Nguyen Ayi

Finance
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State Backs Local Banks, Curbs Inflation, And Ensures Supply For Tet

Posted byNguyen Ayi

State Backs Local Banks, Curbs Inflation, And Ensures Supply For Tet

By Joe Fotalattee

To maintain the ability of credit institutions to make payments, particularly at the end of the year when demand for funds frequently peaks, the State Bank of Vietnam is willing to offer liquidity, according to its deputy governor, Dao Minh Tu.

According to Vietnam News, Tu stated at a meeting last week that “the central bank will ensure liquidity for all commercial banks, including small ones, under all circumstances.”.

According to him, the current monetary policy ensures capital availability, liquidity, and inflation control for this year and the following year. Credit institutions must adhere to operational safety indicators adhere to the SBV’s requirements, per Tu’s orders.

After recent interest rate hikes caused a credit crunch in the real estate and financial markets, the central bank increased the credit growth cap for banks by two percentage points from its earlier target of 14 percent. The policy change allows banks to lend VN240 trillion more (US$9.7 billion) to businesses.

To support businesses, sixteen commercial banks have agreed to cut interest rates by 0–3 percentage points annually, or about VN3–5 trillion. Agribank, Vietcombank, VietinBank, and BIDV were among them, as were a few smaller institutions like SHB, HDBank, and SeABank.

Authorities have created intricate plans to guarantee goods for cities with dense populations and high consumer demand, like Hanoi, Danang, and Ho Chi Minh City.

The Hanoi Department of Industry and Trade’s acting director, Trần Thị Phương Lan, told Vietnam News that the forecast calls for an increase in shopping demand ranging from 15% to 30%, depending on the item, from the end of 2022 through the Lunar New Year in 2023.

With the help of 32 production, trading, and supply companies, Hanoi has a program to increase … Read more

CrimeNewsReal Estate Crash
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Deliberations Begin In Alibaba Real Estate Fraud Case

Posted byNguyen Ayi

By Joe Fotalattee

Nguyen Thai Luyen and 22 other defendants went on trial on December 19 in the fraud case of misappropriating property and money laundering by Alibaba Real Estate Joint Stock Company.

After the testimony of Nguyen Thai Luyen and 22 defendants, the Alibaba case trial entered a deliberations phase, according to reports from Tuoi Tre‘s Vietnamese Newspaper.

Prosecutors affirmed that the State is responsible for managing land and only the State has the authority to separate plots of land or change the purpose of use. However, many businesses have exploited the land investment policy in the past to mislead customers, sell them unqualified land, and divide plots for themselves.

Nguyen Thai Luyen consequently founded Alibaba Real Estate Joint Stock Company and 22 other legal entities in the name of family members and employees to commit fraud and appropriate property. The accused’s names appear on newly purchased agricultural land use rights, and those individuals re-authorize 22 legal entities to register as real estate businesses to draw projects themselves, color them, and divide plots in violation of the law. The defendants used a majority of the money appropriated from customers to buy agricultural land and transfer it to family members or trusted staff. Even though the Ho Chi Minh City People’s Court had finished questioning the victims and had stopped accepting new documents, victims still showed up early on December 19 to file documents.

Chairman Tran Minh Chau announced at the start of the trial that numerous defendants had submitted requests for the court to lighten their sentences. In which the defendant Nguyen Van Kien’s wife submitted evidence to lower the penalty liability and asked to convert the funds the family used to purchase Alibaba’s project into funds for corrective action.

EnvironmentNews
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Vietnam Clean Air Partnership Works To Improve Air Quality

Posted byNguyen Ayi

By Joe Fotalattee

Hoang Duong Tung, chairman of the Vietnam Clean Air Partnership, told Vietnam News Agency that significant air pollution is a major issue in many cities. Roughly a third of the days in major northern cities like Hanoi have poor or bad air quality index (AQI) levels. The AQI rose on several days to the dangerous levels of 201-300.

According to Tung, there are many causes of air pollution in Vietnam, including traffic, construction, industrial manufacturing, and customs from rural communities such as burning straw after the rice harvest. Traffic, construction projects, industrial parks, and factories increase the amount of fine dust that causes air pollution, according to Tung.

