Vietnam’s special sauce

“No one knows exactly when the first jar of Vietnamese traditional tuong (soya sauce) was made but our family has produced it for four generations,” shares 83-year-old Hoang Thi Lu of Cu Da Village in Hanoi’s Thanh Oai District, a village made famous for its tuong recipe.

The dried soya bean must be firstly roasted.

Tuong sauce has been a staple condiment for Vietnamese people for centuries. However, with so many other kinds of sauce produced nowadays, tuong is gradually losing its well established place on the dinner table.

Still, there are some special dishes such as braised fish or tofu that the likes of mayonnaise and chili sauce just can’t complement as well as good old fashioned soya sauce. Made out of soya beans and rice, it is also very rich in protein and good for health.

Ban Town, in Hung Yen Province, about 25km from Hanoi, is particularly famous for its good-quality tuong. In the nineteenth century, their special sauce was even chosen to offer to the King.

According to local woman Nguyen Thi Minh Quat, owner of one of the best known Vietnamese soya sauce brand names, Minh Quat Tuong, the secret of their good sauce lies in its careful preparation.

First of all, Quat says, you have to have the highest quality soya beans.

The next ingredient, which is of equal importance, is sticky rice.

The sticky rice is set on a broad basket, covered with longan leaves and left until it gets mouldy.

The rice is soaked for a few hours and then steamed. The rice is then set on a broad basket, covered with longan leaves and left until it gets mouldy (this takes about three to four days). During this time, the soya beans are prepared.

The bean is roasted and then soaked in a jar of salty water for seven days in a cool storage area. After that, the rice mould is poured into the soya bean jar. The mixture is then crushed and dried in the sun for two to six months before it is ready to serve.

The sun is a very important factor in deciding the quality of the sauce.

The sun is a very important factor in deciding the quality of the sauce. Therefore, people usually make a new jar from March to August when the sky is clearest. When the sauce is ready, it turns a dark brown colour and has a sweet smell and taste. If people strictly follow the process, a batch of tuong can be preserved from two to three years.

The sauce is stired sometimes.

For Vietnamese people, tuong is a traditional specialty which is often associated with poor but peaceful life in their homeland. In the past, every family would have a jar of the sauce to eat all year round to accompany almost every meal. This simple sauce has even become a symbol of Viet Nam, as expressed in the the popular poem:

Anh di anh nho que nha
Nho canh rau muong, nho ca dam tuong

Translated as:

Wherever I go, I will always feel nostalgic for my home country.
 

Tuong is best served with banh duc (a kind of pan cake made from rice)

I miss the water morning-glory soup, and miss the egg-plants dipped in soya sauce.

This also explains why this traditional sauce can now be found in the US, Australia, France and more. In any country, if you can find Vietnamese people, you will be sure to find a bottle of tuong.

Developing farmsteads fashionable among Hanoi’s “big guys”

Rich people and “big guys” in Hanoi are rushing to purchase large plots of land in suburban areas to develop farmsteads. It is so cramped and congested in the inner city that rich people are searching for places in suburban areas for them to relax.

The landlords 

N.T.L, Deputy Director of a big media company in the north, related that two years ago, he purchased two hectares of forest land in Hoa Binh province at 70 million dong per hectare. Now many people are asking him to resell the land to them at 700 million dong per hectare, but L does not wish to sell.

Instead, L and his wife have decided to develop a farmstead on the land. L hires local farmers to grow trees and breed fowls and pigs. Farmers get 70 percent of the profit, while L’s family gets 30 percent.

“I know many people, who live and work in the inner city, but they also have farmsteads in the suburb areas,” said Nguyen Thu Hang, Head of the IT division of a transportation joint venture headquartered in Nhan Hoa-Nhan Chinh new urban area.

Hang related that two years ago, before the former Ha Tay province was merged into Hanoi, she purchased some thousands square meters of land in Luong Son district in Hoa Binh province. Of course, the land was dirt cheap at that time. After that, she dug a pond to breed fish and built a house. A lot of local residents asked for her permission to stay at the house and help her grow trees and breed fish.

Developing farmsteads is fashionable

On weekends, local residents in communes along the Noi Bai-Lao Cai highway in Vinh Phuc province can see a lot of cars coming from Hanoi.

Tran Van Hung, a farmer from Huong Dao Commune in Tam Duong district, shared that he sold 1080 square meters of land to a person from Hanoi at 300 million dong per 360 square meters. The buyer said that he purchased the land to develop a farmstead.

