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JANUARY 6 - 12, 2012

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Honest gamble
PHOTO: BLOOMBERG

Indisposed
Private hospitals fail to fill healthcare vacuum

Lottery winners tell an and honor

endearing story of trust

12-13

Its

possible
Single-digit inflation within reach,
PHOTO: REUTERS

Undue influence
Public good could be compromised as PM concedes interest groups exert

Cambodia slander

Vietnam was invader, says

liberator, not Cambodian PM

4-5
PHOTO: BLOOMBERG

says ADB official

increasing pressure on Vietnamese policy

3

15

NEWS

JANUARY 6 - 12, 2012

consider being a party member as one of the required criteria for a in the government apparatus. Phan Dien, former Politburo Standing person to be appointed to a leader

In my opinion, we should not

Sole rescued sailor floated

By MAI HA

in open ocean for 5 days

HANOI - The sole survivor from the Vinalines Queen, the Vietnamese cargo vessel that allegedly sank in 5,000-meter waters off the Philippines around Christmas time without sending any distress signal, arrived in Hanoi Wednesday with stories of his harrowing time floating at sea.

member and Member of the Party Central Commi ee

other sailors again before he was whisked away from the airport by a media away from Hung.

Dau Ngoc Hung, 31, merely told reporters, All I want to do is meet the

representative of Vinalines, the company that owned the ship, who kept the But later he met reporters before leaving for his hometown, Nghe An. When the ship listed to one side, the officers in charge issued a

Secretariat, in with the Tuoi Tre newspaper on December 29. an interview

warning to all sailors to wear life jackets and stay near the life boats. But the ship sank quickly and I was sucked into the water, he said. I managed to emerge after a while. Then I found a life raft.

10% of the government ocials

Its unrealistic to say only

luckily found a lifeboat though it was badly damaged due to a possible

Dau Ngoc Hung (L) arrives at Hanois Noi Bai International Airport January 4. Hung is the sole survivor out of 23 sailors who were on board the Vietnamese cargo vessel Vinalines signals.
PHOTO: LE QUAN

But it was later capsized by strong winds and choppy seas, and Hung

collision with the sinking ship.

in Hanoi engaged in corruption, percentage is.

but I do not dare to say what the Vu Mao, former chairman Assemblys Commi

Queen which reportedly sank off the Philippines on December 25 without sending distress

there until the London Courage found me, he said. He was referring to the British vessel that found and rescued him on December 30. (Continue on page 4)

I found some food, fresh water and medicines on the boat and stayed

of the National ee for

Foreign Aairs, in an interview Phong January 4. with the Tien

Vietnam named among

HANOI Vietnam was among top 25 beer

newspaper on

worlds top 25 beer guzzlers

consuming nations in the world last year, according to the latest report by the research arm of major Japanese brewer Kirin Holdings Co. Of the 25 nations listed, consumption rose consumed in Europe, North America and The research indicated that the amount of beer Oceania was lower than in the previous year, economic crisis. which it blamed on the downturn following the That decline was more than oset, however, by

most signicantly in Nigeria, up 17.2 percent, followed by India, of 17 percent, Brazil, 16 percent, and Vietnam, 15 percent.

increased consumption in Asia, Latin America, Africa and the Middle East.

(trac) accidents will end or not Only when the earth stop. stands still will trac accidents Transport Minister Dinh La

Its not easy to answer if

beer continues to rise based on demand from guzzled around the world in 2010 to a new record.

According to the report, global consumption of

emerging markets driving the amount of beer

beer consuming continent over the year,

Of all the regions, Asia remained the biggest

Drinkers attend the Hanoi Beer Festival held in downtown Hanoi on December 4, 2011

PHOTO: AFP

accounting for 61.41 million kiloliters of the Asia accounted for 33.6 percent of global

total, an increase of an impressive 5.3 percent. consumption and was followed by Europe percent.

of 5.9 percent and indicative of the nation s

million kiloliters of beer were consumed in 2010, the most recent year for which it has compiled statistics. That gure represents an increase of 2.4

The research estimated last month that 182.69

increased wealth and burgeoning middle class. million kiloliters, down 1.4 percent. Japan placed seventh on the list with 5.81 million kiloliters, down 2.8 percent on the previous year and a reection of an aging population and The United States came in next, with 24.14

with 27.7 percent and Latin America with 16.2 North America was next on the list, accounting

Thang speaking at a press conference in Hanoi on January 3.

percent from the previous year and marked a

for 14.5 percent of the total, followed by Africa, around 1.9 percent of the total.

new record high for the 25th consecutive year.

with 6.1 percent. The Middle East accounted for Broken down by country China remained the ,

diversifying tastes among consumers, Kirin said. consumption in Asia, however, with the average remarkably only landed Japan in 38th place in , the global per capita rankings. AFP VW , Japan did take the award for per capita beer

to implement very well key

The transport sectors task is

And more beer is expected to be drunk next year. would be sucient to ll the Tokyo Dome baseball stadium 147 times. Kirin said that 182.69 million kiloliters of beer

largest individual purchaser of beer for the

solutions to improve the trac ways to collect toll fees.

eighth consecutive year. Chinese put away 44.68 million kiloliters of ale over the year, an increase

Japanese downing 45.4 liters in 2010. That gure,

situation instead of focusing on Hoang Duc Hau of the

Vietnam Bridge and Road

Association quoted by Thanh to the Transport Minister s

Nien on January 3 in response

By THU HANG

Fuel quality emerges as suspect in vehicle explosions

motorbikes of various makes including Deputy Prime Minister Hoang Hyundai, Daewoo, BMW, Mercedes, Ford, Mazda, Mitsubishi, Kia, Toyota, SYM and Honda. Vietnam use gasoline with high octane rating, like A92 and A95. It says those who use poor quality gasoline or gasoline of unclear origin the risk of re and explosions. can face engine failures, low fuel economy and ,

latest proposal to levy yearly trac fees on personal cars and motorbikes.

HANOI

Trung Hai on Wednesday (January 4) asked the Ministry of Science and Technology to the results of inspections done to test the report to Prime Minister Nguyen Tan Dung quality of petroleum products following many instances of vehicles catching re and/or exploding last year. The Deputy PMs instructions were

explosions 50 cars and 39 motorbikes that killed two and injured two others across the country last year. On January 3, the Ministry of Science and

Local media reported a total of 89 vehicle

VW

legs of Ho Chi Minh City how can they move?

Motorbikes are the extended

residents. If we cut those legs o, Thai V an Chung, general Transport

Technologys Product Quality Management Department announced it had found six and Ho Chi Minh City .

SPREADING THE WORD

This weeks most shared stories on

mentioned in a report on the government website. Substandard fuel is one of the suspects in

samples of substandard petroleum in Hanoi It said two samples had higher than

Vietweek website www.thanhniennews.com I no speak English Vietnam flight delayed as man sleeps in airplane's engine Vietnam has fewer than 50 wild tigers left Fashion shop worker killed by boyfriend of irate customer $47,600 of cash, gold stolen from Vietnams police leader

secretary of the HCMC Cargo Association,

the recent spate of motorbike and car res and explosions, Deputy PM Hai said in the note sent to the ministry . According to statistics from the Hanoi

allowed methanol content and four samples did not have the required octane rating (or octane number) a standard measure of the higher the octane number, the more detonating.

speaking with Thanh Nien on January 3.

Fireghting Department, there were 42 vehicle explosions in the city between December 1, 2010 and December 18, 2011. The explosions happened to cars and

performance of a motor or aviation fuel. The compression the fuel can withstand before According to the department, most vehicles in

JANUARY 6 - 12, 2012

NATION

PM admits interest groups sway policymaking

By AN DIEN

forces them to do it in the fog, Kwakwa said. Analysts concurred that access to authority of special

information is the key to curbing the unwanted interest groups.

policy decisions are shrouded in secrecy Jonathan Pincus, a Ho Chi , the Vietnam Program at Minh City based economist with Harvard Kennedy School, said. the

In Vietnam too many public

HCMC

Tan Dung has become the second Vietnamese leader in the past three months to acknowledge the surging the policymaking process, arguing the issue.

Prime Minister Nguyen

foreign exchange reserves are a state secret. information. The activities of state state secrets, Pincus said. But how can we This should be

[The State Bank of Vietnam s] public

inuence interest groups have on for increased transparency to tackle These interest groups could

owned enterprises [SOEs] are [also] make SOE

managers more accountable if these information about their activities to the public? What is the point of being not given to the public? economic percent woes,

sway the decision making process [of the government], Dung wrote Year message.

companies are not forced to release

in an article conveying his New Dung has been the second leader

a public company if information is Experts have blamed Vietnam s ination including for 2011,

to point the nger at this pervasive on new economic reforms

nuisance since Vietnam embarked months ago, exhibiting the country s

18.13 on

three

excessive investment in inecient state owned gobble up capital corporations, and

determination to ward o one of the way of fullling the intent of the shakeup. Commi

toughest hindrances standing in the

from their core competencies into sectors such as property and stocks both of which have faltered. The government needs to come

diversify

which

At a meeting of the Party Central Phu Trong stressed

Nguyen

ee in October, Party chief to restructure the the

out with a plan to barricade itself from inuence of business interests but
A man (L) stands in front of an ATM while a homeless man sleeps in front of an advertisement on a street in Hanoi January 3. Prime Minister Nguyen Tan Dung has acknowledged the surging influence interest groups have on the policymaking process, calling for increased transparency to tackle the issue.
PHOTO: REUTERS

necessity the

economy along with overhauling three priorities: public investment, nance The enterprises. and growth model, chalking out

government also needs to take care and prosper under fair rules for all,

at

the

same

time

the

that Vietnamese businesses develop David Koh, a Vietnam analyst at the in Singapore, said. to But the bo analysts, the

state owned strategies,

planning, and policies must not be swayed by interest groups, Trong said at that time. Analysts have expressed

investment

their inuence dicult to trace. For hydropower accrue interested instance, golf projects, for courses only a

prots

which few to

and

fending o the inuence of interest That would ensure

groups, Dung wrote in his article.

World Bank together with other partners, pointed out

Institute of Southeast Asian Studies om line is, according existence

concern that the reform path, albeit face erce resistance because on

touted as a signicant step, could aims to loosen the grip powerful interest special political process. interests groups have the it

sprout up in the country despite widespread public outcry . The execution of transparency process] will

parties,

continue

government decision is made for the sake of the entire country . improving transparency in

every

although a great many laws call for reality information it is is o

that

certain information to be public, in dicult to obtain. payments Whether that en

inuence of interest groups is not foreign to Vietnam, or any other modern government. Basically , everybody

and

Vietnam has made great strides in many

and integrity [in the government decision making chance to enable the public to have more of a monitor

areas, but there remains a long way

to go, Victoria Kwakwa, the World Bank country director for Vietnam, said. The Vietnam Development by the

citizens or the misappropriation of funds in state owned enterprises, hard working people of Vietnam corruption forces the honest and to run uphill; lack of transparency

beset

the

rms

unocial

and

should know already knows such a thing exists in Vietnam, Koh said. Ultimately , only people to will

who

from behind the scenes, making

groups

They add that operate

agencies, playing a crucial role in

government

whatever the government says, but will government does. listen whatever

hear the

Report

2010,

prepared

VW

HCMC journalist arrested on bribery charges

By DAM HUY

evening On January 2, Ho Chi police arrested

HCMC Minh

Thanh District trac police ocers s Minh Hoa, a Phu Nhuan District causing public disorder. Under the

of

April

23,

2011,

Binh

Khuong asked a man named Ton with some police ocers to

newspaper for allegedly bribing a policeman. Khuong, They allege well that Nguyen

journalist at the Tuoi Tre (Youth)

City

conscated the motorcycle of Tran resident, for reckless driving and regulations, Hoa

That Hoa who had connections approach the Ward 9 police station, the police report says. Ton That Hoa introduced himself the police to verify

another conscated vehicle. He then called restaurant Khuong and to introduced come to the the

stories about the cop taking bribes from Tuan, the owner of the trailer truck.

reporter to the policeman.

penname of Hoang Khuong, 39, was involved in the case where Huynh Minh Duc, former ocer of division, was bribed to release a motorbike racing.

known

under

Van

the

would have his bike returned if he paid a ne and submi le er in which he admits

as Minh Hoas brother in law and asked review le er, but his request was the

motorcycle of his brother in law and the la release

Khuong asked Duc to release the er agreed. Khuong then the bike and its

police arrested Duc on charges of taking bribes and Ton That Hoa and Tuan on charges of mediating bribery respectively . and giving bribes,

On November 18, 2011, HCMC

ed a review

paid Duc VND15 million for the registration certicate, according to the police report. However, a er the bike of

wrongdoings and promises not to repeat his actions before a group of resident representatives in the area where he lives. The le veried instance, by Phu local police, in

his

turned down.

Binh Thanh District trac police s bike impounded in raid on illegal Police also arrested Nguyen Duc

acting as a middle man to help a caused an accident while driving a trailer truck, to bail the truck out. On June 25, 2011, Ton That Hoa

Ton That Hoa was, at that time,

er must be Districts this

man named Tran Anh Tuan, who d

released, Duc refused to give back the reasons not yet explained. Duc, asking him to registration certicate for

was

Police Department proposed that Tuoi Tre newspaper and the Press Department under the Ministry of

On November 28, 2011, HCMC

Information and Communications revoke Khuong journalist license s and review his work. The Tuoi Tre then revoked the er he was arrested, the paper

Dong Anh, Khuongs brother in law, on similar charges.

Ward 9 police division.

Nhuan

18 last year for allegedly taking bribes from a trac violator, a Khuong articles published in July . exposed his actions er in

Duc was arrested on November

his friend Nguyen Duc Dong Anh, an illegal motorbike racer,

In early June 2011, Hoa met with

met Duc (the trac cop) at a coee gave the la and er VND3 million in license, the

Ton That Hoa repeatedly called back to Khuong. give the He

shop in Binh Thanh District and bribes for releasing Tuans truck report says. driver s

certicate refusal would

Khuongs brother in law and also asked the la bike out. Minh er to help him bail his

threatened the policeman, saying result to return in his the actions certicate

license and suspended Khuong. A

and

police

According to the police, on the

Anh then asked Khuong to help Hoa. On June 13,

2011,

and Duc went to a restaurant to have

The same day Ton That Hoa, Tuan ,

accepting bribes) being exposed in the press. The police report says that a

(of

and Khuong family hired a lawyer s to defend Khuong. articles police about Khuong has wri ocers

a drink and Hoa asked Duc to free

Duc ignored the threat, Khuong ran

er

newspaper.

for

wrongdoings the Tuoi

en around 50 Tre of

VW

NATION

JANUARY 6 - 12, 2012

India gazes east toward strategic Vietnam

By TRUNG QUANG

Vietnam did n revived Camb

Genocidal Khmer Rouge regime was backed by the foreign policy episode

growing steadily.

HCMC - Vietnam occupies a

strategic position in Indias Look East policy, Indian Minister of State for External Affairs E.

bilateral trade and economic and cultural cooperation were still below potential.

But despite the achievements,

exclusive interview.

Ahamed has told Vietweek in an India deeply valued Vietnams

content to the strategic partnership forged in 2007, especially in the technical, and cultural fields. economic, commercial, scientificBoth sides have set a revised India had set up a short-term

We stand ready to add more

support for the ASEAN regions India sought to create an arc of

closer engagement with India as mutual advantage in the region, Vietnam in connection with the 40th anniversary of the

trade target of $7 billion by 2015. T agore Chair for contemporary

said Ahamed, who is on a visit to

Indian studies at the University of Social Sciences and Humanities in Ho Chi Minh City.

establishment of bilateral relations, of the establishment of a strategic partnership between the two countries, January 5.

January 7, and the fifth anniversary

in the mid-20th century, was an Indian genius who wrote the

Rabindranath T agore, who died

US in shameful

exchanged high-level visits,

Vietnam and India had regularly

national anthems of both India and Bangladesh, painted prolifically, composed brilliant music, and wrote poetry, novels and plays winner of the Nobel Prize for literature.

including, in the last five years, by their respective presidents and prime ministers.

to become the first non-European

By MINH NAM TAN TU AN DIEN

bilateral trade had grown nearly 14 times by 2010. The Indian corporate sector had

From US$200 million in 2000,

HCMC

Airways had signed an MOU for the commencement of direct flights in 2012, Ahamed said.

Vietnam Airlines and Indias Jet

Minister Hun Sen has categorically

Cambodian

Prime

rejected the notion that Vietnam invaded the neighboring Southeast Asian kingdom in the 1970s, saying

a growing interest in investing in

and doing business with Vietnam, looking at it as a hub for reaching out to the entire ASEAN region. Indian investments in Vietnam,

the countrys leadership in Hanoi and HCMC. He will attend receptions

The visiting dignitary will meet

Vietnamese soldiers had sacriced Cambodian country . people and

their lives for the survival of the the

spread across sectors like agroprocessing, petroleum, IT -

organized in both cities and the

education, steel and carbon black, exceeded $400 million and were

opening of the Institute of Indian Hanoi.

meanings of the word Vietnam. In and development of Cambodia, he in Dong Nai Province a er

I myself cannot explain all the

and South West Asian Studies in

brief, Vietnam means the revival said at a press brieng on January 3

VW

Sole rescued sailor floated in open ocean for 5 days

(Continued from page 2) sinking ship creates intense suction making Hungs survival a miracle.

ceremony to launch a monument for Unit 125 the earlier day . Founded by Hun Sen, Unit 125 movement of prior to

was the initial force of Cambodia s resistance for

the founding of the United Front Salvation Cambodian

Nguyen Que Duong, a Vinalines official and a former ship captain, said a Nguyen Anh Vu, general director of the Vietnam Maritime Search and Rescue

Motherland on December 2, 1978 that genocidal regime. mark what eventually defeated the

Co-ordination Center quoted Hung as saying the ship straightened after listing to , one side. But it listed a second time and sank quickly, he said, adding it might have hit a Vinalines Queen, one of the largest vessels owned by the state-owned Vietnam

The monument was launched to would be the

large object.

anniversary of the ouster of the Khmer Rouge regime on January 7. said he wanted to express At the press conference, Hun Sen

33rd

established

between the Royal Government of to try senior members of the Khmer Rouge.

under

an

agreement

religion.

