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Posts Tagged ‘concern’

Concern over inflation drives markets down

In Uncategorized on October 14, 2010 at 6:33 pm

Vietnam’s benchmark VN-Index, a gauge of 255 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, made correction on September 21 as an increase of 1 percent in the customer price index in September affected investors’ psychology.

Movements of VN-Index on September 21. (Photo: vietstock.vn)

The index finished at 453.32 points, shrinking 4.55 points, or 0.99 percent.


However, liquidity on the city bourse maintained at high level as around 57.41 million shares traded at VND1.7 trillion.


On the benchmark, 56 stocks gained, 142 dropped, while 62 treaded water.


Ocean Group Joint Stock Company (OGC) and Quoc Cuong Gia Lai Joint Stock Company (QCG) were the two most remarkable stocks on the southern market today.


Trading volume of Ocean Group Joint Stock Company (OGC) spiked to a record of 14.3 million shares, accounting for 25 percent of total trading volume on the floor.


It was followed by Vietnam Export Import Commercial Joint Stock Bank (EIB), which saw 1.62 million shares being traded.


Meanwhile, furniture producer Quoc Cuong Gia Lai Joint Stock Company (QCG) advanced for the sixth day, surging 4.91 percent to VND29,900, with 1.33 million shares changing hands today.


MTGas Joint Stock Company (MTG) tumbled 30.1 percent to VND13,700. The company will issue 4 million bonus shares to its current shareholders with a ratio of 2:1. This is a part of the plan to issue 8 million shares to increase its capital to VND160 billion.


Godaco Seafood Joint Stock Company (AGD) slumped 4.85 percent to trade at VND31,400.


Ha Tien Transport Joint Stock Company (HTV) declined 4.84 percent to VND41,300.


Construction company Lilama 10 Joint Stock Company (L10) rebounded 4.84 percent VND39,000.


Meca Vneco Investment and Electricity Construction Joint Stock Company (VES) climbed for three consecutive days, closing up 4.76 percent to VND24,200.


The Hanoi’s HNX-Index slipped 1.74 points, or 1.31 percent, to 131.57 points. Trading volume slightly fell over the previous day as nearly 40.4 million shares changed hands at VND1.01 trillion.


The UPCoM-Index clipped 0.59 points to 47.75 points. A total of 237,700 shares were traded at a value of VND4.77 billion as of lunchtime.

Source: SGGP

Education relevant agencies concern studying, teaching quality

In Uncategorized on October 13, 2010 at 8:05 am

The government ordered the rate of private pre-schools account for over 70 percent by 2010. Although the Ho Chi Minh City has reached half of the required number, relevant agencies face pressure in controlling studying and teaching quality.

students of Tran Khai Nguyen High School in district 5 are playing sport. It has converted from self-financing institute into state school (Photo: Ngoc Anh)

In response to the government’s appeal for social contribution to education sector, investors have opened many private facilities in the city. There are some kinds of educational institutes with different tuition fees including public schools, semi-public schools or self-financing facilities, private facilities and high quality schools.


Moreover, it takes time to check quality of these private and high quality schools. Tran Thi Ngoc Anh, head of the delegation of People’s Council, said the city should not try to increase private schools or else it would place pressure on management of studying and teaching quality.


In addition, although private facilities have contributed to reduce pressure for public ones, they didn’t enjoy tax exemption as an encouragement while tuition fee in private schools are high. High tuition fee hindered children of poor income families to continue their further schooling, said an education official.


The flip side in pre-school system in the city is that children of high income families study in public educational facilities while kids from meager income families have to learn in private institutes with high fee, said Nguyen Thi Kim Thanh, head of Pre-school Department, part of the city’s Education and Training Department.


Educationists concerned training quality in senior schools since qualifying scores of students in private schools are always lower than their counterparts in state facilities. Most of students in high school come from rich families in southern provinces.


According to some educational experts, it seemed that the rich have had more choices with the plan to call for social contribution to education sector in recent years rather than the poor. Despite the sector’s special treatment towards kids of poor families like exemption of tuition fee, their kids’ studying pursuit is still a burden for them.


