<?xml version="1.0" encoding="utf-8"?><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom"><channel><atom:link href="http://www.movevietnam.com/rss/newsen.xml" rel="self" type="application/rss+xml" /><title>Move &amp; Buy Vietnam</title><link>http://www.movevietnam.com</link><description>The First International Market Place in Vietnam!</description><copyright>Copyright M&amp;B 2006</copyright><language>en</language><image>	<title>Move &amp; Buy Vietnam</title>	<url>http://www.movevietnam.com/design/logo-move-and-buy-vietnam.gif</url>	<link>http://www.movevietnam.com</link></image><pubDate>Fri, 12 Mar 2010 00:00:10 +0100</pubDate><item><title><![CDATA[Green holiday island]]></title><link>http://www.movevietnam.com/news-green-holiday-island-en-1128.html</link><guid>http://www.movevietnam.com/news-green-holiday-island-en-1128.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[With its beauty, wilderness and pure fresh air, Tam Islet is an attractive place to spend a holiday.

The name “Tam Islet” is familiar to many tourists – a common stopover for visitors to central Khanh Hoa Province’s Nha Trang resort town.

The island, seven kilometers southeast of Nha Trang, is being transformed into a four-star resort by Hon Tam-Bien Nha Trang Joint Stock Company. Some facilities of the US$35 million project already opened to tourists earlier this year, while the rest will be ready for business by the end of next month.

Hon Tam Resort has thatched houses amid paved paths and lush lawns. The large custom-designed swimming pool is shaded by 100-year-old trees and decorated with flowers beside a white sandy beach lined with coconut palms.

The resort boasts a 20-meter-high artificial waterfall, a 2,000-square-meter lake, four-star hotel with 224 rooms, and a spacious restaurant where visitors can enjoy sea views.

Activities currently include glass-bottom boat trips to view the mysteries of the ocean floor, surfing, coral reef diving and beach volleyball.

Soon, visitors to Hon Tam Resort will be able to visit Hoang Hoa Thon, a tiny hamlet of five 100-year-old houses relocated to the island from mainland Nha Trang Town, fly in an airship, and play golf at an 18-hole golf course.

Another feature of the Hon Tam Resort is that the wifi Internet covers the whole island.

Tam Islet is noted for its greenery with nearly 100 towering Indian oaks growing with flamboyant, willows, tamarinds, and many other kinds of trees. A variety of flowers and grass are also grown in the area and on the hillsides.

For a relaxed fun break, Hon Tam Resort is the ideal place.]]></description></item><item><title><![CDATA[No sponsors for Vietnam-Tottenham friendly]]></title><link>http://www.movevietnam.com/news-no-sponsors-for-vietnam-tottenham-friendly-en-1127.html</link><guid>http://www.movevietnam.com/news-no-sponsors-for-vietnam-tottenham-friendly-en-1127.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[The national football team will not play a friendly match with Premier English club Tottenham Hotspurs because the Vietnam Football Federation (VFF) can not find sponsors to pay the US$2-million fee, VFF said Wednesday.

Vice Chairman Le Hung Dung said the VFF had been approached by a Singaporean brokerage agency saying it wanted to take the English club to Vietnam for a friendly in May.

The $2-million fee was too steep in the context of the global economic downturn, Dung said.

Meanwhile, Dung and VFF General Secretary Tran Quoc Tuan have maintained that the only international friendly for the national team this year will be with Greece’s Olympiakos.

Tuan said the Greek club would confirm the date next week and perhaps the V-League schedule might need a little change to accommodate the match.]]></description></item><item><title><![CDATA[Da Lat scrambles to ensure water supply for holiday]]></title><link>http://www.movevietnam.com/news-da-lat-scrambles-to-ensure-water-supply-for-holiday-en-1126.html</link><guid>http://www.movevietnam.com/news-da-lat-scrambles-to-ensure-water-supply-for-holiday-en-1126.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Lam Dong authorities have asked resort town’s major water supplier to get a new plant operational by April 29 at the latest to ensure sufficient supply during the coming national holidays.

The town, in the Central Highlands province of Lam Dong, is a popular tourist spot that attracts visitors from within and outside the country.

As Da Lat is set to receive a surge of visitors from April 28th to May 3rd, tackling the chronic water shortage is a must, the Lam Dong provincial government said at a meeting with the local Water Supply Company Friday.

Da Lat is set to celebrate Vietnam’s Liberation Day, which falls on April 30th, as well as its celebration for being recognized as a grade-I city.

In Vietnam, cities and provinces have been ranked by six grades, ranging from the special grade to grade V. Hanoi and Ho Chi Minh City are now ranked as special-grade cities.

Local authorities attributed the water crunch to the fact that locals have used much of the potable water to irrigate crops, and many lakes have been running dry.

Vo Quang Tuan, director of the Lam Dong Water Supply Company, said his company has been mobilizing all available resources to resolve the water crunch in the province.

The Da Thien pumping station in the Valley of Love had been commissioned late last month, one month ahead of schedule, to churn out three million liters per day, Tuan said.

On Monday, the Truong Son pump station in Xuan Truong Commune began operations, supplying 400,000 liters per day for thirsty locals, he added.

Local authorities have also advised Da Lat residents against using tap water for irrigation purposes, saying it should be used only for daily life activities.

Around five million liters of water have been used every day for irrigating local crops, said Hoang Quoc Dung, director of the Da Lat Water Plant.

But Dung admitted it would be a tough task to tackle the water crisis in Da Lat given the soaring demand. Da Lat residents are in need of around 37 million liters of water per day while local plants and pumping stations are only capable of supplying 31 million liters, he said.

The Xuan Huong water plant had to stop operations last month because many lakes had run dry.

Local authorities are also concerned the situation will not improve until the rainy season begins next month.

Prolonged shortage

During the last 15 days, teachers at the Xuan Truong high school in the eponymous commune have had to source water from local wells and waterfalls for their daily use.

“The water supply has almost halted during the last 15 days and we have resorted to using water from the wells,” said Bui Thi Kim Lien, a commune resident.

Other 250,000 Da Lat residents are also using groundwater sources as the water supply has not been stable for the last several months.

This year the water shortage struck Da Lat in mid-February, two months earlier than in previous years.]]></description></item><item><title><![CDATA[Red Cross to host charity performances]]></title><link>http://www.movevietnam.com/news-red-cross-to-host-charity-performances-en-1125.html</link><guid>http://www.movevietnam.com/news-red-cross-to-host-charity-performances-en-1125.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[The Ho Chi Minh City Red Cross Association will hold a concert this month and a festival next month to raise funds for Agent Orange victims and underprivileged children.

The third “Khat Vong Song” (Thirst of Living) concert will hit Ben Thanh Theater on April 19, with performances by local singers, members of the Curtis King Band and Agent Orange victims.

The second “Khat Vong Song” music program, held last year, raised a total of VND2.7 billion (US$151,800) for charity.

The association will then hold a three-day fashion festival starting May 8, aiming to raise a total of VND500 million ($28,000) for Agent Orange victims and poor children.

The festival will include a fashion show and demonstrations by make-up artists and hair and nail stylists. And the event will not be without live musical performances.

Last year, the HCMC Red Cross Association mobilized some VND4 billion ($225,000) to provide Agent Orange victims with medical treatment, medicine, and vocational courses.

To donate to the Ho Chi Minh City Red Cross, contact Tran Van Tuan, head of the association’s Social Work Department at 201 Nguyen Thi Minh Khai Street, District 1, 3 925 5626 or 098 800 0141, or email banbaotro2005@yahoo.com.]]></description></item><item><title><![CDATA[Motorbike emission tests should obtain public confidence]]></title><link>http://www.movevietnam.com/news-motorbike-emission-tests-should-obtain-public-confidence-en-1124.html</link><guid>http://www.movevietnam.com/news-motorbike-emission-tests-should-obtain-public-confidence-en-1124.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Experts say the policy on testing motorbike emissions must be carried out slowly and carefully with regular monitoring of residents’ responses.

