Tan Hoang Minh won the bid in a ‘duel’ to buy the 3-12 land plot in Thu Thiem new urban area in HCM City, but finally gave up. On January 11, Tan Hoang Minh issued a press release, saying that it will send an official document to HCMC People’s Committee, Land Bank Development Center and HCMC Property Auction Service Center about its decision on unilaterally terminating the contract on the purchase of the 3-12 land plot. The contract was signed on December 17, 2021, or one working week after the auction day (December 10, 2021). During the auction four land plots were sold. This means that if Tan Hoang Minh cancels the purchase of the land, it will lose the deposit of nearly VND600 billion. A question has been raised about the ‘fate’ of the land plot, called ‘golden land’ because of its advantageous position. Some people said the land may fall into the hands of the business with the second highest bidding price at the auction. The auction session was described as … [Read more...] about What’s behind Tan Hoang Minh’s sky-high bidding price?
Heave a sigh of relief meaning
Given the severe impact of COVID-19, the National Assembly’s recent approval of a VND350 trillion (US$15 billion) economic recovery package is considered by businesses and experts as an extremely important leverage and motivation moving forward. Businesses long for the US$15 billion bailout package to be soon disbursed to support their ailing operation. Businesses expect early disbursement Luu Ngoc Nam, the owner of a firm specialising in food, industrial catering, transportation, and warehousing in Hanoi, said that his businesses has almost been exhausted because of COVID-19. But he felt more motivated upon hearing that the national legislature has just approved a VND350 trillion economic recovery package. “We are very pleased and hopeful that conditions for accessing this package will be easier. The State should create favourable conditions for businesses like us to get support in a quick and effective manner,” said Nam. Similarly, Nguyen Anh Tu, director of … [Read more...] about US$15 billion bailout package a stimulus to economic recovery
The Ministry of Agriculture and Rural Development and the Ministry of Transport recently co-hosted a conference on promoting the export of agricultural products through maritime transport as a way of devising a proper mechanism for farm exports. The event was held amid China restricting customs clearance at border gates, resulting in a backlog of agricultural products to occur in the northern provinces of Lang Son and Quang Ninh. Hoang Hong Giang, deputy head of the Maritime Administration under the Ministry of Transport, said that there are currently approximately 30 shipping firms that exploit the transportation and circulation of containers from the nation to China such as Cosco, SITC, and Yangming. According to Giang, agricultural products transported by sea must be fully documented, exported through official channels, and meet Chinese standards as a way of avoiding paying a lot of extra costs. Currently, exports to the northern neighbour by road account for 70% of trade, … [Read more...] about Proper mechanism needed to export farm produce by sea to China
Vietnam exported $3.52 billion worth of vegetables and fruits in 2021, an increase of 8.6 percent over the year before. China remains the biggest client consuming 54.5 percent of the exports. China allows Vietnam’s nine fruits, including mango, litchi, dragon fruit, water melon, bananas, rambutan, jackfruit and mangosteen, to be exported to the market through official channels. Durian, passion fruit and purple sweet potato are also expected to be allowed to enter the market in the time to come. Meanwhile, the majority of fruits and vegetables have been traded across border gates under the unofficial quota mode. The statistics from Lang Son Customs Agency show a small proportion of farm full-tax exports through Lang Son. According to the agency, the exports just account for 3 percent of total farm exports to China. Rumor has it that farm produce exported to China under the mode of unofficial quotas have low quality. Deputy Minister of Agriculture and Rural Development Tran … [Read more...] about Agriculture Ministry denies that cross-border exports are low-quality products
Australia and New Zealand dispatched surveillance flights on Monday to assess the damage in Tonga, isolated from the rest of the world due to the eruption of an underwater volcano that triggered a tsunami and blanketed the Pacific island with ash. Australian Prime Minister Scott Morrison pledged to provide support for Tonga as early as possible but said the volcano ash had hampered relief efforts. "There's been a lot of challenges there with the ash cloud and the disruption to communications and so we are working together to get as much support to Tonga as we possibly can," Morrison told radio station 2GB on Monday. Australia's Bureau of Meteorology told Reuters in an emailed statement on Monday there was "no current volcanic activity, and the volcano is not spewing ash". It said ash that had reached the Australian state of Queensland was from a previous eruption. Australia's Minister for the Pacific Zed Seselja said initial reports suggested no mass casualties and that … [Read more...] about Australia, New Zealand step up efforts to aid tsunami-hit Tonga
More than 148 million Asians were further pushed into poverty and the inequality becomes so serious Across Asia, the pandemic devastated lives and livelihoods, taking away 147 million jobs and pushing 148 million Asians into poverty. But while most Asians are worse off, the region’s billionaires grew their wealth by $1.46 trillion, leading to a staggering rise in inequality, as revealed by the new Oxfam report Rising to the Challenge. According to the report, Asia’s richest one per cent now own more wealth than the poorest 90 per cent, and the impact of COVID-19 combined with existing inequality has set back equitable development in the region by decades. Existing economic policies are rigged in the favour of the wealthy, allowing them to accumulate incredible amounts of wealth while narrowing the chances of the poorest to catch up. Vulnerable groups such as women, ethnic, and religious minorities and migrant workers were worst affected as their income shrunk and their access … [Read more...] about Permanent progressive policies to tackle Asia’s coronavirus and inequality crisis
The book gathers articles by Vietnamese and French scholars once published on the Journal of the Indochina (Photo: VietnamPlus). Hanoi (VNA) - Featuring enticing articles, a book entitled " Tet Viet Nam xua ” ( Vietnamese Lunar New Year Festival in the Past) has brought readers into a journey of the festival, called Tet in Vietnamese, through many rituals, customs, and hobbies imbued with the “Vietnamese soul”. The book, a new publication of MaiHaBooks and The Gioi Publishers, gathers articles by Vietnamese and French scholars once published on the Journal of the Indochina – the first Vietnamese-language magazine published in Hanoi from 1913 to 1919. For researchers of the pre-modern Vietnamese culture, the journal was well-known, as it was associated with many renowned Vietnamese and French writers. This was a valuable source for the study of Vietnamese history and culture. Tet in the past – lively, sophisticated, but also very… strange Illustrated by 50 Tet … [Read more...] about Vietnam’s Lunar New Year Festival through eyes of Vietnamese, French scholars