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Russia to
begin construction on 6th submarine for Vietnam
St Petersburg-based
Admiralty Verfi shipyard will commence work on its 6th submarine for
This is the final
submarine the Russian shipbuilder is providing to
The first
submarine, dubbed HQ-182 Hanoi successfully made its first maiden voyage on
January 8, 2014.
The second vessel
named HQ-183 Ho Chi Minh City docked at
Collectively, the
six submarines have been nicknamed "black holes" for their ability
to remain undetected underwater.
Nationwide
activities mark 60th anniversary of Dien Bien Phu Victory
A number of
activities were organised across the country to celebrate the 60th
anniversary of the Dien Bien Phu Victory over the French colonialists (May 7,
1954 - May 7, 2014).
On behalf of the
Central Military Commission and the Ministry of National Defence, Senior
Lieutenant General Ngo Xuan Lich, Secretary of the Party Central Committee
and Chief of the General Department of Politics under the Vietnam People’s
Army, visited and presented a gift to General Le Duc Anh, former President,
former Minister of National Defense; and General Nguyen Quyet, former Chief
of the General Department of Politics under the Vietnam People’s Army.
On April 29, two
photogragphy exhibitions opened in the
The exhibition
displays over 90 documents and photos of great historical value, featuring
the whole process of the national struggle against the French colonists,
under the leadership of the Party and President Ho Chi Minh, as well as
highlighting the Dien Bien Phu Victory.
Also the same day,
the
The film week,
which runs until May 7, is expected to help the younger generation learn more
about the resounding
The Quang Ngai
provincial Department of Culture, Sports and Tourism and the Vietnam
Association of Historical Sciences on April 29 jointly organised a
photography exhibition featuring the life and career of Lieutenant General
Pham Kiet, a brilliant military official of Vietnam People’s Army, and his
great contribution to the national struggle for liberation and revolutionary
cause.
Also on April 29, a
propaganda painting exhibition on Dien Bien Phu Victory opened in the
northern port city of
More than 200
posters and paintings provide visitors with insight into the Vietnamese
people’s resistance war against the French, as well as the history of the
glorious
Hanoi
paroles prisoners on National Liberation Day
The Hanoi Police on
April 29 announced an amnesty and commutation for 145 inmates from its three
detention camps on the occasion of National Liberation Day (April 30).
Among the total, 25
will be released on parole, and 119 will have their prison terms commuted by
one to nine months.
At Detention Camp
No1, Lieutenant General Dinh Van Toan, deputy director of the Hanoi Police,
congratulated prisoners eligible for the amnesty and commutation and asked
others to perform well to be considered in the next phase of amnesty.
He also asked the
camp to take more care of the prisoners so that they would soon enjoy the
State’s leniency and tolerance and reunite with their family.
The same day, the
southern
Man fined
for illegally trading cobras
A 40-year-old man
from Nam Truc district in the northern
He was caught a
month ago transporting 26 cobras from the central
The fine was issued
following a Decision signed on April 28 by Nguyen Duc Cuong, chairman of the
Quang Tri People's Committee.
The 26 cobras,
which are known as Ophiophagus Hannah and specified by the Government as a
rare species, have been released into their natural habitat.-
Traffic
accidents down in first four months
More than 8,600
traffic accidents occurred nationwide in the first four months of 2014,
killing 3,173 people and injuring another 8,512.
According to the
National Committee for Traffic Safety, declines were seen in the number of
cases (13.4 percent), fatalities (4.8 percent) and injuries (16.6 percent)
against the same period last year.
In April alone, the
nation saw 2,056 traffic accidents, resulting in 746 deaths and leaving 2,050
people injured. These figures showed declines of 294 cases, nine deaths and
275 injuries from one year ago.
During the month,
traffic police have handled nearly 1.4 million traffic law violation cases,
collecting total administrative fines of 803 billion VND (37.7 million USD)
and detaining 8,700 cars and 157 motorbikes.
Vietnamese
war heroes commemorated in Germany
The Vietnamese
community in
The April 27
ceremony at Tu An pagoda in
Monk Thich Tu Nhon
said that the event was to express gratitude to those who devoted their lives
to defending the country’s sea and island sovereignty and to remind
Vietnamese nationals of the self-reliance spirit.
In
The day-long
requiem was also aimed to tell Vietnamese people to treasure the sacrifices
made by soldiers and their compatriots.
Children
encouraged to wear helmets
A programme
encouraging primary school children to wear helmets on the road was launched
on April 28-29 in the southern
Tens of thousands
of helmets will be donated to children and teachers in the
Campaigns to raise
public awareness of the significance of wearing helmets for self-protection
is essential, said the National Traffic Safety Committee.
Launched by the the
Asia Injury Prevention Foundation (AIP), the Helmets for Kids campaign aims
to reduce the number of traffic crash injuries and fatalities.
More than 25,000
helmets have already been presented to first graders in the three provinces
under the three-year-old project.
Sustainable
living space nurtures innovative ideas
A sustainable
living space at the Hanoi University of Science and Technology was opened on
April 29, aiming to promote sustainable consumption practices in
Tran Van Nhan,
Director of the Vietnam Cleaner Production Centre, said that the space is
showcasing samples of 2,000 sustainable products that have been developed by Vietnamese
and Dutch experts in cooperation with 500 businesses from
Businesses that
want to expand their network and boost partnerships in the field can send
their products to the space for display, he added.
The space will also
offer a platform for people to practice sustainable consumption under the
GetGreen Vietnam project.
Doctor Marcel Crul
from the Dutch Delft University of Technology said that the space will open
up opportunities for experts and businesspeople to share ideas, harbouring
initiatives on sustainability and innovation.
Kon Tum
team brings war hero remains home
Seventeen sets of
remains of Vietnamese volunteer soldiers and experts have been retrieved from
The retrieval was
part of the search campaign during the 2013-24 dry season carried out by the
K53 team of the Military Command of the Central Highlands
On April 29, the
provincial Military Command reported that the remains included 15 found in
They will be laid
to rest in
Co To's
facelift attributed to access to national grid
From a poor island
district with poor infrastructure, Co To island in the
From October 16,
2013, backward, the district had to use generators to produce electricity. To
cater to the power demand of over 6,000 islanders, each year Co To district
had to spend over 30 billion VND (1.4 million USD), including 10 billion VND
from the State and the rest paid by islanders.