The Transport Ministry plans to enforce Euro II standards that allow a motorbike to emit a maximum of 0.05 percent sulfur concentration. Sulfur is blamed for causing acid rain and lung problems.

The Euro II standard was applied to new cars and motorbikes early last year after a two-year trial at five major cities in the country – Hanoi, Hai Phong, Da Nang, Ho Chi Minh and Can Tho.

Lecturer Nguyen Dinh Hoe from the environment department of Hanoi University of Natural Sciences said officials should consider the plan carefully before implementing it.

“From a scientific perspective, the testing is right.

“But most Vietnamese people travel by motorbikes and many depend on the bikes to make a living.

“And the oldest motorbikes that produce the worst emissions are driven by poor people.”

Hoe suggests the officials publicize the plan and conduct an opinion poll before launching a trial.

“Don’t let the plan lose intensity after a few days like the one that banned people with small chests from driving motorbikes.”

The government last October banned people having chests smaller than 72 centimeters from driving motorbikes. The ban was lifted in November after many objections from the public.

Nguyen Ngoc Sinh, chairman of Vietnam Association for Conservation of Nature and Environment, says “Testing motorbike emissions to control air pollution is a need and many countries have been doing that regularly.”

Residents are both the victims and the cause of air pollution, Sinh says.

“The success of the policy depends on the awareness of the residents and the way the officials carry it out.

Trinh Ngoc Giao, head of the ministry’s Registration Bureau, says an opinion poll on the Internet showed 57.55 percent of more than 10,500 people surveyed were in the favor of having the test conducted once a year.

Motorbikes are the main air polluter in Vietnam, he says. Besides sulfur, benzene and aromatics in the fuel also cause health problems while metal and carbon dioxide contribute to the greenhouse effect.

By applying Euro II, Vietnam can totally control motorbike emission by 2015 when the emission in large cities will be cut by 40 percent compared to 2007, Giao says.

Under the new plan, motorbikes that fail to meet the standard cannot run on the streets until they are repaired and tested again.]]></description></item><item><title><![CDATA[HCMC to host Asian Corporate Conference]]></title><link>http://www.movevietnam.com/news-hcmc-to-host-asian-corporate-conference-en-1123.html</link><guid>http://www.movevietnam.com/news-hcmc-to-host-asian-corporate-conference-en-1123.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Asia Society will hold its annual business conference in Ho Chi Minh City this year from April 22-24, reviewing the global economic downturn and opportunities for Vietnam during its global integration.

To be organized together with the Ministry of Planning and Investment and The Wall Street Journal Asia, “Redefining Asia’s Challenges and the New Role for Vietnam” expects to attract many senior government and business leaders from around the world.

It would explore the impacts of the global financial crisis on Asian economies and examine the opportunities and challenges in Vietnam’s development and its global integration, Asia Society said.

Prime Minister Nguyen Tan Dung is slated to deliver the opening keynote speech.

International speakers will include Charlene Barshefsky, former US Trade Representative; John Negroponte, former US Deputy Secretary of State; and Mah Bow Tan, Singaporean Minister for National Development.

The conference will also explore the impact of new US economic and trade policies on the region and the improvement in urban infrastructure, particularly in cities facing rapid industrialization.

Asia Society's business conferences provide a forum for executives to meet policy-makers who shape the Asia Pacific business environment.

Since 1989, the Asian Corporate Conference has attracted more than 16,000 participants from around the world.

It was last held in Vietnam in 2003 when Hanoi hosted it.]]></description></item><item><title><![CDATA[Phu My Hung names Savills sole leasing agent for new property]]></title><link>http://www.movevietnam.com/news-phu-my-hung-names-savills-sole-leasing-agent-for-new-property-en-1122.html</link><guid>http://www.movevietnam.com/news-phu-my-hung-names-savills-sole-leasing-agent-for-new-property-en-1122.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[The Phu My Hung Corporation Thursday announced its appointment of UK-based property consultant Savills as its sole leasing and management agent for The Crescent in District 7, Ho Chi Minh City.

The 150,000 square-meter development is expected to cost around US$200 million in the first phase, which will include the first serviced apartment building called Crescent 1. It will be completed in December 2009.

The $200-million second stage, to be finished by the end of 2010, will comprise Crescent 2 and 3, a shopping mall and office building.

In all, there will be 297 serviced apartments, 10,000 square meters of office space, 20,000 square meters of waterfront retail space, and a 60,000- square meter shopping mall.

Brett Ashton, managing director of Savills Vietnam, said: “The monthly rental prices at the Crescent would range from $25-80 per square meter for retail outlets and $1,800 a month for four-room serviced apartments.

“The prices for office rental will be available soon,” he said.]]></description></item><item><title><![CDATA[Gold could top $1,100: consultancy]]></title><link>http://www.movevietnam.com/news-gold-could-top-$1,100-consultancy-en-1121.html</link><guid>http://www.movevietnam.com/news-gold-could-top-$1,100-consultancy-en-1121.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Gold could rise to a record above US$1,100 an ounce in the coming months, as investors seek to guard against rising inflation, precious metals consultancy GFMS said this week.

"The consultancy believes (gold) could easily re-attain the $1,000 mark and may well push up toward and perhaps even through the $1,100 barrier," GFMS said in its annual Gold Survey published on Tuesday.

"The report singles out the fiscal and monetary policies currently being enacted, especially by the US administration, as the root cause... through their ability to generate inflationary pressures," GFMS added.

"GFMS also expect central banks to be reluctant to raise interest rates whilst the prospects for economic growth are shaky."

Gold benefits from the prospect of higher inflation because it is widely regarded as a safe-haven investment that can preserve value amid troubled economic times.

However, on Monday gold prices fell as low as $865 per ounce - a level last seen on January 23 - as the market was rattled by the prospect of the International Monetary Fund (IMF) selling some of its reserves.

But in the London Bullion Market on Wednesday, prices rose to $887 an ounce, from $879.75 an ounce late on Tuesday.

GFMS added in the report, "The consultancy... cautioned that it may well not be a straight-line rally as a summer lull or the need for inflationary pressures to build could mean sub-$900 prices in the short term."

Gold prices are currently trading below the record high points forged last year.

The metal, which is used in jewelry, dentistry and electronics, had struck a record high of $1,032.7 an ounce on March 17, 2008.]]></description></item><item><title><![CDATA[Listed firms to be audited every half year, SSC to issue circular]]></title><link>http://www.movevietnam.com/news-listed-firms-to-be-audited-every-half-year-ssc-to-issue-circular-en-1120.html</link><guid>http://www.movevietnam.com/news-listed-firms-to-be-audited-every-half-year-ssc-to-issue-circular-en-1120.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Following objections from many listed companies to a proposed quarterly audit, the securities regulator is drafting a circular making half-yearly audits compulsory.

Nguyen The Tho, head of the State Securities Commission’s Securities Issuance Department, said this at a meeting in Hanoi on Wednesday.

The firms had protested saying quarterly audits cost too much time and money.

Some enterprises, including real estate developer Vincom, are unhappy even with the half-yearly requirement though others support it.

Nguyen Quang Vinh, general director of Bao Viet Securities, said he was happy with quarterly audits since this would increase the transparency of the results and create greater investor confidence.

An executive of a listed company, who wished not to be named, said since semi-annual audits would help audit companies spread their workload over the financial year, they should not hike their fees.