Tran Thien Tu, chairman of the Association of Businesses in IZ and EPZ (HBA), said it should clearly distinguish between state and private schools as the government produced self-financing schools as private facilities.


In addition, another form of schools has been produced – that is high quality institutes. Satisfactory standard facilities and teaching staff are requisites for a high quality schools as well as meet the demands of parents, according to Ta Tan, chief of district Tan Phu’s Department of Education and Training while his counterpart in district Go Vap, Dang Thanh Tuan, said each district should select a few schools to become high quality schools.


Many districts have not changed any schools into high quality facilities because it needs a roadmap to convert public schools into high quality institutes and relevant agencies have to check for a time.

The city has just assigned project to call for social contribution for education sector to a group of educational experts including some foreigners. The group has worked out three methodologies. The first will maintain the same as the current; the second is that schools will be given the decision on tuition fee which relies on its quality; the third is that only a few state facilities will not collect tuition fee while others will be converted into private institutes.

Source: SGGP

Macro-economic instability a national concern

In Uncategorized on October 13, 2010 at 7:51 am

How to keep the macro-economy growing steadily topped an on-going workshop in Ho Chi Minh City, where economists pointed out differing trends in the national economy that are difficult to forecast.

Workers build ship at a shipyard of Saigon Shipbuilding Industry Company (Photo: SGGP)

Dr. Tran Dinh Thien from the Vietnam Economic Institute said that the national economy was looking good as GDP growth has been high for consecutive years and in the third quarter it is likely to reach 7.18 percent, with inflation under control at 5.08 percent in the first eight months.


He warned however, at the two-day workshop on September 21, that the macro-economy has shown uncertain signs and was very difficult for economists to forecast.


He also complained of slow reforms in the internal structure.


Mr. Thien, urged immediate reforms in the State budgets, public investment and State-owned economic groups.


He also called for the State Bank of Vietnam to hold an independent position, and more efforts to develop the supporting industries and regional economies.


Salary reforms in the State economic sector and improving the handling of the macro-economy were the other steps that the senior economist urged to be taken.


Dr. Vo Dai Luoc pointed out the nation’s illogical macro-economic developments that need to be addressed, such as high inflation, the highest interest rates on deposits and loans in the world and an inflated Vietnamese dong amidst fixed exchange rates.


To address these problems, Mr. Luoc called on the State to introduce economic adjustments.


The State should also ensure reasonable growth and control inflation when handling the macro economy, he emphasized.


The World Bank’s Acting Economic Head, Keiko Kubota, recognized Vietnam’s efforts to reach to the world’s average income level of 1,100 USD thanks to its drastic economic growth.


However she pointed out that the development was based on the renewal process which has been losing its momentum and has been threatened with emerging challenges in management as well as poverty and imparity.


The Vietnamese economy is still highly competitive and has yet to fall into the income trap, the senior economist from the world’s largest development bank said.


She called on Vietnam’s development strategy to focus its economic growth on the private sector and prevent the real estate market from overheating.


Top priority should be given to pre-empting crises and supporting productivity including human resources, urbanization and infrastructure, the WB economist concluded.


The two-day workshop, was held in the nation’s largest economic hub under the co-sponsorship of the National Assembly’s Economic Committee and the Vietnam Academy of Social Sciences. It drew representatives from the Party, National Assembly and Government as well as senior experts, both from Vietnam and abroad.

Source: SGGP

Concern over bull-trap restrains liquidity

In Uncategorized on August 11, 2010 at 11:23 am

Movements of VN-Index on August 11. (Photo: vietstock.vn)The VN-Index recovered on August 11, put an end to its losing streak of five consecutive trading sessions. However, liquidity on the city bourse severely fell, as investors were concerned about the bull-trap at the beginning of the trading session.

Even though global stock markets faced many difficulties over the past 24 hours, stocks on the Ho Chi Minh Stock Exchange began today’s trading session easily, jumping up 1.41 points to 463.06. Trading volume in the first part of the trading session significantly improved over the previous day to 2.6 million shares, valued VND80.59 billion.