National Shipping Lines (Vinalines), lost contact on December 25 when it was at 20N and 123-47.1E, northeast of the Philippiness Luzon Island. Since then foreign rescue forces have been searching in vain for signs of the

thanks to Vietnamese veterans and

his

Cambodia and the United Nations

wanton executions, overworking of

Its

brutal

practices

of

the population and starvation are estimated to have wiped out some two million people from 1975 1979 them out of power.

ship, which had been on its way from Morowali in Indonesia to Ningde in China with 54,000 tons of nickel ore. They merely found an oil slick near the site, and called off their efforts on December 29, a day before Hung was rescued. Hung, believed to be the only survivor was picked up some 350 kilometers ,

war martyrs who sacriced for the survival of Cambodian people and the country .

in 1998 without facing justice but the surviving regime s members, four most accused

Khmer Rouge leader Pol Pot died senior

before the Vietnamese army drove In the book Hun Sen: Strong man

from the spot where the Vinalines Queen was last heard from, according to Vinalines.

former Khmer Rouge leader at a

Commenting on accusations by a

trial last month that Vietnam had invaded Cambodia in the 1970s, to respond to such Hun Sen said it was not necessary words.

genocide, war crimes and crimes against humanity nally went on , trial in Cambodia late last year.

of

of Cambodia, authors Harish Mehta and Julie Mehta wrote that Hun Sen was very angry when asked about

company had been late in responding.

Nguyen Canh Viet, Vinalines general director rejected accusations that the , It is common to lose communication with a ship. We only ask for rescue

deceitful genocide crime.

defendants in the tribunal Case s 002 together with Ieng Sary Khieu , face charges of crimes Samphan and Ieng Thirith. They humanity grave breaches of the , genocide, according to the tribunal s website. Led by Pol Pot, who died in 1998, extreme policy to designed utopia against

Noun Chea, 85, is among four

Vietnam invasion of Cambodia. s press conference, people to Hun Sen

Reminded of the anger at the had

efforts when we get an SOS. So far there has been no [SOS from the Vinalines , Queen] via satellite. The ships captain had been properly trained, had three years experience and It was Vinalines most serious disaster to date, he said.

(perpetrator) defending himself in an eort to evade the

The

killer

and

some

described invasion. such

assistance

Vietnam s

wrongly as an

said

Cambodia

military

had reported a 20-degree list [before they lost communication], he said.

Everybody knows our country used [now] said. we and the world

system that sent out emergency signals in dangerous situations allowing

The ship was built in Japan in 2005 and had an advanced self-protection

to have a genocidal regime and opened a trial against them, he The Extraordinary Chambers in as the Khmer

Geneva Conventions of 1949 and

I am ready to strongly reject any allegations.

have

presence in Cambodia was to meet

Vietnam s

rescuers to detect its location even if it was under water the company said. , said.

But since it went missing, Vinalines Queen had not sent any signal, officials Vu said his agency had expanded the search area to certain coral islands to

the Khmer Rouge regime pursued an establish forced an urban

a demand of Cambodian residents

the Courts of Cambodia, commonly known Tribunal, is a national Rouge court

the north of Luzon.

VW

abolished

people

money

and

leave

outlawed

cities,

that

to

and for their survival Has any country helped Cambodia as much as Vietnam? No! Only Vietnamese people and army helped Cambodia when it faced the worst diculties.

JANUARY 6 - 12, 2012

NATION
The United States supported

odia: Hun Sen

ot invade, but

China and the genocidal Khmer Rouge against Vietnam s liberation UN to keep of Cambodia, e.g., by lobbying the Kamphuchea s seat at the UN and lobbying ASEAN to form a united front against Vietnam

Upcoming events
American Chamber of Commerce JANUARY 10 (TUESDAY): The

Democratic

Cambodia, he testied at the time. active duty in the US Army serving , by post war stints with to the Sauvageot had nine years

in

a Joyful and Successful Life from 8 a.m. to noon at the New World Hotel Saigon, 76 Le Lai Street, Micheal Lavin John Robert District 1, HCMC. Speaker: Prof.

Emotion Control - the Secret of

will hold a Breakfast Briefing:

of

in Vietnam from 1964 73, followed government He said service

political analysis. critical because from

provide was

US

Powers School. Admission fee: VND750,000 for AmCham non-members. members and VND1 million for

Vietnam s with

unilaterally , support

Vietnam the

role

Union. The reality is that Vietnam

only

diplomatic Soviet

acted

EuroCham Business Luncheon on Compensation Trends to Retain T wers Watson Salary Survey and o

JANUARY 10 (TUESDAY):

and only Vietnam saved the Khmer people from the genocidal, Rouge, he told Vietweek. maniacal rule of Pol Pot Khmer s It was the heroic, but humane er quickly overthrowing Rouge closed eective the

to 1:30 p.m. at the Sofitel Plaza

T lents will be held from 11:45 a.m. a

Saigon, 17 Le Duan Boulevard, Bob Charles, Regional Leader ,

People Army of Vietnam (PAVN) s which a the January Khmer 7

. District 1, HCMC. Speakers: Mr . T owers Watson Asia Pacific and Mr

chambers/death camps such as Tuol Sleng, stopped the mass killings, opened a path for a new

1979,

torture

T owers Watson Vietnam Admission fee: VND750,000 for EuroCham non-members. For registration, contact Ms. Thuy at events(08) 3 827 2715. hcmc@eurochamvn.org or call members and VND1.05 million for

Le Kinh Luan, Senior Consultant,

known as the killing elds and Cambodian government under the leadership Hun Sen which eventually would be strong enough to insure that the horror and terror of the of Heng Samrin

and

Rouge could never again return to Cambodia. He said Vietnam, even though it of ghting into and for

Khmer

Haydn Night, with conductor

e A VNSO New Y ar Special Concert,

JANUARY 11 (WEDNESDAY):

HONNA T etsuji, piano soloist

was still impoverished itself from years independence shipped had food freedom, its

Nguyen The Vinh and the Vietnam National Symphony Orchestra will House, 1 Trang Tien Street. begin at 8 p.m. at the Hanoi Opera Tickets, priced at VND200,000,

help Cambodians whose harvest necessary deployment of PAVN to end the horric rule of the Khmer Rouge. been disrupted by the

Cambodia

to

350,000 and 500,000, are available at the Hanoi Opera House or can or ticketvn@gmail.com. For free be booked at www.ticketvn.com

the Khmer Rouge raids as part of its strategic a

He alleged that China was using empt to force Vietnam

delivery of tickets, call 0913 489 858 or 0983 067 996.

to distance itself from the Soviet Union and accept being a satellite in the Chinese Orbit. Being also

believed Vietnam would not dare

PHOTO: BLOOMBERG

will be held from 8 a.m. to 6 p.m. at the Sheraton Hotel Hanoi, K5 Nghi T am, 11 Xuan Dieu Road, T ay Ho District, Hanoi. An audience of more than 200 government

Summit - Finding a way forward

Economist Conferences Vietnam

JANUARY 11 (WEDNESDAY):

do anything to counter their Khmer Rouge allies. in Sadly , the US my friends/colleagues Khmer And

The skulls of Khmer Rouge victims are displayed in a memorial to the genocide at the Killing Fields Museum outside of Phnom Penh, Cambodia. Cambodian Prime Minister Hun Sen said Vietnam had saved his country in the 1970s, not invaded it.

by Pol Pot, why cant we ask for

Many of our people were killed

Washington that the Vietnamese might stopping also the be responsible genocide in

Vietnam assistance? Whenever we s became stronger, Vietnam would withdraw reality they withdrew in 1989. They , 20 years, he said. Enemies: The of its military force. In

for

Vietnam. to

the

I believe the American reaction Vietnam s was of the invasion Khmer of

Chinese, were

same all

American wrong.

thing.

government

believed Rouge,

assessments frankly

representatives, business leaders, politicians, policy-makers and academics will convene to

Cambodia, he said.

have not been present for more than Edwin Martini, author of Invisible American War on

July last year, Martini pointed out that the US was providing all these supplies they called and the materials to

In an interview with Vietweek in

overthrow regime

shameful episodes in US foreign policy a Vietweek. er 1975, Robinson told

one

the

Rouge most

and

I predicted that at the time, he said. did not want to go into Cambodia According to Sauvageot, Vietnam

exchange perspectives at this highlevel gathering. Prime Minister Nguyen T n Dung has confirmed a

and had tried hard to persuade China to quit supporting the Khmer tried to persuade Khmer Rouge to stop the raids so, he added. Rouge but to no avail. Vietnam again could not do for

his participation and will deliver the summit keynote address, according to EuroCham. Admission fee: US$1,890

Vietnam, 1975 2000 and Associate Professor Michigan University said the US , had backed the Khmer Rouge and Cambodia. blamed Vietnam for the invasion of The long term US position on History at Western

resistance when everybody knew full well that most of those supplies going to the Khmer Rouge.

non communist

what

support the Khmer Rouge at the United I believe the hard liners won the debate and wanted to punish Hanoi four years before with its a for the way the war had ended only the Saigon regime, he said. Nations for many years.

What s more, they continued to

(Standard), $1,510 (Economist subscriber rate), and $1,320 members rate). EuroCham (Economist Corporate Network members are eligible to get a 25% discount off the standard rate for this event. Register at

and most of those materials were There s certainly a recognition

Hanoi to protect the freedom and deploy PAVN s heroic young

So only course of action le

among most scholars and historians that Vietnam played a signicant role genocide and that the invasion was provoked by the Khmer Rouge, he said. in ending the Cambodian

ack on

independence of Vietnam was to soldiers into Cambodia. to go into

blaming Vietnam for the invasion of

Cambodia, and the Third Indochina War in general, really was made permanent during the Reagan

of the US Army had referred to US s support for the Khmer Rouge at the before the Subcommi Asia Commi and Pacic ee on East of time in his statement at a hearing Aairs the

Retired Colonel Andre Sauvageot

Hanoi not only did not want Cambodia, the

Party/Government did not want to remain any longer than necessary to (and Chinese supported

www.economistconferences.asia/e vent/vietnam-summit or contact Alice Wong, Client Relations 2585 3312 or by e-mail at

administration of the 1980s, he told Vietweek. There was, simply no sense in ,

correspondent in South Vietnam during the 1968 75 period, shared similar views about the US blaming

Carl Robinson, an Associated Press

insure that the Khmer Rouge terror into Vietnam) could never return, he said.

March 2008.

ee on Foreign Relations in

raids

Executive, by telephone at (852) conferencesasia@economist.com.

VW

NATION

JANUARY 6 - 12, 2012

The surgical

team is headed by US surgeon McKay

Doctors operate on mans 90-kg tumor

McKinnon who is reputed to perform complex surgeries on by major patients refused hospitals
By MINH HUNG

HCMC

has a 90 kilogram tumor will have surgery to remove it a

A Vietnamese man who er all, with an

American surgeon with a reputation for successfully performing surgeries in cases rejected by major hospitals arriving in the city for the operation. doctors at the Ho Chi Minh City based Tumor Hospital had McKay McKinnon, of Chicago, and two

months ago called o a proposed surgery on Nguyen Duy Hai, 32, of the Central Highlands province of eusion, life. which could

Lam Dong saying he had pleural respiratory failure and threaten his Nguyen Duy Sang, Hai s was on cause

younger moved

December Tumor [a

to

brother, 28. the

change in hospital, he said: Hospital did not

Asked

FV

said

Hospital about

Hai

McKinnon to perform the surgery er examining Hai].

allow

The

the
PHOTO: FV HOSPITAL

Nguyen Duy Hai, 32, has suffered from a large tumor that has recently grown to more than 90 kilograms. Chicago-based doctor McKay McKinnon has decided to conduct a surgery for him.

examined Hai and found him in good enough health for the surgery . He [McKinnon] said the chance

On T uesday (January 3) McKinnon

American doctor to help Vietnamese suffering from rare tumors

Chicago - based doctor McKay McKinnon met with doctors from Ho Chi Minh Citys Cho Ray Hospital on suffering from rare tumors. school, she has lived quietly and alone with no friends, depending on her mother to attend to her basic needs.

number

surgeries. In 2000 he removed a woman 200 pound (91 kg) tumor s worldwide a O in an 18 hour operation that drew USA T oday newspaper.

of

tumor removal

of a successful operation is only 50 percent, Hai told Vietweek. I decided to take a chance

Tuesday (January 3) to discuss treatment for two patients A source told Vietweek that McKinnon will consult with On December 24 hospital doctors persuaded Thach

Highlands province Lam Dong was admitted to Cho Ray Hospital on December 26 for treatment of her facial tumors.

In the other case, Kieu Thi My Dung, 22, of the Central

ention, according to

because it is terrible staying in bed round the clock. (NF 1), Hai has neurobromatosis type I formerly known as von

doctors from several departments at the hospital.

from 80 kg in May to 90 kg and may

awa said Hai tumor grew s

Thi Sa Ly, 35, to leave her home in the Mekong Delta province of Soc Trang and receive treatment. home.

she was three months old and the tumors have now spread to cover nearly half her face.

Dung developed small tumors on her eyelids when

aect his health and even cost his oers his greatest hope. even with cases that

life, and that McKinnon surgery s McKinnon has been successful had been

Recklinghausen disease, a human genetic disorder. Nguyen Thi Cho Con, his 61 year

Previously, the woman was reluctant to venture far from Ly has thousands of small tumors covering her body,

because her family is also too poor to afford medical fees. Le Minh Hien, head of Cho Ray Hospitals Charity

Dung has lived with the tumors over the past years

old mother, said Hai, the fourth of but his health deteriorated as he became older.

refused by major hospitals in the may not be admi ed to

her ve children, was a normal child

including her eyes, nose and face. The tumors have and avoid her.

US, he said, adding it means Hai hospitals even if he wants to be treated there.

grown like lumps on a tree, causing people to be afraid Thach Thi Sa Phay, her 63-year-old mother, said Ly

Medical Unit, said the hospital has not collected any raise donations for them.

US

money from Ly or Dung and has instructed his unit to An entrepreneur in Da Nang has agreed to donate

grew much bigger than the le and he could not walk.

When he turned four, his right leg leg

was born normal like her seven brothers and sisters, but started developing small lumps on her back when she was one year old. The older she grew, the size and quantity of the tumors increased.

a pair of crutches but dropped out at the age of 11 due to the problems caused by his oversized right leg.

He managed to go to school using

Wednesday.

VND200 million (US$9,512), he told Vietweek

Foundation International helps Hai McKinnon s Vietnam. agency ight tickets

The Florida, US based Tree of Life

with daily expenses and funded to

so Ly had to live with her condition. T oo afraid to attend

Sa Phay said the family could not afford medical fees,

contribute, call Cho Ray Hospital (848) 3 855 2486 or Hien directly at (84) 909 790 704.

Hiens unit is accepting donations for Ly and Dung. T o

VW

California based entertainment

swollen to 25 kilograms, but local problem. A er

By the time he was 17 his leg had

doctors were unable to diagnose the the growth immobilized

and has continued to grow ever since, bu ocks and back. covering portions of his

question a

away in 1997 and the family became Chau, who lives in the US, she said.

er her husband passed

Samaritans Sam O

Entertainment, which is making a documentary helped him with the rent for an apartment in District 2. on Hais surgery,

Morningstar

Hai, they decided to amputate his leg at the hip. A er the surgery Hai had several ,

and weighs around 90 kilograms (198 pounds). It causes him terrible pain when

It is now more than a meter wide

dependent on her eldest daughter Hai has told the media that if the learn a to repair

a charity that connects people with rare and dicult medical cases with treatment, doctors a refusal. helped

awa, a Canadian running

tumor is successfully removed, he will appliances and mobile phones to make mother. living and support electronic

doctors in Vietnam and abroad for

happy years when he could walk with the help of crutches, his mother said. But the tumor returned in 2001

the weather changes and he relies on painkillers, Con said. But surgery became out of the

McKinnon with other Vietnamese er the Tumor Hospital s has performed

connect

around 6:30 a.m. yesterday (January 5) and the surgery was expected to take 10 to 12 hours. surgery is Complete information about the available on

Hai entered the operating room at

his

McKinnon

website, www.thanhniennews.com.

Vietweek s

VW

JANUARY 6 - 12, 2012

NATION

and together with another that Tuan

gave her, she won a total of VND3.3

billion. She gave some money to her parents to build a new house back in Dong Thap Province, also in the continue selling lo For be ery tickets.

Mekong Delta, and said she will

money for his son without spending or allowing it to change his life for be er or worse. in a

Tuan

er or worse said he

would

save

the

money

Although he had deposited the very local cautious bank, in he

seemed

with any stranger. si

talking

still

Last week, Vietweek found him ing at a roadside caf next to his

house to monitor the construction work. He pretended to be his twin brother until the reporter

introduced himself and the purpose for the visit. Tuan is the youngest of six

brothers and sisters and has no twin brother. Tuan said he would

spend all the winning money like

PHOTO: NGUYET THANH

never

the

Do Ngoc Tuan (R), 42, of Long An Provinces Ben Luc Town won more than US$300,000 after buying unsold tickets from vendor Pham Thi Lanh (L)

Nguyen Van Het in Ho Chi Minh City District 11, who lost almost all s his money a billion ($405,333) in February 2010.

poverty stricken

98 year old

Lottery winner takes prize in his stride

tickets, which is his only hobby . how he bought the tickets and ery for the 20 tickets he had promised to buy . Tuan thought Lanh was joking er delivering some

er winning VND7.6

money away to charities, the local of people claiming told to be

Het has told reporters he gave his

government and an endless parade relatives. A

his on

Monday that Het is living his last days in poverty again with a niece, a distant relative, in Go Vap District. He has only some

neighbor

Vietweek

Honest

vendor reaps handsome reward

By MINH HUNG

year old child and Tuan 81 year s many years, they had

The couple lives with their eight

learnt of his winning.

million ($4,755) intended to spend

VND100

old mother. Using their savings over ground recently to build a

broken new

vendor Pham Thi Lanh, 29, phoned her requested him to buy 20 tickets, as regular patron Tuan

At 4 p.m. on November 15, lo

for his funeral and burial, she said.

and

but he still drove to the caf on his three wheeler a

that he has not seen Het over the past months and that they would soon. update Het address in Go Vap s He has no money now. What to said when of

A local police ocial conrmed

concrete house on the same place where they lived, a plot of four meters by 15 meters.

she usually did whenever she was

iron bars to a nearby construction ticket a Lanh er taking the others and the winning lo

unable to sell all the tickets before

site. He gave Lanh one winning paying for them. said

construction of my house even a winning the lo

I have made no changes to the ery , he said when er

the results were announced at 5 p.m. everyday She only informed . him of the last two numbers of the six digit tickets.

tickets were not hers because she had promised to sell it to Tuan. buying all. A my tickets that

ery

write about him then? the police ocial requested residence. details to his Vietweek new Het,

BEN LUC living

carrying construction materials. although VND6.6 he won a

driving

Do Ngoc Tuan earns his a

three wheeler

asked if he wanted to expand the one story house.

checked the results and found that including four with the

An hour later at a caf, Lanh

He has always helped me by way

He has no plan to change that billion (US$313,840)

whopping

Money isnt everything

13 of the 20 tickets won big prizes, prize money VND1.5 billion each. , many .