This large expense
partly held back the development of some spearhead economic industries,
including tourism, fishing and the processing of fish.
For that reason,
Quang Ninh province and the Northern Power Corporation (NPC) have decided to
bring power to the district. A project worth over 1.1 trillion VND was
officially launched on November 4, 2012, to build diverse works, including
23.226 kilometres of 110kV line, 25.064 kilometres of undersea cable, and
43.333 kilometres of 22kV overhead line.
The national grid
has created a facelift to the district, remarkably improving locals' lives.
Islanders do not hesitate to use power for economic development.
Ngo Van Tuat, in Co
To town, said that earlier, as the power fee was very expensive, he had to
pay at least 200,000 VND per month. When his family used the power from the
national grid, he only had to pay 100,000 VND for several electronic devices.
“With the inexpensive
electricity fee, I bought more fridges to keep seafood fresher and saved more
money,” he said.
The electricity
also brought the island greater opportunities for developing tourism – the
sector that was set as a spearhead industry for the district.
According to Nguyen
Duc Thanh, Secretary of the district Party Committee, over the past 30 years,
some 1,300 houses worth 90 billion VND were built on Co To island. However,
within six months of having access to the national grid, people built over
500 houses worth 100 billion VND for accommodation and to welcome visitors.
At present, many
families are expanding their houses to provide accommodation with greater
comfort for visitors.
During the 2014
tourism reason, the district invests more in express buses and trams to serve
tourism.
“The district’s
socio-economic development has seen a breakthrough thanks to the national
grid,” said Thanh.
Home
helpers to enjoy official labour rights
A Government
resolution will take effect this May recognising home help as a career with
special protections, reported Thanh Nien (Young people) newspaper.
Tong Thi Minh, head
of the Ministry of Labour, War Invalid and Social Affairs’ Labour and Wages
Department, said her office is drafting details of the resolution which takes
effect on May 25.
The details will
not provide a precise contract format but compel employers to provide new
hires with a list of tasks their job requires. This list will effectively
prohibit the employer from forcing an employee to do other tasks.
The resolution also
bans employers from all kinds of abuse and sexual harassment, and requires
them to include meals, lodging and travel support in the contract, as well as
the helpers’ wages, Minh said.
She said the
resolution does not require employers to pay social insurance for helpers as
the payment is only obligatory for employers with at least 10 employees.
Ngo Thi Ngoc Anh,
Director of the Hanoi-based Research Centre for Gender, Family and
Environment in Development, said the resolution should specify the
responsibility and power of local governments on the matter.
Her centre has been
running a home helper protection project for two years in
Anh said officials
in areas she encountered had no understanding of how to resolve a breach of
contract dispute.
Questioned about
Anh’s concerns, Minh said the contract can be filled with labour officials at
the ward or commune level. Disputes will be dealt with by district government
officials, and can be brought to court in the event that local officials fail
to offer satisfying solutions.
She said leaflets
and training courses will be provided at several localities to help officials
know what they need to do.
Tin Tuc, a daily of
the Vietnam News Agency, quoted Nelien Haspels, an expert on gender issues at
the International Labor Organisation Asia-Pacifi,c as saying that ILO
considers the resolution an important step toward protecting home helpers and
recognising their contributions to socio-economic values.
An ILO survey noted
that the number of home helpers in
The survey also
said most helpers are required to work too many hours and are vulnerable to
sexual harassment and different kinds of abuse.
Home helpers have
expressed excitement over the new regulations which give them better control
over their jobs, according to Tin Tuc, which noted that their employers are
unhappy for the same reason.
Nguyen Thi Luyen
from Nam Dinh province, who works at a luxury apartment building in
Her colleague Diep
said they have been working under verbal contracts or negotiations settled
between brokerage companies and the families.
“Families try all
they can to cut into our wages,” Diep said.
But Bich Hoa, an
employer from
Hoa said most
helpers follow habit or their employers’ instructions, and few are
professionally trained.
The ILO survey also
said most of the helpers are poor women from rural areas and usually have
only a ninth grade education at most.
Some employers
objected to the new scheduling regulations, saying they do not suit the
nature of the job.
The resolution
requires overtime for working extra hours, or on official holidays; it also
grants home helpers 12 vacation days a year.
Nguyen Thanh Truyen
from
Inland
people send support for Truong Sa
Representatives
hailing from provinces and organisations have set sail for Truong Sa island
district, the central coastal
Ship HQ-996 with
those people on board left Khanh Hoa’s Cam Ranh port on April 28.
During the trip til
May 7, the delegation will deliver gifts, totalling some 2 billion VND
(95,200 USD), to soldiers and residents on Song Tu Tay, Son Ca, Nam Yet, Sinh
Ton, Co Lin and Truong Sa Lon islands and Platform DK1.
A ceremony will
also be held to commemorate the soldiers who dedicated their lives to
protecting Truong Sa archipelago and the country’s southwestern waters.
Secretary of the
Khanh Hoa provincial Party Committee Le Thanh Quang said that the visit
delivers the support of inland people for the construction of an economically
and militarily strong Truong Sa district.-
Russian scientists
and medical experts joining in preserving the embalmed body of the late
President Ho Chi Minh, the founder of modern
Speaking at the event,
Political Commissar of the Ho Chi Minh Mausoleum Safeguarding High Command,
Maj. Gen. Pham Van Lap recalled the memories in September 1967 when
During 1969-1975
fierce wartime, Russian medical specialists and officers and soldiers of the
Vietnam People’s Army successfully moved the remains of the President to
far-flung areas to safety for six times, he said.
The embalmed
President was later laid inside a mausoleum dedicated to him. Since the
mausoleum inaugurated in late August 1975, it received over 50 million
visitors, from both at home and abroad, to pay tribute to the late leader
whose mummified body is always kept at the best state.
Since 2004, the
Russian
Vietnamese
Ambassador Nguyen Xuan Son, in his speech, reiterated his gratitude to
participants for their dedicated support and endeavours.
Dien Bien
Phu victory spotlighted at
On April 29,
The event was held
by the Moscow Academy of Economics and Law (MAEL) and the Russian Veterans
Association in
Speaking at the
seminar, Russian military experts emphasized that the
This was the
victory of the ingenious combination between a modern military strategy with
The resounding
victory not only brought peace to
Delegates said that
today’s young generations should be educated about the historic victories of
Vietnam and the Soviet Union with the great sacrifice of millions of
outstanding people so as to make them better understand the value of peace.
