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Factory Layoffs Afoot

Posted byNguyen Ayi



By Joe Fotalattee

According to Ho Chi Minh City Social Insurance statistics, businesses in the city reported a decrease of more than 34,000 people in the first two months of the year. More than 16,300 people applied for unemployment benefits during this time, according to data from the City Employment Service Center. More than 500,000 people are anticipated to need to find employment in 2023.

The number of people enrolled in social insurance will decline at the start of the year, according to Mr. Tran Dung Ha, Deputy Director of Ho Chi Minh City Social Insurance, because workers returning to their hometowns did not stay in the city. But this year, there are more factors influencing the state of the global economy. As a result, businesses face challenges and have to cut back on both labor and production. By the end of January, more than 1,300 businesses in the entire city had been dissolved, declared bankrupt, or ceased operations.

Nguyen Van Lam, the deputy director of the city’s department of labor, invalids, and social affairs, determined that the labor market in the city is still favorable. Orders have fallen, particularly in the processing sector, which includes the production of wood, footwear, and textiles. However, based on the survey, the associations predict that orders from June to July will gradually stabilize.

Phan Thi Thanh Xuan, vice president of the Vietnam Leather, Footwear and Handbag Association (Lefaso), told VnExpress that the industry as a whole employs 1.5 million people across more than 2,000 businesses. Orders in the sector are currently still down by 30%. Therefore, factories must undoubtedly cut back on labor if they want to lower costs and meet the demand for the product. When orders pick up again, this will result in a labor shortage for businesses.

Nearly 547,000 employees … Read more

Crime
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Vietnam-Laos Border Drug Smuggling Bust

Posted byNguyen Ayi

By Joe Fotalattee

On March 7, Pham Van Cuong, a 53 year-old man, was detained by Ha Tinh province Customs for illegal drug transportation, and 11kg of ice drugs and numerous other items were seized.

The Drug Crime Investigation Police Department previously identified activities of drug criminals on the Vietnam–Laos border. There are numerous ominous expressions in the Huong Son district of Ha Tinh province.

Pham Van Cuong, born in 1970, on street 9, Pho Minh ward, Duc Pho town, Quang Ngai province, was the suspect as determined by professional methods by the functional forces. He has a prior conviction for the crime of “Theft of property,” and has been evading capture for this offense for more than ten years.

Pham Van Cuong was found to be conspiring with several Laotian subjects to transport drugs from Laos, according to the Drug Crime Investigation Police Department, which gathered forces to observe and track the subject’s every move. then transported to the southern provinces for consumption after arriving in Vietnam via Ha Tinh.

NewsReal Estate Crash
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Real Estate Bailout Implemented In Phases

Posted byNguyen Ayi

By Joe Fotalattee

The Ministry of Construction said it would stop proposing a credit package of 110,000 billion VND for social housing to focus on implementing the 120,000 billion VND package agreed upon by four state-owned commercial banks.

Regarding the package of VND 120,000 billion, Mr. Dao Minh Tu, Deputy Governor of the State Bank said that the agency is directing four commercial banks to implement general roadmaps and regulations. This is a commercial loan package, so businesses and home buyers who meet the conditions will be able to borrow.

Officials of the State Bank still believe that the VND 110 trillion credit plan proposed by the Ministry of Construction is necessary for the real estate market, but the source of funding for the credit plan is a problem. 

Tu explained the difference between the mobilization rate and commercial bank loans to VnExpress. Interest hovered around 3% when the package loan rate was considered unattractive. Using this credit package, the banks had to reduce 1.5-2% of the said difference, so they would have very little reserves left. If other commercial banks participate in the future, the amount of this credit program will reach 120 trillion VND. 

Officials of the State Bank still believe that the VND 110 trillion credit plan proposed by the Ministry of Construction is necessary for the real estate market, but the source of funding for the credit plan is causing problems.

News
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Hospital Supply Shortage In Saigon

Posted byNguyen Ayi

By Joe Fotalattee

Hospitals are currently encountering many difficulties in securing equipment. The Department of Health is proposing to remove barriers by allowing online auctions and accepting machines ordered based on auction results.

Ms. Le Thien Quynh Nhu, Head of the Office of the Ministry of Health in Ho Chi Minh City, proposed improvements to the bidding and procurement of medical supplies at a press conference on March 2.

Under current regulations, the purchase of materials and equipment price is dependent on at least three tenders from other suppliers.

Hospitals in Ho Chi Minh City have about 10% of medical supplies and equipment, which many are unique or proprietary devices. Therefore, according to the bidding rules, the unit cannot receive three bids because there are only one or two manufacturers of these items.

At present, many devices such as test chemicals and high-tech medical supplies are required by law to have an import license or traffic registration certificate issued by the Ministry of Health. However, the above papers have expired since January 1st and have not been renewed.

