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Bearish market sees senior staffs earn less

In Uncategorized on January 8, 2011 at 4:27 am

The slumping stock market leaves brokerages struggling to pay high-class personnel including market analysts and financial experts with high salary. 

Two brokers (in front) watch listed companies’ profile on their laptop at a HCMC-based brokerage (Photo:Minh Tri)

A broker earns an average payment of around VND4-5 million (US$200) per month, a director of a HCMC-based brokerage said, adding some brokerages pay low salary with high commission to encourage their brokers to work harder.

A new graduate now working as a broker at a brokerage in HCMC, only identified as L., said his monthly salary was too low for extra personal meetings to win more clients.

“My colleagues make enough money for living even in bearish time as they have a lot of clients,” L. said.

Some brokers agree to work with low payment as they are offered rights to buy shares with special prices.

An experienced broker, who asked not to be named, said she turned down a securities firm’s offering with higher salary as the current brokerage sold her shares in profitable companies with preferential prices.

“Brokerages are hunting talented candidates for the position of managing the market analysis department,” Nguyen Thanh Hung, general director of the Sacombank Securities JSC, said.

“However, a few are willing to take that job in spite of the high salary of more than VND20 million per month. The market research and analysis department is mainly criticized for their wrong predicts when the market is volatile,”

Similarly, a big brokerage paid $2,000 for the position of market analyst and financial experts. The firm’s market reports were considered as the best at that time, with detailed information and good analysis on listed companies’ business activities.

However, the firm then incurred huge losses from the market research and analysis department, which offered reports for free. Therefore, they eventually had to chop down the salary level to less than VND10 million. 

“Brokerages are very picky in recruiting brokers these days. At the outset, they recruited around 10 brokers. But then just a few of them, who proved their competence, will stay as the brokerages will take over clients of the remainders before throwing away,” a veteran broker disclosed.

Some other securities firms offered big payment to brokers holding a large amount of clients, asking them to make a monthly or quarterly fixed revenue in return.

A brokerage, which is one of the country’s 10 biggest securities firms, recruited a large number of brokers early this year, but it had to cut nearly half of the amount in the middle of the year due to the slumping market and the high employee cost.

“We tried to recruit part-time employees for our provincial branches in an attempt to cut operational costs. But just a few were willing to join as they want full-time jobs with stable payment,” he said.

“Good directors can make proper recruitment plans as they are good at analyzing the market. Common ones usually have to deal with either an abundant number of brokers in a bullish market or a shortage of employees in bearish market,” Pham Linh, general director of the Hanoi-based VISecurities JSC, noticed.

Source: SGGP

Eurocham sees investment climate improvement

In Uncategorized on November 26, 2010 at 1:51 pm

Eurocham sees investment climate improvement

QĐND – Friday, November 26, 2010, 20:41 (GMT+7)

Eurocham has acknowledged Vietnam ’s progress in improving its trade and investment environment, particularly in intellectual property and administrative reform, in year-end months.

The statement was made by Alain Cany, Chairman of the European Chamber of Commerce in Vietnam (Eurocham) while launching the “White Book of Trade/Investment Issues and Recommendations” in Hanoi on Nov. 25.

The White Book, the third edition, will serve as a reference for the Vietnamese Government to address limitations in Vietnam ’s competitiveness such as the quality of labour force, infrastructure, energy supply, encouragement of Public-Private Partnership (PPP), and regulatory and administrative reform, said the Eurocham chairman.

As in prior editions, the White Book 2011 aims to summarise some of the key issues affecting the business operations of over 700 European business members in Vietnam . The companies are involved in pharmaceuticals, energy, telecommunications, automobile, tourism and banking sectors.

The White Book 2011 includes additional views on the important areas of PPP and nutritional foods, which drew special attention from EU businesses.

The book will serve as useful information for European companies to better understand Vietnam ’s economic development and legal and investment environment, said Jean-Jacques Bouflet, Minister-Councillor for Trade and Economics at the European Commission delegation.

The edition will also help the Vietnamese Government to clearly understand investors’ interests and aspirations, he added.

It will also support future negotiations on free trade between Vietnam and EU, he said.

Source: VNA

Source: QDND

Vietnam-Germany trade turnover sees sharp increase

In Uncategorized on November 7, 2010 at 1:20 pm

Vietnam sees a low breastfeeding rate

In Uncategorized on November 5, 2010 at 10:58 am

Vietnam sees serious gender imbalance

In Uncategorized on October 27, 2010 at 2:39 pm

Vietnam sees serious gender imbalance

QĐND – Wednesday, October 27, 2010, 20:41 (GMT+7)

Vietnam has seen an increasing imbalance of gender over the past 5 years, the United Nations Population Fund (UNFPA) in Vietnam stated at a news conference held on October 26th in Hanoi.

The gender imbalance in Vietnam with complex features is different from other nations and poses a strong impact on the country’s culture, society and economy, the UN agency said.

In terms of geography, figures, mainly based on the General Census in 2009, show that the male-female ratio is 110.5 to 100 on average and the most unbalanced rate is found in the Red River Delta, where every 115 male children out of 100 female ones are born, while the rate is the most balanced in Central Highlands. 