Nguyen Thang, the buyer, said that he feels happy with the purchase. “With just 900 million dong, I can have more than 1000 square meters of land,” he said.

“I think the price is reasonable, because it is just 60 kilometers away from Hanoi. I do not have to spend much money to have a place where I can relax on weekend. Meanwhile, the land price has been escalating day by day, because developing farmsteads is now a trend among office workers in Hanoi,” he continued.

In Hanoi, PNP has a reputation as a “big farmstead guy”, who many journalists know, because he owns a majority of the land in rural areas which are just 70 kilometers far from Hanoi. T related that he has been investing in the real estate sector for about five years.

Four years ago, he purchased a land plot with a hill and stream in Minh Tri commune in Soc Son district at 120,000 dong per square meter. Now the land plot is just 200 meters far from the Minh Phu golf course, and there is a road for vehicles. He sold the 3600 square meter plot sold to a businessman from Hanoi, who said he also plans to develop a farmstead.

“Any land plot located within 70 kilometers far from Hanoi that hasa price of 2-3 million dong per square meter will attract me. If the land plot has “so do” (land use right certificate), I will buy the land immediately,” T said.

He added that the demand for land in suburb areas is rising, because many famous individuals like singers or artists, are seeking to purchase land in the areas. The people choose rural areas as the place for them to live, and relax on weekend.

Source: Tien phong/ VNN

Vietnam is 61st most prosperous nation: UK

After being ranked as the most optimistic nation in the world by a Gallup poll, Vietnam is now rated the world’s 61st happiest nation according to the latest Prosperity Index recently released by a UK think tank. 

For illustration purposes only

According to the 2010 Legatum Prosperity Index Table Rankings from London-based Legatum Institute, Norway is the most prosperous while inflation-hit Zimbabwe stands bottom out of 110 surveyed economies whose combined population account for over 90 percent of the global population.

The Vietnam’s ranking represents a 16-notch increase compared to 2009 when Vietnam is 77th.

The Prosperity Index measures actual levels of wealth, life satisfaction and development, and rating the entrepreneurship and opportunity, safety and security, personal freedom, social capital, health, education and governance of the countries and areas polled.

In the Asia Pacific Region, Singapore has the highest ranking at 17th, followed by Japan at 18th and Hong Kong at 20th.

Of countries with a population over 150 million, the US came in top with a world rank of No. 10.

But overall, the most prosperous countries were in Northern Europe.

Ranking among the top 25 countries and areas in the 2010 Legatum Prosperity Index are, in declining order: Norway, Denmark, Finland, Australia, New Zealand, Sweden, Canada, Switzerland, Holland, the U.S., Ireland, Iceland, Britain, Austria, Germany, Belgium, Singapore, Japan, France, Hong Kong, Taiwan, Spain, Czech and Italy.

Just early this month, a BVA-Gallup poll found that the Vietnamese are the most optimistic about their country’s economic outlook out of 53 nations.

France is the most pessimistic nation, according to the poll that surveyed 64,203 people.

More than 70 percent of the Vietnamese people joining the survey believe that 2011 will be a year of economic prosperity for their country.

Source: Tuoitre

Businesses in a fix to apply clean technology

Many businesses are facing difficulties, particularly financial in applying clean technology.

Over the past few years, the industrial sector’s revenue has accounted for more than 70 percent of the country’s export revenue, which has significantly contributed to restructuring the national economy, balancing the structure of all economic sectors, especially foreign-invested businesses and non-State sectors.

However, experts say that changes in Vietnam’s industrial sector have only been made in quantity not quality, because it largely relies on processing and assembling while the proportion of its added value remains low and its technological standards are outdated.

According to the Ministry of Planning and Investment (MPI), Vietnam’s level of technological innovation makes up just 0.2-0.3 percent of businesses’ annual revenues while this figure in India is 5 percent and 10 percent in the Republic of Korea. The UNDP says Vietnam’s proportion of technological imports accounts for 10 percent of total import turnover while that of developed countries make up 40 percent of their total import turnover.

Poor technological investment has resulted in a huge consumption of energy resources, 1.5-2 times higher than in other countries in the region, and serious environmental damages which greatly affects the sustainability of the economic growth.

In addition, low technological value of products lowers their competitiveness.

Tran Hung, Deputy Head of the Light Industry Department says despite having applied clean technology from 1993, businesses have paid no or little attention to investment in clean technology for fear that their profits would fall. Apart from investment in the production process using clean technology, huge maintenance costs would hinder businesses’ operations, particularly in the case of small and medium-sized enterprises.