November 15 in a lo

past 15 years and there will be no able to work like others. The money

That has been my job for the

ery jackpot.

on

such a change in his fortunes has made winning itself. the news as much as the

Tuan equanimity in the face of s

highest

whenever I was unable to sell them

psychologist Giau be er said

Referring

What Lanh did next surprised She just phoned Tuan to come to

won anything, he just paid me the his. What would people think about

er nding the tickets had not

money The [winning] tickets were .

negative

plans

winners to

Nguyen

Tuan

inux of big money .

impacts

avoid of

should the

Thi

and

possible sudden

make

Ngoc

change. I am in good health and is for the future of our children,

Just as impressive is the story of

the caf and pay her VND200,000

me if I kept it for myself? she said. Lanh herself had a winning ticket

will be decided by their thinking and a money , she told Vietweek.

Their life, future and happiness

itude toward the winning

said the 41 year old man in Long An Province Ben Luc Town in the s Mekong Delta. equally His wife Pham Thi Han in was

Employee to sue boss for

Tran Nam Phuc of Long An

He also told reporters that the

tickets had not won anything and they did.

we should avoid being shocked by well to have a healthy physical and mental life. feel pity

Life is changing all the time and

stealing winning lottery ticket

Provinces Hydro-meteorological Center has petitioned authorities for moonlight at Binhs pho (beef noodle soup) restaurant as usual to earn some extra money. After a working day, Phuc came to

that he would never have taken it if Phuc reported the matter to the

such changes and instead adapt

comment on the windfall: That s good. Han works at a local ba company earning a li le more than ery

understated

her

local police and was directed to T an An T own Peoples Court that handles civil disputes.

In Het case, she said people may s for him for

almost all the money but he was old ,

spending

justice, accusing the centers director , his lottery ticket that won VND1.5 billion ($71,327).

VND4 million ($190) a month. She used to work harder earlier, selling but for less income. between chicken and ducks at a local market, Together with my earnings of VND300,000 a day , o we have and

Truong Huu Binh, of misappropriating

check the result of his two tickets. He only informed Phuc that they did not win. The ticket vendor came to the

There, Binh offered to help Phuc

that Binhs wife had given him

On Tuesday, Phuc told Vietweek

and might not have cared much about his future when spending all but a small amount for his funeral. money be

VND30 million and asked him to write a paper saying he saw her picking the ticket from a trash bin, which means she was the owner of the ticket. Phuc said he had taken the

Giau also said Tuan could use the

2, 2011 when Hoc, an employee of a local company, visited the center to obtain hydrology statistics. Hoc

The case happened on December

earning greater returns. is in use. Wasteful

er by investing it and

center later in the day and informed the staff about the winning ticket. ticket but Binh insisted that the Phuc asked Binh to return the

Money is only valuable when it spending

VND400,000 adding

managed a good life, Tuan said, signicant that amounts he en on spends lo ery

to centers employees, including Binh and Phuc.

bought lottery tickets and gifted them

money and would use it as investigation.

dangerous in such cases, but it is also not a positive approach when the money is not invested wisely , she said.

is

tickets he checked had won nothing.

evidence in asking for a police

VW

NATION

JANUARY 6 - 12, 2012

Personal vehicle fee proposal greeted with skepticism

A Transport Ministrys proposal to impose personal vehicle fees draws mostly
to manage vehicles since people will register In provinces. motorcycles when in other

licensing motorcycles in some inner

2003,

HCMC

halted

districts, the number of registered saw sharp increases, they said. Vo Kim Cuong, chief of

motorcycles in suburban districts the

HCMC Scientic Research Program

on Urban Management, said the fees would place a burden on poor doing small businesses. responsibility he said. It is the to people, who use motorcycles for Transport Ministry s trac

negative reaction
By PHUONG THANH

HCMC doubts

recent proposal by the Ministry of Transport vehicle fee as part of eorts to clear clogged streets in major cities. proposal The ministry to the submi ed to charge a

over

Experts have expressed the feasibility of a

congestion, not the poor people s, Hoang Duc Hau of

reduce

personal

Bridge and Road Association said the solutions to curb trac congestion and reasons,
PHOTO: DIEP DUC MINH

Vietnam

ministry forge

is

still

groping the

for

week, seeking to collect the so called personal vehicles circulation fees. in ve centrally governed cities Can Tho and Hai Phong Under the proposal, motorbikes
skepticism about its feasibility to reduce traffic congestion in major cities.

government

last

the

infrastructure and poorly invested

Traffic congestion on Ho Chi Minh Citys Xo Viet Nghe Tinh Street. A Transport Ministrys proposal to impose personal vehicle fees has drawn

like

ing

crumbling

about

trac

main

public transportation system. solve trac problems. Transport Minister

It takes a long term strategy to Dinh La

Hanoi, Ho Chi Minh City Da Nang, , have to pay between VND500,000

would

the Vietnam Register, a state owned body transportation quality and safety . fee collecting stations. in charge of

checking

transport

invested in, they will still pay to drive their bikes and cars, he said. Vietnam, with 88 million and

system

is

still

poorly

of

Consultants in Science Technology and predicted would rush Management worsen cars if the trac (HASCON), and a situation to

the

HCMC

Association

of

Thang said at a January 3 press conference on personal vehicle fees would be used projects He trac related aimed that at that money from

VND1 million (US$23.7 47.5) per year, while cars would be asked to pay million yearly ($951 2,370). Meanwhile, cars, between VND20 VND50 with

The money will be collected at Nguyen Huu Nguyen of South

population, has around 32 million registered number has increased by 10 percent over the past few years. motorbikes the

in

exception of public transportation to pay fees of between VND30,000 VND50,000 (US$1.4 2.4)

the

Vietnam Economic Studies Center solution number would of help reduce

(SVEC) said he was not sure the personal

charge I

hours

before the

vehicles and buses, would also have when

especially

entering local city centers in the country during rush hours 6 a.m. to 8 a.m. and 4 p.m. to 7 p.m. every weekday except for holidays. ,

bikes have for long been the most Vietnamese people. people If the will

motorcycles,

vehicles, because

the

only well o people can aord cars,

Nguyen noted that in Vietnam,

centers is approved. think car

entering users

proposal local

er

infrastructure

city

congestion and accidents. said similar

reducing fees are

since the car prices here are usually two to three times higher than those in other countries. Those people will not leave their save a just li le amount

entering city centers during rush and a er the designated rush hours.

will

avoid

collected in countries like the UK, while those programs have yet to completely helped congestion and accidents, they have countries, he said. reduce them in eliminate trac

Sweden and Singapore and that

hours. They will just do it before Congestion will not be eased,

eective transportation means for proposal is approved, choice and

fees for cars would be collected by

Under the proposal, circulation

between

public transport, but since the public

personal

consider

vehicles

the

cars at home to take a bus in order to money , he said.

but will be moved from this time to another time.

those

of

Vu Duc Thang, deputy chairman

proposal to charge motorcycles in the ve big cities will make it harder

Some experts predicted that the

VND500,000 fee, he will have to said.

If a person resists to pay a

pay a VND5 million ne, Thang

VW

HCMC police bust fake ATM card ring

HCMC have Vietnamese and three Malaysians for allegedly using fake ATM cards to banks. ring. withdraw They are money believed from to be arrested Ho Chi Minh City police four men one the information on them. banks and cardholders locations and time spans as well as similar features of the persons who were withdrawing money from the ATMs, Thach. and were able to money withdrawal from ATMs of various banks, They also found 28 receipts of including the hotel room and arrested two They seized 13 credit cards from catch Malaysian men Yeap Poh Boon staying in the room with Boo at that time. and Looi Haw Yang who were

they

er they arrived in Vietnam, were provided and equipment with

accommodation

used to make fake cards.

other gang members at local hotels or restaurants to receive roughly made ATM and credit cards.

The men were then told to meet

local

members of a transnational crime The rst arrest, of Co Kim Thach,

Techcombank, Sacombank and Asia Commercial Bank. commercial Earlier in December, banks some in

met a Singaporean national named Cheng one month earlier. gave him some ATM

Thach told to the police he had

a 39 year old resident of District 5, was made on December 30, 2011. At around 5:45 a.m. on that day , belonging to the

international

HCMC had reported to the police money missing from their ATM accounts.

bank

branches

and

On December 28, 2011, Cheng cards

using a fake passport. His real name 22 year old Malaysian national. ATM and credit cards,

Police then found out Boo was

with the information about the card serial numbers, banks

Meanwhile, they were provided

Thach withdrew money from an ATM Commercial Bank on Binh Thoi Asia

that their customers were nding

asked him to withdraw money for 0.1 percent commission. Thach withdrew VND18 million Two days later, Thach continued work. He withdrew

and

was Loi Haw Shyan and he was a Police seized more than 40 fake used for making laptops, ATM

cardholders as well as PIN numbers via telephone. A er that, they used the

and

equipment provided to print the card cardholders and banks on the cards. like Thach to withdraw money . They then sought to hire people numbers, the names

Street in District 11. He was caught by the police when he walked out of the ATM booth. VND40

usually made between 4:30 and 6:30 a.m. at ATM booths in District 11. locations where the

They said the transactions were

and was paid VND800,000. his

printers

of

cards, ATM card reader devices and other equipment from hotel rooms men had stayed.

The police conscated more than million in cash and

The police then checked all the

VND40 million and was arrested. arrested Cheng, who used

some

and apartments where the three The Malaysian men said they by a Malaysian in

roughly made ATM cards, which did not have the names and logos of

23

were made and kept a close watch on cameras in the ATM booths. They identied some

transactions

Based on his testimony police , passport under the a

withdrew money from ATMs in Hanoi, using fake cards with the information HCMC. Police of cardholders in

According to police, the men also

Singaporean

brought fake ATM and credit cards provided leader to Vietnam late

frequent

name of Luis Khoo Boo, 29, at a hotel in District 11.

gang

November 2011.

investigations into the case.

are

extending

VW

JANUARY 6 - 12, 2012

EXPAT LIFE

Fte Tet-foreigners focus on the good, the bad and the ugly

World CEOs to

discuss business sustainability in Hanoi

The British Business Group in Vietnam is supporting a CEO world forum on sustainable 12. business in Hanoi on January The CEO Word Forum 2012

will focus mainly on two topics: global business solutions for business

development trends, and challenges in Vietnam.

be top managers of multi

Participants in the forum will

national companies in ASEAN, economic nancial councils, high ranking ocials from Vietnam and leading

academics from well known Members will get a 50

universities around the world. percent discount on the

conference pass, which costs VND4.9 million (US$233) a person.

Sheraton Hotel from 8 a.m. to 5 p.m.

The forum will be held at the

VW

HCMC to hold networking

EuroCham monthly
The European Chamber of

Commerce in Vietnam will

hold its monthly networking Minh City .

night on January 11 in Ho Chi The event will be held at the

Hai Nam Building, 2Bis Cong Truong Quoc Te, from 6 to 8 p.m., serving drinks and canaps.

(US$12) for members and

Entrance costs VND250,000

VND350,000 for non members.

PHOTO: LUU QUANG PHO

VW

Visiting temple, pagoda and other relics is a favorite custom of expat who stays in Vietnam during Tet

By LAN HUONG

T
and

said the foreign

community in Vietnam, the that run from

et.

Among

Manager of La Residence Hotel &

Anthony

Gill,

General

year from themselves and offer up themselves. a bright new version

Spa in Hue. As a courtesy, one doesnt want to decline a friends hospitality, matter, we all have to get up the next day for work. And therein lies the rub. Here is but as a practical

of

closed day after day. country. He loves

AmCham hosts talk

sense of

This Tet will be Gills fifth in the that enlivens the

on using emotional power

emotions

word summons a range of the

a little bit different look and feel during Tet, The Nam director of sales and marketing of especially Hai like in to Hoi An. decorate said Albert Lafuente,

Our resort definitely takes on

community

season, loves to dole out the li xi (lucky money), and loves his first memory of a Tet in Vietnam when

the

Emotional control for leading a joyful and successful life will be the topic for a breakfast

wonder of it all to downright fear loathing. For

hoteliers, the emotional response

upscale

is even more complicated as they struggle to meet the demands of and weeks in advance of staff who drift from work days

the elephant in the room. If youre

male, and a foreigner, the peer be relentless. Others feign liver problems as a hedge against the inevitable demands to drink. I frequently suffer a relapse of 1993, said Jim pressure to mot hai ba yo at Tet can

dining areas, the open lounge and

the

We

he and his wife had dinner with Minh City.

brieng held by the American Chamber of Commerce in Ho Chi Minh City on January 10. The event will discuss how

singer Ho Ngoc Ha in Ho Chi Ms. Has celebrity seemed to

the Kids Club, which as you can Tet among our younger guests. family hotels Because traditions, Tet is so and rooted

holiday itself to the demands of guests caliber of service, no matter the holiday. expats, Some hoteliers, the like many Tet, who expect the same

the

imagine is very popular during in

add some luster to the spirit of the really dimmed for me, he said. revels up Lafuente, more on in the the other

personal ability combined with , the power of emotion, can help people lead more fullling lives. The brieng will be

holiday, and that luster s never hand,

the Hepatitis A I picked up in Hue in

steering for the likes of Bali and Thailand beckons. Others the of where a give the in to beach that the the

flee

country

at

managing director of Mandarin Media. Once you move a past the

Sullivan,

Vietnamese clientele base wither

generally

watch

home,

their

during Tet. Vietnamese who fly in from abroad tend to put up with family, Metropole and the Caravelle. Gill. Despite the not the likes of the

similarities to the ones he grew Philippines: Christmas and New Year s. relatives. reserved I Spending in Exchanging one dishes time time celebrating most in the

holiday s

conducted by John Robert network engaged in the

Powers school, an 88 year old business of teaching personal

elephant, however, the season of Tet can be

doldrums recreates

Vietnamese

rampant go pace of life as usual and here in its place are flowers, friends and license to indulge.

city.

character Gone

holiday

is

of

experience. The jasmine scented air. The glow of kumquats hung preternaturally vivid colors from their boughs like bulbs. The cherry blossoms. And the general bonhomie of people who really do try to scrub the grime of the of

marvelous

Were really busy at Tet, said weather, January

gloomy

sometimes and

Indulging

February are the high season for international in of our guests are quite well versed wonder traditions why all of the Tet. shops travelers.

Those sorts of things. heartwarming, find such

for

typically of

gifts.

with

development. The speaker for yet.

the event has not been revealed Held at the New World

year.

Some

The indulging can be tough,

Others

who is gearing up for his third Tet. closer to home.

said

traditions

Saigon Hotel from 8 a.m. to 12 p.m., the event will cost VND750,000 (US$36) for

Lafuente,

are

They enable me to feel a little

AmCham members and VND1 million for non members.

VW

VW

10

ECONOMY - FINANCE

JANUARY 6 -12, 2012

US$15 billion to US$16 billion of 2012, the government said in a targeting disbursed FDI of $11

Vietnam will target attracting

pledged foreign direct investment in

statement last week. The country is billion this year. According to the

Foreign Investment Agency of the

Ministry of Planning and Investment, disbursed FDI for the whole of 2011 was estimated at $11 billion, equal to 2010s figure.

may have reached $3.65 billion in according to a statement on the

development assistance in Vietnam

Disbursement of official

2011, up from $2.94 billion in 2010, governments website. By the end of development assistance previously the total, had been disbursed.

last year, about $33.4 billion of official pledged to Vietnam, or 61 percent of

from 2011, to $7 billion in 2012, Thoi Bao Kinh Te Vietnam newspaper Vietnam Leather and Footwear Association. reported, citing a forecast by the

exports may increase by 12 percent

The value of Vietnams footwear

in three factories in Vietnams Quang Chau Industrial Park in Bac Giang

Wintek Corp. invested $15.6 million

Province, the T aichung, T aiwan-based maker of equipment including liquidthe stock exchange. crystal displays said in a statement to
PHOTO: NGOC THANG

A clothes shop offers discount of 50 percent in Hanoi. Vietnamese consumers like to purchase products on sale, a survey has found.

million tons in 2011, the Vietnam

largest rice exporter, shipped 7.11

Vietnam, the worlds second-

Food Association said. Shipments

were 376,365 tons in December, the

association said in a statement on its website Tuesday. The countrys 2011 exports exceed the record 6.75 million tons that were shipped in

Discount sales woo

By NGAN ANH

2010 according to the association. Vietnam will export 6.85 million to 7.35 million tons of the grain in 2012, the Ministry of Agriculture and Rural Development estimated in a report posted on its website Tuesday.

inflation-weary shoppers
A
supermarket oering ll major retailers have been to encourage a ractive thousands of shoppers rushing in chain had tens of at the local Parkson at 6 p.m. on Tuesday and le hours later, carrying a big bag full of garments, shoes and toys. Everything is the mall three information when it, for the rst time, opened hours does. said earlier than it company, Vietnamese consumers like to purchase products on sale. said they were cu ing and measurement discounts the doors at midnight, nearly 10 normally Now is the best time to buy. available Up to 74 percent of respondents spending by buying products on sale. Vietnams ination rose their

purchases as they hoarded cash to meet customer withdrawals ahead of the Lunar New Year Holiday starting January 23. Many banks have halted bond purchases in anticipation of increased cash

Banks have scaled back debt

recession wary shoppers to loosen their purse strings for the festive has been positive.

season, and the initial response The discount sales began prior

I came here to get discounts, Nguyen a Hai Ba Duc Trung Minh, 45,

Hanois buying

to Christmas and is set to stay until

demand ahead of the Lunar New Trang, a fixed-income trader at Joint-Stock Bank.

Tet, the Lunar New Year festival month.

around $100 at Pico. Earlier, he had gone to Big C and bought two sons, for around $45. Hanoi coats and a pair of jeans for his Vu Vinh Phu, chairman of the Association said: The

washing

machine

District, for

of

shocking prices, Lan said. She continued looking for deals on a new laptop at an electronics store. Nguyen Bich Thuy, owner of a

at

percent in 2011, according to the General Statistics Oce. An initial ination target of 7 percent for percent as prices soared.