He put forth many ideas to deal with the problem of air pollution, such as tightening emission regulations for cars and motorcycles and encouraging the use of clean-fuel vehicles, electric cars, and electric motorcycles. He also suggested promoting the use of public transportation, such as buses, trams, and the metro, to lessen the number of cars on the road. To further reduce air pollution, local authorities must exercise better control over industrial production processes, construction activities, and garbage burning.

According to Nguyen Hung Thinh, deputy director of the Vietnam Environment Administration under the Ministry of Natural Resources and Environment (MONRE), it is crucial to perfect the system of policies to manage air quality to reduce air pollution.

Organizations causing excessive dust pollution should be thoroughly inspected and severely punished under Government’s Decree 08. Additionally, by 2030, they should encourage people to stop using conventional coal stoves by implementing hygienic waste treatment techniques.

Arts and CultureTravel
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The Ninth Da Lat Flower Festival

Posted byNguyen Ayi

More than 400 professional and amateur artists participated in the ninth Da Lat Flower Festival, which kicked off on December 18 evening in the same-named city in the Central Highlands province of Lam Dong.

The biennial cultural-tourism festival was first held in 2003 and honors the importance of flowers and horticulture in the resort city of the Central Highlands, promotes tourism and trade, and calls for more cooperation and investment.

This year’s festival, with the theme “Da Lat – The City of Four Flower Seasons,” carries on the tradition of showcasing the city’s culture and inhabitants while promoting Da Lat as the nation’s Flower Festival City.

 

 

CrimeNews
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Kidnapped Mount Vernon Boy Found In Vietnam

Posted byNguyen Ayi

 

By Joe Fotalattee

A 5-year-old Mount Vernon boy returned to Seattle early on Friday, accompanied by FBI agents and victims’ rights activists. After arriving, the boy met up with his natural mother.

According to police, the boy was abducted by his foster mother Amber Dinges, 60, and foster parent Amanda Dinges, 35. The two women, who are not in custody, will be the focus of the police’s attention now that ND has been located, according to police. Despite claiming that extradition and international warrant recognition are “complicated processes,” Mount Vernon police say they believe the suspects to be in Vietnam.”

The birth mother’s lawyer, Brittany Tri, said: “She said that he’s doing good, that he was excited to see her.”. Though she did mention that he is extremely tired, they are both excited, so the excitement is reciprocal. “.

Tri added that she was unaware of the boy having a passport, so she is unsure of how he managed to leave the country.

The search for the boy started in November. 28 when Child Protective Services notified Mount Vernon police that Dinges might have taken the boy with them.

Police found that Amanda Dinges had turned off her phones, left her last-known address, and left the area.

CPS informed the police that the child had not attended school since November. According to probable cause records, Dinges’ apartment had a notice of abandonment posted on the door.

A neighbor reported to police that she saw them and overheard the women telling the boy they “were leaving here. After Amber’s “awkward” response to her neighbor’s question about whether or not they were moving, the neighbor quickly tried to switch the topic of conversation.

On Nov. 21, the apartment’s managers discovered Dinges’ unit’s keys in the office, which they assumed had been … Read more

New BriefsNews
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News Briefs December 17, 2022

Posted byNguyen Ayi

 

To The Principal’s Office!
A foreign teacher in Ho Chi Minh City was fired for fighting with a security guard on the morning of December 9. The principal of Nguyen Thi Dieu High School, Duong Van Thu, confirmed the incident to the Tuoi Tre (Youth) newspaper that a foreign teacher and security guard got into a fight

The security guard N., 65, was verifying the students’ names and classes as they were leaving the school that morning, Thu explained. The security guard demanded that the schoolgirl remove her jacket, and when she refused, he started yelling at her.

The teacher did not agree with the security guard’s actions and shoved him to the ground. The school viewed it as an act of violence, and it harmed the school’s reputation. Therefore, the teacher’s contract was terminated.

International Tourism Ads
According to Nguyen Cam Tu, director of the tourism promotion center at the HCMC tourism department, a promotional video will air during the New Year’s Eve event broadcast live by CNN in Times Square. According to Tu, the action is a component of HCMC’s campaign to promote tourism to draw more foreign visitors.

The CNN website will also feature banners and videos promoting travel to HCMC. The HCMC Tourism Department will keep featuring pictures of the city on major media outlets like CNBC and Amadeus after CNN. There is no word yet on altering the current one-month visa policy in Vietnam, which strictly adheres to a specific date of entry, versus the flexible policies of other countries in the region.

