctors get updated spinal cord lesion treatment

In Uncategorized on December 11, 2008 at 1:21 pm

Hanoi (VNA) – Over 300 Vietnamese doctors and nurses have enjoyed the seventh symposium of the Asian Spinal Cord Network (ASCoN), a chance for them to get updated with advanced spinal cord lesion management and treatment from their Asian counterparts.

Some 67 doctors and experts on spinal cord from 20 Asian countries participated in the three-day symposium, which kicked off in Hanoi on Dec. 9 under the auspices of the International Spinal Cord Society (ISCoS) and the joint organisation of Handicap International of Belgium (HIB) and Bach Mai hospital.

Associate Professor Tran Thuy Hanh, Acting Director of Bach Mai hospital, where a spinal cord injury unit was set up with HIB funding, reported that about 2,000 people suffer from spinal cord lesions a year in Vietnam .

Early therapeutic intervention and injury management can help patients with spinal cord lesions to recover quickly, doctors said.

This is the second time Vietnam has hosted the ASCoN symposium. The previous was the fifth symposium, which took place in Ho Chi Minh City in December 2005.-

Second ICT forum kicks off in Hanoi

In Uncategorized on December 11, 2008 at 1:19 pm

Hanoi (VNA) – The second Hanoi forum on Information-Communication Technology (ICT-Hanoi 2008), themed “ICT industry issues and challenges”, opened in Hanoi on Dec. 11.

Prof. Dao Trong Thi, chairman of the National Assembly’s Committee for Culture, Education, Youth and Children and almost 200 policy makers, IT businessmen and specialists from the US, France, Finland, Germany, the Republic of Korea, Japan and India attended the event, which was co-organised by the Hanoi National University and the Korea Foundation for Advanced Studies.

Participants exchanged knowledge and experiences regarding ICT and informed each other of current opportunities and challenges within the industry. They also mapped out solutions and application models to promote the development of Vietnam ’s IT industry.

They also discussed solutions for IT human resources development, Natural Language Processing (NLP) and Software Engineering (SE).

A host of current hot topics relevant to Vietnam’s IT industry were also presented at the forum, such as ICT competitive strategies and intellectual property rights, the use of technological and scientific budgets for research and development and the influence of IT on a range of social issues.-

Increased demand pushes US dollar up against the dong

In Uncategorized on December 11, 2008 at 1:17 pm

Hanoi (VNA) – A US dollar has cost more than 17,200 dong on the black market in recent weeks, while the official exchange rate has reached almost 17,000 – the upper reaches of the daily trading band.

The daily trading band is now at plus or minus 3 percent against the interbank rate. On Dec. 10, the State Bank of Vietnam listed the interbank rate at 16,491 VND per US dollar, so banks were not allowed to charge more than 16,985.73 or less than 15,996.27 VND for the greenback.

State-owned BIDV listed its buying-selling prices at 16,985/16,986 VND and Agribank’s price was 16,920/16,987 VND.

Vietcombank listed its buying-selling prices at 16,980/16,986 VND.

The buying-selling prices for joint stock banks such as the Asia Commercial Bank, Eximbank, Sacombank and Techcombank was about 16,970/16,986 VND to the dollar, up about 200 VND over early last month.

The interbank rate has remained around 16,490 VND, so exchange rates at commercial banks have stayed right at the upper cap.

Pham Thanh Ha, head of the treasury department of Vietcombank said that the bank was able to meet market demands of the US dollar, but he also said that the demand for the greenback had been increasing remarkably.

“However, if the demand keeps going up more and more, I think the trading band of plus or minus 3 percent will not be okay anymore. We now have to buy dollars lying around at rather high prices, and people don’t want to sell if we don’t offer higher prices,” Ha said.

“Bank are only bridges to the financial market. We have to buy dollars lying around and then sell to those who need it,” he said.

But even when banks listed spot exchange rates below the upper cap of the trading band, some enterprises reported having to buy US dollars at some banks in Hanoi at about 17-17,100 per US dollar.

In the numerous foreign exchange bureaus and gold shops on Hanoi’s Ha Trung and Tran Nhan Tong streets, the dollar was sold for 17,200/17,300 VND on Dec.10.

In the non-deliverable-forward, or NDF, market – where investors anticipate the value of currencies – the monthly cost of the US dollar is expected to rise to 17,520 VND – up 200 VND against early November. The numbers are expected to climb to 18,270 VND for three months. The dollar is expected to cost 20,015 VND by December next year.

The recent appreciation of the US dollar has been blamed on a short supply of the greenback on the local market.