The Heavy Industry Department says it is difficult for businesses involved in heavy industry such as metallurgy, mining and engineering to invest in clean technology which involves a great deal of costs because their initial investment in production is also high, while the investment returns are gained slowly.

A representative from the Hanoi Women Association of Small and Medium Business says huge volumes of waste from textile, ceramic and cosmetic sector have adversely affected the environment. However, private businesses find it difficult to invest in financial capacity or pay no attention to clean technology, due to their limited budgets.

Pham Hong Hiep from the Institute for Industrial Strategy and Policy concludes that apart from lacking investment capital, Vietnamese businesses still lack information about the use of alternative technology and human resources. Businesses fail to abide legal regulations on environmental protection and still use outdated technologies which pollute the environment.

Sustainable development goes along with clean technology

Not using clean technology in production has raised obstacles in developing the industrial sector.

Tran Van Hung, Deputy Head of the Light Industry Department says the garment and textile sector is considered the key industry equipped with modern machines. But there are still many issues in its waste treatment as up to 50 percent of waste is released into the environment without any proper treatment. Therefore, the sector is facing difficulties in expanding production areas because of localities’ opposition.

At a recent seminar on using clean technology for the environment and sustainable development held by the Finnish Embassy in Hanoi and the Ministry of Industry and Trade, Finnish Deputy Head of Mission, Elina Poikonen said industrial development must go together with environmental protection which is a primary concern of many countries around the world.

Developing the economy sustainably should go hand in hand with environmental protection. Moreover, building “green brands” for products is the key to the easier penetration of import markets in the world. Vietnamese businesses’ improper application of technology in industrial production will reduce their competitive value and profits, and even consumers will not choose products with low technological value and which harm the environment.

To raise business awareness of environmental protection, it is essential to adopt incentive policies to provide capital and human resources-related assistance.

Finnish experts point out that using clean technology in production will not reduce businesses’ profit but instead, help them increase productivity and competitiveness of their products. This will help Vietnamese businesses overcome stringent barriers of product quality control imposed by developed countries.

Vietnam is striving to become an industrial country by 2020. Therefore, to ensure sustainability of the national economy, using clean technology together with environmental protection is a must.

Source: VOV

Coins as souvenirs

After being issued for several years, coins have been rejected from circulation. Why?

According to the SBV Governor, the issuance of VND500 and VND2000 coins aimed to meet the requirement of monetary circulation.

However, after seven years, coins have nearly disappeared from the market. Housewives have not used coins for several years because they are not accepted by traders at markets.

“Traders are willing to allow me to owe the money. They definitively don’t want to receive coins,” said Mrs. Thanh from Thanh Xuan district, Hanoi.

The author of this article purchased VND1000 of onion at Dong Tam market, Hanoi, and paid by coins but the seller didn’t accept and said: “You should keep them as souvenirs. Other sellers in this market will not accept it either. If you show them coins, they may scold you”.

Hai Ha, an office employee in Hanoi, said: “I often buy office stationery at supermarkets. Sellers sometimes gave me coins back. I didn’t receive them or changed into candies. Now nobody uses coins. Using coins is very inconvenient. Moreover, coins are very ugly because they go black and dark”.

There was a time coins were warmly welcomed in Vietnam. People bought small bags to keep coins and coins were used as New Year’s presents to kids.

By May 2005, the volume of coins in circulation accounted for one fourth of the total value of changes. To encourage the use of coins, the SBV proposed the government to reduce printing paper banknotes of small face values. Some companies installed telephone boxes using coins and vending machines in Vietnam.

However, turnover from vending machines placed in front of the Hanoi Railway Station was only VND100,000 ($55) a day so these machines gradually disappeared. Coins have been also gradually been rejected from circulation.

Tung Anh, a 7^th grader in Hanoi, said: “My parents sometimes gave me coins to put into my money box but when I broke my money box, the coins turned very black and dark. Since then my parents have not given me coins anymore”.

Experts explained that Vietnamese people are only used to paper banknotes because banknotes are small and light. Coins are easy to lose.

Admitting that the issuance of coins is ineffective, SBV Governor Nguyen Van Giau told the recent National Assembly session that the issuance of coins was the plan of his predecessor and it was approved by the government.

Giau said he carefully researched the situation and proposed that the government stops issuing new coins. However, the coins that have been issued are still valid.

Ten highlights for Vietnam in 2010

The Vietnam News Agency has selected ten highlights of Vietnam in 2010 which record the country’s development over the year.