Vietnam To Invest In Railway Infrastructure
The Ho Chi Minh City Department of Transport proposed funding for the expansion of several railway projects in Ho Chi Minh City and the surrounding area during a meeting with officials from the Ministry of … Read more

FinanceNewsTech
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Big Tech Pays Its Vietnam Tax Bills

Posted byNguyen Ayi

Apple, Google, Microsoft, Tik Tok, Meta (Facebook), and Netflix—account for 90% of revenue on Viet Nam’s e-business on cross-border digital platforms, handing over hundreds of millions of USD in taxes to the government. In particular, Facebook and Google each paid VND 1,748 billion and VND 979 billion.

Forty-two foreign service portals have registered, reported, and paid taxes using Vietnam’s portal over the past eight months.

They were from various nations and areas, including the U. S. Singapore, Hong Kong (China), the Netherlands, the Republic of Korea, Australia, Ireland, Lithuania, and Switzerland.

Foreign service providers contributed US$ 82 billion of the $3,444 billion in taxes collected through the portal. Vietnamese companies paid the remaining VND 1,544 billion.

In 2021, Viet Nam’s e-commerce market increased by 53% to US$ 21 billion, placing the country’s Internet economy third in Southeast Asia in terms of value.

EnvironmentNews
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15 Billion USD Investment To Help Make Vietnam’s Economy Green

Posted byNguyen Ayi

Vietnam will receive assistance from the international JETP Partnership to meet its ambitious Net Zero 2050 goal, hasten the peaking of its greenhouse gas emissions, and make the switch from dirty to clean energy.

A bold Just Energy Transition Partnership (JETP) was approved on December 14 by leaders of Vietnam and the International Partners Group, which consists of the European Union, the United Kingdom, France, Germany, the United States, Italy, Canada, Japan, Norway, and Denmark.

For the next three to five years, the JETP will mobilize an initial $15.5 billion in public and private funding to support Viet Nam’s transition to a greener economy.

A number of challenging new goals are being persued with assistance from the Partnership by Vietnam:

Shifting the year for reducing greenhouse gas emissions from 2035 to 2030.
Lowering the peak annual emissions from the power sector by up to 30%, from 240 megatons to 170 megatons, and pushing back the peaking date by five years, to 2030.
Limiting Vietnam’s coal capacity to 30.2 gigawatts rather than the 37 gigawatts currently planned.
Accelerating the use of renewables so that, instead of the current planned 36%, renewable energy must make up at least 47% of electricity generation by 2030.

By 2035, the reduction of 500 megatons (0.15 billion tonnes) of emissions will be the result of meeting these ambitious goals.

Initial financial support for the Vietnam JETP comes in the form of pledges totaling $7.75 billion from the IPG, the Asian Development Bank, the International Finance Corporation, and the International Finance Corporation alone. The Glasgow Financial Alliance for Net Zero (GFANZ) has pledged to work to mobilize and facilitate a matching $7.75 billion in private investment from a first group of private financial institutions.

Vietnam will develop and adopt the Viet Nam JETP Resource Mobilisation Plan over … Read more

CrimeNews
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“Gun Ho”- Guns And Weapons Confiscated In Danang

Posted byNguyen Ayi

 

Guns And Weapons Confiscated In Danang

by Joe Fotalattee

On the morning of December 17, The Department of Cyber Security and High-Tech Crime Prevention (Danang Public Security) discovered a group of individuals selling firearms and ammunition online.

On December 16, at 12:30, the Criminal Police Team (Police of Lien Chieu District, Da Nang) and the Cyber Security and High-Tech Crime Prevention and Control Department collaborated to conduct a surprise inspection at a residence on To Hieu Street in Da Nang’s Hoa Minh Ward.

The police arrived on the scene and found Ho Van Quan, 33, of Duy Xuyen district, Quang Nam province, and Pham Ngoc Long, 33, of Thanh Khe district, Da Nang, possessing hunting rifles, manufacturing supplies and various weapons.

There were 12 types of guns, 785 bullets, and eight cans of pepper spray, as well as tools for making hunting rifles, basic weapons, and sporting weapons.

During interrogation, the individuals admitted to renting the house above as a warehouse to store guns, gun parts, and gun accessories to customers for illegal profits.