Upbeat sentiment was maintained through the beginning of the second part of the session, when the VN-Index surged by 4 points in just 10 minutes. Trading value climbed to VND200 billion. Blue-chip stocks propelled the market.


However, the index started to erase its accumulated points suspiciously, as soon as investors became excited.


Ending the trading session, the benchmark, a measure of 253 companies and five mutual funds listed on the city bourse, rose 0.31 percent, or 1.45 points, to 463.12.


Of the index, 147 stocks advanced, 65 declined, while 46 stalled.


Trading volume dropped by 30 percent over the previous session, to around 40 million shares, worth VND1.09 trillion.


Saigon Thuong Tin Commercial Bank or Sacombank (STB), who saw 1.75 million shares change hands today, was the most active stock in volume.


Refrigeration Electrical Engineering Corporation (REE) followed with 1.38 million shares changing hands.


Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) finished next, with 1.31 million shares traded.


Telecommunications Industry Electronics Joint Stock Company (TIE) led the big gainers on the southern market, spring up the daily maximum allowed limit of 5 percent to VND23,100.


My Chau Printing & Packaging Holding Company (MCP) went up 4.96 percent to VND12,700.


Dream House Investment Corporation (DRH) traded at VND17,000, an increase of 4.94 percent over yesterday.


Decliners included Viet Nhat Seafood Corporation (VNH), Binh Duong Mineral and Construction Joint Stock Company (KSB), and Camau Trading Joint Stock Company (CMV).


The smaller bourse in the north also revised after experiencing a choppy trading session, gaining 1.27 points, or percent, to 139.12. More than 31 million shares changed hands at a value of VND781.73 billion.


The UPCoM-Index also added up 0.69 points to 49.28, as of 11 am local time. A total of 288,663 shares were traded at VND4.62 billion.

Source: SGGP

Concern over capital leak creates bearishness in market

In Uncategorized on June 25, 2010 at 12:42 pm

Movement of VN-Index on June 25. (Photo: Vietstock.vn)Vietnam’s benchmark VN-Index fell farther than it had in a month on June 25, as investors concerned that Dragon Capital’s Vietnam Enterprise Investment Limited Fund may be dissolved, volatilizing more than US$400 million out of the market.

Despite the denial of a representative of Dragon Capital, stocks listed on the Ho Chi Minh Stock Exchange finished week dismally, losing 1.28 percent, or 6.55 points, falling to 505.12.


There were 46 stocks that gained, while 169 dropped and 30 remained stagnant. Trading volume was at 52.2 million shares, worth VND1.5 trillion.


Most blue-chips lost ground, of which the Hanoi-based TMT Automobile Joint Stock Company (TMT), Tan Dai Hung Plastic Joint Stock Company (TPC), and Vien Dong Investment Development Trading Corporation (VID) were the biggest losers on the city bourse today.


Petrolimex International Trading Joint Stock Company (PIT) and Rangdong Light Source and Vacuum Flask Joint Stock Company (RAL) together climbed up 4.98 percent to VND23,200 and VND29,500 respectively.


Godaco Seafood Joint Stock Company (AGD) and Sao Vang Rubber Joint Stock Company (SRC) advanced 4.93 percent to VND31,900 and VND42,600 respectively.


Nam Viet Corporation (ANV) won the spot of most active shares in volume with 2.81 million traded.


Vietnam Electricity Construction Joint Stock Corporation (VNE) was at second with 2.23 million shares. The company’s shares traded down 4.96 percent.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) came in third with 1.41 million shares.


Meanwhile, stocks on the northern bourse also stayed in the red. The Hanoi’s HNX-Index declined 2.58 points, or 1.58 percent, to wrap at 160.4. Around 46.7 million shares changed hands at a value of VND1.43 trillion.


Foreign investors were back to net buying this morning, nearly a VND6.9 billion value.


The UPCoM-Index of the unlisted stocks went the same way as the other two, sliding 0.18 points to 46.87. A total of 243,652 shares were traded at VND3.93 billion before lunch time.