The infrastructure of the national bidding network system has not met the access demand. If the bid package contains more than 300 items, the system can’t post the bid.

With the above difficulties, the Ministry of Health of Ho Chi Minh City proposed to allow payment of the cost of technical services in the form of ordering machines.

The department also recommends approving the form of machines placed according to the winning results of chemical and medical supplies under the provisions of the Bid Act to secure equipment for the hospital.

The Ministry of Health also proposes to issue import licenses and equipment circulation certificates quickly and provide invoices of medical facilities to publish the results of the selection of the contractor … Read more

Crime
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Won’t Need Active Shooter Drills

Posted byNguyen Ayi


A Vietnamese national is in custody after being accused by the Consulate General of The United States of using fake documents to obtain a student visa.

On February 14, the person delivered a fraudulent appointment confirmation letter and the Form I-20. The US Consulate General confirmed through technical verification, and the original data belonged to earlier visa applicants.

The person was taken into custody by the HCMC Police and the Ben Nghe Ward Police.

According to the consulate, applicants who provide false documentation risk having their entry to the US permanently barred.

New BriefsNewsReal Estate Crash
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News Briefs: Silacon, Dead Cats, Dead Mule, And Da Lat Coffee Fest

Posted byNguyen Ayi

By Joe Fotalattee

Silacon
The Saigon Silicon City project, which was based in Silicon Valley, was first put into motion in 2016. Since the project in Ho Chi Minh City has been on hold for years, the city will revoke the investment certificate.

Vo Van Hoan, a vice-chairman of Ho Chi Minh City, asked relevant departments and agencies to work with the hi-tech park to speed up the process of terminating the project and revoking the investment certificate and land.

A representative from SHTP stated that the park will work in conjunction with the municipal Department of Planning and Investment as well as the Department of Justice to complete the necessary steps to revoke the project investment certificate.


Death Sentence For Mule
A Laotian man was given a death sentence by a court in Vietnam’s central Ha Tinh Province for bringing 7,000 amphetamine pills and one kilogram of ketamine into the country. It determined that Yer Vang, 28, had transported drugs illegally. “.

On August 16, 2022, while Yer was completing the necessary formalities to enter Vietnam at the Cau Treo International Border Gate in Huong Son District, Ha Tinh border guards and customs officers checked the vehicle he was operating.

Dalat Coffee Festival

The Buon Ma Thuot Coffee Festival will take place from March 10 to 14. Customers on the street will be offered local coffee along a street of stands.

At the upcoming coffee festival, Tran Duc Nhat, deputy chairman of Buon Ma Thuot, announced that “about 300 cafés in the city will serve free coffee to locals and tourists.”.

Dead Cats

Four tonnes of frozen dead cats and 480 live cats were discovered during a police raid on a household business on Thursday in Dong Thap Province, southern Vietnam.

A 63-year-old representative of the Nguyen Huy Quyen-owned … Read more

New BriefsNews
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News Briefs Feb. 16, 2023: Expect Higher Electric Prices, Binh Duong Shines, New Football Coach

Posted byNguyen Ayi

by Joe Fotalattee

Vietnam’s State Utility EVN In The Red

Reuters is reporting Vietnam’s state utility EVN will experience losses of 64.9 trillion dong ($2.75 billion) this year.

According to a statement from the government, this will result in losses totaling 93.8 trillion dong for the nation’s leading electricity retailer over the past two years.

Vietnam earlier this month raised the average floor price for retail electricity by 13.69 percent, a move that is expected to pave the way for EVN to raise its prices.

Two Korean Businessmen Sentenced For Violating Immigration Laws

Lee Kwan Yuong, 55, and Seo Yuong Jin, 50, were found guilty of “organizing illegal entry into Vietnam” by a Da Nang court on Wednesday. ” and given a ten year jail sentence.

Two years ago they brought in 189 South Koreans to Da Nang illegally in violation of Covid safety regulations, Both have businesses and a home in the city. Lee serves as the association of South Koreans vice chairman in central Vietnam.

Between December 2020 and March 2021 Lee and Seo organized four flights to bring in South Koreans looking to enter Vietnam using their businesses. Seo took home VND85 million, while Lee made over 1 billion VND (US$42,400) from it.

Binh Duong A Top Location For Foreign Direct Investment

By the end of 2022, Binh Duong Province had attracted over 4,082 FDI projects with almost US$40 billion in registered funds, placing it second only to HCM City in terms of FDI attraction in the country.

With US$3.94 billion and US$3.14 billion, respectively, HCM City and Binh Duong were the top locations for FDI attraction in 2022.

In 2023, the southeast will still be the country’s main FDI magnet, according to the Foreign Investment Agency of the Ministry of Planning and Investment (MPI). The nation … Read more