These highlights are: 

1. Congresses of Party committees at all level were convened in preparation for the 11th National Party Congress. These were important political activities aiming to comprehensively sum up the country’s development over the past five years, and define directions and tasks for sectors and localities in the 2011-2015 period. Draft documents to be presented to the National Congress were first shown to the public for discussion and comments. 

2. Vietnam successfully completed its term as ASEAN Chair. Through the hosting of more than 100 conferences and important ASEAN political events, Vietnam proved itself a dynamic, active and responsible ASEAN Chair, diligently achieving the association’s targets for 2010. The country’s success helped strengthen solidarity and accelerate construction of the ASEAN Community, and at the same time raised the country’s prestige on the world stage. 

3. The celebrations of Thang Long-Hanoi millennium anniversary were organised solemnly. Hundreds of activities to celebrate the capital city’s 1,000 th birthday were held in and outside the country, and more than 60 projects to welcome the grand festival were inaugurated in 2010. These activities expressed the younger generations’ respect, traditional patriotism, and love of origin to predecessors who sacrificed their lives for Vietnam to become a country of peace, stability and prosperity. 

4. The economy recovered, and GDP increased by 6.7 percent in the context where the world economy was facing instability after global recession. The country saw 16 out of 21 socio-economic yearly targets fulfilled or exceeded. However, high increases in consumer price index due to complex market fluctuations affected production and people’s living standards. 

5. Two key national projects were inaugurated. On Dec. 17, the first turbine group of the 2,400 MW Son La Hydro-electric Power Plant was connected to the national grid, two years ahead of schedule. The 3 billion USD Dung Quat Oil Refinery, with a capacity of 6.5 million tonnes of products per year, or one third of domestic demand, produced 6.75 million tonnes of products, and sold more than 6.66 million tonnes of petroleum in its first year of operation. 

6. Vietnam was recognised by the United Nations as one of leaders in performing the Millennium Development Goals (MDGs). At the UN Summit to review 10 years of the implementation of MDGs in New York in September 2010, Vietnam was praised as an example in its early completion of five out of 8 MDGs, with the country expected to complete all MDGs by 2015. The two most successful goals were poverty reduction and universal education. 

7. Many of Vietnam ’s heritages won recognition of UNESCO. In 2010, Vietnam had four more UNESCO-recognised world heritages. The Thang Long Royal Citadel relic was officially recognised as a world cultural heritage, 82 doctor laureate steles in Van Mieu (Temple of Literature) in Hanoi became a historical documentary heritage in the list of UNESCO’s Global Memory of the World Programme, the Saint Giong Festival was listed as an Intangible Cultural Heritage of Humanity, and the Dong Van Stone Plateau joined the Global Network of National Geoparks. 

8. Professor Ngo Bao Chau, 38, was awarded with the Fields medal. Chau was the first Vietnamese to receive the award – comparable to a Nobel prize – for mathematicians under the age of 40. The award was the world mathematical community’s recognition of his proof of the Langlands Fundamental Lemma. 

9. Biggest ever rains and floods in 100 years hit the central region. Consecutive floods ravaged the central region in October and November, claiming 198 lives, with 35 missing and 197 injured. The total loss was estimated at over 13.5 trillion VND. 

10. The biggest ship builder, Vietnam Shipbuilding Industry Group (VINASHIN), was restructured. The group’s serious wrongdoings were dealt with and the Government decided to restructure the group in order to continue a determination to build and develop the shipbuilding industry into a spearhead industry of the maritime economy, and to carry out the Vietnam Marine Strategy.

VietNamNet/Vietnamplus

NA approves economic growth of 8 percent

The National Assembly last week approved a draft of the Seventh Socio-Economic Development Plan for 2011-2015, which sets a target for economic growth of at least 8 percent annually.

 

The agriculture and forestry sector is set to grow by 3.5 percent, equal to 23 percent of GDP; the industrial sector is set to grow by 15 percent, equal to 39 percent of GDP; and the services sector is set to grow by 6.5 percent, equal to 38 percent of GDP.

The government says that to ensure economic growth of 8 percent, it needs at least 127 billion kip or about US$15 billion to invest in various development projects. The money will come from the state budget, foreign assistance, loans and other investments from the private and state sectors.

Under the development plan, average annual revenue including that sourced from foreign assistance will cover 19 to 21 percent of GDP over the next five years, keeping the budget deficit at 3 to 5 percent per year.

In the years 2006 to 2010, economic growth stood at 7.5 to 8 percent annually, spurred on by foreign direct investment.

Despite these achievements, there were many shortcomings in socio-economic development during this period. Many development projects were delayed due to financial difficulties and weak responsibility on the part of officials. Some projects lacked sufficient monitoring and systematic and consistent assessment.