Globally, the S&P 500 index lost 1.68 percent. Nasdaq Composite index eroded 1.61 percent. Dow Jones Industrial Average index gave up 1.41 percent.


FTSE 100 index declined 1.51 percent. France’s CAC 40 index slumped 2.37 percent.


Japan’s Nikkei 225 index closed down 1.92 percent. China’s Shanghai Composite index slid 0.42 percent.

Source: SGGP

Deputies focus on issues of major public concern

In Uncategorized on June 10, 2010 at 3:38 pm




Deputies focus on issues of major public concern


QĐND – Thursday, June 10, 2010, 21:1 (GMT+7)

National Assembly (NA) deputies have raised concerns over the Ministry of Finance’s role and responsibility over price controls, capital mobilisation and use for key national projects as well as building trademarks of agricultural products.


During the four-day question time, beginning from June 10, deputies will question four ministers, namely the Minister of Finance, the Minister of Transport, the Minister of Agriculture and Rural Development and the Minister of Culture, Sports and Tourism. Deputy Prime Minister Nguyen Sinh Hung will also take part.


NA Deputy Nguyen Huu Nhi from Nghe An said he was concerned over the high salaries of some leaders from State groups and corporations are paid. He said, “I want the Minister of Finance to clarify the regulations on the salaries of senior managers in State groups and corporations while farmers and other workers’ lives still face a lot of difficulties.”


In terms of agriculture and rural development, it is essential to consider the State’s management over the quality of plant varieties, fertilisers, pesticides and the application of advanced technologies in agricultural production, said Mr Nhi.


The Minister of Finance will respond to questions about measures to control inflation and market prices especially when there are increases in the prices of electricity, water, petro and other essential goods, greatly affecting low-income earners and poor farmers.


In the recent past, the collapse of the spans of Can Tho and Thanh Tri bridges made the media headline. The Minister of Transport will have to answer questions about the State’s responsibility for ensuring the quality of capital investment construction and transport projects as well as resolving traffic congestion and reducing traffic accidents.


NA deputy Danh Ut from Kien Giang province said that he was interested in the Ministry of Finance’s role in controlling the prices of petrol, fertiliser, steel and sugarcane.


The Ministry of Finance recently examined 17 businesses, of which 11 had not registered for price controls in a bid to drive up prices up which caused big losses to many farmers.


The Minister of Agriculture and Rural Development will then answer NA deputies’ queries about why creating trademarks for agro-fishery products is so slow.


NA deputy Nguyen Thuc Khang from Ba Ria-Vung Tau province underlined the need to discuss the capital sources for key national projects. Such issues should be carefully considered by the NA before approving key national projects, stressed Mr Khang.


Source: VOV


Source: QDND

Growing concern over shortcomings in forecasting and statistics

In Uncategorized on May 27, 2010 at 5:11 pm

Parents express concern, confusion over diarrhea vaccine

In Uncategorized on March 29, 2010 at 5:14 am

Following reports that the diarrhea vaccine Rotarix contains a pig virus called porcine circovirus 1, or PCV1, parents in Vietnam have grown increasingly anxious over whether to inoculate their children against rotavirus.


Some parents in Ho Chi Minh City say they will not allow their children to take the vaccination, administered orally, while some medical clinics have announced they will temporarily stop using it.

Following reports that the diarrhea vaccine Rotarix contains a pig virus called porcine circovirus 1, or PCV1, Vietnamese parents hesitate to take the vaccine for their children ( Photo: SGGP)

At HCMC’s Pasteur Institute, parents sought advice from experts about what to do. Some parents said they will go ahead and inoculate their children with Rotarix, as there has been no official warning issued by the Ministry of Health.


Rotarix is a two-dose vaccine that offers early protection against rotavirus to infants. Produced by GlaxoSmithKline (GSK), Rotarix is indicated for the active immunization of infants from the age of 6 weeks for prevention of gastro-enteritis due to rotavirus infection.