Vietnamese
ambassador to Russia Pham Xuan Son said despite happening in different
timelines, the victories of the Vietnamese and
Moreover, the
victory of the Soviet people in the Great Patriotic War was also a positive
factor in encouraging revolutionary movements in the world in general as well
as in
“The Vietnamese
people are always grateful to the Soviet Union for its tremendous support in
Measles on
the rise in Binh Duong
The southern
Measles cases in
adults and children in Binh Duong are still showing signs of increasing.
Over the past two
weeks, the provincial general hospital has received a steady stream of
patients suffering from the bacterial infection typhus, commonly associated
as the cause of the measles virus.
Adult patients are
classified for examination and treatment at the infectious disease area
while children patients are monitored for health condition at the paediatrics
department.
Despite the
increasing number of patients admitted to the hospital for inpatient
treatment in recent days, the hospital has received a large number of severe
cases that required the support of respiratory machine or intensive
treatment.
Dr. Nguyen Van
Tinh, the hospital’s Deputy Director said, "The number of measles
patients has increased sharply, including two separate paediatric critical
cases and two severe adult cases have begun to recover.”
The local health
sector also suggested the people should bring their children for vaccination
against measles and take preventive measures to limit the spread in the
community.
Deputy Minister of
Labour, Invalids and Social Affairs Nguyen Trong Dam and US Special Advisor
for International Disability Rights Judith E.Heumann co-chaired an April 29
roundtable in
The Ministry of
Labour, Invalids and Social Affairs reported at the event that
Participants agreed
that the country has always prioritised conducting policies to ensure the
rights of the disabled and boost their participation in social affairs.
With the aim of
providing vocational training and generating jobs for 250,000 people with
disabilities by 2015, the Vietnamese Government has been improving its legal
system relating to the issue.
The country also
signed the UN Convention on the Rights of Persons with Disability in 2007 and
is expected to ratify it this year.
Besides receiving
social and legal support, disabled people in
The MoLISA he
Ministry of Labour, Invalids and Social Affairs will continue programmes to
raise people’s awareness of the disabled, and intensify activities to help
them better integrate into the community.
Vietnamese
officials are joining more than 1,000 delegates at the 2014 Going Global -
one of the greatest international conferences of higher education organised
by the British Council – in
Bui Van Ga, Vice
Minister of Education and Training, is scheduled to chair a breakfast session
on higher education partnerships in Vietnam and join Brazilian and Turkish
education leaders to talk about the role of internationalisation in driving
the world’s fastest growing economies.
The ‘Vietnam-UK:
Partnership for Mutual Development’ breakfast session will be held on May 1,
bringing together 40 vice-chancellors and international leads from UK and US
leading higher education institutions.
Participants will
be introduced to unique and innovative partnerships with employers and
researchers that have been enabling the
This will be
presented through a project on establishing a Vietnam-UK research led
international standards university, initiated by Aston University (UK) and
the
To date the
Tran Ngoc Ca, Head
of the US-based Science and Technology Office under the Ministry of Science
and Technology, will talk about 10 prioritised areas within Vietnam's science
and technology development strategy until 2020 and share his expertise in
developing public - private - community partnerships to facilitate innovation
in science and technology and forming collaboration work with US partners in
key areas such as biotechnology and agriculture, STEM education and research
exchange, amongst others.
Vice Minister Ga
will join the president of the Education Council of Turkey and the president
of the National Council for Scientific and Technological Development of
Brazil to discuss the role and impact of internationalisation in emerging
economies.
The delegation from
Around 200 domestic
and foreign scientists from Russia, the US, France, China, Laos and Vietnam
will attend a seminar in Hanoi on May 5 to examine the significance and
magnitude of the 1954 Dien Bien Phu victory over French colonialism.
The historic Dien
Bien Phu victory – the climax of the 1953-1954 Winter-Spring Strategic
Offensive – was the greatest victory recorded by the Vietnam People’s Army
and Vietnamese people in their protracted war of resistance against the
French colonialists.
The victory is a
glorious landmark and forever pride of Vietnamese people. It sent shockwaves
reverberating around the world signaling the end of French colonialism while
concurrently giving rise to the national liberation movement around the
world.
Dr Nguyen Van Nhat,
Director of the Vietnam Institute of History, emphasises that the seminar
aims to affirm the clear-sighted and wise leadership of the Communist Party
of Vietnam and President Ho Chi Minh in selecting the most appropriate war
strategy and mobilising forces for the historic campaign.
The May 7, 1954
victory demonstrated the heroic sacrifice and great contribution of armed
forces, conscripted labourers and people nationwide, especially those in
north-west and liberated zone IV.
It heightened
revolutionary vigilance, upheld revolutionary will, and strengthened military
potential to be ready to defend national sovereignty and the socialist regime
amidst hostile forces’ insidious schemes.
The historic
victory helped foster international relations and cooperation in the fields
of politics, diplomacy, military, security and economics to raise
The seminar will be
held by the Vietnam Academy of Social Sciences (VASS).
Japan
awards Sunrise Order to VJFA President
The information was
released by the Japanese Embassy in
Khai has received a
Japanese scholarship for a Doctor of Philosophy (PhD) course in
In 1995, as
Secretary of the Japan-Vietnam Friendship Parliamentary Alliance (JVFPA),
Khai actively contributed to maintaining and expanding the alliance’s
activities with the aim of strengthening parliamentary exchange between the
two countries.
In 2002, after
being elected to the Diet (Parliament), he became an official member of JVFPA
and the first President of the Vietnamese Students' Association in
Since he was
appointed as VJFA Chairman, he has initiated a series of cultural exchanges
between
He is currently
introducing Japanese culture through translating Japanese poems into
Vietnamese.
Brunei navy
patrol ship visits Vietnam
KDB Darulehsan of
the Royal Brunei Navy with 70 officers and crewmen on board docked at
During their stay,
the
This is the first
visit to
PM approves
Lang-Hoa Lac water project
The Prime Minister
has approved a US$254.45 million water improvement project for the
The total
investment in the project will be sourced with US$230.39 from Asian
Development Bank (ADB) loans, with the remainder coming from Vietnamese
counterpart funds.