18.58

clothes shop on Minh Khai Street, said: The country is experiencing an consumers want to do everything to cut spending. announced get deals Many shops in Hanoi of economic downturn, so

Year holiday, said Do Hoang Quynh Hanoi-based Ocean Commercial

that falls in the last week of this Shoppers have been crowding in Hanoi such

2011 was raised subsequently to 18 General Statistics Oce says the nation posted an economic growth of 5.89 percent last year. a The discount sales

The

supermarkets

than 34 percent last year from 2010 while those posted by state utility Electricity of Vietnam rose 26.7 percent, Tuoi Tre newspaper

group PetroVietnam jumped more

Revenues of state oil and gas

Media Mart, Pico, Big C, and many other stores to get discounts of up to 50 percent on everything from electronics products to toys. Around 1,000 shoppers ocked

as

Supermarkets,

reduction may be a good way to spur purchasing demand, which is recession. some The longer hours

price

of

percent, and people are rushing to products. on a wide range

discounts

20 50 of

have

smaller because of the economic supermarkets have in also

are

racted a lot of customers who purchasing things at lower

have

to the Pico stores when it opened until midnight on December 31. Elsewhere, a large number of

at

reported. Meanwhile state mining

facilitated goods.

consumers

buying

ploy retailers use to lure customers

In fact, these promotions are a

prices instead of waiting for an economic bigger incomes. recovery and earning

into their shops, Phu said. The amount of goods with discounts may be limited, and a er entering

group Vinacomin reported revenue and Trade Ministry said.

growth of 26.9 percent, the Industry

shoppers headed to the Zen Plaza

shopping mall in Ho Chi Minh City to take advantage of deals on oer from December 30 to January 2. Customers were able to

and other sales promotions were a so it was dicult to assess

Phu said longer shopping hours

with a bank in Hanoi, stood in line at purchases. Pico, waiting to pay for

Cao Huy Binh, 30, an accountant his

October, 452 of which were in the

enterprises at the end of last

Vietnam had 1,309 state-owned

relatively new activity in Vietnam, eectiveness now. make goods

the shops, customers may spend more on other products that are not on sale.

public utility, defense and security sectors. The government plans to cut the total to 692 by 2015, Thoi Bao Kinh Te Vietnam newspaper reported.

discounts of 30 50 percent on its products, and those who bought (US$71.4) and more in a day were given a VND100,000 coupon. Last November, the Big products worth VND1.5 million

get

its

He said these promotions could more a ractive

local consumers, who are looking for cheaper prices, he said.

to

their product prices before their promotion campaigns, so that they earn prots even a discounts, he said. Nielsen er oering big

Moreover, stores may increase

for $250, and a camera for over $100. Binh said he was able to save 30 percent on his

He had bought a Samsung TV

around festival

purchases now and continued his looking season for electrical shopping

VW

Dong Da District, began shopping

Nguyen Hoang Lan, 35, from

According to a recent survey by Vietnam, a

spree,

global

appliances.

home

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JANUARY 6 - 12, 2012

ECONOMY - FINANCE

11

Real estate still promising

By THIEN BAO

Who can take out loans to develop projects or buy properties at such rates? he asked. Another realtor who wished to remain

for long-term investors

market conditions but some experts evelopers are still pessimistic about believe investors should not rule out Dinh is The Hien to said the

unnamed also said high borrowing costs are With interest rates staying so high, Id

the major challenge for the property market. rather quit and deposit my money in banks only ll the pockets of banks, he said. Housing to Le Chi Development their Hieu, chairman JSC, of said Thu

because even if I try more, all the prot will Duc

D
keep

these tough times property companies need solidify their nancial resources. review business strategies and

during

real estate just yet. government tightening Economist

lending to the real estate sector, aiming to percent in 2012. This will have a negative impact on the property market, he said. credit growth between 15 and 17

monetary

expected

policy

and

continue restrict

companies to develop residential projects, in an a empt to capitalize on the strength of

His company has cooperated with other

each developer in terms of land and capital funds. Le Hoang Chau, chairman of the Ho Chi necessary for developers to work

in the rst months of the year. The decline is likely to ease later and prices may stabilize in unlikely he added. , the third quarter but increases are

Hien said property prices are likely to fall

Minh City Real Estate Association, also said its together to overcome diculties.

with prices below VND15 million ($710) per square recovery in 2012. meter is the hope for a

He said the low end apartment segment market

2012, it will be an opportunity for long term investors to buy cheap properties and earn prots one or two years later when the economy picks up, he said.

However, if prices hit their bo

om in mid

said in a new report that recent declines in

PHOTO: BLOOMBERG

Meanwhile, the Ministry of Construction

property prices are actually a positive sign

Ho Chi Minh City as seen from the rooftop of a downtown building. Property prices are expected to fall in the next six months.

ve emerging markets for investment in 2012 in the latest annual survey of the

Vietnam continued to be named in the top

as it means many people will have be

opportunities to aord the home they want. estate The heating up of the market and real companies posting huge prots a

er

Washington based Association of Foreign it in the top ve for the rst time last year.

Investors in Real Estate. The country made This year, the survey respondents, who

down one spot. The other top markets are Brazil, China, Turkey and India. many of whom spent For real estate developers in Vietnam, most of

Dat Tac Vang, a Ho Chi Minh City based real estate company, said the market prospects still very high. are not good considering interest rates are While banks have announced plans to lower

few years ago had led to misconceptions about market demand, encouraging more companies to enter the market and inate media this week.

have more than US$874 billion worth of real estate holdings globally, rated Vietnam at number ve out of 25 emerging markets,

struggling with nancial problems, the year ahead is not looking promising. Hoang Anh Tuan, general director of Tac

2011

prices, according to the report, cited by local The ministry report also said a market

interest rates, the average rate is still high, at

more than 20 percent per year, Tuan said.

collapse is unlikely .

VW

Richest not spared

By NGUYEN KHANH

by stock market slump

Urban Development, dropped from third to eighth place a around VND1.4 trillion from VND4 trillion in 2010. Tam topped the list in 2007 with the time. stockholdings of nearly VND6.3 trillion at Vuong wife, Pham Thu Huong, took over s er his stock assets shrank to HCMC market last year has taken its toll on even the richest investor. At the time the benchmark VN Index The poor performance of the stock

closed out 2011 at 351.55, the ten richest

investors owned stock worth VND34.7 trillion (US$1.65 billion), down 28 percent compared to 2010. Still, not all top stockholders were Pham Nhat Vuong, chairman of real estate

the third position with holdings of VND2.9 trillion.

negatively impacted.

with the rst dollar billionaire as analysts news website VnExpress pointed out that

While the stock market did not nish 2011

had predicted it would a year ago, the local Vuong actually owned some $1 billion when his company stock hit a record high of s VND137,000 in mid 2011.

giant Vingroup, continued his dominance,

increasing his assets. As of the end of 2011, VND16.7 trillion, or nearly $800 million. stock investor for the rst time, Vuong s One year a

his stockholdings were valued at more than er being named the richest

the real estate sector still dominated the top 100 richest stock market investors. Some 30 property moguls accounted for nearly 63 top 100, according to the news website. percent of the total stock assets within the Vietnam benchmark stock index was s

VnExpress also said despite its slowdown,

holdings augmented by nearly VND1 trillion, helping the chart topper widen the gap with other investors. His assets were in fact larger than the combined stockholdings of the ve investors ranked directly below him. Another property mogul, Doan Nguyen

Asia worst performer in 2011 and Viet s

Duc, chairman of Hoang Anh Gia Lai,

Capital Securities Co. said it may fall another 6 percent before reaching a strategic buy point, Bloomberg reported. We should pay close a

followed Vuong on the list. By year end, Duc owned stock worth nearly VND4.35 trillion, a sharp decline from the previous year total s of VND11.36 trillion. Last month Standard & Poor Ratings Services lowered Hoang Anh s Gia Lai long term corporate credit rating s from B to B over concerns about its operating performance and liquidity .

The VN Index slumped 28 percent last year. ention to the

330 level as we expect this to be a strong support, which could mark a strategic buy point and the low for 2012, Raphael Wilhelm, director of technical strategies Bloomberg as saying. at Viet Capital Securities, was quoted by

Dang Thanh Tam, chairman of Kinh Bac

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12

ECONOMY - FINANCE

JANUARY 6 - 12, 2012

Vietnam to implement tight

Despite a

fiscal, monetary policy in 2012

fertile growth environment, private hospitals fail healthcare sector

Under t

to address key

shortcomings
By BAO VAN

A local commercial banks employee counts money next to piles of dong notes in Hanoi

PHOTO: AFP

opened up opportunities for the development foreign hospitals of nationwide private and

healthcare increasing

overstretched

auence

system

state run and has

HANOI - Vietnam will have tight fiscal and monetary policies to fight inflation this year, while enhance the efficiency and the government said.

progress toward economic policy too soon.

stability if it loosens monetary The resolution suggests that

recent years, but their contribution to reducing the overload has been limited. Over 100 private and foreign

in

advancing a restructuring plan to competitiveness of the economy, The country will use a tight,

managing macro stability

remains the main objective of

invested hospitals have been built last decade, according to the

policymakers, Prakriti Sofat, a Singapore-based economist at Barclays Capital, said in an email. More is needed to structure by increasing strengthen the economic privatization of state-owned banking sector and more said.

in 29 cities and provinces over the Ministry of Health. Department

cautious, flexible monetary

policy and tight, effective fiscal

Luong Ngoc Khue, head of the of

measures in 2012, according to a governments website. It will also intensify monitoring of domestic the resolution. markets and prices, according to In February last year, Vietnam

resolution posted Tuesday on the

Examination and Treatment under the ministry said the government , encourages investors to foreign to build and local the

Medical

enterprises, consolidation in the efficient state investment, she The Ministry of Planning and

contributing The

healthcare demand of local people. investors government with facilitates favorable

meeting

hospitals,

unveiled measures including lowering credit growth and budget-deficit targets as

Investment will study and

policymakers tried to slow the pace of price increases. The International Monetary Fund and the nation may undermine

complete in the first quarter a in which state capital will be projects, according to the resolution. BLOOMBERG

investment procedures, taxes, and land policies to develop private health establishments, Khue said. corporate income tax of just 10 percent instead of the 28 percent regulated earlier. Newly Hospitals in Vietnam now pay

plan for investment restructuring, focused on key infrastructure

the World Bank in December said

Coffee exports may drop to 1.1 mil. tons in 2012

HANOI - Coffee exports from Vietnam, the worlds largest shipper of robusta beans, may slow in 2012 compared with estimates for 2011, according to an agriculture ministry report published Tuesday. Chi Minh City on December 8. bags of coffee this season, 9

established hospitals are exempted

from the tax for the rst four years, and enjoy a tax reduction of 50 Some projects to construct percent in the ve following years. expand hospitals can access low percent of its total investment. With these incentives,

and

Vietnam will harvest 21.25 million percent more than a year earlier, of 10 traders, growers and kilograms (132 pounds).

interest bank loans of up to 70 many

according to a Bloomberg survey exporters. Each bag weighs 60 Exports of rice from Vietnam,

private hospitals have been built or expanded over the past few years. The An Thinh Obstetric
A woman walks past the FV Hospital in Ho Chi Minh Citys District 7. destination for investors in the
PHOTO: TUAN ANH

million metric tons this year, the Development forecast in the report. The ministry said

Shipments may total about 1.1

Hospital opened late last year in hospital in the field in the

Hanoi, becoming the first private northern region.

Vietnam is believed to be a good healthcare sector in the long term.

Ministry of Agriculture and Rural

the worlds second-largest

shipper of the crop, will be 6.85 2012, according to Tuesdays report. The ministry said

December 27 that exports for an increase of 0.2 percent

million tons to 7.35 million tons in

recently bought a controlling stake in Hoan My Medical Corp, the Vietnamese backed by Deutsche hospital Bank operator

Fortis Healthcare Ltd of India

2011 may reach 1.22 million tons, compared to 2010. The ministry the 2012 estimate.

foreign

December 27 that Vietnam may of 2011, an increase of 4.4 earlier.

didnt provide an explanation for A rise in domestic coffee

ship 7.19 million tons in the whole percent compared to a year Rubber shipments by the

raising the promise of increasing foreign Vietnams healthcare sector. also plans to expand investment inow into

AG,

Vietnam

invested is

demand among local people for high quality healthcare service, to y abroad for Ban said. Many people still have treatment. spend each medical

largely

hospitals due to

high

in

Grant Thornton Vietnam, an audit and provider, business shows advisory that the

service

healthcare

sector is the third most a real estate and education. Struggle to survive According to

and

pharmaceutical

consumption to 10 percent of

The French Hospital of Hanoi this year,

investment sector in Vietnam, a

ractive

er

Vietnams output from 5 percent 2011-2012 crop year that began October 1, Luong Van Tu, chairman of the Vietnam Coffee

may reduce export volumes in the

worlds fourth-biggest rubber

exporter may total 883,856 tons

tripling its current capacity. As of now, the hospital has 68 sick beds, said the hospitals deputy general director Vo Van Ban. development The potential of for the

Some 40,000 Vietnamese citizens about US$1 billion to on

this year, the ministry said. That estimated on December 27 for 2011. BLOOMBERG

medical treatment services abroad Ministry of Health. year, according the

compares with the 846,000 tons

insiders, Vietnam, in the long term, is a good destination for investors in the healthcare sector. However, many private hospitals are now

some

industry

and Cocoa Association said in Ho

private

and

survey released last November by

The results of a private equity

JANUARY 6 - 12, 2012

ECONOMY - FINANCE

13

he weather
Vietnam now has beds per 10,000 people, much lower than average of

$11 billion in tourism

HANOI Vietnam targets

revenues targeted in 2015

generating US$10 billion to $11 billion in tourism revenue and a million overseas visitors in racting 7 million to 7.5 international visitors in 2020, and generate $18 billion to $19 billion in tourism revenue, according to the statement.

21 hospital 33

2015, according to a statement posted on the governments website Monday .

overseas tourists in 2011, a 19.1 percent increase from 2010, according to the General

Vietnam hosted 6 million

10 million to 10.5 million

The country aims to attract

Statistics Oce. BLOOMBERG

hospital beds per 10,000 people for the Asia-Pacific region

THE MINISTRY OF HEALTH

Banking sector set for surge in M&A activity this year

HCMC mergers and acquisitions in the banking system will occur this year, bringing the number of the Dau Tu (Investment) experts. banks in Vietnam to below 30, newspaper has reported, citing Economist Nguyen Tri Hieu An upswing in million) and total assets of

VND154 trillion, making it the according to the central bank. The merger, the first since

fifth largest lender in Vietnam, Its license is valid for 99 years. the central bank announced

Ministry,

hospitals now are small, mainly oering outpatient treatment to people with common

most

of

the

private

state owned hospitals do now.

Each of them has 30 50 beds on average. Their combined capacity total number of beds available accounts for just 3 percent of the nationwide, and their sta make up just 0.2 percent of the health sector s employees. Ban of the Hanoi

diseases.

his hospital is always in need of highly qualied sta. However,

Ban of the French Hospital said

when expanding the hospital, it is not easy for us to employ highly qualied sta who are good both language demand doctors, skills. And we have

the banking reform plan, was backed by state owned Bank for Investment and Development of Vietnam. It went more smoothly than calm and did not rush to withdraw their money. expected as depositors stayed

said there will be a strong

in their speciality and have foreign for not only excellent

M&A wave in the sector as

many lenders are looking for The number of banks can be cut by one third, he said. According to the Dau Tu

the right partner for mergers.

Hospital said: To compete well in the market, not only hospitals, but good brand name. However, also all businesses have to have a newly established hospitals cannot do this immediately . It takes hospitals years to build a

French

accountants, he said. Wrong priorities help

but

also

nurses

and

report, many industry insiders said banks with large bad debts are likely to be merged with or taken over by others. Louis Taylor, general

could go through even without the support of state lenders. The newspaper cited the central bank governor as

Dau Tu said more M&A deals

With the private sector unable to signicantly reduce the

overload at state owned hospitals, the government is seeking other ways to deal with the problem. The state run Saint

director of Standard Chartered Bank Vietnam, told the newspaper that while the number of banks will be reduced through the

saying the private sector will be encouraged to join the restructuring process.

brand name, and they need to have

access to large capital, he said. In the current context of high interest rates, bankruptcy if they depended on hospitals would face

Hospital in Hanoi has 550 beds, but receives some 1,500 2,000

Paul

the National Financial

Vu Viet Ngoan, chairman of

patients for medical examination and treatment each day. In many other hospitals, the situation of a bed is quite common. The Ministry of

restructuring process, the strong banks.

Supervisory Committee, said the restructuring of the banking system does not have encouraged to seek M&A

bank loans. No business can bring enough prot to pay the current interest rates. Investment Thu of in many private

country will end up with more The State Bank of Vietnam

two or even three patients sharing Health said

to be costly as banks are being opportunities by themselves. banks have set aside risk Ngoan also said that all

announced its plan to

hospitals in general is still limited. hospital million has in An invested Thinh said just his $2

Vietnam now has 21 hospital beds per per than average of 33 hospital beds Pacic region. reported Local 10,000 people for the Asia 10,000 people, much lower

restructure the banking system Van Binh said the central bank will complete reviewing, classifying and reorganizing 2012.

last October. Governor Nguyen

reserves equal to more than 60 percent of their bad debts. However, economist Hieu

equipment. The construction of a hospital with modern equipment and investment. good sta But requires spending a large

machines

and

media on at

have many the

frequently hospitals,

all banks by the end of March There are eight small lenders

said 2012 could be the year when the banking system exposes many risks and

healthcare by Vietnamese people is

on

overloading

constant

still low, and recouping investment is a slow process, so investors dare not pour large sums of money into such projects. Experts say it takes between ve

where each doctor has to examine some 100 patients a day and does not have enough time to conduct thorough patients. examinations or oer

that are weak, accounting for 5 in November, adding that the most dicult task of the restructuring will be dealing with those weak banks. The governor also said the goal of 15 strong banks that can

percent of the system, Binh said

weaknesses, including bad Research group Capital

debts and liquidity problems. Economics said in a report last to restructure some of the countrys banks a

detailed consulting services to the Minister of Health Nguyen Thi

month that Vietnam has moved er a surge in

and ten years for private hospitals to recoup their capital. struggling to get patients. Some of them bankruptcy they said, declining to , name the troubled hospitals. hospitals Explaining nd it why hard to private a are even on the verge of However, the biggest diculty

Kim Tien has said the countrys population has doubled since 1975,

banking reforms is to have 10 to support the whole system. there were 42 banks in

lending in recent years, which

has contributed to a rise in bad ratio could easily surpass 15 percent, causing major sector, it said. problems for the banking

facing many private hospitals now

is the availability of good sta. doctors or those who are

but the infrastructure of the health not kept pace at all.