In terms of education and economic status, better educated and richer people tend to have more sons.

UNFPA suggests that Vietnam should line out long-run policies and take appropriate measures to change people’s gender attitude.

Source: HNM

Translated by Thu Nguyen

Source: QDND

Foreign tourists to Hanoi sees sharp increase

In Uncategorized on August 1, 2010 at 7:22 pm

Foreign tourists to Hanoi sees sharp increase

QĐND – Sunday, August 01, 2010, 21:5 (GMT+7)

PANO – According to latest statistics from the Hanoi Department of Culture, Sports and Tourism, the city has received 551,600 international tourists from the beginning of this year up to now, a year-on-year increase of 12%.

Germany was the leading nation in the number of visitors to Hanoi with 104,900, a four-fold increase in comparison with the same period last year, followed by China with nearly 76,600, up 32%, France with 59,100, up 32% and Japan with 50,900, up 20%.

One of the reasons that led to the increase of foreign visitors to Hanoi was the launching of various tourism activities to celebrate the 1,000th anniversary of Thang Long-Hanoi such as the movements titled “Hanoians welcome friends” and “the Green Tourism Year”.

Translated by Vu Hung

Source: QDND

Tourism sees big growth this year

In Uncategorized on July 29, 2010 at 3:19 pm

Tourism sees big growth this year

QĐND – Thursday, July 29, 2010, 20:39 (GMT+7)

Vietnam welcomed around 410,000 foreign tourists in July, bringing the total number of foreign visitors to the nation in the first seven months of the country to more than 2.9 million, a year-on-year rise of almost 35 percent.

The Vietnam National Administration of Tourism said the number of foreigners coming to Vietnam for work increased by 46 percent, followed by those for vacation, up by more than 44 percent.

The number of foreign tourists from China recorded an impressive growth of 95.4 percent; followed by Cambodia (up 93 percent), Thailand (32 percent) and the Republic of Korea (RoK) (31 percent).

HCM City took the lead in attracting foreign tourists in the first seven months of the year, with over 1.6 million arrivals, a rise of 13 percent from last year.

Experts say the increase in foreign holidaymakers to Vietnam was attributable to the world’s economic recovery that helped boost tourism demand.

Vietnam has organized tourism promotion programmes and cultural exchanges in China, Japan, the RoK and Cambodia in addition to road shows in Australia, Norway and West European countries.

The country is expected to receive 4.5-4.6 million foreign tourists this year, a year-on-year rise of more than 17 percent.

Source: VNA

Source: QDND

Tourism sector sees big increases

In Uncategorized on July 29, 2010 at 11:19 am

Vietnam welcomed around 410,000 foreign tourists in July, bringing the total number of foreign visitors to the nation in the first seven months of the country to more than 2.9 million, a year-on-year rise of almost 35 percent.

A volunteer (R) of the Tourist Information Center helps foreign visitors cross a street in the heart of HCM City. (Photo: KK)

The Vietnam National Administration of Tourism said the number of foreigners coming to Vietnam for work increased by 46 percent, followed by those for vacation, up by more than 44 percent.

The number of foreign tourists from China recorded an impressive growth of 95.4 percent; followed by Cambodia, up 93 percent, Thailand, up 32 percent and the Republic of Korea, up over 31 percent.

HCM City was the leading locality in attracting foreign tourists in the first seven months with over 1.6 million, a year-on-year rise of 13 percent.

The increase in foreign holiday makers to Vietnam was attributable to the world’s economic recovery that helped boost tourism demand, said experts.

Vietnam has organised tourism promotion programmes and cultural exchanges in China, Japan, Korea and Cambodia in addition to roadshows in Australia, Norway and West European countries, they added.

The nation has targeted 4.5-4.6 million foreign tourists this year, a year-on-year increase of more than 17 percent.

Travel agencies will continue with tourism promotion and sales discount programmes in August and September in a number of key tourism cities and provinces.

Hanoi plans to organise tours to a number of ancient Vietnamese capitals, museums and homestays to attract more tourists to the city on the celebrations of its 1,000th birthday.

Source: SGGP

Airbus sees no change to state support for A350: report

In Uncategorized on July 2, 2010 at 2:22 pm

PARIS, July 2, 2010 (AFP) – European aerospace giant Airbus will “take into account” a WTO ruling that it had received illegal state support but this will not affect aid for its new A350 model, a report said on Friday.

The Financial Times quoted the chief executive of Airbus’s mother company EADS, Louis Gallois, as saying France, Germany and Britain had nearly finished negotiations to help fund the long-haul A350, set to rival Boeing’s 787.

He said this should not be affected by a World Trade Organization report on Wednesday which said some European state subsidies to Airbus for its A380 superjumbo were illegal.

“We certainly have to take into account what the WTO is saying but so far knowing the conditions of the future probable support for the A350, I don’t see any reason to change this,” the newspaper quoted Gallois as saying.

The WTO ruling followed a six-year dispute with Airbus’s US rival Boeing, which had complained the subsidies were unfair.

Source: SGGP

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