The project, using
water sources from Da River, aims to solve social welfare problems and
improve the living environment for the people in the outskirt areas, creating
favourable conditions for the capital city’s economic development.
Work on the project
is expected to begin later this year and be completed prior to 2020.
Major drug
trafficking ring busted in HCM City
Ten people were
arrested on April 28 in an alleged narcotic trafficking conspiracy operating
out of
Police forces in
Binh Thanh district
Hieu declared that
his ring has been operating on a fairly large scale, specializing in
synthetic drugs involving many coconspirators in numerous districts of
He purchased
synthetic drugs from three main suppliers, namely 38 year-old Nguyen Trong
Thien Thu from district three, 29 year-old Nguyen Viet Son from Go Vap
district, and 34 year-old Vong Chi Vinh from Tan Phu district.
Police also seized
150 gram of synthetic drugs and 75 ecstasy pills. Detainees reportedly
confessed they had already sold 500 grams of synthetic drugs and around 500
ecstasy pills in the preceding two months.
Further
investigations are continuing.
The Vietnamese Embassy
to the
(MSAVLC)- a British
charitable organization- has closely linked with a half-century of
humanitarian work in
MSAVLC President
and Secretary General Peter Lidgard said 2013 was a challenging year for his
organization when half of the 8 executive board members had to quit because
of health reasons.
However, the
remaining members have spared no efforts to take on the mission of the
organization to continue operations and medical assistance for the people
from Vietnam Laos and
During 2013 alone,
the MSAVLC called for donations from kind-hearted people across the UK with a
large amount of funding, wheelchairs and hearing aid equipment for the
Vietnam Association for Victims of Agent Orange/dioxin (VAVA) in Hanoi
and Ha Tinh.
It also sponsored
training programs, medical equipment purchase and healthcare projects for
Also during the
past year, Peter Lidgard and his wife Mary who is also a member of the
executive board conducted a nearly four-month trip to Vietnam, Laos and
Cambodia to assess the implementation of MSAVLC-funded humanitarian projects
and to learn the practical needs of funding recipients to improve the
organization’s operational efficiency.
At the meeting,
ambassador Vu Quang Minh spoke highly of the MSAVLC’s long-term operation and
practical assistance for the people of the three SEA nations as well as its
enduring contributions it made for the past decades to developing stronger
relations between
“The Vietnamese
Embassy is ready to serve as a bridge for the MSAVLC to strengthen its
connectivity with other organizations having relations with
In addition, the
Embassy proposed making a documentary about the MSAVLC’s charitable
activities in the lead up to the 50th of anniversary of its establishment in
2015.” Minh concluded.
Prosecutions
to come in the
Police in
Police in Lai Chau
said they have gathered evidence and sent it to the
Major-General Tran
Duan, head of police force in
Police in
On February 24, the
bridge collapsed while a funeral procession was crossing. About 20 people
fell into the rocky gorge underneath. The accident killed eight and left 38
injured. After the Ministry of Transport confirmed in their report that
overload was not the cause, Deputy Prime Minister Nguyen Xuan Phuc asked the
Ministry of Public Security to quickly investigate the case and submit the
results in April.
Nguyen Khac Chu,
Chairman of Lai Chau Province People's Committee, said they were plans for
building a temporary bridge.
Hand, foot
and mouth disease spreads in Vietnam
Hand, foot and
mouth disease has affected more than 17,400 people in 62 out of 63 cities and
provinces nationwide this year, while
The information was
given by the Preventive Medicine Department under the Ministry of Health.
According to the
department, despite seeing a 20% reduction in the number of new patients
compared to last year overall, a number of localities have recorded
increases. Among those,
The disease is
mainly transmitted through the digestive track, mostly affecting children. It
also poses a high risk of becoming an epidemic. In serious cases patients can
suffer from complications such as meningitis, pneumonia and heart problems,
causing deaths if they do not receive proper treatment in a timely manner.
Dr. Tran Dac Phu,
Head of the Preventive Medicine Department, said the Ministry of Health has
taken measures to control the disease in affected areas to prevent it from
spreading.
He added that
Source: VNA/VNN/VOV/Dantri/VNS
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Thứ Tư, 30 tháng 4, 2014
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Market rallies but liquidity falls
HA NOI (VNS)
– Shares closed higher on Tuesday on both the national stock exchanges as the
blue chips gained ground, but the liquidity continued to decrease due to
rising investor caution.
On the HCM Stock Exchange, the VN-Index rose 0.85 per cent
over Monday to end at 578 points yesterday.
The gainers outnumbered the losers by 105-89, while 75 shares
closed unchanged.
Ten of the top 30 shares by market value and liquidity
rallied, while eight slumped and 12 closed flat. The VN30 index inched up
0.51 per cent to end at 632.10 points.
However, the liquidity on the market continued to fall with
the market volume falling by 10 per cent from the previous session, totalling
over 50 million shares, and the market value reducing by 30 per cent to reach
just VND917 billion, or US$43.4 million.
"The investors continued to maintain a careful approach
towards equity assets during a time of uncertain outlook," analysts of
FPT Securities wrote in a note.
Some blue chips gained, leading the market's rebound. PV Gas
(GAS) and Masan Group (MSN) climbed nearly 3 per cent and Vietcombank (VCB)
grew over 1 per cent.
Real estate developer FLC Group (FLC) was again the most
active stock on the trading of 7 million shares, but the price slipped 4.5
per cent to end at VND10,600 a share.
On the Ha Noi Stock Exchange, the HNX-Index increased 0.29 per
cent to close at 79.88 points. The HNX30, tracking the top 30 shares on the
bourse, was also up 0.5 per cent to close at 160.46 points.
The trading continued to fall, however, as the market volume
and value decreased another 10 per cent, totalling 31 million shares, worth
VND371 billion, or $17.6 million, respectively.
PetroVietnam Construction Corp (PVX) was the most active code
with 4.1 million shares being exchanged at VND5,100 a share.
The market is closed today. It will reopen on Monday after the
commemoration of the National Reunification Day and May Day. – VNS
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BUSINESS
IN BRIEF 1/5
Korean agriculture,
an extraordinarily efficient and good mix of traditional farming methods
mixed with modern technology, was the topic of discussion at a meeting in
At the event,
Deputy Prime Minister Vu Van Ninh told Chairman of the Coordinating Committee
of Vietnam-RoK development partnership programme Jun Kwang Woo
The Vietnamese
Government always looks forward to exploring new and novel cooperation
ideas, creating favorable condition for both nations to boost their
economies, he said.