However, the government has every intention of developing the nation and reaching the Millennium Development Goals by 2015 and becoming an active member of the Asean Community by 2015.

By 2015 it is expected the population will rise from over 6 million at present to about 6.9 million people with a growth rate of 2 percent per year. It is also expected the labour force will comprise 3.26 million people in the next five years.

The National Assembly agreed that extending the supply of electricity to rural areas would boost local development as well as bring in more tourists. The five-year plan sets the target for tourist arrivals at 2.8 million people by 2015.

Currently, annual tourist numbers stand at about 2 million people despite the ongoing financial crisis and political unrest in Thailand.

The government has pledged to improve living conditions so life expectancy for men reaches 66 years by 2015 and 68 years for women.

The assembly also agreed on the need to balance environmental protection with development to ensure sustainable economic growth while accelerating poverty reduction.

The government has said it will increase forest cover to 65 percent by 2015 and to 70 percent by 2020. Forest cover has been declining for more than five decades. In 1940, forest cover stood at 70 percent, covering 17 million hectares but by 2001 this figure had dropped to 41 percent.

Source: VIR

Teachers get modest Tet bonuses

Every year during Tet employees in many companies expect high bonuses, while for teachers the bonuses are slim to none.

In the banking and finance industry Tet bonuses are often hundreds of millions in VND. But in the education sector there are no regulations guaranteeing bonuses for teachers.

Educational institutions receive an annual budget from the state. Only if a school is extremely adept at managing its spending does it have a budgetary surplus at the end of the year with which to reward teachers. Many schools, however, have none.

The country’s highest Tet bonuses for teachers exist in Ho Chi Minh City, at Nguyen Huu Huan High School. Here a teacher may receive up to VND28 million (USD1,400), followed by Nguyen Huu Tien High School, which gives around VND10 million (USD500), and Hoang Hoa Tham High School with VND14.5 million (USD725).

The lowest bonuses in the city hover at about VND700,000 (USD35).

Teachers in cities like Hanoi and Danang are also lucky to get average bonuses of between VND500,000 (USD25) and VND800,000 (USD40) each.

In the Mekong Delta region, bonuses vary based on the individual school’s financial situation. Vo Van Dung, Chief of An Giang Province’s Department of Education and Training, said average bonus for teachers of different levels will be VND400,000 (USD20), up VND150,000 (USD7.5) from last year.

Cao Van Hong, Chief of Ca Mau Province’s Department of Education and Training, said the department cannot afford annual Tet bonuses for teachers, but the local People’s Committee often offers a common bonus for all state cadres, including teachers. This year’s Tet bonus is to be VND300,000 (USD15) each, VND100,000 (USD5) higher than a year ago.

It is in the mountainous areas of the country where teachers receive the least. Dong Xuan Loi, Headmaster of Ban Lang Secondary School, Phong Tho District, Lai Chau Province, said he hasn’t received a Tet bonus in over 10 years.

Truong Kim Minh, Director of Lao Cai Province’s Department of Education and Training, shared, “Teachers in mountainous districts have never got Tet bonuses. Students in disadvantaged areas often drop out of school, despite being exempt from tuition fees. Teachers are sometimes forced to spend their own money on rice and instant noodles for the poorest students. Living conditions for teachers is difficult, on a salary ranging from VND2 million (USD100) and VND3 million (USD150).”

Hopes for state help

Mr. Minh says that if the state provided some financial support it might help with teacher recruitment and retention.

He also said that many educators in disadvantaged areas in Nghe An, Tuyen Quang and Quang Binh provinces hoped that the state would have specific policies on providing Tet bonuses for teachers, particularly those in mountainous areas.

One teacher in central Thanh Hoa province said, frankly, “The issue of Tet bonuses for teachers is discussed annually, but finally the situation has never been improved. We have no way of knowing whether or not to expect any bonus at all.”

To offer Tet bonuses for more than 1.2 million teachers in Vietnam, the state would spend a great deal of money. On the other hand, teachers play a very important role this society and its economic development.

This problem will remain, perhaps, until there is a solution from the Government.

Office rents way down in HCM

The average rent for an office in Ho Chi Minh City decreased by 9.1% last year, according to CBRE Vietnam.

Bitexco Financial Tower will provide 38,000 square metres of offices for rent.

During the fourth quarter of 2010, the rent of Grade A offices fell by 4.5% to (USD35) per square metre, including offices of the two newly-launched Vincom Centre and Bitexco Financial Tower projects, said Rudolf Hever, Associate Director of Research & CBRE Vietnam.

