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Archive for June 28th, 2010|Daily archive page

Vietnam sees new boom in vacation homes

In Uncategorized on June 28, 2010 at 4:51 pm

Vietnam sees new boom in vacation homes

QĐND – Monday, June 28, 2010, 22:6 (GMT+7)

Investing in vacation villas and garden-view houses in resorts and tourist sites is a new Vietnamese real estate trend, but it is not easy for companies to gain quick profits.

Le Duc Hien, deputy director of ViglaceraLand, said most vacation villa projects in Hanoi and neighbouring areas were in the process of construction, but many had attracted the attention of visitors thanks to their welcoming environment.

Le Duc Hai, director of the INT Group, said people were becoming increasingly interested in finding housing in more natural environments and vacation villas were more popular.

Getaway homes sometimes worth three to four times the value of urban houses. Despite the high costs, demand is set to outstrip supply in the near future.

Marc Townsend, general director of CBRE Vietnam, said investors had recently re-launched a series of real estate projects in tourism such as resorts, villas, seaside resorts which all indicated positive signs for the Vietnamese real estate market.

Customers interested in these kinds of investments are willing to spend large sums on high value, fully-furnished homes, with the additional benefit of being able to rent them out when not in use.

Le Canh Duong, deputy director of the Investment Promotion Agency in Da NangCity said in recent years, foreign investment capital had poured into real estate and tourist infrastructure, accounting for 80 percent of the city’s investment capital.

Duong said most on tourist real estate projects featured multi-purpose complexes including luxury hotels, vacation villas and apartments for rent.

According to Savills Vietnam, Da Nang is now home to seven vacation complexes including the Hyatt Regency, Furama Villas, Silvershore and Le Meridien. Prices range from 485,000 USD to 2.5 million USD per unit. Prices of sea-view villas are often much higher.

Nguyen Canh Son, from the Furama Villas, said vacation villas were a common type of product and developing a commercial strategy was not particularly difficult.

According to experienced investors in tourist real estate, the life cycle of such projects is much longer than apartment, office buildings or commercial centre developments.

Tourist property value depends heavily on planning and management capacity or project development and on the ability to lure consumers after construction is completed. A tourist real estate project may last decades. Therefore, it is difficult to implement the concept of “surfing” for this market segment.

According to Le Duc Hai, when investing in this market segment, investors should remember a number of issues such as the timing of investment, quality of planning and financial ability of investors. If they choose a completed project, low profits are likely, while new projects and a lack of information about first-time investors may lead to problems.

In addition, investors should also pay attention to the quality of project planning, and investment, design and management consulting. If the project was good but suffered from poor management, that would lead to a rapid decrease in value, Hai warned.

The recent land fever in Ba Vi, to the west of Hanoi, was a typical example of real estate speculation. People rushed to purchase farm land and build villas in the hope of earning high profits as Ba Vi has been earmarked as a future administrative centre. However, with the development of Ba Vi at least five years away, property prices have already dropped, leaving hasty land speculators holding on to overvalued plots.

According to Nguyen Tran Nam, deputy minister of Construction, investment should be for the long-term. If traders don’t take into account long-term planning, losses will be unavoidable.

Source: VNA

Source: QDND

Asian Junior Athletics Championship to be held

In Uncategorized on June 28, 2010 at 4:51 pm

Asian Junior Athletics Championship to be held

QĐND – Monday, June 28, 2010, 22:6 (GMT+7)

PANO – The 14th Asian Junior Athletics Tournament will be launched from July 1st to 4th at the My Dinh National Stadium in Hanoi.

The coming event will draw the participation of 435 athletes under 20 years old, from 37 countries and territories. They will compete at the 44 events: half for men’s singles and half for women’s singles.

This is the first time that Vietnam will host a continent-wide sports event and it is a good opportunity for domestic athletes to exchange and learn experiences from foreign competitors, as well as for Vietnam to promote the country’s beauty and its people to international friends.

Vietnamese athletes set targets to win medals in women’s jumping and 400 meter hurdle.