The RoK has become
one of the most important trade partners of
Jun Kwang Woo said
in turn that the RoK is more than willing to share experiences and
strengthening cooperation in agriculture and rural development, particularly
in new rural construction.
He also expressed
his strong desire that
The decline in
agriculture, mirrored by the rural exodus, as the nation moves to a more
industrialised society is undermining the nation’s economy as a whole, as
many parts of the country are left behind.
Although
agriculture continues to play an important part in the national economy,
official statistics reflect the sector’s growth has slowed in 2014, a little
bit lower than the figure of 2.67% in 2013 and 2.68% in 2012 and 4% in 2011.
In context, the
demand and prices for farm produce and commodities began to taper off sharply
in 2013 compared to prior years and the trend is continuing in 2014.
As prime examples,
in 2013 the price of rice, coffee and rubber commodities decreased by 18.7%,
26.6% and 11.7% respectively.
Prime Minister
Nguyen Tan Dung attributes the slow growth of the agricultural sector to an
overabundance of small-scale family farms combined with an insufficient
number of large scale production farms, lack of coordination within the
sector to work for the common good, and low productivity and poor quality.
Given the backdrop
of low demand, low prices and the context of fierce international
competition, industry experts predict the growth of the agricultural sector
to remain stagnant in line with a slow pace in the development of production
methods and competitive edge of farm produce.
Nguyen Do Anh Tuan
from the
These shortcomings
have directly led to the hesitancy of domestic and foreign businesses to
invest in the agricultural sector, he said.
The World Bank (WB)
in turn points to the lackluster labour productivity growth in the
agricultural sector, which is significantly lower than comparable figures
from
The productivity
growth in the agricultural sector only increased from US$200 per capita per
year to nearly US$400 per capita per year from 1985 to 2011, the World Bank
reports, the lowest level in the ASEAN region.
Factually,
However, without
huge investments from the business community, these solutions lack
practicality and cannot help the agricultural sector develop effectively.
Richard F. Doner,
from the Political Department of the Emory University emphasises that
upgrading the value chain is extremely difficult as implementing new
technology is much easier said than done, requiring not only huge investment
of money but significant training and development of human resources.
Therefore, the
government needs to concentrate on devising a more practical and proper
mechanism to solve these difficulties, he said adding that the formulation of
policies should be initiated in a highly coordinated manner by government
agencies, research units, business associations, and public-private
consulting companies.
Meanwhile, Tuan
said that restructuring the agricultural sector should focus on renovating
management by clearly delineating those fields and services which will be
administered by the state, leaving the remainder to the private sector.
Additionally, there
should be carefully thought out and crafted policies to facilitate the
privatisation of the agriculture sector and the establishment of associations
to coordinate activities of the sector, he concluded.
Last but not least,
Ms Jayati Ghosh, an Economics Professor from
Private sector
production is the key to agricultural success, and capitalizing on that, a
stable farm produce value chain can be constructed, bringing a practical
sustainable and stable production model to agriculture, she concluded.
Economic
forum develops practical solutions for 2014
Experts attending
the Spring Economic Forum have examined the status of the economy and come up
with a number of practical solutions for buoying up the economy which has
already bottomed out and is on track to recover.
Participants at the
April 28-29 forum in Quang Ninh province shared the view that the economy has
weathered the storm and begun to see positive improvements.
The GDP growth rate
increased in a quarterly basis; inflation was kept at a low level; Quarter 1
ended with a US$1 billion trade surplus; and the foreign currency market
remained stable.
Industrial
production began to pick up, with an increasing number of businesses resuming
operation and new businesses registering for the first time. Thanks to low
interest rates, more businesses are now accessible to bank loans to maintain
production.
All the same, many
experts were quick to caution that many challenges are still lying ahead.
They cited low aggregate demand as a key factor that affects the health of
the economy, especially private businesses.
Nguyen Van Giau,
Chairman of the National Assembly Committee for Economic Affairs, pointed out
that State employee incomes have stagnated and have not increased over the past
two years, showing the aggregate demand of the society is rather low.
Experts at the
forum also discussed market difficulties, including a lack of adequate
policies for implementing a VND30,000 billion stimulate package for the real
estate market and the thorny problem of not adequately dealing with
non-performing loans.
They agreed that
economic restructuring that began a year ago has not met expectations,
especially for State-owned enterprises and big economic groups.
Although the public
debt is within safe limit approved by the National Assembly, it still remains
high. It is important for the State to balance budget to pay debts and ensure
expenditure structure to promote economic development.
The State has
issued a large amount of bonds, 80% of which have been bought by credit
organisations, slowing down capital for production and trading.
The forum also
dealt with many other social issues, including labour, employment, education
reform, epidemics, and unemployment
Experts proposed
that the government mobilise all resources to address pending issues, with a
primary focus on economic restructuring, especially in agriculture.
They underlined the
need to put FDI allocation under the microscope, giving priority to essential
areas and products of higher added value.
Some experts
proposed introducing a more flexible exchange rate policy to fuel economic
growth, supporting businesses in accessing market, and evaluating the
comprehensive impact of the new integration process, taking into account
Vietnam-EU Free Trade Agreement negotiations, the establishment of the ASEAN
community in 2015 and Trans-Pacific Partnership (TPP) agreement negotiations.
Many participants
also agreed that institutional reform costs less but faces the most
difficulty as it must be carried out in all fields and levels.
Meeting
realizes Vietnam–Singapore connectivity agreement
At the meeting,
co-chaired by Vietnamese Minister of Planning and Investment Bui Quang Vinh
and Singaporean Minister for Trade and Industry Lim Hng Kiang, both sides
reviewed their achievements in the six cooperation areas of finance,
education and training, transportation, information and communication
technology, investment, trade and services.
They also discussed
new measures to expand economic cooperation in line with each country’s
potential and strengths, including the development of
Under VSAEC signed
in 2005,
The 11th
ministerial meeting on economic connectivity will be held in
Lang Son,
Chinese localities strengthen cooperation
Businesses from
Lang Son province are attending the 9th Exhibition on Cultural Products in
They are displaying
a wide variety of high quality Made in
They partook in a
number of seminars and activities that helped increase their understanding of
their Chinese counterparts, and get updated on new products and recent
developments in the marketplace.