The SSC has asked the Vietnam Association of Certified Public Accountants to instruct its members not to increase audit fees this year by more than 5 percent, SSC Deputy Chairman Vu Thi Kim Lien said.

There are 38 qualified auditors’ firms in the country and 358 companies listed in Ho Chi Minh City and Hanoi.

Meanwhile, Nguyen Son, head of the SSC’s market development department, said the watchdog plans to issue new guidelines this year to boost transparency of publicly traded companies’ financial results.

The companies would have to incorporate the remarks of auditors in their mid- and full-year earnings reports and spell out the use of funds raised through share sales, Son said. These should also be accessible on their websites, he said.

“We will create a format for a more detailed financial statement companies have to make public before releasing the full report.

“Companies will also be allowed to set the dates for their fiscal year that are suitable for their businesses to reduce the pressure on auditing companies.”

Stricter fines would be imposed to enforce the regulation, he warned.]]></description></item><item><title><![CDATA[Experts call for stitching up ASEAN textile-industry cooperation]]></title><link>http://www.movevietnam.com/news-experts-call-for-stitching-up-asean-textile-industry-cooperation-en-1119.html</link><guid>http://www.movevietnam.com/news-experts-call-for-stitching-up-asean-textile-industry-cooperation-en-1119.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Textile and garment businesses based in ASEAN member-countries should cooperate to overcome the global economic slump, experts have suggested.

ASEAN economies could create a bloc-wide supply chain for the industry using their advantages, they said at a meeting in Ho Chi Minh City Tuesday.

R.J. Gurley, director of the ASEAN Competitiveness Enhancement Project, said Thailand or Indonesia are strong in fabrics, yarns and other materials for the industry while Vietnam, Cambodia and Laos have professional garment makers with skilled and cheap labor.

The regional supply chain would be further facilitated with ASEAN members committing to cutting intrabloc import tariffs to zero by 2015, said Gurley, whose US-backed project aims to double the value of lightweight fabric exports among the region’s members from $17 million in 2007 to $34 million in the next five years.

David Birnbaum, a garment-industry expert with the World Bank, United Nations and World Trade Organization, said the global recession was hurting consumer demand for clothes in the Europe and US, ASEAN’s major export markets.

The bloc’s textile and garment exports fell by 2 percent last year from 2007 and would decline further this year, the ASEAN Federation of Textile Industries said in a report in February, without providing more details.

Vietnam’s textile and garment manufacturers laid off around 10,000 out of a total of 2 million workers by February, official statistics show.

ASEAN experts said despite governments’ strong support for the industry, it would only recover when demand increases in Europe and the US.

But cooperation among the bloc members would help the industry recover sooner and lay the foundation for stronger development in future.

ASEAN, or the Association of Southeast Asian Nations, groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.]]></description></item><item><title><![CDATA[Rhythms of life and death]]></title><link>http://www.movevietnam.com/news-rhythms-of-life-and-death-en-1118.html</link><guid>http://www.movevietnam.com/news-rhythms-of-life-and-death-en-1118.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[For a Muong elder, the Du Drum dance is a deeply philosophical quest.

Le Van Ban, a 59-year-old Muong elder, leads a difficult life. He has a very small rice field, a few skinny buffaloes and an old, small thatch-roofed hut on a dirt road that houses his family – wife and five children.

Hidden behind his harsh appearance is the fact that the resident of Hung Long Commune in the northern midland Phu Tho Province’s Yen Lap District is the master of a traditional art form that is deemed an intangible cultural heritage of the Muong people – the Du Drum dance.

When he was 13 years old attending a local village festival, Ban saw an old man whose hair and body were white, stripped to his waist, wearing just a loincloth, performing a drum dance along with a boy. They performed with a big drum, beating it and dancing rhythmically to its beats.

Ban was entranced. When the festival ended, he followed the performer, Ha Van Cau, and implored the old man to teach him the art.

Ban learned the drum dance skills from Cau for three years.

According to provincial folklorist Dinh Tien Phu, in the Muong language, "Du Drum" means “Beating drum for fun and entertainment.”

"The dance is performed during local festivals, performances, celebrations for longevity, and funerals," he says.

No one remembers when the art originated, just that it was a long, long time ago.

Ban recalls an old Muong legend which explains the origin of the drum dance.

"There was a Muong couple who lived happily together. The wife died suddenly after contracting a serious illness. The husband was devastated and their six-year-old son always cried and called for his mother. Feeling sorry for the little boy, that spring, the father took his son out to attend a spring festival. He bought a drum to beat and make fun for the boy. The drum provided solace to father and son and brought them even closer. When the father died, the son played the drum to see him off.”

That was how the Du Drum was born.

The actions of beating the drum, rotating and rolling it, express the feelings of the husband who misses his wife as also a father’s love for his children.

"According to our traditional customs, women do not learn or perform the drum dance," says Ban.

According to the local Muong, the drum dance manifests their dreams for a prosperous and happy life. It also expresses solidarity among neighbors and reduces the distance between the rich and the poor. The dance expresses the laborers’ aspirations for a happy future.

“Animated drum sounds see travelers off, and welcome people who come back,” says Ban. The drum dance is also performed in funerals, but with sad rhythms, he adds.

Through the passage of time with its ups and downs, the drum dance has been popularized and improved to be an indispensable cultural activity of the Muong people in the region.

Earlier, the drum dance had only one performer, says Ban. Gradually, it has become a troupe dance, with two forms: eight men performing with two big drums, or five men with a big drum and a small one.

The performers include a man who is the main dancer and main drum player, the second is the assistant dancer, the third man plays the Sona trumpet – a traditional instrument, the fourth plays castanets and the fifth person beats a small drum.

The drum is made of buffalo skin, with diameter of 30cm, and 45cm long, enough for the dancer to hold it and rotate it easily.

According to local elders, Du Drum dancers must have good strength, dexterity and stamina.

Ban is quick and strong enough to perform despite his age.

While performing, Ban who is the main dancer, stands on a sedge mat in the middle of the stage. He beats the drum as he dances, in tune with the other instruments.

The main dancer wears red clothes with a red band on his head, while the others are dressed similarly in brown.

"These musical instruments are normal, but their coordination creates sounds that capture the Muong character: passionate and fierce," says folklorist Phu.

The commune's Du Drum Dance Troupe was established in 1999 and it has performed in many local and provincial festivals. For its four or five performances a year, its members do not receive an official salary from the local authorities. They practice and perform as volunteers.

The team is the pride of the Muong community as a whole, says commune People's Committee Chairman Nguyen Van Viet.

“The team not only serves village festivals and performances in Yen Lap District, but they also perform at the festivals at Hung Kings’ Temple Complex in Phu Tho Province and other provincial festivals,” says Viet.

Ban says the Du Drum dance is an indispensable part of his life and soul.

“I’ve performed the drum dance for 46 years but each time I perform, I have more thoughts about life,” he says.

"We all want to preserve our ethnic and cultural features and values. I am still concerned because we are so busy with farming work that we have little free time to spend just for practicing."]]></description></item><item><title><![CDATA[Zen and the art of water appreciation]]></title><link>http://www.movevietnam.com/news-zen-and-the-art-of-water-appreciation-en-1117.html</link><guid>http://www.movevietnam.com/news-zen-and-the-art-of-water-appreciation-en-1117.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Back in the thirteenth century, King Tran Thai Tong (1218- 1277) repelled the Mongol invaders from the north and restored peace to the ravaged land.

His duty done, the first king of the Tran Dynasty abdicated the throne and went to live in a monastery on Yen Tu Mountain in what is now the northern province of Quang Ninh.

It was here that he founded the first distinctly Vietnamese school of Zen Buddhism: Truc Lam Yen Tu.