Over the course of the year the rent of Grade A offices declined by 13.2%, and up to 39% of these spaces have remained vacant.

The downtrend in the rent was seen in B and C grade office spaces as well. In the fourth quarter, the rent of grade B offices was down by 2.4% compared to the third, to (USD19.55) per square metre per month. Grade C offices witnessed a decline of 3.9%, leaving the monthly rent at (USD16.25) per square metre.

The whole year witnessed an 11.2% drop in rent of grade B offices, and grade C offices fell by 11.9% against the previous year.

CBRE Vietnam also forecasted that the office rent in Ho Chi Minh City will continue to be on the same downtrend as big cities in Asia, such as Shanghai and Beijing where offers a price of between (USD31) and (USD33) per square metre/month.

CBRE, however, remains optimistic about the area leased in 2010, estimated at 227,000 square metres, up 50% from 2009. Grade C offices saw the highest growth.

By mid-October 2010, the city had more than 150 office buildings at all grades, offering around one million square meters of office spaces, grade B office dominating, with a 50% market share.

Farmers grow rice in chill

In the piercing cold, thousands of farmers in central Vietnam still work very hard in the field.

 In 11 degree Celsius, Nguyen Thi Viet in Nam Dan district, Nghe An province,

covers her face with a scarf when working in the fieldher field.

Lien’s husband works as a builder far from home so she has to

struggle with a buffalo alone. In the cold weather, the buffalo sometimes doesn’t listen to Lien.

This man also ploughs his field but his cow can’t endure the chill.

Mrs. Le Thi Lan’s husband is a war invalid so she has to do the work in the field alone.

Smoking pipe feels good in cold weather.

Many farmers are trying to  grow rice in time.

Beds of rice are covered by plastic pieces.

Some children go to the field to help their parents.

Farmers hope the weather gets warm, otherwise they may lose the winter-spring crop.

The 50 richest stock millionairesses in 2010

Holding the volume of shares worth 2,340 billion dong, Pham Thu Huong has topped the list of the 50 richest women on the stock market released by VnExpress newspaper for 2010, though Huong’s stock assets’ value remains to be lower than the 2009 richest woman’s. 

Huong is now holding 17.5 million VIC (Vincom) shares and 15 million VPL (Vinpearl) shares. She is the wife of Pham Nhat Vuong who has been recognized as the richest stock millionaire in 2010.

If referring to the stock prices recorded in the last trading session of the stock market on December 31, 2010, the volume of shares held by Huong has the total value of 2,341 billion dong, just equal to 15 percent of the assets of her husband. The asset value is 300 billion dong lower than the asset value of the 2009’s richest woman, but the figure is still high enough to make Huong the richest woman in 2010. It is estimated that 3,300 woman shareholders have to expose information on the stock market. Huong’s asset value has increased by two folds if compared with 2009.

Being the richest couple in Vietnam, but Pham Nhat Vuong and Pham Thu Huong, the owners of two big groups Vincom and Vinpearl, who have caught the special attention from the public, rarely appear on local media. Vuong only attended some events as the Chair of the Vietnamese Overseas Entrepreneurs. Meanwhile, Huong has never appeared on local newspapers.

Until 2010, Huong had been known as the relating shareholder who held shares of Vincom and Vinpearl. Meanwhile, in 2010, she held VPL shares as a big shareholder.

As such, the first position in the list of 50 richest women has belonged to a person who does not manage businesses in person.

The 2009’s richest woman, Dang Thi Hoang Yen, Chair of Tan Tao Group has fallen to the second position. The volume of ITA shares Yen is holding has increased by nearly 90 percent. However, since ITA prices have decreased sharply, her asset value has decreased by 650 billion dong in comparison with 2009.

There are two women whose names have been added into the list of top five women – Nguyen Thi Nhu Loan, Chair of Quoc Cuong Gia Lai (QCG). QCG began listing its shares in mid 2010, when real estate companies wanted to seek new capital mobilization channels. However, QCG has been well known on the market, partially because of the reputation of Nguyen Quoc Cuong – the son of Loan, who is also a member of the board of directors and has been well known as a connoisseur and for his car collection.

By the end of 2010, Loan had had 1,640 billion dong worth of QCG shares, while the son had had 12 billion dong.

Nguyen Hoang Yen, the wife of the famous businessman Nguyen Dang Quang from Ma San Group, has for the first time listed her name in the top five with the total assets worth $1,633 billion dong. In 2009, Yen only ranked 12th among the richest 50 women when he had the assets worth $744.8 billion dong.