Most of them have to hire retired working in state owned hospitals to work part time for them. Hospitals seeking to build a still

sector, the number of hospitals has Land for hospital construction

As of the end of last year,

debt. The non performing loan

Vietnam, including five state owned commercial lenders. Three small banks in Ho Chi

customers, while state owned ones are overcrowded, Pham Vu Thu, Obstetric private Hospital, said: managing director of the An Thinh hospitals have limited Some

ract

is limited, while land for industrial she said.

parks and golf courses is large, The ministry would map out a state owned hospitals, she

Minh City with liquidity issues have recently merged, forming the Saigon Joint Stock Commercial Bank. The new lender, also known as SCB, came into operation January 2. of VND10.58 trillion (US$503 SCB has a registered capital

Economic Forum said Vietnam has a relatively sizeable and countrys banking system efficient banking system. The provides a solid foundation

In a positive note, the World

name for themselves would not be keen on hiring newly graduated medical students. Thu of An Thinh said

plan for reducing overloading at big

treatment quality and have not yet , built up a good reputation. According to the

hospital, due to limited capital, in training employees as

his

said, adding that they would try to increase state budget investment in building and expanding new hospitals.

for further growth, the forum in December.

Health

could not make large investments many

said in a report, also published

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VW

14

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Stock Last Change

TOP 50
VKP VSG NVT TRI ATA HLA IJC PXT VIP VPH DPR DHA LCM TRA BMC AGD IMP PXI VRC DIC EVE DQC THG KSH KTB LM8 PXM SBC TPC SJS TDH STG CSG MHC SHI VFC LGC NSC JVC HQC NVN TLH LBM PXS PVD HAX ICF PTB CLC ELC 0.90 12.50% 1.70 1.90 1.90 6.30 4.20 8.40 4.20 4.20 4.20 46.30 8.50 36.10 36.10 25.70 27.90 38.70 4.30 8.70 6.60 17.70 11.10 8.90 6.70 17.90 9.00 4.50 13.60 6.80 22.80 11.40 16.00 6.90 2.30 4.60 6.90 25.40 42.10 16.40 4.70 9.40 4.70 7.10 7.10 33.20 4.80 4.80 12.00 12.10 31.50 6.25% 5.56% 5.56% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 4.99% 4.94% 4.94% 4.94% 4.90% 4.89% 4.88% 4.88% 4.82% 4.76% 4.73% 4.72% 4.71% 4.69% 4.68% 4.65% 4.65% 4.62% 4.62% 4.59% 4.59% 4.58% 4.55% 4.55% 4.55% 4.55% 4.53% 4.47% 4.46% 4.44% 4.44% 4.44% 4.41% 4.41% 4.40% 4.35% 4.35% 4.35% 4.31% 4.30% VES NVT TRI KSA SCD SFI TBC TRA ABT KBC SC5 IMP BGM CCL COM OPC SJS MPC BSI VPH BMC PXI RDP BVH ITA DIC KSS CCI PXM SBC TPC MHC SHI JVC AVF HQC IFS C21 DDM HAX NAV MKP TNT SGT VNS QCG TYA TCM L10 BTP 1.50 2.00 2.00 4.20 12.60 12.60 10.50 37.90 35.90 10.60 8.50 40.60 4.30 10.80 28.10 28.10 23.90 15.30 6.60 4.40 26.90 4.50 9.00 42.90 6.80 6.90 6.90 9.40 4.70 14.20 7.10 2.40 4.80 17.10 9.80 4.90 4.90 17.30 2.50 5.00 7.60 51.00 5.30 8.00 22.00 13.90 2.80 8.70 5.90 3.00 7.14% 5.26% 5.26% 5.00% 5.00% 5.00% 5.00% 4.99% 4.97% 4.95% 4.94% 4.91% 4.88% 4.85% 4.85% 4.85% 4.82% 4.79% 4.76% 4.76% 4.67% 4.65% 4.65% 4.63% 4.62% 4.55% 4.55% 4.44% 4.44% 4.41% 4.41% 4.35% 4.35% 4.27% 4.26% 4.26% 4.26% 4.22% 4.17% 4.17% 4.11% 4.08% 3.92% 3.90% 3.77% 3.73% 3.70% 3.57% 3.51% 3.45% CAD TRI SPM VLF VPK TRA BMI CTG SC5 PHR IMP JVC MPC BBC THG SAV PTB C47 HTI POM PXM SBC SJS MHC AVF SCD HVX KDH VSC TLG TYA C21 HT1 MTG IDI STB SRF COM CCI PVT AGD TMT VFC LBM STT TPC ASP REE TDW PTC 1.70 2.10 49.80 13.20 6.60 39.70 8.90 17.80 8.90 26.80 42.50 17.90 16.00 11.60 9.30 21.00 11.90 9.60 7.20 9.80 4.90 14.80 24.90 2.50 10.20 13.10 2.70 20.10 26.00 14.50 2.90 17.90 3.00 3.10 6.40 16.00 19.30 29.00 9.70 3.30 28.00 7.00 7.00 7.10 3.60 7.30 3.70 11.60 7.80 4.00 6.25% 5.00% 4.84% 4.76% 4.76% 4.75% 4.71% 4.71% 4.71% 4.69% 4.68% 4.68% 4.58% 4.50% 4.49% 4.48% 4.39% 4.35% 4.35% 4.26% 4.26% 4.23% 4.18% 4.17% 4.08% 3.97% 3.85% 3.61% 3.59% 3.57% 3.57% 3.47% 3.45% 3.33% 3.23% 3.23% 3.21% 3.20% 3.19% 3.13% 2.94% 2.94% 2.94% 2.90% 2.86% 2.82% 2.78% 2.65% 2.63% 2.56% VES MPC SVC TRA FDC LGL CNT DMC VPK VNG KDH JVC CSG ITD DDM IFS SHI ALP DAG NSC PAC TV1 SRF VRC TYA DRH TTF SPM L10 CCI PVT PXS STT TLG TPC PTL SVT CLW SMA CIG AGR BHS CMV EVE LAF ABT BIC LSS DHC AGD 1.50 16.80 19.30 41.60 24.40 6.70 9.00 22.70 6.90 9.20 21.00 16.60 7.20 7.30 2.50 5.10 5.10 7.80 5.30 40.40 16.20 5.40 19.00 8.80 3.00 3.00 6.00 51.50 6.10 10.00 3.40 7.30 3.70 14.90 7.50 3.90 7.80 8.00 4.00 4.20 4.40 17.80 23.00 18.40 14.50 36.70 6.30 18.90 6.90 28.40 7.14% 5.00% 4.89% 4.79% 4.72% 4.69% 4.65% 4.61% 4.55% 4.55% 4.48% 4.40% 4.35% 4.29% 4.17% 4.08% 4.08% 4.00% 3.92% 3.86% 3.85% 3.85% 3.83% 3.53% 3.45% 3.45% 3.45% 3.41% 3.39% 3.09% 3.03% 2.82% 2.78% 2.76% 2.74% 2.63% 2.63% 2.56% 2.56% 2.44% 2.33% 2.30% 2.22% 2.22% 2.11% 1.94% 1.61% 1.61% 1.47% 1.43%

TOP 50
VCS TAG SJ1 BCC PSI PTM SDD KST DID KTS VDL LHC VC3 HPC PDC SHS SRB HPR PVE BBS HUT PIV VNT CCM CTC ONE VMC INC L61 SDS SNG L62 PFL PVV VC2 PLC SSM VC5 INN LCS DLR LBE LTC DCS HOM SD2 MAC MNC PHC S64 10.70 32.20 26.00 3.10 3.10 9.30 3.10 7.80 4.70 40.70 22.10 19.00 20.60 3.20 2.90 3.20 3.20 17.70 9.70 6.50 6.50 9.90 11.60 5.00 8.80 5.00 15.00 3.40 6.80 5.10 10.40 12.20 3.50 3.50 14.10 14.20 5.30 5.30 14.30 12.60 14.40 7.20 5.50 3.70 3.70 5.60 3.80 3.80 5.60 5.70 7.00% 6.98% 6.91% 6.90% 6.90% 6.90% 6.90% 6.85% 6.82% 6.82% 6.76% 6.74% 6.74% 6.67% 6.67% 6.67% 6.67% 6.63% 6.59% 6.56% 6.56% 6.45% 6.42% 6.38% 6.38% 6.38% 6.38% 6.25% 6.25% 6.25% 6.12% 6.09% 6.06% 6.06% 6.06% 6.02% 6.00% 6.00% 5.93% 5.93% 5.88% 5.88% 5.77% 5.71% 5.71% 5.66% 5.56% 5.56% 5.56% 5.56% ORS DNC MCL VNT KTS ALT SDU MIC VC3 D11 L44 SNG CAN CTB SCJ HPB VCS SAP DC2 PGT SHC LCS CT6 NAG SDE PVE BST CKV ONE LIG INC SDS PPP CPC PVV DC4 DCS SHN VE9 SKS APP TBX VGS SD6 APS S91 SVS V11 SDP TKC 1.40 6.20 3.10 12.40 43.50 12.50 4.70 10.80 22.00 12.60 6.30 11.10 25.60 22.40 8.00 9.70 11.40 4.90 6.60 3.30 3.30 13.30 8.50 3.40 4.60 10.30 5.20 5.20 5.30 8.90 3.60 5.40 7.30 11.10 3.70 5.80 3.90 3.90 7.90 6.00 12.20 12.20 4.10 6.10 2.10 4.20 2.10 2.10 4.30 4.30 7.14% 6.90% 6.90% 6.90% 6.88% 6.84% 6.82% 6.80% 6.80% 6.78% 6.78% 6.73% 6.67% 6.67% 6.67% 6.59% 6.54% 6.52% 6.45% 6.45% 6.45% 6.40% 6.25% 6.25% 6.25% 6.19% 6.12% 6.00% 6.00% 5.95% 5.88% 5.88% 5.80% 5.71% 5.71% 5.45% 5.41% 5.41% 5.41% 5.26% 5.17% 5.17% 5.13% 5.08% 5.00% 5.00% 5.00% 5.00% 4.88% 4.88% BHC RCL KST S55 DAE MCL STC VNT D11 BTH PIV SJ1 ONE TET HCT INC DHI PCT PTM VCC DPC VE9 PVE S91 TKC CMS LBE TAS KTS VCH SDB THV VE1 FLC CKV DZM AME TV2 VTV SD7 VNF VC7 DNM S74 PVL SD3 TMC OCH DC2 TNG 4.60 13.90 8.00 14.50 8.10 3.30 6.60 13.20 13.40 10.10 10.50 26.30 5.40 26.70 13.30 3.80 4.00 2.00 10.00 6.00 10.20 8.30 10.90 4.40 4.50 10.80 7.50 2.50 45.00 2.60 2.70 2.70 2.70 21.70 5.50 8.30 2.80 8.40 5.70 8.30 20.70 5.90 12.20 6.00 3.10 3.10 9.30 10.00 6.80 6.80 6.98% 6.92% 6.67% 6.62% 6.58% 6.45% 6.45% 6.45% 6.35% 6.32% 6.06% 5.69% 5.66% 5.60% 5.56% 5.56% 5.26% 5.26% 5.26% 5.26% 5.15% 5.13% 4.85% 4.76% 4.65% 4.63% 4.17% 4.17% 4.14% 4.00% 3.85% 3.85% 3.85% 3.79% 3.77% 3.75% 3.70% 3.70% 3.64% 3.61% 3.47% 3.45% 3.39% 3.39% 3.33% 3.33% 3.33% 3.09% 3.03% 2.99% SJE PHS ONE TJC RHC S91 VC2 TSB SDE PPG HCC DZM NET D11 S27 LO5 SJC SDS VNT VC6 DPC VE9 FDT SDP FLC TNG BVG API TTC HDA MAX VE1 AME NHA VKC PFL L18 QHD NST PGT THB L61 HTP INN UNI MNC DNM GLT DXP SDU 6.20 10.71% 3.30 10.00% 5.80 3.10 12.40 4.70 14.40 8.00 5.10 3.40 7.00 8.80 30.00 14.20 3.70 3.70 9.40 5.70 13.90 8.30 10.70 8.70 22.00 4.40 22.70 7.10 2.60 2.60 2.70 5.40 5.50 2.80 2.90 2.90 2.90 2.90 9.00 9.30 9.90 3.40 10.20 7.00 3.60 14.40 3.80 3.90 12.50 12.50 23.40 4.80 7.41% 6.90% 6.90% 6.82% 6.67% 6.67% 6.25% 6.25% 6.06% 6.02% 6.01% 5.97% 5.71% 5.71% 5.62% 5.56% 5.30% 5.06% 4.90% 4.82% 4.76% 4.76% 4.61% 4.41% 4.00% 4.00% 3.85% 3.85% 3.77% 3.70% 3.57% 3.57% 3.57% 3.57% 3.45% 3.33% 3.13% 3.03% 3.03% 2.94% 2.86% 2.86% 2.70% 2.63% 2.46% 2.46% 2.18% 2.13%

(Source: Bloomberg)

(Source: Bloomberg)

million

Gold prices in VND per tael

BOTTOM 50
BAS QCG VHG KSB MKP BIC SSC ABT PHR ITD VHC CCL C21 LHG 1.10 13.40 3.90 37.10 49.00 6.00 28.00 34.20 26.20 8.10 28.40 10.30 16.60 14.70 -8.33% -4.96% -4.88% -4.87% -4.85% -4.76% -4.76% -4.74% -4.73% -4.71% -4.70% -4.63% -4.60% -4.55% -4.38% -4.35% -4.35% -4.26% -4.17% -4.17% -4.11% -4.00% -3.92% -3.57% -3.33% -3.33% -3.23% -3.13% -2.90% -2.86% -2.81% -2.78% -2.78% -2.78% -2.70% -2.67% -2.56% -2.56% -2.50% -2.44% -2.41% -2.27% -2.23% -2.17% -2.15% -2.01% -1.96% -1.94% -1.74% -1.49% VKP CAD HAI OGC PTB PTL ITD SFC VOS DVP KSB TMS ELC HLG LCM AGF GDT HU3 VCB NHW VSC VLF VSI BMI CIG HSI LSS PDN BRC ICF TLG SRF PPI CTG NSC FDG D2D CLW MDG HOT PVD TCL TTP VHC DRH GIL SBS C47 VPK CTD 0.80 -11.11% 1.60 22.80 7.60 11.40 3.80 7.70 25.30 3.90 35.30 35.30 25.70 30.00 10.00 34.40 20.40 16.40 10.30 20.80 12.50 25.10 12.60 4.20 8.50 4.30 8.60 19.40 28.10 6.70 4.60 14.00 18.70 4.70 17.00 40.50 12.70 15.30 7.80 5.20 18.50 32.00 16.00 27.00 27.40 2.90 30.00 3.00 9.20 6.30 29.10 -5.88% -5.00% -5.00% -5.00% -5.00% -4.94% -4.89% -4.88% -4.85% -4.85% -4.81% -4.76% -4.76% -4.71% -4.67% -4.65% -4.63% -4.59% -4.58% -4.56% -4.55% -4.55% -4.49% -4.44% -4.44% -4.43% -4.42% -4.29% -4.17% -4.11% -4.10% -4.08% -3.95% -3.80% -3.79% -3.77% -3.70% -3.70% -3.65% -3.61% -3.61% -3.57% -3.52% -3.33% -3.23% -3.23% -3.16% -3.08% -3.00% VES CMG HLG SVT VNI VST DPR CTI FDC CLC GDT KSB BT6 HLA LHG TBC VSI PVD CIG TCM BRC LGL AGR PXI KSH NKG DIC ICF MCG VNG QCG BCE PDR LSS PVF DDM NSC MDG RIC UIC IJC LCG VNL MCV AGF BTP ELC SBS VNE CLG 1.40 5.70 9.50 7.60 3.80 3.80 44.00 21.10 23.30 11.70 15.60 33.60 6.00 4.00 14.00 10.00 4.00 30.50 4.10 8.30 6.40 6.40 4.30 4.30 6.50 13.10 6.60 4.40 6.60 8.80 13.30 6.70 18.00 18.60 7.10 2.40 38.90 5.00 5.10 7.80 8.20 8.30 11.10 2.80 19.70 2.90 29.00 2.90 2.90 11.90 -6.67% -5.00% -5.00% -5.00% -5.00% -5.00% -4.97% -4.95% -4.90% -4.88% -4.88% -4.82% -4.76% -4.76% -4.76% -4.76% -4.76% -4.69% -4.65% -4.60% -4.48% -4.48% -4.44% -4.44% -4.41% -4.38% -4.35% -4.35% -4.35% -4.35% -4.32% -4.29% -4.26% -4.12% -4.05% -4.00% -3.95% -3.85% -3.77% -3.70% -3.53% -3.49% -3.48% -3.45% -3.43% -3.33% -3.33% -3.33% -3.33% -3.25% CAD VFG PDR LHG KTB HU3 TRI VIP NTL SFC CTI TMS TSC BRC BVH RAL BMP KSH VLF VIC ICF MCG KSS ACC VPH ITA FBT TMT HAG PPI ITC HQC VHC MDG GMC NAV HAX GTT RIC HVX TCR PJT VNM LCG TCM MCV TS4 HDC VNE HT1 1.60 38.00 17.10 13.30 17.20 9.80 2.00 4.00 12.00 24.10 20.10 24.40 12.20 6.10 40.80 20.50 33.00 6.20 12.60 94.50 4.20 6.30 6.40 17.10 4.30 6.50 4.40 6.70 18.20 4.60 6.90 4.70 25.90 4.80 14.50 7.30 4.90 4.90 4.90 2.60 5.20 5.30 79.50 8.00 8.00 2.70 8.20 16.40 2.80 2.90 -5.88% -5.00% -5.00% -5.00% -4.97% -4.85% -4.76% -4.76% -4.76% -4.74% -4.74% -4.69% -4.69% -4.69% -4.67% -4.65% -4.62% -4.62% -4.55% -4.55% -4.55% -4.55% -4.48% -4.47% -4.44% -4.41% -4.35% -4.29% -4.21% -4.17% -4.17% -4.08% -4.07% -4.00% -3.97% -3.95% -3.92% -3.92% -3.92% -3.70% -3.70% -3.64% -3.64% -3.61% -3.61% -3.57% -3.53% -3.53% -3.45% -3.33%