Some parents, like Mrs. Nguyen Anh Nguyet from District 1 who have already given one dose to their infants, said they would wait for more information before giving the second dose. 


HCMC’s Children Hospital I announced March 25 it would temporarily stop using the anti-diarrhea vaccine although it has not received any official orders to do so. Other countries have ordered doctors to temporarily avoid using Rotarix, said a hospital leader.


The Children Hospital II, which regularly sees over 130 children a day suffering acute diarrhea, has reported a decrease in the number of parents seeking the vaccine for their kids.


Dr. Nguyen Dac Tho, deputy head of the city’s Center of Preventive Health, said his center is waiting for official guidelines from the Ministry of Health and Department of Health. In the meantime, Dr. Tho said physicians should offer detailed consultations to parents about the vaccine and children should not take Rotarix unless urgent.


Meanwhile, Deputy Health Minister Trinh Quan Huan said that immediately after receiving the announcement from GSK and a warning from the US FDA about the vaccine, the Ministry of Health ordered the Drug Administration of Vietnam to report to the ministry before March 26.


Vietnamese children have had access to Rotarix since 2007 and around 155,000 doses have been administered, costing VND700,000 (US$39) each.


The Ministry of Health should quickly issue guidelines, said a manager from the Pasteur Institute, especially since the vaccine is used for infants. Although no ill effects have been reported, the future safety of Rotarix is unknown, the manager added.


Nguyen Thi Tuong Vy, marketing manager for GSK, said the drug company has sent official documentation outlining the vaccine’s safety to the Ministry of Health and relevant agencies. GSK assures that despite containing PCV-1, the vaccine is still safe for consumption.


According to GSK, the pig virus does not multiply in humans and is not known to cause rotavirus-related illness in people. The virus concerned is normally found in pigs and is even found in pork that is sold for consumption. The virus is not known to cause any disease in humans or pigs.


GSK says it is now reviewing how best to replace the cell bank and virus seeds used in making the vaccine, but it will continue Rotarix production using current methods.


Related article:
Vietnam questions GSK about diarrhea vaccine safety

Source: SGGP

Chavez criticizes US as arrests stir concern

In Uncategorized on March 27, 2010 at 11:01 am

Venezuelan President Hugo Chavez on Friday defended the arrest of a major TV channel owner, calling him a criminal and denying the government is carrying out an assault on press freedom.


The back-to-back arrests this week of two government opponents — including the owner of Venezuela‘s only remaining anti-Chavez TV channel — have drawn accusations that Chavez is growing increasingly intolerant and authoritarian as his popular support has slipped.


Opposition leaders and human rights groups condemned Thursday’s arrest of Globovision’s owner Guillermo Zuloaga, who was detained at an airport and released hours later after a judge issued an order barring him from leaving the country.

Ecuador’s President Rafael Correa, right, gestures while Venezuela’s President Hugo Chavez holds up his fist at a balcony of the government palace in Quito, Friday, March 26, 2010.

Zuloaga is accused of spreading false information and insulting the president at an Inter American Press Association meeting in Aruba last weekend, Attorney General Luisa Ortega said.


“A Venezuelan judge comes along and orders the detention of a criminal in Venezuela who owns a media outlet,” Chavez said during a visit to Ecuador. “And then they attack the government of Venezuela … for attacking press freedom, for attacking journalists and the news media — what cynicism. It’s the cynicism of the (U.S.) empire.”


Chavez also took a verbal jab at U.S. Secretary of State Hillary Rodham Clinton, accusing her of being out of touch and saying she seems more and more like her predecessor, Condoleezza Rice.


“She still considers herself the imperial lady. She is behind the times,” Chavez said. “She still thinks the United States is the owner of this continent.”


His complaints were echoed by Ecuadorean President Rafael Correa, who said his government would prepare its own report on human rights in the United States.


The State Department has said harassment and intimidation of the opposition and the media are on the rise in Venezuela.


Clinton said earlier this month during a Latin American tour that Chavez’s government is limiting freedom and should restore “full democracy,” and State Department spokesman Mark Toner has expressed concern about Monday’s arrest of opposition politician Oswaldo Alvarez Paz.