Yiwu is considered
the world’s biggest retail market by the United Nations and the World Bank.
Yiwu International
Trade Zone, which covers 5.5 million sq.m, has a special zone for 10 ASEAN
countries, including
Vietnamese
products, including handicrafts and food, are favoured by Chinese and
international wholesalers.
During their stay,
Chairman of the Lang Son City People’s Committee Bui Van Coi and Chairman of
Yiwu City He Mei Hua signed a framework agreement to promote bilateral
cooperation in agriculture, forestry and consumer goods manufacturing.
Attracting
more Korean investment into Can Tho
The Mekong Delta
city of
Speakers highlighted
investment advantages in the City’s industrial zones and high-tech parks in
addition to the Tan Loc and Con Son eco-tourism sites.
They specifically
identified manufacturing, agriculture, and civil construction as key areas of
ideal investment matching the strengths of both the city and the Korean
business community.
A Vietnam-RoK
technology nursery project launched in late 2013 at Tra Noc Industrial Zone
with total investment capital of US$21.13 million was touted as a prime
example of the successes that Korean businesses have experienced.
Once completed, the
project will help regional aquaculture, and agricultural and seafood
processing businesses access advanced technologies to raise the quality and
value of products.
With the project,
Can Tho will have a research and development centre for agricultural and
seafood processing and mechanical engineering to promote its agricultural
advantages and potential.
Japanese investors
are pulling out of the Vietnamese shrimp market due to excessively high
levels of oxytetracycline (OTC), according to the Vietnam Association of
Seafood Exporters and Producers (VASEP).
The decision was
made due to the continuing detection of unacceptably high levels of OTC in
shrimp shipments, despite prior warnings and the fact that it is public
knowledge that virtually all Vietnamese shrimp exports are inspected for the
antibiotic.
VASEP said that the
Japanese importers are considering importing shrimp from
VASEP warns that
unless local shrimp businesses strengthen self-regulation of OTC they will
fail to penetrate the Japanese market.
Still tough
to access home loan program
The Ministry of
Construction has proposed adding more beneficiaries to the VND30-trillion low-interest
home loan program initiated by the Government, but real estate enterprises
still find lending requirements complex and attribute this to a slow pace of
disbursement.
Deputy Minister of
Construction Nguyen Tran
The suggestion is
not new, however, as some enterprises are doing what he proposed but
homebuyers have to shoulder normal interest rates.
Le Ngoc Giau,
general director of Tan Hung Investment Joint Stock Company, said homebuyers
had signed up to buy many of over 600 apartment units launched by the firm
recently. However, they have had to take out normal loans from banks rather
than low-interest credit from the stimulus program.
As each condo is
measured at 84 square meters, exceeding the 70-square-meter limit set by the
VND30-trillion program, homebuyers cannot apply for loans at interest rates
lower than commercial ones. Nonetheless, each unit is priced at less than
VND1 billion, so the investor is ready to give homebuyers 14 square meters
for free, meaning customers have to pay for 70 square meters only, Giau said.
Nguyen Van Duc,
deputy director of the Dat Lanh Real Estate Company, told the Daily that that
there should be just a single price requirement of below VND1.05 billion
instead of the size and unit price requirements as currently applied.
However, Duc said,
this should have been put in place last July or August.
The conditions
applicable to the stimulus program, if relaxed, will help solve part of
people’s housing demand.
The Government
should have policies to encourage enterprises develop small units of 40-50
square meters each. HCMC is now coping with a limited supply of small-sized
homes due to the rising population, Duc added.
Le Hoang Chau,
chairman of the HCMC Real Estate Association, said the new suggestion was
only suitable to housing products in HCMC,
For instance,
residents in the Mekong Delta can buy a high-end apartment or even a villa
for just VND1.05 billion. If one owns a villa, they are not considered
low-income earners, so they are not eligible for the home loan program.
Nguyen Vinh Tran,
general director of Nam Long Investment Joint Stock Company, said the
requirements are still far from reality.
The firm’s
Ehome4-Saigon North project in
Therefore, Tran
suggested the ministry lift the regulation on citizenship status to assist
home investors.
Figures of the
ministry showed participating banks in the VND30-trillion program had
disbursed nearly VND1.7 trillion as of mid-April.
Haiphong’s Do Son
casino saw profits for nearly a decade, but in 2008 started incurring
consistent losses totalling VND169 billion ($8 million) by 2012.
The news was released
at a recent meeting on reviewing the five-year implementation of the
Resolution of the tenth Central Party Committee meeting on continuing to
perfect a socialist-oriented market-based economy.
The report states
that Do Son casino, licensed in 1992 as
But in 2008 it
started seeing losses that amounted to $8 million as of 2012. The casino has
paid an average of VND23.5 billion ($1.1 million) in taxes each year.
As of 2013, it
employed 417 workers, 394 of whom were Vietnamese and the rest foreigners.
Despite its poor
performance in recent years, the casino’s employees still enjoy quite a high
rate of pay. Vietnamese managers earn an average of $800 per month while the
foreign managers take down around $2,300.
Do Son beach and
Cat Ba are
According to a
National Assembly Finance and Budget Commission report released in February,
Ho Tram casino - a major gambling venue in the country in southern Ba
Ria-Vung Tau province – reported revenues of $5.5 million with 35,877
visitors in just seven months operating. In that time, Ho Tram has already
paid more than $2.8 million to the state budget.
The Ministry of
Finance's figures show that the now five trial casinos, based in Haiphong,
Lao Cai, Danang and Quang Ninh, have posted total revenue of VND930 billion
($44 million).
SMEs
struggling to borrow while banks sitting on huge cash piles
Banks are sitting
on huge cash piles at the moment but gaining access to loans is no easy task
for small and medium enterprises (SMEs), according to the 2030 Businessmen
Club under the Saigon Times Club.
SMEs said at a
seminar at the Saigon Times Group office in HCMC last week that they had
found it extremely tough to ask banks for a loan though banks said they had
ample cash to lend.
Nguyen Ngoc Ha,
director of HD Bank’s Nguyen Trai branch, said many SMEs had failed to meet
banks’ lending requirements. Banks often have a different approach to working
with SMEs, he said, noting a good business plan and a good financial
statement would not suffice.
Banks, he said,
know enterprises always have at least two financial reports with one for lenders
and one for the taxman. Some enterprises even have more than two reports, Ha
said.