Nowadays, the sect has monasteries in Quang Ninh on the far north coast, Vinh Phuc also in the north and Da Lat in the Central Highlands, as well as the most recently built one in the mountains behind Hue.

Named after the mountain range looming behind it, Bach Ma Monastery stands on an island in Lake Truoi, a manmade reservoir that irrigates a lot of farmland in Thua Thien-Hue Province.

The dam wall that holds back 60 million cubic meters of water when the lake is full was completed in 1996.

Getting to the island and the 172 steps that lead up to the 2006-built monastery can only be done by boat, which can be hired along with its owner on the shore.

The boat can take you anywhere you like – it’s between you and the owner – but the best places, along with the monastery, are the forest on the lower slopes of Thanh Long Mountain and the gurgling rivulets that wrap themselves around blocks of flat-topped rocks along the shore.

You can go for a swim, have a snooze or lie on the rocks and take in the majestic scenery or ponder the greatness of King Tran Thai Tong, who seated on the throne for 33 years (1225-1258).

The fishing is good too as there’s plenty of red snapper and pomfret to cook and enjoy with some rice wine from the nearby village of Chuon.

To get there, it’s best to hire a minivan and driver in Hue Town. It costs VND600,000 (US$35) for ten people for the day.

Or you can drive the 40 kilometers yourself. Take the road to Cau Truoi (Truoi Bridge), which is 30 kilometers from Hue, cross the bridge, follow the road to Loc Hoa Commune in Phu Loc District, and you’re there.]]></description></item><item><title><![CDATA[Calisto named Zorok’s brand ambassador]]></title><link>http://www.movevietnam.com/news-calisto-named-zorok’s-brand-ambassador-en-1116.html</link><guid>http://www.movevietnam.com/news-calisto-named-zorok’s-brand-ambassador-en-1116.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[The head coach of Vietnam’s national football team, Henrique Calisto, will be a Brand Ambassador for Zorok beer under a deal signed Friday.

Zorok beer is produced by London-based SABMiller Plc, the world’s second-largest brewer.

Calisto will be featured in Zorok campaigns.

Raymond Stark, SABMiller Vietnam’s General Director, said: “We believe that Vietnamese people will love Zorok beer as much as they love Calisto. Vietnamese people are very astute and appreciate world-class quality. It’s a perfect fit.”

“The current contract is for 12 months, of course, we hope it to be longer,” he said without disclosing details of the deal’s value.

Last month, SABMiller Vietnam had bought 50 percent stake in Vietnam Dairy Products Joint Stock Co. to gain full control of Zorok beer in the market.]]></description></item><item><title><![CDATA[Cultural exchanges strengthen Vietnam-Japan ties: president]]></title><link>http://www.movevietnam.com/news-cultural-exchanges-strengthen-vietnam-japan-ties-president-en-1115.html</link><guid>http://www.movevietnam.com/news-cultural-exchanges-strengthen-vietnam-japan-ties-president-en-1115.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[President Nguyen Minh Triet Friday said that besides economic cooperation, cultural exchange activities play an important role in strengthening solidarity and cooperation between Vietnam and Japan.

He was speaking while receiving the General Secretary of the Japan-Vietnam Cultural Exchange Association (JVCA), Tsutsui Toyoharu, in Hanoi Friday.

Triet said he was pleased with the development of bilateral relations in recent years, noting that they have served as the basis for settling issues arising between the two countries in an amicable manner.

He highly valued Toyoharu’s efforts in encouraging Japan’s small-and medium-sized enterprises (SMEs) to invest in Vietnam in his capacity as CEO and General Director of the Capital Partners Securities Company.

Triet affirmed that Vietnam always welcomes foreign investors, including those from Japan, and wished that Toyoharu would continue calling for further Japanese investment in the country.

The JVCA General Secretary said that his association will continue strengthening cultural exchange activities between the two countries and stressed his hope for long-term cooperation with Vietnam.

In addition to the Japanese government’s official development assistance, capital inflows from Japanese SMEs are very important for Vietnam’s development, he said.

He expressed his belief that the signing of the Economic Partnership Agreement will open new opportunities for bilateral trade and investment cooperation, laying a firm foundation for the two countries to fulfill their goal of forming a strategic partnership set by high-ranking leaders in 2006.]]></description></item><item><title><![CDATA[Vietnam says no to equitizing state-run hospitals]]></title><link>http://www.movevietnam.com/news-vietnam-says-no-to-equitizing-state-run-hospitals-en-1114.html</link><guid>http://www.movevietnam.com/news-vietnam-says-no-to-equitizing-state-run-hospitals-en-1114.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Vietnam's Communist Party said state-owned hospitals will not be privatized, effectively ending a debate of the past few years over a plan to diversify ownership of treatment facilities in the health sector.

But Vietnam encourages the private sector to join in building new hospitals run as joint-stock companies, joint ventures and private clinics, Saturday's Sai Gon Giai Phong (Liberation Saigon) daily run by the Ho Chi Minh City Communist Party chapter cited a Politburo directive as saying.

The Politburo said the government should use state budget funds, bond issuance receipts and foreign aid to upgrade state-owned hospitals and provide treatment to the poor, ethnic minorities and children below the age of 6, the daily said.

In 2007 the Health Ministry and Ho Chi Minh City government planned to allow Cho Ray Hospital to sell shares to the public but the project was stalled because of social organisations blocked it, fearing a rise in fees.

Vietnam's state-run healthcare system is straining to treat a population of 86 million that is vulnerable to a wide variety of infectious and non-infectious diseases.

The middle class that has emerged in the booming economy in recent years has used internationally-operated clinics or traveled to Singapore or Thailand for treatment of serious illnesses.

The health sector's value accounted for only 1.25 per cent of Vietnam's gross domestic product of US$87 billion (RM313 billion) in 2008, down from 1.41 per cent in 2007, government figures show.]]></description></item><item><title><![CDATA[Charitable ‘coin classroom’ up for sale]]></title><link>http://www.movevietnam.com/news-charitable-‘coin-classroom’-up-for-sale-en-1113.html</link><guid>http://www.movevietnam.com/news-charitable-‘coin-classroom’-up-for-sale-en-1113.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[A unique project made by Vietnamese students in Singapore is up for sale with proceeds going toward a kindergarten in the central province of Quang Nam.

The project is a 65x27x38 centimeter model of a classroom, made entirely of Singaporean 50-cent coins.

The act of building the model, known as One Coin One Brick, was intended to symbolize laying real bricks to build a classroom, according to students from the Vietnamese Students’ Subcommittee at the National University of Singapore (VNCNUS).

Bich Hong (R) of the Vietnamese Students’ Subcommittee at the National University of Singapore receives a certificate from the representative of Singapore Book of Records Thursday

The model is made up of 5,258 coins, totaling some S$2,629 (US$1,731), and was completed over a four-day period in late March, VNCNUS member Bich Hong said at the closing ceremony on Saturday.

The project was also noted in Singapore’s national book of records.

Previously, a group of students from Nanyang Technological University had set a national record for building a model from 3,600 coins.

The charitable project received much attention and raised S$1,521 ($1,002) more than expected, Hong added.

The next phase of the plan calls for the model to be sold to a private buyer to raise more money for the kindergarten.

The students hope someone will buy the model as a souvenir or they will have to dismantle it and exchange the coins for paper money, Hong said.

The project is a contribution to an NUS overseas community service program called Vietnam Jump, which plans to send some 15 students back to Quang Nam Province to build a music room and a medical room for a local kindergarten this May.