Translated by Duy Minh

Source: QDND

Hanoi’s Lang Ha Market thrives as cooperative

In Uncategorized on June 28, 2010 at 4:51 pm

Hanoi’s Lang Ha Market thrives as cooperative

QĐND – Monday, June 28, 2010, 22:6 (GMT+7)

Lang Ha Market in Hanoi has seen increased business since its management was replaced by a trading cooperative, says head of the market management board Nguyen Van Hien.

“The biggest change now sees stalls in the market re-arranged in good order, making it more convenient for traders and consumers alike,” said Hien.

Lam Thi Nhu, a housewife who goes to the market every day, said, “I find it easier to find and buy everything. The fish and chicken counters are now located at the end of the market, which has improved appearance and hygiene.”

Nhu added that the market had a free-of-charge parking lot so people can go to the market on foot and browse at leisure.

A shopkeeper in Lang Ha Market, Pham Thi Thanh Huong, said, “Lang Ha Market is on a main road so we get lots of passers-by.”

All of the stores in the market have long-term contracts and have done well over the past nine years. The market management now includes 50 workers on an income of 3.5 million VND (180 USD) a month each.

“At present, as many as 34 cooperatives are involved in managing markets in the city’s suburban areas and host 6,000 trading households,” said Ho Quoc Khanh, manager of the Trading Management Division under the municipal Department of Industry and Trade.

However, this form of market management – a simple and small organisation – lacked financial capacity, to make any improvements, Khanh said.

Most markets managed by cooperatives remain small in size, so the cooperatives can only focus on management and fail to pay attention to developing services and regulating prices.

To develop this management mode among co-operatives, the Government should have incentive policies to encourage co-operatives to re-build markets, especially in rural areas, Khanh said.

Tax revenue raised through markets should be partially spent on upgrading market infrastructure. The bank sector should let co-operatives borrow money at preferential interest rates.

People’s Committees should exempt small markets in suburban districts from rent for five years, Khanh said.

Cooperatives needed more attention from relevant bodies, especially the city’s Department of Industry and Trade, said Doan Van Toan, deputy head of the Board of Policy and Development under the Vietnam Cooperatives Union.

“The Department of Industry and Trade should propose to the city specific plans to support cooperatives in managing and trading, and investing in upgrading markets, especially in rural areas,” Toan said.

Source: VNA


Source: QDND

HCM City to hold expo in Cambodia

In Uncategorized on June 28, 2010 at 4:50 pm

HCM City to hold expo in Cambodia

QĐND – Monday, June 28, 2010, 22:6 (GMT+7)

Ho Chi Minh City will hold a trade, services and tourism expo in the Cambodian capital city of Phnom Penh from July 15-19.

Over 350 enterprises in trade, commodity production, education, tourism and healthcare will display their products at the expo.

According to the HCM City’s Culture, Sports and Tourism Department, HCMC Expo 2010 will mark Vietnamese enterprises’ development at the Cambodian market.

During the event, the Vietnamese economic hub will send a group of caravans to Cambodian tourist sites in Phnom Penh and Siem Reap to promote the expo and Vietnamese tourism.

Many exchange activities and seminars to boost cooperation between businesses of the two countries will take place as part of the expo.

Source: VNA

Photo: tcdulichtphcm

Source: QDND

Lao Cai residents relocated to safer areas

In Uncategorized on June 28, 2010 at 4:50 pm

Lao Cai residents relocated to safer areas

QĐND – Monday, June 28, 2010, 22:6 (GMT+7)

The landslide-prone northwestern province of Lao Cai has finished moving about 100 households out of high-risk areas, as it was forecast to receive heavy rainfall over the next four days.

Half of the relocated households are in Sapa District and 30 are in Bat Xat District, according to the provincial Steering Committee for Flood Prevention and Control.

The heavy rains are likely to trigger landslides, particularly in places that don’t have a solid geological foundation.

The committee said Lao Cai Province had to step up prevention work, as the southern provinces in China next to the province had already suffered from severe flooding – a 500-year record – since last Friday.