Before deciding on
a loan, banks should look into the fields where the borrower is active and
how the management of the borrowing firm behaves, he said.
Banks also look at
the way the borrower manages their cash flows, deals with unforeseen
circumstances, and uses their long-term and short-term capital, he added.
Ha Xuan Anh,
chairman of Son Viet Garment JSC based in HCMC, said lender banks always
asked his firm whether it had assets for collateral to take out loans.
Vung Ro
refinery developer refuses land
The
According to local
newspaper Vnexpress, the investor said the land which the local authorities
tried to turn over to them was not fully cleared.
They explained that
many fisheries were still active on the site.
The chairman of the
Phu Yen Provincial People’s Committee Pham Dinh Cu, confirmed the news,
saying that the land to be handed over to the investor was around 134
hectares in the province’s Dong Hoa district.
“We [the province]
have finished land clearance and compensation procedures and so far have paid
VND100 billion ($4.76 million) for the first phase of the project. But there
are still 15 households and around 20 shrimp ponds that have not yet been
moved,” Cu said.
Cu confirmed that
the investor had reason to refuse the land, as local authorities have been
slow in dealing with the issue. Cu also blamed farmers for continuing to farm
shrimp at the location, despite already receiving compensation.
“The province is
committed to forcing them off the site and giving the land as agreed to the
investor by the beginning of May,” he added.
He continued by
saying that committee would support the investor in its plans to start the
project by July.
Vung Ro refinery’s
EPC contract was signed in October last year between the investor and
Vung Ro Petroleum’s
original investment certificate had a planned output of four million tonnes
of crude oil, but the investor revised this to eight million tonnes to
enhance efficiency.
The complex is
slated to start commercial operations by 2016 and will produce a wide range
of products including gasoline, polypropylene, benzene, toluene, xylene and
diesel. The products will be distributed domestically and exported.
With a total
investment of $3.18 billion, Vung Ro would be the biggest FDI project thus
far in Phu Yen. The investor claimed that once operational the refinery would
contribute more than $110 million per year to the local budget and create
more than 1,300 jobs.
Phenikaa
builds $87 million compound quarzt slab factory in Hoa Lac
Located in
Phenikaa announced
that it signed a technology transfer contract with
According to the
signed contract, the Vietnamese company has got the exclusivity in buying
machine and transferring this exclusive technology from Breton company in
With the optimised
designed production line and, Phenikaa expects it would provide the best
quality and luxury quartz products to Vietnamese and the world market. Right
now, the first phase of the manufacturing facility is under the construction.
The manufacturer expects to start its mass production in June 2015.
Vingroup
announced incentives on office leasing
Vincom Office
Company, an arm of Vingroup has announced its special lease programme named
“Golden
Under this
programme, from April 15 to July 15, new tenants will benefit from special
incentives and preferential lease conditions when leasing an office space in
the flagship developments of Vingroup being
During this three
month period, new office tenants will be offered special lease incentives
including VIP staff privileges at the building’s facilities and complementary
services, with specific terms and conditions applying to each project.
Accordingly Vincom
Office Company provides flexible office solutions, accommodates demand from
100m2 to 4,000 m2 on a single floor area, in addition to impressive ceiling
heights, spacious floor layouts, efficient vertical transportation and
amenities at international standards, combined with a smart underground
parking system covering a total area of over three hundred thousand square
meters.
These office
components are all integrated within multi-purpose developments that provide
banking, healthcare, modern residential living, shopping, leisure and dining
outlets. This unique all-in-one offering, combined with prime locations
ensures that
This incentive is
applied for a range projects including the whole floor area of the second
floor of Royal City, Times City; a part of R6 (Royal City); 5-storey building
- Tower 1 (Times City) and office space at Vincom Center Dong Khoi, all are
in prime locations.
Vincom Office
Company is a member of Vingroup - a leading commercial property company that
provides international standard office management and marketing; established
in 2013. Vincom Office currently manages office space in three major
developments:
Lotte gets
nod to build $2 billion Smart Complex
Lotte Consortium –
a joint venture between
The $2 billion
complex is planned for 2A area in the Thu Thiem New Urban Area in
According to Kim
Min Geun, vice president, head of Overseas Mixed Used Development Division of
Lotte Asset Development, Lotte Centre Hanoi and the Smart Complex are key in
the company’s Vietnam development plans and Lotte aims to lead international
development in the future with its expertise in mixed-used development.
The Thu Thiem New
Urban Area is being developed by the Ho Chi Minh City People’s Committee to
match up with Hong Kong’s International Finance Centre and
The Smart Complex
is planned as a commercial and residential centre with multiple shopping
complexes, hotels, serviced residences, offices and apartments.
Lotte Consortium
plans to complete the master plan this year and carry out phased developments
as infrastructure construction allows.
The complex will be
pioneered in
This is Lotte’s
second property development planned for Vietnam, following the now
under-construction Lotte Centre Hanoi, slated to open later this year and
which will be the second tallest building in Vietnam with 65-storeys.
Lotte Centre Hanoi,
once open, will feature a 5-star hotel, offices, luxury serviced residences
and an observation deck on the 65th floor, which it hopes will be one of the
most visited attractions in
Rise in
The property market
has begun to show positive signs, with a recent increase in capital inflows.
Construction
Minister Trinh Dinh Dung reported that by mid-April, the number of
transactions in the real estate market in
Meanwhile, the
State Bank of Vietnam (SBV) said that by the end of March, investment credit
and real estate business increased by 3.95%, much higher than last years’
figure of 1.09%, for the first quarter.
Foreign capital
inflows into
According to the
Foreign Investment Agency, up until April 20, 2014, the property market
ranked second in attracting FDI with additionally increased and
newly-registered capital hitting US$392.3 million, accounting for 8.1% of
total investment. In particular, an apartment project in
Earlier, in the
first quarter of the year, the real estate market also ranked second in
attracting FDI with additionally increased and newly-registered capital
reaching US$288.3 million, making up 8.6% of total investment.
Nearly a year after
getting its new investment certificate, the multi-million dollar Nha Trang
Bay luxury resort project has yet to restart construction, though the new
developer committed to starting operations within two years.
In May 2013, after
a new investment certificate was signed for the VND1.2 trillion ($57 million)
resort project, formerly named Rusalka and now named Champarama Resort and
Spa, the developer – Focus Travel Nha Trang JSC – committed to opening the
project two years later.