Anyone wishing to purchase the One Coin One Brick classroom model can contact Bich Hong at: dc.bichhong@gmail.com, or phone +65 9171 2112.]]></description></item><item><title><![CDATA[ACB to sell $619 million bonds this year]]></title><link>http://www.movevietnam.com/news-acb-to-sell-$619-million-bonds-this-year-en-1112.html</link><guid>http://www.movevietnam.com/news-acb-to-sell-$619-million-bonds-this-year-en-1112.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Vietnam Bank for Industry & Trade Securities Co., the brokerage unit of the country’s fourth-biggest lender by assets, said net profit fell 87 percent as share values slumped.

Net income at Vietinbank Securities, as the company is known, declined to VND13 billion (US$732,000) last year from VND98 billion in 2007, according to a statement released Friday.

The benchmark VN-Index, a measure of 177 companies on the Ho Chi Minh City stock exchange, slid 66 percent last year, making it the worst performer in Asia. The index gained 4.3 percent to 325.05 Friday.

“The plunge in the stock market last year severely hit our businesses,” Phan Quoc Huynh, chief executive officer of Vietinbank Securities, said Friday in a presentation ahead of an initial share sale scheduled for April 22. The brokerage expects profit to rebound to VND90 billion this year, Huynh said.

Hanoi-based Vietinbank Securities will sell around 19.2 million shares at a minimum bid of VND10,200 on April 22, the Hanoi Securities Trading Center said late last month. The brokerage plans to list on the Ho Chi Minh City bourse in June, Huynh said last month.]]></description></item><item><title><![CDATA[Bonds post best week since January on rate reductions]]></title><link>http://www.movevietnam.com/news-bonds-post-best-week-since-january-on-rate-reductions-en-1111.html</link><guid>http://www.movevietnam.com/news-bonds-post-best-week-since-january-on-rate-reductions-en-1111.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Government bonds completed their biggest weekly gain since January after the central bank reduced refinancing and discount rates to spur the economy. The dong advanced.

The State Bank of Vietnam Friday lowered its refinancing rate to 7 percent from 8 percent, and cut the discount rate to 5 percent from 6 percent, according to a statement on its website. It has cut its benchmark interest rate six times since October.

“The central bank may continue to cut its base interest rate soon,” said Tran Tri Thanh, deputy head of fixed-income trading at Hanoi-based Vietnam International Commercial Joint- Stock Bank. “That’s dragged bond yields down this week and may further trim yields.”

The yield on the benchmark five-year notes slid almost 0.1 percent this week, the most since the five days ended January 23, to 9.13 percent, according to a daily fixing price from 10 banks compiled by Bloomberg.

The dong increased almost 0.1 percent to VND17,770 versus the dollar in Hanoi Friday, compared with VND17,775 Thursday, according to prices from banks compiled by Bloomberg.

The currency fell in the so-called black market, with the exchange rate at money changers in Hanoi at VND17,940 to VND17,980, compared with VND17,860 to VND17,890 Thursday, according to telephone directory information service 1080.]]></description></item><item><title><![CDATA[Techcombank, China bank to provide cross-border services]]></title><link>http://www.movevietnam.com/news-techcombank-china-bank-to-provide-cross-border-services-en-1110.html</link><guid>http://www.movevietnam.com/news-techcombank-china-bank-to-provide-cross-border-services-en-1110.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[Industrial & Commercial Bank of China Ltd. agreed to provide cross-border banking services with Vietnam Technological & Commercial Joint-Stock Bank.

The banks will cooperate on international trade financing including issuing letters of credit for Chinese and Vietnamese companies, the Hanoi-based lender known as Techcombank said in an e-mailed statement Friday. Techcombank is partly owned by HSBC Holdings Plc.

Trade between the two countries grew to almost US$16 billion in 2007, exceeding the $15 billion that they expected to reach by 2010, according to Vietnamese government data.]]></description></item><item><title><![CDATA[State Bank cuts refinancing, discount rates; base rate to follow?]]></title><link>http://www.movevietnam.com/news-state-bank-cuts-refinancing-discount-rates;-base-rate-to-follow-en-1109.html</link><guid>http://www.movevietnam.com/news-state-bank-cuts-refinancing-discount-rates;-base-rate-to-follow-en-1109.html</guid><pubDate>Sat, 11 Apr 2009 00:00:00 +0100</pubDate><description><![CDATA[The State Bank of Vietnam lowered refinancing and discount rates to help combat a deepening economic slowdown.

The bank cut the refinancing rate to 7 percent from 8 percent and the discount rate to 5 percent from 6 percent, effective Friday, according to a statement on the central bank’s website. The bank did not give a reason for the reductions.

“This is a sign that the central bank may continue to cut its base interest rate,” Tran Chi Thanh, fixed income director of Hanoi-based Vietnam International Bank, said by phone Friday. “The reductions help ease commercial banks’ borrowings from the central bank.”

The central bank Friday kept its key base rate, which is used as a reference rate by commercial banks to set their lending rate, unchanged at 7 percent.

It has been cut from 14 percent in October to spur economic growth, which was 3.1 percent in the first quarter, the slowest pace on record. The government said on March 31 it has cut the growth target to 5 percent from 6.5 percent.

It earlier this month asked the central bank to "re-consider" its base, refinance and discount rates in light of easing inflation.

The refinancing rate is the rate at which the central bank lends the Vietnamese dong to commercial banks, while the discount rate is used to buy back banks' debt papers.

A cut in the central bank's refinancing rate will make it cheaper for commercial banks' cost of raising funds.

Bankers said the central bank also cut its interest rates on open-market 14-days loans to banks on Friday to 6.5 percent from 7.5 percent and quadrupled the daily volume of its offer on the open market to VND2 trillion (US$112.6 million).

In the interbank markets, fixings of the dong lending rates on most of short-term loans remained unchanged, although the rate on 3-month loans rose to 8.18 percent from 8.16 percent on Thursday.

More rate cuts likely, StanChart says

The State Bank will probably cut its benchmark interest rate by another 2 percent to 5 percent by the end of June to bolster growth, Standard Chartered Plc said.

While pressure to further cut rates has eased, due in part to the weakness of the Vietnamese dong, a rapid slowdown in inflation points to lower lending rates, wrote Tai Hui, head of Southeast Asian economic research at Standard Chartered.

“Further cuts are on the cards,” Singapore-based Hui wrote in a note dated Friday. “There is room for the central bank to cut the base rate further. The government has commented that the base rate should be reduced further as inflation slows.”

Vietnam’s annual inflation rate has fallen to 11.3 percent in March from 28.3 percent in August 2008. The International Monetary Fund forecasts that inflation will ease to 6 percent by the end of the year, while Standard Chartered says the rate may drop into the “low single digits.”

Policy unleashed?

“The central bank has room to unleash monetary policy given the expected declines in prices, and we expect some moves here soon, although the tightly controlled exchange rate makes these adjustments complicated,” Vietnam Property Fund Ltd. said in a note sent Friday.

Vietnam will need to rely on measures such as interest-rate reductions to reach its revised growth target, according to Hui. Standard Chartered forecasts a 4.2 percent economic expansion this year. Vietnamese monetary authorities would probably also use a weaker currency as part of its bid to reach 5 percent growth, he said in his note.

“The authorities have resorted to de facto depreciation of the Vietnamese dong in recent months in the face of weakening Asian currencies,” Hui wrote. “We expect more of the same to take place for the rest of the year, albeit in an orderly manner.”

Prime Minister Nguyen Tan Dung believes that interest rates should be in line with an inflation rate of about 6 percent, the Government Office said last week.

An inflation rate of 6 percent implies that the central bank’s benchmark rate may be cut as low as about 4.5 percent, to ensure that commercial bank deposit rates would be positive, said Lawrence Wolfe, director of business development at DongA Securities Co., in an interview last week.]]></description></item><item><title><![CDATA[Iran and U.S. set to clash over troops at Afghan talks]]></title><link>http://www.movevietnam.com/news-iran-and-u-s--set-to-clash-over-troops-at-afghan-talks-en-1088.html</link><guid>http://www.movevietnam.com/news-iran-and-u-s--set-to-clash-over-troops-at-afghan-talks-en-1088.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[Iran rejected the presence of foreign troops in Afghanistan, apparently putting it sharply at odds with Washington before Tuesday's first major conference on Kabul since President Barack Obama unveiled his strategy.