BOTTOM 50
SDT XMC ORS BHV VIX VBC VNR HDA DIH SME SAP DC2 KHB HGM NAG APP MEC S12 SD4 VIG TST CMI VE2 DPC SSS DNM GLT S91 V11 VCV ADC SD8 VCH VTC ECI HPS S55 SKS TBX WSS VDS PSC VE9 NBP TCS ALV PV2 VCC B82 DAD 9.40 8.30 1.40 8.50 4.30 14.70 10.30 5.90 8.90 1.50 4.80 6.20 6.20 87.00 3.20 11.50 5.00 5.00 3.60 1.80 5.40 3.90 3.80 9.50 3.90 11.60 11.70 4.00 2.00 2.00 6.10 2.30 2.40 2.50 5.30 5.20 13.50 5.50 11.60 2.90 3.50 10.60 7.70 15.00 8.10 4.10 4.90 5.80 12.00 6.50 -6.93% -6.74% -6.67% -6.59% -6.52% -6.37% -6.36% -6.35% -6.32% -6.25% -6.12% -6.06% -6.06% -5.95% -5.88% -5.69% -5.66% -5.66% -5.26% -5.26% -5.17% -5.00% -5.00% -4.90% -4.88% -4.84% -4.80% -4.76% -4.76% -4.76% -4.69% -4.17% -4.00% -3.85% -3.70% -3.70% -3.57% -3.39% -3.33% -3.23% -2.78% -2.75% -2.63% -2.60% -2.38% -2.27% -1.96% -1.69% -1.56% -1.52% CTC GFC VIX VAT HDA DIH NTP NVC C92 PVS SJ1 KHB B82 IVS PDC DAD VXB NGC SCL SD4 MIM PGS VC9 POT VC1 BDB DHI PCT L35 TLC STC QCC KST NLC DXP PPS TST TXM NDN NBP GBS BCC TIG VDL EID HCC NBC DST PTS BTS 9.30 9.30 4.00 4.10 5.50 8.30 30.50 2.80 8.50 14.20 24.60 5.80 11.80 4.50 3.00 6.20 7.90 6.40 4.90 3.40 7.00 17.70 5.40 7.40 11.10 3.80 3.80 2.00 3.90 2.00 6.10 2.30 7.50 12.50 23.10 10.10 5.30 2.70 8.30 14.50 15.10 3.00 3.00 20.60 6.20 6.70 13.00 3.30 6.60 3.30 -7.00% -7.00% -6.98% -6.82% -6.78% -6.74% -6.73% -6.67% -6.59% -6.58% -6.46% -6.45% -6.35% -6.25% -6.25% -6.15% -5.95% -5.88% -5.77% -5.56% -5.41% -5.29% -5.26% -5.13% -5.13% -5.00% -5.00% -5.00% -4.88% -4.76% -4.62% -4.17% -3.85% -3.85% -3.75% -3.70% -3.64% -3.57% -3.37% -3.33% -3.27% -3.23% -3.23% -3.17% -3.08% -2.99% -2.99% -2.94% -2.94% -2.86% CMC KHB PPP B82 CTB IVS ORS PDC APP CTC EBS GFC WSS PVS SHS TMX SCL HPC INN DIH C92 SD4 SDE CAN PPS VDS TLT PVC CID VDL PFL VC9 CTN HOM LO5 SDT HHG PVA HPB HST SKS VIX CSC THB ADC SVS V11 KTT MIC SD1 9.30 5.40 6.80 11.00 20.90 4.20 1.40 2.80 11.40 8.70 5.80 8.70 2.90 13.30 3.00 10.60 4.60 3.10 14.00 7.80 8.00 3.20 4.80 25.60 9.70 3.30 5.00 11.70 6.70 20.10 3.40 5.10 3.70 3.50 3.50 8.80 3.60 5.40 9.20 3.80 5.60 3.80 9.70 9.90 6.00 2.00 2.20 2.10 10.30 4.10 -7.00% -6.90% -6.85% -6.78% -6.70% -6.67% -6.67% -6.67% -6.56% -6.45% -6.45% -6.45% -6.45% -6.34% -6.25% -6.19% -6.12% -6.06% -6.04% -6.02% -5.88% -5.88% -5.88% -5.86% -5.77% -5.71% -5.66% -5.65% -5.63% -5.61% -5.56% -5.56% -5.41% -5.41% -5.41% -5.32% -5.26% -5.26% -5.15% -5.00% -5.00% -5.00% -4.81% -4.81% -4.76% -4.76% -4.76% -4.55% -4.55% -4.55% DNC V11 HHL VHL SHN ORS OCH DTC CTC VBC DHT TKC SDD NTP BHC SCL PVL VC1 B82 VXB KST CVT C92 SD4 HNM SAP CTM PTM S12 DC2 VIT VND GFC SJ1 SDT S96 PVA KHB PHC HST VIX APP BDB PPS CTA SSS DIH NVB VCV DHI 5.90 2.00 2.10 28.20 3.80 1.30 9.30 24.00 8.10 13.70 33.30 4.20 2.80 28.50 4.30 4.30 2.90 10.30 10.30 7.40 7.50 7.50 7.50 3.00 4.60 4.60 3.10 9.40 4.70 6.40 4.80 6.40 8.20 24.80 8.30 5.10 5.10 5.10 5.40 3.60 3.60 10.80 3.60 9.20 3.70 3.70 7.40 7.50 1.90 3.80 -9.23% -9.09% -8.70% -7.54% -7.32% -7.14% -7.00% -6.98% -6.90% -6.80% -6.72% -6.67% -6.67% -6.56% -6.52% -6.52% -6.45% -6.36% -6.36% -6.33% -6.25% -6.25% -6.25% -6.25% -6.12% -6.12% -6.06% -6.00% -6.00% -5.88% -5.88% -5.88% -5.75%
(Source: Bloomberg, Ho Chi Minh, Hanoi Stock Exchanges). Prices in VND1,000

One tael is equivalent to 1.21 ounces. Prices as of 8:50 a.m. on January 5.

(Source: SJC)

WTI CRUDE FUTURE FEBRUARY 2012

USD/barrel

NHW 13.10 FDG VSI CCI POM VNG BRC DDM PDN TYA BTP MTG DRH SBS OPC DHC VNM DXV KAC TTP ACC TLG SBA SMC SRF VST SC5 RDP SVC CNG VCF MPC BMP KBC ST8 KSS 13.20 4.40 9.00 9.20 9.20 7.00 2.40 29.40 2.70 2.90 2.90 3.00 3.10 26.80 6.80 86.50 3.50 14.00 28.00 18.00 14.60 3.80 7.60 19.50 4.00 8.10 8.60 17.50 22.50 91.00 14.60 35.00 10.10 11.30 6.60

Prices as of 9:29 a.m. on January 5

(Source: Bloomberg)

Index

Last on January 4

Net change

Price/Earnings

Current year Estimate

Next year Estimate

-5.70% -5.68% -5.56% -5.56% -5.56% -5.26% -5.26% -5.26% -5.26% -5.26% -5.15% -5.13% -5.13% -5.13% -5.06% -5.00% -5.00%

DOW JONES S&P 500 NASDAQ

12418.42 1277.30 2648.36 5668.45

21.04 -0.36 0.24

13.44 22.50 10.18

12.82

12.12 14.41 9.74

11.84

10.78

FTSE 100

-31.46

12.25

10.84 8.83

(Source: Bloomberg)

FOREX RATES IN VND

USD EUR JPY SGD AUD HKD Buying 21,030 27,260 16,279 21,693 2,694

Transfer

21,030 27,342 16,394 21,824 2,713

Selling

GOLD IN VND PER TAEL

Ho Chi Minh City Hanoi Da Nang Can Tho

21,036 27,708 16,713 22,160 2,766

43,300,000

Buying

272.34

275.09

279.33

43,300,000 43,310,000 43,290,000 43,300,000

43,600,000

Selling

43,620,000 43,600,000 43,620,000 43,600,000

(Source: SJC)

Nha Trang
One tael equals 1.21 ounces

Prices as of 9:01 a.m. on January 5

(Source: Vietcombank)

Prices as of 8:50 a.m. on January 5

JANUARY 6 - 12, 2012

Q & A

15

Single-digit inflation target

W

feasible, says ADB exec

remaining difficulty, ith the world economy the mired Asian in Bank forecasts a

needs

leadership. improve should SOE for

strong

Development

difficult year ahead for Vietnam. However, it can achieve its goal of this year, ADB country director in Vietweek. reducing inflation to single digits Vietnam, Tomoyuki Kimura, tells

accountability. The government immediately

transparency

The

political first

step

will

is

and

and

to

information disclosure and hold their managements time the performance. a accountable At the

improve

same

should

the

Vietweek: How do you assess Vietnamese governments

framework business

develop to

government

aspects of the reform including restructuring governance. and and corporate

address

various

policy

commitment to restructuring the economy with a focus on public investment, and (SOEs)? state owned financial

financial

enterprises

markets,

appreciated the presence of Prime

Tomoyuki Kimura: We highly

affect

Several factors are expected to Vietnams economy the in

2012. Where do you see it going? economy Considering has not shown

Minister Nguyen Tan Dung at the Consultative Group meeting in where early December, reaffirmed the he

world clear

signs of recovery, we think that

2012 will be a difficult year for debt problems in the eurozone the specter of a deep

Vietnam. The growing sovereign and an anemic US economy raise economic downturn, which will economies, including Vietnam. global

g o v e r n m e n t s commitment restructuring the economy in 2012. promised to The to

have impacts on emerging Asian The impact could be clearly seen on Vietnams exports to eurozone economies and the US. Vietnams from the The ADB economic has lowered growth it had

g o ve r n m e n t banking continue and

restructuring investment.

financial sector, SOEs, and public development partners, Like other ADB

the

hopes to see concrete action in implementing the reform agenda. The root causes of economic

forecast for 2012 to 6.3 percent forecast last September. The government 6.5 percent

instability can only be addressed by deepening the financial sector, imposing state owned investment. market enterprises, discipline on

reducing inflation to 9 11 percent, and keep economic growth at 6.5 percent in 2012. To us, year on
PHOTO: BLOOMBERG

targets

improving the efficiency of public

and

year inflation over 20 percent is too government high. It is is prioritizing right the

Street vendors ply their goods in downtown Ho Chi Minh City. The Asian Development Bank has lowered Vietnams economic growth forecast in 2012 to 6.3 percent from 6.5 percent forecast last September.

in restructuring the banking and finance sector?

What are the biggest challenges

frameworks for accommodating unrest among and citizens or

the reforms without creating any society, human resource in

sufficiently

restructuring by reducing NPLs, system. The an capital adequacy not only

assess

the

cost

of

State

sector, the biggest challenges are the and tightened credit conditions, monetary policy and

For the banking and finance

which is really a challenge for the ratio (CAR) has been raised, but remains smaller banks, but also the larger ones, given the rising NPLs and sheets, including from exposure to loss making SOEs and the real estate sector. The CAR remains low by regional standards. How to and undertake more specifically the restructuring risk profile on some bank balance issue for

transform into a modern central bank looking based on which approach adopts and a forward market

Bank

of

Vietnam

to

economic stability in the short

term. Headline inflation fell from 23 percent to 7 percent in 2009, so it is possible to reach single digit inflation in 2012. The main risk to these

capacity building are challenges for the entire financial sector. addressing For the banking the due sector, the of

policy and conducts supervision compliance based approach. substantial individual These reforms improvement also a risk based instead of

principles

in

monetary

projections is premature easing of macroeconomic weakened inflation. global economic policies,

structural fight

monetary policy is necessary to inflation. However, it

risks.

Tightened

vulnerabilities growth in

structural to

created a credit crunch for banks and enterprises. The structural risk I mentioned growth, which has

prolonged period of high credit an environment

require in to

growth, and high external food In Vietnam, inflation remains inadequate. The

weak risk management systems State Bank of Vietnams

is the prolonged period of high credit loan

at banks and weaknesses in the regulatory More and supervisory since loan

manage risk and their corporate governance. and Given

banks

capacity

deteriorated the quality of banks adequacy continues to be an issue for many banks. a long term Financial sector restructuring is comprehensive and complex portfolios, while capital

framework remains a challenge. specifically,

and acquisitions of banks while ensuring creating stakeholders any deposits rights and is

mergers other

weaknesses in risk management corporate governance

the of

very high and foreign reserves remain Bank of Vietnam

some small banks, it is really a big challenge for the larger banks to management governance ensure and efficient risk

gradually reduce interest rates as inflation helping to safeguard dong assets Monetary been and fiscal policies helping trends down, thereby

should

State

classifications are based on the Vietnamese accounting system which the is less strict than of the

requiring financial

task,

costly reform of all aspects of the banking sector, capital markets, and other non banking financial institutions. In undertaking these sector, including the

and

international accounting system performing how precise magnitude loans is (NPLs) non and

challenge since restructuring the banking affecting different stakeholders, especially depositors As the who wide are range of sector is complex,

unrest

without also

weak small banks.

after

consolidating

corporate

and anchor inflation expectations. have consistent,

stabilize the exchange rate and transparency and communication would fiscal coordination. deficit enhance For example,

remain unclear. Thus the

much

unrecoverable point for

reforms, the cost, having in place necessary legal and institutional

restructuring the banking sector NPLs and related provisions to

starting

psychologically affected. reforms human sector such, require the the

easily

SOEs. What are the major issues in restructuring the SOEs? to manage resistance with I think the biggest challenge is groups

You also mentioned reform of

inflation trend down. Increased policy

banking

is an accurate assessment of the

and

resources

strengthening across of the

sector the

capacity

various

interests.

Restructuring

vested SOEs

from

include off budget items in line with international standards.

Reported by NGAN ANH

reported

should

the

16

ARTS - CULTURE

JANUARY 6 - 12, 2012

JANUARY 6 - 12, 2012

ARTS - CULTURE

17

Lawsuits, confusion taint local art contests

provinces Department of Culture, Sports and Tourism, explained that Tran Duy Ngoans photo book is still legal as long as Sy Minh doesnt proceed with a lawsuit regarding the copyright. Minh, who won prize A at the Member of the jury board Sy newspaper as saying, Ngoan and I took the photos together and Whereas, Ngoan said, It is thats why the two look alike. normal for two photographers create similar works. contest, was quoted by Tuoi Tre

promoting unfair competition by allowing to control a few

he Cinematography Law is movie

distributors

operations and decide the fate of small theaters all over the country, industry insiders say. between heavily Theres movie a conict of

cinema

cinema operators, and the la disadvantaged

distributors by

interest er are and the

Thi report last month.

situation, they said in a Saigon Tiep

Major legal flaw allows a few film distributors in Vietnam small cinemas to dominate market, hurting

Dark lining on the

Jewelry queen pageant mired in scandal again

HCMC The Vietnam Jewelry Queen contest has a er one of its contestants been rocked by scandal again said they were forced to serve wine to unknown men. Tran Thi Hoa said that

movie producers, distributors and cinema operators, the Vietnamese law requires movie distributors to own grounds and that run cinemas, it would on the

While other countries separate

popularize the movies. importers Megastar movie South

help

silver screen

before the nal round on

December 30, the organizers sent them to a party at the Ho Chi Minh City . Cobe Restaurant in District 3, They forced us to meet

Thus, Vietnams biggest movie and Galaxy Korea owned Ngan, of private

unknown men, one by one, saying: Nice to meet you. said. Please drink with me, Hoa Some of the contestants had

who went shooting together to Such occurrences are

having several cineplexs across the their own screening facilities. This is happening

rm

Thien

each

country tend to keep the lms for when

commonplace within the

Vietnamese art scene these days. region photo festival, held in the raised several questions when In September, the Southeast

Vietnam movie industry is having s

fainted during the party due to fatigue from previous training sessions a

the best time in its history. The have soared.

southern province of Binh Duong, first prize for photography went to Tran Tuy for his submission, Khuc dong ca (a childrens song), which was eerily reminiscent of Duy Anhs Tiep buoc cha ong (Follow in the ancestor s footsteps).
PHOTOS: TRAN TUY AND DUY ANH

market is booming and revenues Brian Hall, president and, CEO

they were not allowed to rest. ways to revive them so they continue serving wine, Hoa said. She also said that some

er which

But the organizers tried many

of Megastar, told the Film Business office receipts in Vietnam

Asia in early December that box

grown five fold in the past four years, from some US$5.8 million in 2008 to $35 million in 2011, the year when nine out of ten top all

had

of the men were her

acquaintances who said that they had paid US$200 to a end the party .

Duy Anhs Tiep buoc cha ong (Follow in the ancestors footsteps) (Above).
By KHANH HOAN

Tran Tuys Khuc dong ca (a childrens song) (Under), which was eerily reminiscent of photographer

the gold medal at the Mekong

Tiep buoc cha ong was awarded

time movies were released in the

Delta photo festival in 1998 and best prize by the association of 1999. Vietnam Artistic Photographers in According to photographer

country, besides Avatar in 2009. screened at Megastar

All of the rst run movies were

that document No. 4 was not

among many movies it distributed.

cinemas,

contestants had signed prior such a party the The Thao & , Van Hoa (Sport & Culture) reported. However, Minh Thuy ,

Hoa said the agreements

to the contest did not mention

works were announced in June,

Since the list of award winning

composed by the union, but by a member of the prize directing board, Nguyen Thi Phuoc. According to Sinh, Phuoc

Tran Vinh Nghia from Binh Thuan Province, the two photos are similar in light, lay out, and character and differ only in

46 out of the more than 100 movies blockbusters such as of leading

Last year, Megastar distributed

screened in Vietnam, most of them Paramount,

the 4th Ho Xuan Huong Awards central province of Nghe An

for Literature and Art, held in the every five years, has received

abused her authority by signing

the document, as the board does not have jurisdiction to act as an advisor to the committee. Therefore, the decision on

background. Duy Anhs work was shot in a studio, whereas Tran Tuys work was produced at a cemetery for war martyrs. According to photographer

Buena Vista and Fox. around 30 movies.

Universal,

studios

representative of the

organizers the Gold Fashion

Galaxy came next, distributing Other cinema operators in the movies as the

magazine, told the newspaper that the party was part of the biennial contest, which was licensed by the Ministry of

several petitions of denouncement regarding a policy which allows members of the jury board to submit their own works for consideration.

December 30 was improper

country did not benefit from as many priority were given to Galaxy and Megastar s said. cinemas, the screening

because the committees decision was actually made by a single individual.

Pham Van Binh of the Central

Culture, Sports and Culture.

the provinces association of

Pham Truong Sinh, member of

Highlands province of Lam Dong, some among the jury board did acknowledge the similarities

report

claimed in another newspaper right before the nal round that the organizers had been was an accusation that the well, the newspaper said.

An unnamed contestant had

Literature and Arts, made himself known earlier this month by bringing a lawsuit against the its December 13 decision regarding jury board participation.

category, the two award winning works look like replicas, though photographers: Sy Minh, a Tran Duy Ngoan. they were taken by two different member of the jury board and Minhs four photos: Nuoc mam

In addition, in the photography

between the two photos; however Khuc dong ca won the gold medal nonetheless.

largest cinema operator CJ CGV last between the July local from publisher a joint Phuong venture

Megastar, taken over by Koreas

bribed to choose winners. This contest had faced in 2007 as In response to the latest

provinces Peoples Committee for

known photographer Dao Hoa

Member of the jury board, well

Nam and Envoy Media Partners of opened seven cineplexs since 2006. the same period. The mistake British Virgin Islands,

Nu, explained that Khuc dong ca best photo submitted.

has

decision released November 22, 2010 stating that in order to maintain fairness, members of the jury board would not be allowed to submit their works to the competition.

