VietNamNet Bridge - Although we have advocated equitization of state-owned enterprises (SOEs) and have a Securities Law, independent expert Nguyen Gia Hao still worries about losing state money in auction of public assets. Several weeks ago, a businessman, through acquaintances, met independent economic expert Pham Chi Lan to ask for her comments on the draft Auction Law. Lan refused and recommended that he talk to her husband - independent economist Nguyen Gia Hao, a former advisor of the late Prime Minister Vo Van Kiet. Unlike Lan, who specializes in macroeconomics, Hao specializes in consultation to businesses. Hao spent four days to study the draft Auction Law, which consists of 81 articles. A step forward to a market economy Hao insisted that with the Auction Law, Vietnam has made the next step into the market economy, in terms of the law, under which the state is only responsible for management, not doing business. The previous step was the equitization of SOEs, through the … [Read more...] about Will the state lose money in the auction of state assets?
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The dreamy beauty of a coral reef in Southeast Asia has been partially damaged by a massive, 4,290-ton cruise ship called the Caledonian Sky. On Saturday, the ship crashed into a popular diving site called Crossover Reef, which holds some of the most biodiverse coral reefs in the world, located in West Papua province, environmental news outlet Mongabay reports. It reportedly managed to smash some 17,000 square feet of coral in an area previously pristine enough to be considered as a UNESCO World Heritage Site, and it's expected it'll take nearly 10 years for a full recovery from the incident. Now local officials want the British-owned cruise ship company to pay for the damage. The Caledonian Sky — operated by British tourism company Noble Caledonia — found itself caught in a low tide before plowing into the reefs located along the Indonesian island chain of Raja Ampat. From there, a boat was brought in to help refloat the cruise ship, which actually just made things … [Read more...] about Cruise ship crashes into one of the most biodiverse coral reefs in the world
VietNamNet Bridge – Among the richest entrepreneurs in the early 20th century were the owner of Co Ba (Ms. Ba) soap brand, the king of waterway transport Mr. Bach Thai Buoi, the ‘ancestor’ of the paint industry Ms. Nguyen Son Ha. Entrepreneur Truong Van Ben One of the most famous businesspeople in Vietnam in the 1930s was Mr. Truong Van Ben, the owner of Ms. Ba soap brand. At that time, Ms. Ba soap cakes with the picture of a beautiful Vietnamese woman with a kind face was famous across the country and this product even beat foreign brands. To day, Ms. Ba soap brand is still widely remembered by Saigonese and is sold at the Co Op Mart supermarket chain. Mr. Truong Van Ben (1883 - 1956) was born in Cho Lon, Saigon. At age 25, he established a coconut oil factory and then a rice mill, a small-sized rubber plantation and a company to reclaim land in Dong Thap Muoi. In the … [Read more...] about The wealthiest Vietnamese in the early 20th century
VietNamNet Bridge - Truong Ngoc Anh, Le Quyen, My Tam, Dam Vinh Hung, Tang Thanh Ha are on the list of Vietnamese artists who own large assets. Actress Truong Ngoc Anh. This is not an official ranking because the assets of Vietnamese artists is a sensitive topic. No one wants to be considered bragging. These people are considered rich based on four factors: the personal income tax they pay every year, the pay for their shows, their own business and their fixed assets (publicly). Actress Truong Ngoc Anh is rich not by the pay for her cast, but income from her business and advertising contracts. In 2013, she is the brand ambassador of Oriflame cosmetics, with remuneration of hundreds of thousands of dollars. She also attended a lot of events, with remuneration of about $5,000/event and other advertising activities. Truong Ngoc Anh's largest income comes from real estate and restaurants. She … [Read more...] about The richest entertainers in Vietnam
VietNamNet Bridge – Among organizations and individuals of Vietnam named in the Panama Papers are wellknown businesswoman Nguyen Thi Phuong Thao, Chair of Sovico Holdings (the parent firm of private airline VietJet), Vice chair of the HCM City Development Bank and Chairman of SSI Securities Company Nguyen Duy Hung. How did they explain this inclusion on the list? Ms. Nguyen Thi Phuong Thao, Chair of Sovico Holdings and CEO of VietJet Air. Thao is related to Ariana Hotels & Resort International, based in the Virgin Islands. Ariana Hotels & Resort International is also the former owner of Furama Resort – the property that was acquired by Thao's Sovico Holdings in 2005. Replying to local newspapers, Thao said: "We returned home to invest in Vietnam, acquired Furama Resort and these were normal operations. In 2005, we were an international company, which invest in Vietnam." "Sovico won the international bid to acquire capital contribution from all companies of the … [Read more...] about What do Vietnamese entrepreneurs named in the Panama Papers say?