US Secretary of State Hillary Clinton is hoping to win support at the 90-nation conference for greater military involvement along with increased economic development and army and police training to defeat al Qaeda and Taliban insurgents.

"The presence of foreign troops cannot bring peace and stability for Afghanistan," Iranian Deputy Foreign Minister Mohammad Mehdi Akhoundzade was quoted as saying in The Hague on Monday by Iran's official IRNA news agency.

"It encourages radicalism," he said, adding that a regional solution was needed.

"This policy (the Western countries) decide for the Afghan nation and for the Afghan officials does not work out any more."

Obama came to office offering a new engagement with Iran, ending decades of official U.S. hostility toward the Islamic Republic. Iran has welcomed Obama's overtures but says it wants to see changes in policy rather than words.

More than 70,000 U.S. and NATO troops are in Afghanistan battling a growing insurgency by the Sunni Islamist Taliban movement, which is also spreading its influence in Pakistan through the porous mountain border between the two countries.

Since taking office in January, Obama has ordered 17,000 extra troops to Afghanistan to tackle the violence, and a further 4,000 to help train the army.

IRANIAN ROLE

Clinton, who says she has no plans for direct talks with Iranian officials at the conference, said she wanted Iran's help on border security and fighting drugs in Afghanistan.

Iran had been cooperative after the 2001 U.S.-led invasion of Afghanistan to oust the then Taliban government, she said.

Richard Holbrooke, U.S. special representative for Afghanistan and Pakistan, said Iran's presence at the conference was a logical part of efforts to produce peace for Afghans.

"How can you talk about Afghanistan and exclude one of the countries that's a bordering, neighboring state?' he told reporters in The Hague. "The presence of Iran here is obvious."

NATO Secretary-General Jaap de Hoop Scheffer said he expected international forces to have to stay in Afghanistan "for the foreseeable future" and that the new U.S. strategy was realistic.

Clinton announced $40 million in new U.S. aid for a U.N. fund to prepare for Afghanistan's election in August, and an effort to encourage other nations at the conference to provide assistance.

"We do want to encourage the participants to begin thinking hard about what their contributions will be," she said.

Some European nations have been reluctant to send troops to Afghanistan but are expected to help in other ways.]]></description></item><item><title><![CDATA[New program promotes student-entrepreneur interaction]]></title><link>http://www.movevietnam.com/news-new-program-promotes-student-entrepreneur-interaction-en-1087.html</link><guid>http://www.movevietnam.com/news-new-program-promotes-student-entrepreneur-interaction-en-1087.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[The 2009 Career Commencement Program organized by the Vietnam Enterpreneur Forum newspaper and Vietnam Chamber of Commerce and Industry (VCCI) opened here Monday.

Upgraded from a students’ contest last year, the program will begin this year to implement many activities including: providing consulting services; setting up meetings between students and successful businessmen; establishing a transaction floor for ideas; and organizing a fair for creative business ideas.

The Vietnam Youth Federation and Vietnam Young Entrepreneurs Organization marked the opening of the program with an activity titled “Young people travel with Vietnamese goods.”]]></description></item><item><title><![CDATA[Tigers spotted at Cat Tien National Park in central highlands]]></title><link>http://www.movevietnam.com/news-tigers-spotted-at-cat-tien-national-park-in-central-highlands-en-1086.html</link><guid>http://www.movevietnam.com/news-tigers-spotted-at-cat-tien-national-park-in-central-highlands-en-1086.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[Two tigers were spotted in a village in the Central Highlands’ Cat Tien National Park, the Lam Dong Province rangers department said Monday.

The department sent rangers to Village 3 of Tu Nghia Commune in the province’s Cat Tien District to take photos of the tigers’ footprints, following villagers’ reports.

Relevant agencies and local authorities are keeping a close watch and have warned people not to go near the forest edge at sunset or let their livestock into the area.

The officials said people can only drive the tigers away if they are confronted and that trapping is forbidden.]]></description></item><item><title><![CDATA[Obama's tough auto stance may include bankruptcy]]></title><link>http://www.movevietnam.com/news-obama-s-tough-auto-stance-may-include-bankruptcy-en-1085.html</link><guid>http://www.movevietnam.com/news-obama-s-tough-auto-stance-may-include-bankruptcy-en-1085.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[The US president ordered General Motors and Chrysler to accelerate their survival efforts and brace for possible bankruptcy, saying neither company had done enough to justify the taxpayer money they were seeking.

Barack Obama, describing the industry as a pillar of the economy, nevertheless gave GM and Chrysler a little more time and money to wring further concessions from workers, creditors and other stakeholders.

"We cannot, we must not, and we will not let our auto industry simply vanish," Obama said in White House remarks on Monday that were partly overshadowed by his decision to force out GM CEO Rick Wagoner.

U.S. stock indexes tumbled on the harsher-than-expected government stance, which could push GM and Chrysler closer to a bankruptcy court restructuring that could threaten equity holders and force deeper losses on creditors.

A committee representing GM bondholders planned to meet later on Monday to discuss a debt restructuring plan according to a source familiar with the situation.

With about $28 billion in debt to bondholders, the GM offer would translate into $2.2 billion in cash, $4.3 billion in debt and an additional stock-based payout in a recapitalized company that would all but wipe out current stockholders.

The Obama administration is giving GM 60 days to rework its survival plan. The new CEO of the biggest U.S. automaker said a court-supervised restructuring in bankruptcy might be necessary.

Chrysler's operation would be funded for the next 30 days as it works to complete an alliance with Italy's Fiat SpA, considered the No. 3 U.S. maker's best chance of surviving.

A source familiar with the negotiations said Fiat's stake in Chrysler could start as low as 20 percent.

GM had sought more than $16 billion in new aid after getting $13.4 billion in December, while Chrysler wanted $5 billion on top of $4 billion at the end of 2008.

GM shares closed 25 percent lower on Monday while stock of Ford Motor Co, which has not sought a bailout, closed down 2.8 percent. Chrysler is privately held by Cerberus Capital Management.

BANKRUPTCY OPTION

Jared Bernstein, a member of the government's autos task force, told Reuters Financial Television that a process that splits off the "bad" assets of GM or Chrysler, and sends those through a court-supervised bankruptcy, is a possibility, but U.S. officials have not determined yet to pursue that option.

"I don't think we're at that level of analysis until we see the kinds of changes and adjustments, concessions that are going to be made over the next 60 days," Bernstein said.

With U.S. auto sales near 30-year lows, Obama moved to reassure would-be car-buyers, saying the government would stand behind the warranties of GM and Chrysler. He also offered his support for a tax credit incentive of up to $5,000 to trade in older and less fuel-efficient vehicles.

The U.S. auto industry, including cash-strapped dealers and suppliers, has cut 400,000 jobs over the past year while losing billions of dollars.

Deutsche Bank economist Joseph LaVorgna said in a note on Monday that a GM and Chrysler bankruptcy could eliminate a million of the roughly 3 million auto sector jobs.

"As we have long feared, a bankruptcy -- even a controlled one -- would put downward pressure on production, further upward pressure on the unemployment rate and likely negatively impact consumer confidence," LaVorgna said.

PLANS REJECTED

Obama's auto task force rejected the turnaround plans submitted by GM and Chrysler following their December bailout.