As the VN Index kept decreasing in 2010, the asset value of stock millionairesses dropped sharply. Eighteen women in the 2009’s list do not have their names in the 2010’s list. Meanwhile, 21 other women have seen the asset value decreasing due to the stock price decreases.

The total assets of the 50 richest women are worth 23,800 billion dong

What will telecom do in 2011: shake hands or continue the battle?

Experts believe that the year 2011 will witness a new stage of development in the telecom market with telecom companies shaking hands to co-exist and develop side by side instead of fiercely competing by lowering charges.

Large scale development of 3G technology has been considered as one of the most important breakthroughs in Vietnam’s telecom industry in 2010. According to Nguyen Manh Hung, Deputy General Director of the Military Telecom Company Viettel, Vietnam has built up the largest 3G infrastructure in ASEAN.

“To date, Viettel alone has set up 20,000 3G base transceiver stations nationwide. Meanwhile, Thailand still has not granted us a license for 3G services, while the Philippines and Malaysia have been developing 3G for the last many years, but the number of transceiver stations remains modest,” Hung said.

However, the development of 3G technology has pushed the telecom market into a fiercer competition in the last year. The wave of lowering charges and offering sale promotions has led to a situation in which the mobile service charges have been lowered to the levels dangerously close to production costs. This has forced the Ministry of Information and Communication to tighten the promotion activities by releasing the Circular No 11, stipulating that service providers could only slash the charges by 15 percent at maximum in 2010.

Commenting on stiff competition on the mobile telecom market in 2010, amanager of a small service provider said that the three biggest companies already hold 90 percent of the market share. Therefore, the pieces of the market left for them are very small, which explains why it is very difficult for them to attract more subscribers.

Though they have modest revenue, small service providers still have to spend money to run promotional campaigns. Therefore, they are facing financial difficulties, making them unable to continue the price slashing race. Even the three giants on the market have also suffered from the stiff competition.

The bad consequence of the stiff competition is that Vietnam’s telecom market bears signs of unsustainable development.

Deputy Minister of Information and Communication Le Nam Thang also admitted that Vietnam’s telecom has expanded considerably in the last 10 years, but there have been signs of unsustainable development. This can be seen in the decreasing figures in profit turnover, investment capital and tax payments by telecom companies to the state.

In 2011, mobile virtual network operators MVNO like Indochina Telecom, VTC and FPT will officially provide services to the market. The operators will purchase wholesale the capacity from the infrastructure developers such as Viettel, MobiFone and VinaPhone and then retail to clients under their brands.

In another move, in 2011 as small service providers cannot continue the battle with big providers, they will try to “shake hands” with the partners with high financial capability in order to leverage their strengths. The trend was initiated by EVN Telecom in 2010 when the operator sold 66 percent of its chartered capital to FPT. With the affair, EVN Telecom got 3000 billion dong to invest in the 3G infrastructure.

It is expected that in 2011, similar cooperative deals will be made, including deals between CMC and VTC to develop 4G/LTE technology, or between SPT and a partner in the S-Fone project.

“The convergence of telecom, broadband Internet, broadcasting and televising will be more clear in 2011, with telecom and multimedia entertainment services to be developed. With 3G technology and 4G/LTE technology in the near future, operators not only provide connection services, but will also provide other services to consumers and enterprises,” said Jan Wassenius, General Director of Ericsson Vietnam.

Giant pottery products ready for Tet

Bat Trang is putting the finishing touches onto a number of giant - and expensive - pottery products just in time for Tet.

Many well-to-do families are making their way to the pottery village of Bat Trang, in the Gia Lam district, Hanoi to order impressive pottery for the holiday. It is hoped that these elaborate products will bring good luck to the buyers in the New Year.

Craftsman To Thanh Son said that nowadays some rich families shun normal pottery during Tet, instead opting for objects that are large and expensive for prominent display on the ancestral alter.

One man from Ha Dong district of Hanoi put down a deposit of VND50 million (USD2,500) for a set of such objects, says Son.

Among Son’s flashiest objects is a joss-stick bowl worth USD4,000, which took between three and four months to for him to complete.