In the meantime, monitoring activities should be fully brought into play from the grassroots level to minimise economic losses in advance.

Source: VNA

Source: QDND

Disadvantaged students offered chances for integration

In Uncategorized on June 28, 2010 at 4:50 pm

Disadvantaged students offered chances for integration

QĐND – Monday, June 28, 2010, 22:7 (GMT+7)

A seminar on integration education model for disadvantaged secondary students was held in Hanoi on June 28.

This is the first pilot model being implemented in Vietnam’s northern Ninh Binh province and central Quang Nam province in order to increase chances and conditions for disabled and disadvantaged students to enjoy education at junior secondary schools.

The project focuses on raising capacity for teachers, education managers and community, preparing conditions for disabled children to integrate, and providing special support for them.

Over 4,000 pupils at nine targeted schools have benefited from the project, while 760 staffs and teachers have been trained to improve their skills.

The pilot implementation of the model is a premise to create favourable conditions for disabled students to pursuit higher education.

Source: VNA

Source: QDND

Vietnam Family Day makes nation happy

In Uncategorized on June 28, 2010 at 4:50 pm

Vietnam Family Day makes nation happy

QĐND – Monday, June 28, 2010, 22:7 (GMT+7)

Cultural and art programmes were held nationwide in celebrations of the Vietnam Family Day on June 28 to promote the family-oriented tradition.

The capital city of Hanoi was colourful and cheerful during a festival on Hanoi family culture, where sports competitions, photo exhibitions on family and flower-arranging contests attracted public crowds. Remarkable was a conference honouring successful and happy families.

The festival was the coordination of action among numerous agencies, from the Ministry of Culture, Sports and Tourism to the Hanoi People’s Committee and the Vietnam Elderly Association.

The nation’s largest economic hub of Ho Chi Minh City also made the day festive on June 27 with the participation of thousands of families. It culminated in a festivity to piece 20,000 coins together into a symbol of “Family-backbone of happiness”, setting up a Vietnam Guinness.

The whole proceeds of the mosaic symbol auction will be earmarked for the construction of homes for poor families.

The southeastern region has joined the nation by holding the first family culture festival in Bien Hoa city, Dong Nai province. As many as 54 exemplary families coming from all the five regional provinces shared experiences in taking care of their families and children.

June 28 is celebrated as the Vietnam Family Day annually after the Prime Minister signed up a decision in May, 2001. The decision aims to uphold the important role played by the family and family values in developing human characters.

Source: VNA

Source: QDND

G-20 prioritises protecting economic recovery

In Uncategorized on June 28, 2010 at 4:50 pm

G-20 prioritises protecting economic recovery

QĐND – Monday, June 28, 2010, 22:6 (GMT+7)

The Group of the world’s 20 leading industrial and major developing countries agreed to prioritise protecting and reinforcing the current economic recovery to lay the foundations for robust, sustainable and balanced growth as well as safeguarding financial institutions against risks.

This was stated by the G-20 leaders at the end of their Summit in Toronto, Canada, on June 28.

Having approved a framework for strong, sustainable and balanced growth, the heads of the 20 countries agreed on reforming the global financial sector and international financial institutions, discouraging protectionism and facilitating trade and investment.

Earlier, the G-20 and their guests and international organisations held a plenary session on reforming international financial organisations and administrative mechanisms.

Speaking for ASEAN, as Vietnam holds the chair this year, Prime Minister Nguyen Tan Dung delivered a speech on the global economy and its prospects and challenges.

He said that ASEAN member countries have recently achieved a considerable degree of economic recovery after the global recession, which has helped the Asian economy to recover as well the world’s economy.

He noted that the world has weathered the worst of the storm but not yet gotten to the root of the global financial crisis, which could be disastrous if an additional crisis occurs on a national and international scale, in both developed and developing countries.

He said that ASEAN urged the G-20 to continue concentrating on the fundamental and long-term issues in its policies and measures, referring to the development of sustainable economic models of growth, settling development matters, narrowing the development gap, dealing with climate change and food and energy security.