"While Chrysler and GM are very different companies with very different paths forward, both need a fresh start to implement the restructuring plans they develop. That may mean using our bankruptcy code as a mechanism to help them restructure quickly and emerge stronger," Obama said.

The Obama administration did not say how much working capital the government would extend to GM and Chrysler over the coming weeks, but GM has said it needs $2 billion for April.

The U.S. government team raced to make the auto announcement before Obama heads to Europe for eight days of meetings surrounding the G20 conference.

Separately, Canada said plans set out by the Canadian branches of GM and Chrysler did not go far enough to make them viable, but it offered $3.2 billion in bridge loans to tide the companies over while they restructure.

Chrysler said on Monday it had reached agreement on a framework for an alliance with Fiat.

The next step for Chrysler is trying to reach cost-saving deals with creditors and the United Auto Workers (UAW), which could yield a $6 billion government investment if all restructuring and alliance pieces fall into place.

Fiat Chief Executive Sergio Marchionne said the talks with the Obama administration have been "tough but fair" and a deal will make Chrysler stronger and preserve U.S. jobs.

NEW GM CEO

GM's new chief executive, Fritz Henderson said the company would address elusive concession agreements with bondholders and the UAW, conditions crucial elements of its 60-day window extended by the government to prove viability.

"Our strong preference is to complete this restructuring out of court," Henderson said. "However, GM will take whatever steps are necessary to successfully restructure the company, which could include a court-supervised process."

Wagoner and GM's board had long argued that bankruptcy by any of the major automakers would threaten thousands of jobs, including suppliers, and could lead to a GM liquidation.

Wagoner, who had presided over the company's rapid decline in the past five years and had run the automaker since 2000, was forced out at the request of the Obama auto task force, headed by former investment banker Steve Rattner. A majority of GM's board will also be replaced.

Europe's No. 2 carmaker by sales, PSA Peugeot Citroen, ousted CEO Christian Streiff on Sunday, replacing him with former Corus head Philippe Varin from June 1. PSA Peugeot Citroen shares fell 7.7 percent in Europe. ]]></description></item><item><title><![CDATA[HCMC bus accident kills groom-to-be]]></title><link>http://www.movevietnam.com/news-hcmc-bus-accident-kills-groom-to-be-en-1084.html</link><guid>http://www.movevietnam.com/news-hcmc-bus-accident-kills-groom-to-be-en-1084.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[A 28-year-old man was killed Monday in Ho Chi Minh City after colliding with a public bus and a truck.

Le Cong Binh, who was engaged to be married this Sunday, was reportedly driving his motorbike near Tam Binh wholesale market in Thu Duc District when he swerved to avoid a Rang Dong Cooperative bus.

Witnesses say the bus driver, 47- year-old Nguyen Van Phuoc, made a sharp right turn toward a bus stop. When Binh slowed down to avoid the bus, he ran into a truck from behind and then hit the bus before being thrown to the ground.

According to police, Binh was found carrying a stack of his wedding invitations.

Police are investigating the cause of the accident.

Last Thursday, another HCMC bus made a wrong turn at a roundabout in District 8, killing three people on a motorbike – a father, his daughter and his nephew. The 12-year-old girl died in hospital the next day.

HCMC public buses last year caused 38 traffic accidents that killed 38 people, the city road traffic police reported earlier this month.

Of those cases, 15 occurred after buses had encroached upon lanes reserved for two-wheeled vehicles.]]></description></item><item><title><![CDATA[Bookworm haven]]></title><link>http://www.movevietnam.com/news-bookworm-haven-en-1083.html</link><guid>http://www.movevietnam.com/news-bookworm-haven-en-1083.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[Bookazine is a small bookstore in Ho Chi Minh City with a big collection that prides itself on being like no other.

It offers a trip into the past with an eclectic collection including antique books on Indochinese subjects; a large variety of dusty secondhand paperbacks (that may include a classic you have always meant to read); beautiful old maps and an assortment of other interesting things. The shop also stocks postcards, posters, dictionaries, black-and-white photographs, old maps and other pre-digital-era media curiosities about Vietnam.

In fact, once you enter the shop at 28 Dong Khoi Street in District 1, you are charmed into embarking on a treasure hunt. It is also easy to get lost in the reams of yellow-brown pages.

For rarer works, take a deep breath and start digging into the unfamiliar assortment of old pictures tracing the nation’s colonial history and rustic works from the 19th century. The owner, Hoang Xuan Tho, is an added attraction as he holds forth helpfully on past experiences and shows you his own precious collection.

“Mine is like no other. It is a witness to time. I spent most of my life finding these rare things, in the attic of colonial houses, and from friends,” he says as he shows visitors the very first hand-written translation of “Fables by La Fontaine.”

The bookstore also features a good selection of books on photography, arts and science, apart from newspapers and magazines. This is a treasure trove of new and antique copies of international magazines like National Geographic, Newsweek, Time and the Economist. Other daily newspapers in English, French and even German are on sale.

“I’ve got many expats dropping by for their Herald Tribune or Le Monde. Many of them are long-time regulars and we’ve become friends,” says Tho. “This is not simply a shop selling publications, but a place for book enthusiasts, whatever their background, to come and enjoy the world of culture.”]]></description></item><item><title><![CDATA[Living with gold in Vietnam]]></title><link>http://www.movevietnam.com/news-living-with-gold-in-vietnam-en-1082.html</link><guid>http://www.movevietnam.com/news-living-with-gold-in-vietnam-en-1082.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[Second and last installment: gold trading tactics

Gold’s volatility forces diehard traders of the yellow metal to spend almost the entire day glued to their computer screens to make sure they catch every twist and turn.

Vietnam’s gold exchanges track gold prices at the Tokyo Commodity Exchange, which is open from 7 a.m. to 2 p.m., the London Bullion Market Association, open from 1:30 p.m. to 10:30 p.m., and Comex in New York, open from 7:30 p.m. to 12:30 a.m. (local time).

Daily trading at Vietnam’s gold exchanges starts at 8 a.m. and goes until 11 p.m., with an hour off at noon.

One tactic tried by many traders is to keep gold in their accounts overnight, hoping for a sharp rise in price by the next morning. It’s a very risky gamble.

“There was one time when I held a thousand taels overnight (a tael is roughly 1.2 troy oz). I couldn’t sleep a wink that night. Anyway, I was lucky that time and made VND240 million (US$13,500),” recalled Quang, a regular at the VGB gold exchange in Ho Chi Minh City.

But then he owned up to losing tens of millions of dong when he tried the same tactic on another occasion.

One of Quang’s fellow traders, who asked not to be named, said he had lost more than VND1 billion ($56,480) in one night when the gold price plunged without warning.

Huynh Trung Khanh, vice chairman of the Vietnam Gold Business Association and a consultant to the World Gold Council, warns that trading gold in Vietnam is extremely risky for individuals.

The only safe way to trade gold is to take advantage of any price arbitrage between Vietnam and the big foreign commodity exchanges, but this is off limits to individual traders, Khanh said. Not so to banks.

“They can buy gold in Vietnam and sell it at exchanges in other countries when the domestic price is lower than the international price, and vice versa,” he said.

“When the local price catches up again, they stop trading gold until another chance for arbitrage comes up.

“What a Vietnamese retail investor can do, if he wants to play the arbitrage game, is take advantage of the different prices at the gold exchanges within the country,” Khanh said.

Chief executive Tran Thanh Hai of the Vietnam Gold Business Company, which operates the VGB exchange, said that even when the gold price moved against them, traders should stick to their guns.

“Say a trader sells 20 taels when the spot price is $963 per oz., expecting the price to drop. Instead, the price goes up to $975, so he should sell 40 more taels. He will still come out ahead if the price subsequently falls to $971,” Hai explained.

He also suggested another tactic; that of placing buy and sell orders at different prices. Any profit is small but it’s a relatively safe strategy.