Some images from Bat Trang village:

Joss-stick bowl priced at VND20 million

Replica of Nguyen Dynasty plate: over VND6 million

A censer: USD4,000

A pair of light stands going for USD4,000

Pottery can reach into the tens of millions VND

Craftsman To Thanh Son shows off an especially expensive piece

Little Tet lions

Custom made pottery

Source:  Vietnamnet

Central Vietnam's Photos: where enjoyment never ends

Vietnam's torso is, appropriately enough, where I ate the best food. If I could only return to one region, I think it'd have to be Central for this very reason. (This said, why no food shots? Perhaps I was enjoying the meals too intensely to consider documenting them. You may also find it curious that my first food story is completely unappetizing. Good thing the meals got better.)

Heading south from Hanoi, I got off the train in Ninh Binh (not quite Central Vietnam yet, but nevermind, I haven't talked about it yet). I arrived in the evening and the next morning joined up with two German women to tour the area in a private car. Our driver spoke very little English so we were at his mercy, getting out of the car when he stopped and walking in the direction of his index finger. First up, a boat ride down the river:

We stopped off at a big Catholic church, which sported a kitschy little market out front with a wide assortment of plastic Mary and Jesus paraphernalia:

The folks here row their boats with their feet. Looks like it takes incredible control:

After the boat tour, our driver took us to a local restaurant for lunch. No one there spoke English so we managed enough Vietnamese and hand gestures to order any two dishes of their choosing. One was a mysterious meat, darkish in color and a little tough. The waitress demonstrated how to put the meat on a lettuce leaf, top it with some other herbs, roll it up and dunk it in a sauce. It didn't taste like any meat I'd eaten before, but as skeptical as I was, I was that much hungrier.

Back in the car, the three of us began pondering aloud the possibilities of the mystery meat. At the mention of dog, our driver hooted and managed through laughter: "Dog, dog, yes, dog. So sorry. So sorry." So, there you have it. I ate dog. Sorry Lucy. But it really is just point of view, right? Pigs make great pets as well.

An afternoon trip to Tam Coc for the paddle boat ride through caves and by stony outcrops was worthwhile even though the drizzle never let up. The next morning was just as soggy so I moved on to Hue. An overly talkative guy who had been pestering me at the guesthouse in Ninh Binh did me a favor in the end by introducing me to the two Kiwi gals below at the train station. We became fast friends and booked a place together in Hue.

Hue is renowned for its cuisine. There's a story about a picky emperor who demanded that 50 new dishes be created for the royal menu, leaving a legacy of rich creations. Or something to that effect. I can only vouch for the present-day culinary situation and I say it's worth going to this city if only to dine. As I don't have any food shots, I'll insert Vietnamese coffee here. This stuff is addictive and found up and down the country:

Hue is painted in bold, vivid colors. Bicycles are a popular mode of transport in the mid-sized town:

After Hue, it was on to Hoi An, where you can't spit without hitting a tailor shop. This is the town in Vietnam for having clothes tailor-made. If you allot two days for this town, better make it five. You'll get sucked in by the savvy seamstresses, river-side restaurants and photographic street scenes.

Lantern shops like this one give the town a romantic feel:

The Japanese covered bridge is a beauty:

Only 3 kilometers outside town lies the Thanh Ha Pottery Village. These women were so warm and welcoming and let me take photos of them in action. Talk about fancy footwork.

Bowls drying in the sun:

One day, Andrea, Cat, Pam and I took a bus to My Son, once a holy city for the Cham people. It was fun to wonder through the ruins but I've heard there's much better Cham architecture elsewhere. Considering the time and cost and what's to see while there, I wouldn't do it a second time. But okay, it was a decent enough experience to have once. A horrifying experience actually happened on the way there. The bus in front of us struck and killed a motorcyclist. Andrea is a doctor so she got off the bus to assist but it was too late. After some time, several shaken tourists from that bus joined us and we moved on, though in somber moods.

After another day or so in Hoi An, the other girls headed south - where I would meet up with them again - and I moved to nearby China Beach (yes, the China Beach). I only stayed a few days, but could have easily stretched it to a week or longer. I stayed at Hua's Place, which must be the chillest place on earth. There's Hua with his wife in the picture below along with me and a couple of English travelers. You get to know the others staying there pretty well - if you want it that way - because dinner is served family-style. Dishes vary from night to night and you eat what is served, which is generally very good. Everything is on the honor system so when you grab a beer from the fridge or order up a banana pancake, you write it on your page in the guest book.

And then there's this little treasure:

I had the long stretch of beach nearly to myself during morning and early evening walks. One evening as I sat down there reading, three giggling women dropped their belongings on the sand and ran for the water fully clothed. They dunked themselves once and then splashed back to the shore, picked up their things and left the beach still giggling. I guess joy doesn't have to last long to be real.

Source: Gingeruprooted, dtinews