Discussing protectionism and the facilitation of trade and investment, PM Dung voiced the group’s concern about the slowness of the Doha talks and called on the G-20 to take the lead in speeding up efforts to complete the talks as soon as possible.

He said that ASEAN praised the G-20’s strong opposition to all forms of trade and investment protectionism and asked the group to continue taking measures to outlaw barriers on trade and foreign direct investment while supporting the G-20’s measures to facilitate trade and investment.

PM Dung delivered ASEAN’s proposal that it will work together with other blocs, such as the EU, NAFTA, AU and the G-20 to compile and issue a joint statement to express a determination to complete the Doha talks within the next 12 months.

Touching on the reform of international financial institutions, PM Dung emphasised Vietnam’s and other ASEAN members’ high evaluation of the initiatives and endeavours to increase the transparency and efficiency of international financial institutions.

He praised these financial institutions for assisting development banks in the region, which has enabled them to continue aiding developing countries in terms of capital, experience and technical assistance, so they can deal with macro-economic uncertainties.

PM Dung suggested that international and regional financial institutions step up the provision of assistance to developing countries when completing their millennium development goals.

He urged the WB in particular to prioritise initiatives that support the fight against climate change and improve its capacity to coordinate financial resources in the field.

ASEAN’s representative also underlined the need to enhance cooperation and policy consultations between international financial institutions and regional organisations to make these institutions’ operations more effective.

Source: VNA

Source: QDND

VND 1.3 trillion invested in sea dykes

In Uncategorized on June 28, 2010 at 4:49 pm

VND 1.3 trillion invested in sea dykes

QĐND – Monday, June 28, 2010, 22:7 (GMT+7)

The Ministry of Agriculture and Rural Development proposed that the Government would invest VND 1,300 billion in the sea bank system from Quang Ninh to Quang Nam.

During the five-year sea dyke upgrading programme reviewing conference, the Ministry’s officials claimed that the sea bank system from Quang Ninh to Quang Nam needed upgrading and fortifying, and coastal forests in the area should be protected and replanted.

At the conference, Deputy Prime Minister Nguyen Sinh Hung agreed to the proposal and asked involved local authorities to immediately draw up plans to recover and replant coastal forests in their localities.

He ordered local authorities to finish all coastal forest planting projects in 3 years.    

Source: NLD/ Photo: VNA

Translated by Thu Nguyen

Source: QDND

Vietnam to speed up PCA negotiations with EU

In Uncategorized on June 28, 2010 at 4:49 pm

Vietnam to speed up PCA negotiations with EU

QĐND – Monday, June 28, 2010, 22:7 (GMT+7)

Deputy Prime Minister Pham Gia Khiem has called for the completion of the final negotiation round on the Partnership and Cooperation Agreement (PCA) with the European Union (EU) to be signed in Belgium in October.


Mr Khiem made the request at a conference of the National Committee for International Economic Cooperation in Hanoi on June 28, aimed at establishing key tasks for the committee in the second half of this year.

Mr Khiem asked the committee to work more closely with relevant ministries and agencies to finalise the 2010-2020 Free Trade Agreement (FTA) plan to submit to the Prime Minister in July.

He also emphasised the need to complete the report on Vietnam’s economic situation since the country joined the World Trade Organisation (WTO) three years ago, as well as the research on Trans-Pacific Partnership (TPP) Agreement and the technical assistance project in the post-WTO period.

Mr Khiem suggested coordinating with the Government’s negotiation delegation and boosting cooperation in APEC and ASEAN to help accomplish these tasks. It is essential to make an assessment of WTO membership’s impact on Vietnam’s development, he said.

Deputy Minister of Industry and Trade Nguyen Cam Tu, who is also General Secretary of the National Committee for International Economic Cooperation, said so far Vietnam and the EU has completed seven rounds of negotiations on the PCA. However, eh said the EU has not yet fully recognised Vietnam’s market economy status.

Mr Tu said at present 22 countries have already recognised Vietnam’s market economy status.

Source: VOV

Source: QDND