When a trader buys a contract at a gold exchange in Vietnam, which is done in lots of 10 taels, he only puts down seven percent of the gold’s market value.

The balance is covered by an automatic loan from a participating bank, which charges interest at a rate of 4.5 percent per annum.

For example, Techcombank provides the loans at the VGB gold exchange.

If the gold price declines enough to wipe out a trader’s cash outlay, the gold in his account is automatically sold. For this reason, most traders put down 10 percent of the gold’s value to give them breathing space.

For money lying idly in a gold trading account, the annual interest rate is 3 percent.]]></description></item><item><title><![CDATA[Kiting event winds up in Vung Tau]]></title><link>http://www.movevietnam.com/news-kiting-event-winds-up-in-vung-tau-en-1081.html</link><guid>http://www.movevietnam.com/news-kiting-event-winds-up-in-vung-tau-en-1081.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[The International Kite Festival closed at Vung Tau Town’s Bien Dong Ocean Park Sunday after three days of scintillating performances.

More than 20,000 tourists visited the town last weekend to watch the 300 kites that were flown by 115 artisans from 17 nations and territories.

This is the first International Kite Festival held in Vietnam.

Many prizes were awarded in the non-competitive festival. For instance, the French team had the most strangely-shaped kite, while the Australian team had the liveliest kite]]></description></item><item><title><![CDATA[PM, former German Chancellor discuss economic crisis in Hanoi]]></title><link>http://www.movevietnam.com/news-pm-former-german-chancellor-discuss-economic-crisis-in-hanoi-en-1080.html</link><guid>http://www.movevietnam.com/news-pm-former-german-chancellor-discuss-economic-crisis-in-hanoi-en-1080.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[Prime Minister Nguyen Tan Dung and former German Chancellor Gerhard Schroeder discussed measures to deal with the global economic crisis at their meeting in Hanoi Monday.

Their talks, that included a number of cooperation projects between the two countries, are part of the former German Chancellor’s third visit to Vietnam as an economic advisor to some German and European companies.

Schroeder told Dung that he wanted to implement some German- invested projects here and promote investment opportunities to prepare for celebrations of the 35th anniversary of the two countries’ diplomatic ties.

He said he considered PM Dung’s visit to Germany last year as a milestone in the two countries’ cooperation, especially in economics.

Dung welcomed the former German Chancellor to Vietnam thanking him for his contribution to broadening bilateral friendship and ties.

He cited two-way trade of US$3.2 billion in 2008, German business investments worth about $600 million in total here, and the opening of the Vietnam-Germany University.

However, PM Dung said more economic cooperation is needed to meet the potential.

He also said he expected the former German Chancellor, as a senior advisor to some German and European economic groups, to encourage more investment in Vietnam and looked forward to the 35th anniversary of diplomatic ties in 2010.

Source: VNA]]></description></item><item><title><![CDATA[Forests liberally sacrificed for timber, farmland]]></title><link>http://www.movevietnam.com/news-forests-liberally-sacrificed-for-timber-farmland-en-1079.html</link><guid>http://www.movevietnam.com/news-forests-liberally-sacrificed-for-timber-farmland-en-1079.html</guid><pubDate>Mon, 30 Mar 2009 00:00:00 +0100</pubDate><description><![CDATA[Deep inside the Hao Nghia forest, the sounds of nature are absent.

No bird chirps, no insect buzzes, not even the sound of wind rustling the leaves can be heard.

The sounds of the forest are completely drowned in the roaring and buzzing of electric saws that are felling huge nghien trees that flourish in more than 400 hectares of limestone forest in Na Ri District’s Hao Nghia Commune in the northern province of Bac Kan.

The forest is considered the province’s treasure because of the nghien trees, whose timber is hard, heavy and fairly worm-resistant. It is suitable for making tools, vehicles, ships and furniture.

Scientifically known as Burretiodendron hsienmu, this species is also found in China, where it is called xianmu. In China, over-felling of both young and large xianmu trees have pushed it to the edge of extinction.

Guided by a Nung ethnic minority resident, Thanh Nien found four fresh stumps in an area less than 0.05 hectares, each measuring more than a meter in diameter.

The guide, Lam Truong Ngang, estimates that the biggest tree, would have weighed more than 30 cubic meters before felling.

At least 100 nghien trees in the forest have been chopped down in the past two months, says Nung, who has lived in the area for about 40 years.

Nguyen Ba Ngai, acting director of the provincial Department of Agriculture and Rural Development, admits “the forest of Hao Nghia Commune is being devastated.

“The price of nghien timber chopping-blocks sold to China has surged almost double over the past two weeks.”

A block 20 centimeters thick and around 50 centimeters in diameter can sell for VND200,000 (US$11) inside the forest and VND350,000 ($20) when brought to the main street.

“It’s hard to protect the forest then,” Ngai says ruefully.

Locals say illegal logging in the forest became rampant last November after the department allotted the Agriculture and Forestry Development Investment Company 56 hectares to gather burnt, spoilt and dry wood left behind by the loggers.

More locals have become loggers since then, fearful of losing the timber pie to the company under Vietnam Timber and Forest Products Association.

Quite a few people have lost their protective spirit, saying authorities have made it easy for the company to destroy the forest.

Ngai rejects this. “Our supervisors can guarantee that the company doesn’t abuse the permit,” he says.

Last February, Na Ri District administration appointed a team of six officials of the Hao Nghia Commune to take turns to oversee 100 workers and 20 electric saws deployed by the company at all times.

The supervisors were supposed to work independently, but they have received VND4.5 million ($254) a month from the company from November to February. Head of the team, Hoang Khai Chien, who is also chairman of the commune’s People’s Committee, says he did this work only on the weekends.

He adds that the team only signed written receipts for being paid as a “kind of salary for supervision.”

No labor contract exists between the parties, yet Ngai says: “There’s no mystery here.

“The supervisors cannot work for no payment, and they’re not allowed to get paid from the state budget.”

The team has given the company a clean chit while the provincial Forest Management agency recently found more than four cubic meters of nghien timber in the company area and more than 38 cubic meters just outside, all newly felled.

Farmland invasion

In the Central Highlands province of Dak Lak, many hectares of forests have been, and are being cleared for use as farmland for growing cash crops like coffee, cashews and pepper.

The impacts of forest loss have been obvious - severe droughts, floods and the loss of groundwater.

Droughts every year for the past 12 years have caused losses of more than VND8 trillion ($451.6 million) for local farmers, while floods in the same period have killed 127 people, damaged houses, orchards and fields worth some VND1.4 trillion ($79 million), according to the provincial agency responsible for disaster mitigation and flood and storm prevention.

Yet the flow of immigrants is unchecked, and they continue to replace forests with farmland.

Nguyen Dai Nguong, director of the provincial weather bureau, says immigrants first destroy the forests for farmland, which are in turn damaged by droughts and floods caused by deforestation.

The rapid loss of forests over the past 10 years has loosened the soil and caused rainwater to flow straight into the rivers and lakes instead of recharging the groundwater, he says. This also robs the area of its topsoil, which can have disastrous implications for agriculture in the long run.

Le Cuoc of the provincial Forest Management agency says the coverage of forests in Dak Lak has dropped to 45.8 percent from 70 percent 20 years ago.

Districts that grow a lot of coffee are also the ones that have small coverage of forests, Cuoc says. Coffee has taken over more than 170,000 hectares of forestland.

The province’s capital city Buon Ma Thuot used to be surrounded with thousands of hectares of forests. “Wild animals wandered into the city sometimes,” he says.

But now, the city only has 551 hectares left, covering 1.5 percent of the area. Of these, less than a tenth is natural forest.]]></description></item></channel></rss>