The confusion began with a

Ngu Hai (Ngu Hai fish sauce), Ban Thuyen ve lach Van (boats heading to Van canal) and Le hoi den tho Trung Temple Festival) were the central province of Thua

won the prize because it was the The Ho Xuan Huong lawsuit

Galaxy has opened three during of the law is

Young cinema goers at the Galaxy theater in Ho Chi Minh City

allegations, Vuong Duy Bien,

PHOTO: TUAN ANH

cung nha nong (friends of farmers),

head of the ministrys

and other cases have raised

vua Quang Trung (Emperor Quang submitted to the photo festival in Thien Hue in 2007 and printed tinh nguoi (Love of land, love of 2006.

questions about the qualifications and criteria of prizes for art in Vietnam after a copycat scandal rocked the National Youth Fine Arts 2011 in Hanoi. The festivals organizer

allowing the movie distributors to hold sections of the market, and they can a control over

Department of Performing contests steering commi said he has ordered the on the case.

multiple

year

use the advantage in one section to dominate another, said Dr. Nguyen Ngoc Son, a law college lecturer in Ho Chi Minh City. 1990s, when

imports.

and

cinemas

depend

on

cinemas back to its own facilities.

the same year, the committee appeared to change its mind

However, on December 13 of

Falm in Ho Chi Minh City, or the National Screening Center,

Cinebox, Thang Long, Dong Da,

cities and provinces besides Hanoi, HCMC because and of this Da Nang market are

Small cinemas in more than 50 dying

Competition Megastar

position to x prices, hurting their businesses as well as moviegoers. They said Megastar has,

of

Authority abusing

its

accusing market

40 60 percent of Vietnams movie market revenue. the doors of Movie producers have to knock Megastar rst,

the

He said its revenue is good for national market as a whole

Arts, and also member of the ee,

based on a proposal from the

in the photography book Tinh dat, people) published by Nghe An in However, the four photos also

eliminated Do Trung Kiens

provinces Literature and Arts

painting Cho xu ly (Wait to be

Many people point to the late movie

Chu and Thang Tam in Hanoi are under a lot of pressure in ge movies to screen in their facilities.

Dan ing

Around 20 percent have shut down have been converted to bookstores or shopping centers. screen Another the format who is refusing of

control.

Union. Official document No. 4 22 decision on December 30,

treated), as the work differed only in colors and minor details when 2010 painting, Phuot II compared to Nguyen Quang Hais (Backpacking tour II), which was

Visionet, a joint venture of Cinema South Korean A Net had

distributors

nationwide the past ten years. Some

June 2009, insisted on a minimum

since

they are told not to give the movies to us. At the end of the day movies are , mostly by a section

and

since it will help Megastar negotiate with foreign partners to have more rst run movies for local audiences. triple by 2016, hi in gross ing $110 million and

organizers to prepare a report Bien said the department

payment of VND25,000 on every ticket for a movie that it distributes, which li le on means set ticket cinemas prices will in earn the

Hall forecast that the market will revenues, screen

will have an ocial response the earliest, the newspaper reported. The h edition of the

effectively reversed the November affirming once again that jury board members could indeed compete at the event.

One and Falm Vietnam, and the compete for cinemas. to

movies to other cinemas, it also xes the prices and screening time, the cinemas said. formats

When Megastar distributes the

enjoyed

appear in Tran Duy Ngoans book Vietnam que huong toi (Vietnam, the Ho Xuan Huong Awards. my fatherland) and won prize B at However, the inspector of the

displayed at Hais master s degree graduation ceremony in Russia in May of that same year.

the sole power is in the hands of the

Now things have changed and

That is one of the two domination industry is away using, insiders turning

distributors

movies

But further inspection revealed

distributors, because few quality

VW

Vietnamese lms are made every

Megastar audience

say the

other cinemas.

give

movies

foreign

to

audience living in big cities who can aord expensive tickets, Tue said. But Hall of Megastar said its fair er it has spent

of

to the allegations this week at

number will hit 350 compared to the current 100. But all the experts are agreed that amended to allow fairer

to

VND25,000 40,000 range. complaint. cinema

No action has been taken on the Tran Canh Tue, director of a small theater in Dong

from

smaller

Galaxy, in May 2010 led a formal complaint with the Vietnam

Six cinema operators, including

for the company to make demands on small cinemas a a blockbusters. lot of money

the Cinematography Law needs to be

contest wrapped up in HCMC with Tran Thi Thanh Truc, 19, crowned the winner,

Province, said Megastar is taking

Nai

importing

competition so that all businesses can thrive, irrespective of their scale and size.

defeating 18 other nalists.

VW

VW

18

ARTS - CULTURE

JANUARY 6 - 12, 2012

borrowed from Ba Chua Kho at the beginning of this year. Thanks to this dicult year. business ma is her support, we have done well in According to Thang, success in er of luck. I have a strong sometimes only a

belief in Saints and Gods and Ba

Chua Kho is the best place to pray for good luck in business, Thang said. Thanks to her support, I Thangs friend Pham

have made a lot of prot this year. Hoa from Dong Da District has not been very lucky this year. He lost a lot of money in real estate projects was returning to the temple to Thanh

due to the stagnant market. Yet, he repay his debt and pray for a be year in 2012. er

always feel more secure about our business a

We are not superstitious but we

for Ba Chua Kho support, Hoa s said. We had done really well over the last years but this year the

er coming here to ask

situation is the same for almost everyone in our market, it is not that Ba Chua Kho has not blessed us. Hoa
The Ba Chua Kho Temple in the northern province of Bac Ninh becomes busy with visitors returning to pay back their debt to Ba Chua Kho
PHOTO : PHONG LAN

Like all other visitors, Thang, and their friends fruits,

prepared a big tray with votive money and gold,

each

boiled chicken, pork, etc. to oer to trays to her altar, folded their

cakes,

In debt to a deity
By PHONG LAN

Ba Chua Kho. They brought their hands and reported their business results for this year. They told her and thank her for her support they had come to repay the money through out the year. While the exact

transactions is only known to the

amount

of

T
need in

and want to pay her back before the lunar year ends. many local This is a popular custom that for entrepreneurs years. The custom have

wife lead busy lives but they are to repay very mindful debts the on of time, their

ruong Quoc Thang and his

people to break fresh ground for enemy while distributing food to people on 12th January, 1077.

wild

land,

by

calling

upon

their business plans, especially the sum borrow for their investment. And at the end of the year, they come the money (in votive back to thank her and pay her back which they had borrowed earlier. currency) of money they want to

devotees and the deity herself, a rough guess can be made by looking at the oerings on their trays. altar, A they bring their er reporting at Ba Chua Kho s to her store, repaying votive

cultivation. She was killed by the

followed

especially

happens to be a deity . Hanoi always

when

creditor

originates in a legend dating back long time ago. Kho was the The legend has it that Ba Chua Queen of the

Villagers in Co Me built a temple

oerings

to commemorate her right at the called her Ba Chua Kho, which means Lord of the Granary . Khos generosity, many

their debt. They would also receive some votive papers as a gi beginning There of the year, Ba Chua Kho at this time. At the would mean a loan. Thangs wife are also who the gi

The residents of Ba Dinh District make time to

return to the Ba Chua Kho Temple in the northern province of Bac Ninh at the end of the year.

Dynasty. She was both beautiful to look a store

Ly

place where the store stood. They

is 20 kilometers north of Hanoi, becomes these times. Thang, extremely who crowded a hotel

As such, the small temple, which at

from

and intelligent. The King asked her during a war against the

er the countrys food er the and

Since then, trusting in Ba Chua entrepreneurs, people, o en

of the New Year Holiday to go with partners some and of friends their who

This year, they took advantage business

Chinese Song invader. A people rebuild food. their

especially

enemy was defeated, she helped produce She founded lives

visit the temple in the beginning of some money to invest in their

Hanoi, also comes to Ba Chua Kho two times a year to borrow and return money .

runs

in

people come

simpler wishes.

with

like

the lunar New Year to borrow business and pray for her support. In their prayers, they tell her about

owe some money to Ba Chua Kho

also

village of Co Me, which was then

the

year, Thang said. I am going to return VND500 million which I

Our business has run well this

so I dont borrow money from Ba Chua Kho, she said. I just come to pray for health and happiness for our family .

I am a nurse at a health center

VW

Book Streets to complement Flower Street

By DINH PHU

mobile library as well as special books for the blind will also be displayed on the third street.

national history.

Flower Street display during this

HCMC - The annual Nguyen Hue

Mac Thi Buoi will display books well as photos of Vietnams

The traditional street on

gadgets will be introduced on this section. The second street will also

also include interaction between

The 7-day book street fest will

readers and authors, calligraphy for visitors.

performances and a coffee space

years Tet (Lunar New Year) holiday will be once again accompanied by three book streets in Ho Chi Minh City from January 20-26.

on history, tradition and culture as dynasties and Saigon in the past. It will also highlight the countrys especially over Hoang Sa (Paracels) and Truong Sa (Spratlys) of Vietnam. sovereignty through generations,
PHOTO: HOANG THACH VAN

include the display of special

VW

editions of local magazines and together with a photo exhibition newspapers for the Tet holiday

LUXURY VILLA FOR SALE

Address: Riviera Cove, Phuoc Long Ward, District 9. Area: 463.53m2, Floor: 2, Living room: 1, Bed room: 3, Bathroom: 6. Price: 21.000.000.000 (also negotiate) Regular documents Complete date: February, 2012. Tel: Ms. oa: 090 311 1850

the habit of reading books, will be launched in three downtown locations: Nguyen Hue Boulevard, Street.

The event, which aims to revive

featuring Vietnams achievements in foreign affairs, and Ho Chi Minh Citys zoning map to 2025.

Visitors read special editions of local book street in Ho Chi Minh City

magazines and newspaper at last years

Mac Thi Buoi Street and Ngo Duc Ke Titled Tradition, present and the

the country and people in general and the city in particular. According to the organizers, each

cuts across Ngo Duc Ke and Mac

A section of Nguyen Hue which

show documents and photographs of projects and buildings in education, health care and recreation for children.

The Ngo Duc Ke book street will

Thi Buoi streets will be the part that New books published by

future, the streets will feature

connects the present with the future. international and local publishers,

photographs, documents, and

books that provide an overview of

of the three book streets will

represent a distinguished period in

together with various ebook reader

exhibition and traditional, folk

In addition to a childrens book

games and other activities for kids, a

JANUARY 6 - 12, 2012

ARTS - CULTURE

19

LONDON

laid blue carpet for the European premiere of prime minister Margaret Thatcher which could win her an Oscar. Streep braved the drizzle to walk up the The Iron Lady , the biopic of former British

Meryl Streep took to a specially

carpet matching Thatcher s trademark blue outts and her Conservative party s traditional on Wednesday . color at the BFI Southbank in central London Her performance as the grocer s daughter ing her in line acclaim,

who changed the face of Britain has earned her a Golden Globe nomination, pu While Streep s acting has

to win the third Oscar of her career next month. Thursday s early reviews were mixed. stars out of ve, calling it a shallow end . Muir won

Times reviewer Kate Muir gave the lm three performance of

great depth that is condemned to stay in the criticized the lm s emphasis on

feminism over politics which le years The almost unrecognizable.

the Thatcher Daily Mail

US actress Meryl Streep poses on the blue carpet as she arrives to attend the European premiere of the film The Iron Lady at BFI Southbank in London on January 4

awarded only two stars, running the headline: No! No! , echoing one of Thatcher s most famous speeches. Streep downplayed the talk of another An Oscar prospect, yes... but a great lm? No!

staunchly Conservative

PHOTO: AFP

on Friday yet many who have say Streep has , captured the essence of the woman whose legacy is still the subject of intense debate.

Broadbent, himself an Oscar winner in 2002, is ever present as his wife looks back on her career as she rises from modest beginnings to become Britain s rst and still only woman premier. Thatcher took over a country

yet the o

goals continues to divide opinion, as does the war over the Falklands. Yet Streep also shows Thatcher s undoubted

en ruthless way she achieved her

Academy Award, focusing instead on the challenge of playing the former British premier age troubled by dementia. from the start of her political career to an old She was someone with a big ambition and

hair and clothes in the role as near perfect, and the distinctive voice which

Film critics have pointed to Streep s bouant Thatcher

worked so hard to perfect booms throughout the lm. Streep confessed she knew li le about

economy was sorely in need of modernization,

whose

toughness as she brushes o the IRA s a in 1984. AFP

to kill her in the bombing of a Brighton hotel

empt

who made an enormous mark on her time. She

was arguably the strongest and the only female broke ground, Streep told reporters as she

Thatcher s policies before accepting the role

leader in the Western world at her time, so she arrived for the premiere.

but defended the decision to make a lm about a woman who remains a divisive gure in Britain.

play someone at the waning of her life... and that interested me too because there aren t very many lms that pay a The lm has already opened in Australia ention to older ladies.

But beyond that, it was an opportunity to

because people tended to look at her either as the savior or the destroyer of the UK. And at this point in time the feelings are still as vehement it seems to me, premiere. she said at the

That was part of what made it interesting,

and the United States, but its premiere at a

venue along the Thames from the Houses of Parliament, which Thatcher dominated from 1979 to 1990, has special resonance.

the Abba smash hit Mamma Mia! starts the action in the present day with an elderly , Thatcher clearing out her late husband Denis s clothes. The ghost of Denis, played by

Director Phyllida Lloyd the woman behind

have seen the lm, which only opens in Britain

Few of Thatcher s cabinet colleagues or rivals

Jim

Manila promises help for 'Jason Bourne'

MANILA - Even movie super-spy Jason Bourne Philippine capital Manila. needs help against the nightmarish traffic in the Metro Manila chairman Francis T olentino is to be more sensitive to the once-in-a-lifetime shooting opportunity." "We will advise the neighborhoods concerned taking steps to avoid chaos on the roads when the latest installment in the blockbuster series, "The Bourne Legacy", starts filming in this country later this month. suffering from memory loss, was originally The character of Jason Bourne, a CIA agent created in a series of books by Robert Ludlum turned into hugely-successful movies: "The and Eric Van Lustbader which in turn have been Bourne Identity," "The Bourne Supremacy" and in the title role.

city will be used for car chases and action sequences, T olentino said.

Some of the major roads in the traffic-clogged

"The Bourne Ultimatum," all starring Matt Damon However Damon will not return for the fourth ,

routes during shooting days, he said, adding that teams will be deployed for crowd control and to re-direct traffic. "The movie will be shown worldwide. Its best

Motorists will be advised about alternative

reported. The story, therefore, resumes after the conclusion of The Bourne Ultimatum, consequences of Bourne's actions. AFP AGENCIES , as a new cast of characters grapple with the

film, the online magazine Deadline Hollywood

that we clean the area first before filming," T olentino told reporters.

20

ARTS - CULTURE

JANUARY 6 - 12, 2012

Through The Lens

1984 war masterpiece Bao gio cho den greatest filmmaker - with such films as the Dang Nhat Minh, arguably Vietnam's

movies were entered.

international film festival where Iranian

had no chance of winning at any

once told his students that he knew he

news of his death to spare his father -

about a soldiers wife trying to hide the

thang 10 (When the T nth Month Comes) e

Vietnamese cinema to find the answer . In Through The Lens, she will also wade

Thuy linh will shine the spotlight on

Vietweek starting this week, film critic

some critics carp? In a monthly column in

they mired in escapism and sleaze, as

to the exalted Iranian standards? Or are

Can Vietnamese films hope to match up

The value of Le Hoangs cheap soft-core movies

she got anything without paying a high price. undermines This is a poignant scene that widely used in popular culture as well as in Hoang lms. It is this s poignancy that gives his otherwise so Some porn movies depth. of the skin baring in the Cinderella motif movies is almost repulsive rather than his own a his titillating, which again undermines think Hoang gives what many people want deep down but at the same time is satirical. sex and violence empts to exploit sex. I

also abroad.

that arent just recognized in Vietnam but

filmmakers about how to make movies

into the ongoing discussion among local

improve.

seeing the quality of Vietnamese movies

admits to having a vested interest in

of Massachusetts Boston in the US

This English graduate from the University

By THUY LINH

L
than

latest porn

Hoang s ick, so

characteristic Le Hoang satire. It is

At 8 Tonight has its share of

about four poor girls trying to snare

rich guys, and asks a straightforward sleep with you? For one, the price is

T oi nay 8h! (At 8 his earlier ones,

question: How much does it cost to a US$40,000 diamond ring. For a leader of the group, who seems to be the strongest and proudest, it

Tonight), just like are less cheap people think. especially the The

second, it an expensive car. For the s is

many

verdict, from media, critics, and

A scene in Le Hoangs latest film, At 8 Tonight

friendship: she wants to have money to give it to the fourth girl, who is the most
PHOTOS: LAN ANH MEDIA COMPANY

lmmakers, is that Hoang movies s cheap bore.

local

among them.

innocent

and

vulnerable

based on titillation have become a In 2003, when he made his rst

movie about prostitutes, Gai nhay (Bar Girls), he managed to draw audiences back to watch Vietnamese a ract them because they

exploring the gri

Indeed,

Hoang

in Bar Girls, but merely uses it to

y aspect of bar life

starts

by

(except true love, as suggested by the lm as a whole). She even

The vulnerable girl has no price

points a rie at the man who asks the question. Though Hoang recycles his old

set the stage for portraying romance

lms which for years had failed to stuy and mostly about the war. were

and strong women in later movies. who chooses by poverty

Even that lm has a character, Hoa, to become a bar girl.

plotline of strong females pointing guns at males, this lm satirizes the Vietnamese preoccupation relationships girls theme us and may in rich media s with

rather than is forced

made some war movies, such as the award winning Blade) and Ai xuoi Luoi van dao ly (Knife (Who

Before Bar Girls, Hoang too had

She is from a wealthy family and her parents, who are too busy to care

becomes a bar girl to rebel against for her. The strong female character rebelling against conventional ideas about women is a recurring theme in his later movies.

between

materialistic beautiful but the

current

traversed thousands of miles), which earned him a solid reputation among local lmmakers.

question may well be addressed to materialistic age. throw

straightforward question that satirizes materialistic relationships: how much does it cost to sleep with you? Director Le Hoang (L). His latest sleazy movie, Toi nay 8h! (At 8 Tonight), revolves around a

be

businessmen. gossip,

The

all

this

cynical

and

sex and drugs to a indeed a

Bar Girls was criticized for using racted

ract audiences. It audiences,

garnering VND12 billion in ticket Vietnamese cinema at the time. column even led As I mentioned about director in a Vu

as Bar Girls II, in the character of

pho (Street Cinderella), also known

It evolves most fully in Lo lem he

Hoang s

characters we can identify with. But I agree with critics that he should move on trash, but because it is time for him to nd a middle ground between art house movies that dont sell and low not because these lms are

up

so

some

porn

healthy

movies

female

thus

sales, an unprecedented gure in previous

Hanh, an ambitious actress who worker (Hoang never actually lets her sleep with men though) just to Though the focus of play the role of a prostitute in a lm. Cinderella is split between Hanh and Hoa anc Street

leaves her anc to become a sex

honesty of her feelings anc anymore.