Alvarez Paz was charged with conspiracy, spreading false information and publicly inciting crime after remarking that Venezuela has turned into a haven for drug traffickers, among other accusations.


U.S. criticism of Alvarez Paz’s arrest prompted a diplomatic protest by Foreign Minister Nicolas Maduro, who met with U.S. Ambassador Patrick Duddy, the state-run Bolivarian News Agency said Thursday.


The two arrests were similar in that both men made remarks that authorities deemed false and offensive.


The Inter American Press Association said Zuloaga spoke in response to a group of pro-Chavez journalists who accused him of backing a failed coup against Chavez in 2002. He denied the charge and recounted his version of events, according to a transcript of the appearance.


“We are also against what happened back then because if it had been done right perhaps we would have a different Venezuela today,” Zuloaga said.


He accused Chavez of ordering security forces to open fire on a protest march that was headed toward the presidential palace. Chavez maintains opponents were behind the bloodshed that preceded the short-lived coup.


Zuloaga also accused the government of limiting free speech, saying: “You cannot talk about true freedom of expression when a government uses its power to repress media, to shut down media.”


Globovision has been the only stridently anti-Chavez channel on the air since another opposition channel, RCTV, was forced off cable and satellite TV in January.

Source: SGGP

‘Transplant tourism’ causing international concern: experts

In Uncategorized on March 25, 2010 at 5:22 am

Moves to combat “transplant tourism”, in which patients from rich countries pay large sums to have organ transplants in poor ones, are gaining pace, experts told an international conference.

In what doctors described as a world first, a Danish woman has given birth to two children after her fertility was restored using ovarian tissue that was removed, frozen, thawed and then reimplanted after cancer treatment.

The World Health Organisation and the European Union have led the way in tackling the problem, the Madrid conference on organ donations and transplants heard.


“Stopping the illegal trafficking of organs and ending transplant tourism is an objective shared by all countries,” Spanish Health Minister Trinidad Jimenez said.


“The European Union has a harmonised model in which no one puts a price on an organ, and the WHO is making a great effort to spread this model,” she added.


Rafael Matesanz, the head of the Spain’s national transplant organisation, said efforts to curb transplant tourism “began in 2005 with the very decisive action of the World Health Organisation and the international Transplantation Society to establish laws in the countries where it does not exist.”


Dr Luc Noel, a coordinator of the WTO on the subject, said a “common front” was now emerging in the battle against the practice.


He noted that laws against the trafficking of organs had been adopted in five countries considered among the worst offenders: China, the Philippines, Pakistan, Egypt and Colombia.


In all these countries, many poor people sell their livers or kidneys to patients in rich countries in need of them.


Noel said that although organ transplant tourism continued in China, legislation passed there in 2007 had already led to the arrest of a gang of traffickers.


China’s deputy health minister Dr Huang Jiefu attended the Madrid conference to emphasize his country’s efforts in this regard.


“Since the beginning of this century, organ transplantation has become a booming health industry” in a country where “over 90 percent of the organs still come from executed prisoners,” he said.


“The trading of human organs emerged in China in an under-regulated environment, forming a tremendous profit chain that is against the principles of equality and the goal of building harmonious society in China.”


The Spanish newspaper El Pais recently reported the case of a Spaniard, Oscar Garay, who paid 135,000 euros (180,000 dollars) to receive a new liver in a hospital in the Chinese city of Tianjin in 2008.


Huang Jiefu admitted that since the 2007 law, “we still have some hospitals trading with illegal organ agencies and … selling organs to foreigners for profit”


But he noted that seven hospitals had had their licenses withdrawn for carrying out transplants.


The head of the Transplantation Society, Professor Jeremy Chapman, said “China is working very hard to stop the trade” in organs.


But he said such work must go hand in hand with efforts in the countries of origin of the “tourists”


“To stop the trade you must stop the need. There are some very successfull examples where patients used to leave the country and now they hardly do it at all. I would pick Saudi Arabia as a success story,” he said.


 

Source: SGGP