In actuality, the
project was first suspended nine years ago in 2005, and still it faces the
same problems it did then and has even added a few to the list.
One of the main
reasons behind the delay was its conflict with Nha Trang Bay plans, currently
in development by the Khanh Hoa province People’s Committee, said Vo Tan
Thai, director of the province’s Department of Planning and Investment.
There have been
different opinions on plans for the bay, particularly a great deal of
opposition from the Ministry of Culture, Sports and Tourism, as well as
scientists and architects, as several investment projects are not correlative
with the Law on Cultural Heritage.
According to Thai,
at present there is no word on as to when the project will restart
construction.
“The planning
issues have been resolved, but many procedures have yet to be completed. At
present, the developer is still working on getting a building permit to
restart the project,” he added.
Another pending
issue is a debt from the old developer – investment and tourism development
company Rus-Inves-Tur (RIT).
To take up the
project, the new developer Focus Travel agreed to inherit all of the rights
and responsibilities but also debts of their predecessor.
Some of the debts
have been resolved, but one with the BMC Building Materials Co Ltd. under the
Ministry of Industry and Trade remains outstanding.
The initial debt
was for VND51.6 billion ($2.4 million), but BMC now lists it as VND275.5
billion ($13.1 million).
After the province
granted the project it’s new investment certificate last year, BMC filed
petitions requesting unsettled problems be resolved, particularly debt
obligations, before handing the project to a new developer.
BMC’s complaints
even reached the desk of the prime minister.
Last Thursday,
Khanh Hoa People’s Committee hosted a meeting to settle these issues.
It is expected that
the province will soon issue a document detailing resolutions.
The erstwhile
Rusalka project received the investment certificate in 2000 and was set to
set up a tourism complex spanning 43.5 hectares that cost some $15 million.
It was invested by
RIT, chaired by Nguyen Duc Chi. In 2005 Chi was arrested under charge of
“frauds and appropriation of others’ assets.” The project thus came to a
halt, had its assets frozen and the licence revoked in 2006, and ended up
being liquidated in mid-August 2011, under an order by the prime minister.
In April, 2010,
however, the Supreme Court overturned the accusations against Chi, and all
assets were returned to Chi. Six months later, the prime minister assigned
Khanh Hoa’s authorities to establish new legal entity to continue the project
to ensure the investor’s benefits and reduce financial damages.
RIT’s former
chairman Chi then proposed to have Focus Travel Nha Trang take over the
project, a request that was green-lighted by the coastal province’s
authorities. Focus Travel Nha Trang was chaired by Nguyen Duc Tan, who is
Chi’s brother.
Buying
rental property trends in HCM City
Many in
A recent study by
CBRE Vietnam indicated that the leasing out is an important factor in the
decision to buy a home for Vietnamese people, particularly in
According to CBRE,
the Vietnamese real estate market is facing a continued slump, which makes
for an opportune time to buy houses with an intention to rent them out.
Rental properties can bring investors a stable source of income, and when the
property market recovers, they can sell the houses at a profit.
Truong An Duong,
Savills
The trend is not
new, but has grown stronger in
According to Mr.
Truong Nam Duong, apartment projects in Binh Tan District, District No. 2 and
Nam Sai Gon area have attracted the most customers.
The Phu My Hung
urban area located, at Nam Sai Gon, is one of the most desirable apartment
projects in
Policies to
revive property market
The state has
offered credit packages for the local real estate market and will amend more
regulations and policies to promote further recovery in the local market,
noted experts.
During an online
dialogue on the property market 2014: opportunities from policies held by the
dddn.com.vn, the online Dien dan Doanh nghiep newspaper yesterday in Ha Noi,
Phan Thanh Mai, the general director of the Bank of Construction, stated that
the local property market has shown positive development over the past few
months, including financial solutions from banks – VND30 trillion and VND50
trillion stimulus packages.
The VND30 trillion
package, one of the government programmes, is aimed at providing credit for
social housing projects. The package will help investors develop the social
housing segment to meet the people's demands and help to push down the prices
of housing apartments, thereby creating conducive factors to remove
stagnation in the local property market, Mai added.
Meanwhile, the
VND50 trillion package, which was recently released, is a commercial credit
package for contractors, investors, and building material producers in the
property sector, he remarked.
Banks will manage
credit to use the money for the right purposes. The state expects that with
the introduction of the package, investors will have more investment capital
and the prices of building material products will also drop. Thus, the prices
of houses and apartments will have a chance to fall against the current
prices.
The state expected
that the package would provide needed capital for unfinished property
projects, Mai reported.
The two credit
packages were aimed to achieve different purposes and expected to boost the
market, he added.
However, according
to Nguyen Huu Cuong, the chairman of the Ha Noi Real Estate Club, experts and
even members of the National Assembly are of the viewpoint that disbursement
of the VND30 trillion package is slow.
The slow
disbursement might not mean that is unsuccessful, Cuong pointed out.
The package for
social apartment projects, including buyers and investors with low interest
rates, was issued at the right time when the market had fallen into serious
crisis, he claimed.
The slow
disbursement of the package was partly due to slow reaction by the people and
enterprises towards the package, while on the other hand, procedures on appraising
and approving the projects had been carefully implemented, he noted.
The package, a
financial tool by the Government, had positive effects on the securities
market to push the VN Index from 397.6 points at the end of 2012 to 569.87
points on Tuesday and lured US$21.6 billion investment into the property
sector, he emphasised.
This support from
the Government helped the local property market to cover losses and aided the
development of the apartment segment having a selling price of around VND20 million
per square metre. The package had saved 61,000 enterprises having thousands
of property projects to avoid closure and bankruptcy, he explained.
Therefore, the
package is expected to prove its efficiency in the future, as the package is
effective until 2020.
Additionally,
according to Nguyen Manh Ha, the director of the House Management Department,
under the Ministry of Construction, the ministry and related ministries and
sectors will amend the laws on trading property, construction, and housing to
deliver more houses for the people and encourage all the economic sectors to
invest into property products for the people.
Those laws will
help people of the low-income group to own apartments and help the property
market to have transparent development.
Cuong remarked that
the amendment of the laws would abolish the administrative barriers for site
clearance, create transparency in the market, and increase the prices of
property products.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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