A senior official at the SBV said one of reasons for the US dollar appreciation Vietnam ’s huge trade deficit. According to the General Statistics Office, the deficit in the first 11 months of the year reached nearly 17 billion USD compared to the total figure of 12 billion USD last year.

Another important reason for the appreciation of US dollar was the temporary paucity of imported gold, which was believed to cause gold smuggling across the border which then increased demands on US dollars for payment.

High demand on US dollars at foreign banks, estimated to be 40 million USD per day, was also blamed on the US dollar appreciation. The higher rate was also attributed to public sentiment and speculation.

Many believed that the remittance sent to Vietnam by the end of this year would not be large, due to the ongoing global financial market turmoil, particularly in the US .

According to World Bank staff’s estimation in November, based on the International Monetary Fund’s Balance of Payments Statistics Yearbook 2008, Vietnam is expected to receive 5.5 billion USD of remittance. This number is the same volume as 2007, while local economic situations need more US dollars to deal with challenges. The State Bank of Vietnam ’s deputy governor Nguyen Dong Tien did not comment on this remittance figure.-

Police ensure traffic safety for Tet

In Uncategorized on December 11, 2008 at 11:58 am

HA NOI—Traffic police nationwide would begin a campaign next Tuesday to ensure traffic safety and social order for the Tet holiday, said Tran Son, vice head of the Traffic Accident Investigation and Law Instruction Unit under the Ministry of Public Security.

The traffic police would mobilise their force to the maximum extent to implement this campaign, said Son. Strict punishment would be given to violators for infractions.

The primary focus of the campaign will be local roads and national highways 1A, 5, 51, 14, 18. Specific locations where traffic accidents are well known to happen will also be heavily patrolled.

The campaign will include comprehensive checks of common violations made by coaches and motorbikes, including excessive speed and driving while intoxicated.

Traffic police will also take precautions to prevent illegal motorbike racing and minimise traffic jams, according to Son.

This campaign will be implemented to handle the dramatic increase in vehicles that swarm roads during the Tet Holiday. Many people travel to or from the countryside to visit family and friends and to see beautiful locations and pagodas in the surrounding areas.

Huge jump

Due to a huge jump in traffic, police expect a much greater number of road violations, accoding to Son.

Road and Railway Traffic Police Department statistics show that during the last Tet holiday there were 315 traffic accidents in which 216 people were killed. The primary reasons for the deaths were excessive speeds and drivers and passengers without helmets.

Strict punishments are possible for those in violation of traffic rules. In addition to fines based on the level of the violation, rule breakers may face the temporary revocation of their drivers license, license plate or even their entire vehicle. Fines range from VND40,000 (US$2.5) to VND14 million ($875), depending on the infraction.

For example, cars that drive more than 35km per hour over the posted speed limit and have passenger numbering more than 50 per cent of the car’s capacity would temporarily lose their license plate, said Son.

Coaches without business licences would also lose their plates, said Son.

Coaches carrying more than the permitted number of passengers would be asked to stop and let the passengers off the coach. Passengers would have their fares reimbursed. The coaches would be required to temporarily stop service for five days and lose their licence plates.

The traffic police would co-operate with transport departments to develop specific plans to ensure transportation safety during the holiday, said Son.

“It is necessary for the traffic police to patrol during the Tet Holiday because many coaches cram passengers into the vehicle to increase profits and travel at high speeds,” said Le Van Hong, a soldier in Ha Tay Province who has had to suffer packed coaches in the past.

They could make the roads very dangerous and many serious traffic accidents had happened during Tet, said Hong.

“Many people were distracted during the holiday and did not pay much attention to driving. They were too busy thinking about their Tet preparations or where they would travel to,” said Nguyen Thi Mai in Nga Tu So Market.

“Not to mention, they were usually drunk,” said Mai. —

Brokers to help build ‘UPCom’

In Uncategorized on December 11, 2008 at 11:55 am

HA NOI — Brokerages serving the OTC market will form a co-operative working system under the Ha Noi Securities Trading Centre aimed at boosting the effectiveness of investments in this market, under a draft rule currently being circulated by the centre for comment.

Referring to the new, more tightly regulated OTC market as the market of “unlisted public companies” – or UPCoM – the centre said that greater co-operation among securities companies would help provide customers with more effective services, while minimising the risks associated with trading in unlisted shares.

Leading brokerages expected to participate in UPCoM include SME Securities, Sai Gon Securities Inc, and FPT Securities. Selected firms would be expected to support each other in terms of professional skills and solving problems encountered in the trading process.

Nguyen Thanh Ky, general director of the Viet Nam Association of Securities Businesses, said, “Each brokerage must be carefully aware of its responsibility … to raise investor confidence in this market.” —


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