Dang, Bar Girls is part of, or could overexploitation of social ills that has looking like documentaries. journalist For instance, and police the to movies and TV have started, the current

Ngoc

lost her innocence and cant love her She is, in other words, Hoang s

Hanh has

other girl, who has fallen for the wealthy man, lives happily ever a with him.

er

dramas

a real prostitute with whom Hanh s absence falls Hanh in love is during the more her

the Cinderella in the lm,

version of Louise in Thelma and

Louise. Her anc loss of innocence s

are telling. With the rst girl, the message is clear in another job. one would the robbing business, the so

The two scenarios Le Hoang posits you cant beat men nd

brow skin icks and acceptance with both critics and audiences. He was once capable of this. Vi dang tinh yeu (the Bi

nicely parallels her own: he only prostitute who teaches him that love entails pain and sacrice. Hoang s rebellious In Nu tuong cuop (Female Robbers), females

righteous

learns to love when he falls for the real

characters and the nal conference in Bar Girls in which an ex prostitute talks about her regrets and a

ocer

interesting character.

frames Hanh face as she realizes, s a she has lost her anc to another woman. understanding. She Here looks we sad have er she returns from lming, that

One shot at the end of the lm

classic Cinderella: your job is to win a good, rich man heart. s Before Thu is able But this isnt the whole story. to win

think

With the second, Thu, message is

Love), a 1990 movie about students life and love which he co scripted with Viet Linh, remains one of the most popular love stories in Vietnamese cinema. critically acclaimed and

er T aste of

tribulations take away from what could complex otherwise lm about have women been

neither prostitutes nor artists but

are

contemporary Vietnamese society . more justice if we watched social

in

but a

robbers. The two leading characters disguise themselves as vulnerable rob them. wealthy A women to fool men and drug and er they succeed in relieving a man of a large sum of

mans heart, she has to cut off a

her

finger to prove her character and asks her to cut off the mans not

esh out the best female characters in his movies by giving them some intellect and moral courage rather

One possible way for him to go is

In fact, we would do Hoang much his

woman who chooses art and career over the more obvious option, love. world of prostitutes A er experiencing rst hand the

love. Earlier her partner in crime finger to threaten his sister into paying a ransom. Thu,

than just street smarts and physical courage, and moving them away from titillation into the one inhabited by ordinary women. unlimited. the world of sleaze and

movies for his take on gender and romance because no rather new than ground can be

ills

realistically in a scene as a prostitute, breaking down and crying a

she acts so er the

money one of them refuses to reform ,

and lead an honest life and ends up being robbed and raped by some men and commi ing suicide. The

wanting to betray either of them,

decides to cut off her own finger. When the man asks her why, Thu replies that never in her life has

broken here.

director says cut because of the

Then the possibilities could be

VW

JANUARY 6 - 12, 2012

HEALTH

21

Do hot pots melt contact lenses?

R
steam man wearing contact lenses er eating hot pot the melted umors about a Taiwanese
People wearing refractive glasses, especially to stay away from fire and heat

trauma a

being hospitalized with eye apparently the

contact lenses, are always warned by doctors

PHOTO: SHUTTERSTOCK

lenses has prompted Vietnamese doctors to warn about the poor awareness country . of eye safety in the

lenses melting or sticking to the to be vigilant near heat and re. the Asia Pacic Academy

There are no conrmed cases of

eye, but doctors say wearers have Dr. Le Thi Hai Chau, a member of

Ophthalmology and the Asia Pacic says people wearing refractive

of

Prevention of Blindness Association, glasses, especially contact lenses, are always warned by doctors to stay away from re and heat. Saigon Dr. Tiep Thi

But people usually forget this, quotes her as

saying.

aphthalmologist there la are two

Nguyen

Dinh

Military Medical University, says lenses, hard and so and easily kinds , of which the in high of contact

at

Ngan,

Vietnam

an

er, made of silicon hydrogel deformed

glasses. the

Dr. Phuc says the glasses absorb heat and around is increase not the eyes, for the

temperatures, including steam, is more popular in Vietnam. Ngan tells Vietweek in an email

that the deformity depends on the rate of hydration of the material, which ranges between 38 and 78 percent.

corneal cells. He also

something

temperature

heals. Minh

since an injured eye never fully Dr. Vu Anh Le of the Ho Chi City Ophthalmology

should be completely prevented

and quicklime, he says.

that

good

from the university, tells Vietweek of temperature similar concerns with all over kinds high of

Yen Lam Phuc, another doctor

will damage their quality . and other eye related

motorbike saddles since the heat Doctors also warn that infections injuries

in

with refractive glasses, wear them a sauna, or put them under

should not use hot water or dryers

warns

that

people

the hospital. The

for a high proportion of cases at most common causes

Hospital says eye injuries account

necessary . things

rushing

should be washing the eye before to hospital if still

Le advises that the only rst aid

Except when there is bleeding,

desired results.

of time and money but rarely gives Injuries always leave serious

Eye injury treatment costs a lot

People must not try to remove from their eyes on their

steam, and substances like glue

burns

by metal debris, soil, rock; and from lighter explosions,

or bo

injuries are being hit by balls, sts,

of

le lids; penetrative injuries

saying.

own, Saigon Tiep Thi quotes Le as But the best solution is to protect treatment is never

eyes.

lead to blindness or the removal of Children should be taught about

and beauty. Sometimes they even

consequences in terms of eyesight

completely eective, he says.

because

the eyes from any possible injuries

safety regulations, he says.

be careful and follow workplace

their eyes while adults too need to

playing games that could harm

eye protection and prevented from

VW

After the heady stuff

PHOTOS: SHUTTERSTOCK

liquor

some mitigating dietary measures reduce drunkenness but also ease the burden on the liver. can be taken that can not only

consumption,

there

are

dropwort, grind and squeeze them

er drinking: Wash a

handful

of

water

Eating food that helps detoxify, while drinking liquor is among reduce drunkenness but also ease the burden on the liver

for their essence. The juice not only helps you sober up but also helps prevent heavy bout of drinking. headaches following a

including orange and strawberry, the measures that can not only

Before consuming alcohol:

reduce the absorption of alcohol in the bloodstream as also prevent to in the stomach. beans soup to burning of the mucous membrane + Have a bowl of sweet green a as certain it acts extent. as The

+ Eat one egg white. It is said to

and 16g of dry kumquat skin into very small pieces, mix and place drink a er 15 minutes. them in a cup, pour hot water, and + Chop two white turnips (or

+ Slice 5g of tender tea leaves

Center City .

the

Dr. Huynh Tan Vu from University in Ho Chi Medical of Minh

stomach,

according

alcohol consumption and cirrhosis of the liver has been obvious for some time now, although it might seem that this knowledge has not been a deterrent in many countries

The

link

between

excessive

including useful

absorption of alcohol by the body , especially its speed, depends on the food in ones stomach.

to

Vietnam.

remember

It

might that

the

be

motor

Apart from the obvious loss of control, and vomiting, slurred excessive

starchy food.

down absorption more than

with

consumed fa y

The

nature food also

ma

food

agents

detox

radish) nely, put them in a cloth bag to squeeze the juice out. Add a pinch of sugar to sweeten. + Slice three small pieces of

slowing

ers,

green beans are also said to cool the liver. + Drink one glass of lemonade

with sugar; or eat some sour fruits, as these help neutralize the alcohol to an extent.

ginger, chop nely Mix with 60g of . vinegar and 15g of sugar. + Squeeze one lime for its juice, Sugarcane bi er juice, tomato juice juice of

nausea

speech,

or cut into thin pieces for eating. and melon

alcohol consumption can inhibit

respiration and facilitate the onset no be er way to avoid these

some

While drinking liquor, have food white that helps turnip, celery

of hepatitis, Vu says. While there is problems than abstinence from

including

detoxify,

help as

cabbage, water dropwort, orange, from green beans.

drinking way is

mitigate

Alcohol hits faster on an empty

strawberry lemon, or dishes made ,

remarked to

alcohol.

the

impact the

also

(Y HOC PHO THONG)

avoid

earlier, ge

However, drunk. best

ing

22

AROUND TOWN

JANUARY 6 - 12, 2012

10:10 Crazy Heart (Drama) (Comedy)

Fiction)

Machine Gun Preacher

11:05, 14:30, 18:45, 21:15 Fr i d a y

12:05 Cheaper By the Dozen 13:45 The Expendables (Action) 15:30 X-Men: The Last Stand 20:00 Hancock (Action) (Action)

Mission: Impossible - Ghost Protocol GALAXY CINEMA

Basketball (L) 13:30, 16:10

MEGASTAR CINEPLEX
www.megastar.vn 6th Floor, Vincom City Towers 191 Ba Trieu St., Hai Ba Trung Dist. Tel: (04) 3 974 3333 January 6-12

07:00 Big East Conference 14:30 NCAA Womens Volleyball 18:30 Sportscenter Asia (L) Championship

11:00 Temple Grandin (Drama) 15:50 Free Willy: Escape From Pirates Cove (Family)

Fr i d a y

www.galaxycine.vn 116 Nguyen Du St., Dist. 1 Tel: (08) 3 823 5235 January 6-12

17:30 Cats & Dogs: The Revenge 23:10 Frozen (Thriller) Saturday of Kitty Galore (Family)

21:40 Tangled (Animation) Sunday

21:30 Football Asia 2011/12 Saturday

MEGASTAR CINEPLEX
www.megastar.vn 7th floor, Hung Vuong Plaza, 126 Hung Vuong St., Dist. 5 Tel: (08) 2 222 0388 January 6-12

Spell Bound
1 6 :4 0 , 1 9 : 0 0 , 2 0 : 1 0 , 2 1 : 2 0

10:10 Cars (Animation)

08:00 Big 12 Mens Football Bowl Classic 2012 (L)

The Darkest Hour (3D)

21:45

0 9 :4 0 , 1 0 : 5 0 , 1 2 : 0 0 , 1 4 : 2 0 , 1 5 :3 0 ,

12:35 Remember Me (Romance) 16:15 Bewitched (Comedy) 21:45 Stealth (Science Fiction)

2011/12 - AT&T Cotton

09:00, 12:10, 14:10, 16:05, 19:55,

11:30 Van Helsing (Action) (Action)

14:00 How to Train Your Dragon 15:45 Hachiko: A Dog's Story 19:15 She's out of My League 21:00 The Losers (Action) Sunday (Comedy) (Drama)

12:30 ABL Best Games XXIV (L)

14:00 Hyundai Hopman Cup 21:30 Sportscenter Week in

The Flying Swords of Dragon Gate

11:50, 16:40, 19:10, 21:30

Spell Bound
1 5 :2 0 , 1 6 : 3 0 , 1 7 : 4 0 , 1 8 :5 0 , 2 0 : 0 0 ,

My Week with Marilyn

0 8 :5 0 , 1 1 : 0 0 , 1 3 : 1 0 , 1 5 : 2 0 , 1 7 :3 0 , 1 9 :4 0 , 2 1 : 5 0

0 8 :2 0 , 1 0 : 4 0 , 1 1 : 5 0 , 1 3 :0 0 , 1 4 : 1 0 ,

Fr i d a y

Review 2012

Toi nay, 8 gio! (At 8 Tonight)

10:50, 14:55, 17:05, 21:30

08:00 Anderson Cooper 360 09:00 Piers Morgan Tonight 12:00 World Sport 10:00 Quest Means Business 16:00 World Business Today 20:00 News Stream 22:00 International Desk Saturday

11:00 Great Run Review 2011 Fest Der Schoenheit

Sunday

Alvin and the Chipminks: Chipwrecked

10:15, 13:00, 18:00

My Week with Marilyn

0 8 :5 0 , 1 1 : 0 0 , 1 3 : 1 0 , 1 5 :1 5 , 1 7 : 2 0 , 1 9 :3 0 , 2 1 : 4 0

2 2 :2 0

The Flying Swords of Dragon Gate

1 2 :2 5 , 1 4 : 5 0 , 1 7 : 1 5 , 1 9 : 4 5 , 2 2 :1 0

The Darkest Hours (3D)

1 8 :3 5 , 2 0 : 3 0 , 2 2 : 2 5

17:30 Berlin 1936: Olympia I 20:00 Spirit of London

12:15 Goldeneye (Action)

Machine Gun Preacher

09:20, 14:10, 19:00

The Flying Swords of Dragon Gate

0 8 :1 5 , 1 2 : 4 5 , 2 1 : 1 0

0 9 :0 0 , 1 0 : 5 5 , 1 2 : 5 0 , 1 4 : 4 5 , 1 6 :4 0 ,

16:30 The Book of Eli (Action) 18:50 The Social Network (Drama)

The Darkest Hours (2D)

08:30, 09:20, 10:25, 11:15, 12:20, 13:10, 14:15, 15:05, 16:10, 17:00, 18:05, 18:55, 20:00, 20:50, 21:55, 22:45

246 Nguyen Hong Dao St., Fr i d a y Ward 14, Tan Binh Dist. Tel: (08) 3 949 4567 January 6-12

The Darkest Hours (3D)

1 4 :1 5 , 1 6 : 1 0 , 1 6 : 4 5 , 1 8 :1 0 , 2 0 : 1 0 ,

21:00 The Tourist (Drama) 22:40 Inception (Action)

08:00 Anderson Cooper 360 09:00 Piers Morgan Tonight 12:00 World Sport 10:00 Quest Means Business 16:00 The Best of the Situation 20:00 Talk Asia Room

0 8 :1 0 , 0 8 : 4 5 , 1 0 : 1 0 , 1 2 :1 0 , 1 2 : 5 0 ,

09:00 Australian Open Classic 20:00 Hot Water 2011/12 Show Match 2007

Fr i d a y

21:30 FA Cup 2011/12 Preview

The Darkest Hour (3D)

17:15, 19:00, 20:50, 22:00

09:00, 10:15, 12:00, 13:45, 15:30,

The Darkest Hours (2D)

1 0 :4 5 , 1 5 : 1 0 , 1 7 : 1 0 , 1 9 :1 0

2 0 :4 5 , 2 2 : 1 0 , 2 2 : 4 5

Alvin and the Chipmunks: Chipwrecked

0 8 :3 5 , 0 9 : 0 0 , 1 0 : 3 0 , 1 0 : 5 5 , 1 2 :5 0 ,

09:00 Dear John (Romance) 14:40 Prince of Persia: The

10:50 Tron: Legacy (Horror) Sands of Time (Action)

22:00 International Desk Sunday

Saturday 19:00

The Flying Swords of Dragon Gate

10:00, 12:15, 17:00, 19:15, 21:30

18:15 The Expendables (Action) 20:00 X-Men: The Last Stand (Action)

08:00 CNN Marketplace Europe 09:00 CNN Presents 12:00 World Sport 10:00 CNN Newsroom 16:00 African Voices

19:40 FA Cup Match (L) 21:55 FA Cup Match (L) Sunday 20:00 22:30

FA Cup Road to Wembley (L)

11:30, 21:45 Protocol

Toi nay, 8 gio! (At 8 Tonight)

Toi nay, 8 gio! (At 8 Tonight)

0 8 :3 5 , 1 3 : 1 5 , 1 7 : 5 5 , 2 2 : 3 0

1 4 :4 5 , 1 6 : 4 0 , 1 8 : 3 5 , 2 0 : 3 0 , 2 2 :2 5

Mission: Impossible - Ghost

0 9 :1 5 , 2 1 : 1 5

Toi nay, 8 gio! (At 8 Tonight)

09:35, 11:40, 13:40, 14:40, 15:45, 17:45, 19:45, 21:45

Mission: Impossible - Ghost Protocol

21:45 Avatar (Science Fiction) Saturday

08:35 The Lost Future (Science

20:00 Fareed Zakaria GPS 22:00 International Desk

20:25 FA Cup Match (L) 22:55 FA Cup Match (L)

FA Cup Road to Wembley (L) FA Cup Road to Wembley (L)

Alvin and the Chipmunks: Chipwrecked

09:15, 10:50, 12:45, 16:40, 18:30, 20:15

Alvin and the Chipmunks: Chipwrecked

08:45, 11:25, 14:05, 16:50, 19:30, 22:10

Cot moc 23 (Pole 23)

2 0 :2 0 , 2 2 : 3 5

0 9 :3 0 , 1 0 : 5 0 , 1 3 : 4 5 , 1 4 :4 5 , 1 5 : 4 5 , 1 7 :4 5 , 1 8 : 4 5 , 1 9 : 4 5

0 9 :5 5 , 1 2 : 1 0 , 1 4 : 3 0 , 1 6 : 5 0 , 1 9 :1 5 ,

Complete the grid so that every row, column and 3x3 box contains the numbers 1 through 9 (no repeats).

Difficulty rating: Difficult

Difficulty rating: Fiendish

of five overlapping sudoku grids. The standard sudoku rules apply to each 9 x 9 grid. Place digits from 1 to 9 in each empty cell.
14. Cry (7)

Samurai sudoku puzzles consist

Across

8. Ledge (4) 10. Flat (5)

19. Wind instrument (5) 22. Ability (8) 24. Gratis (4) 25. Gas (8) 23. Bucket (4)

Difficulty rating: Hard

1. Debris (8) 6. Quote (4)

15. Insect (6)

Down

17. Victor (6)

2. Rear (5)

Every row, every column, and one of each digit.

3. Gather (7) 5. Group (8) 6. Seat (5)

9. Erroneous (8) 11. Stone (6) 13. Jerk (6)

4. Military force (4)

16. Music (7)

every 3 x 3 box should contain The puzzles on Samurai sudoku

18. Artless (5) 20. String (5) 21. Curve (4)

7. Lattice (7)

have one unique solution which guessing required.

(Visit www.thanhniennews.com for solutions)

12. Complete (8)

can be found with pure logic, no

JANUARY 6 - 12, 2012

TALK BACK

23

Vietweek welcomes readers response and publishes them every Friday. Please direct your comments to: letter@thanhniennews.com

We reserve the right to edit comments to fit space. A legitimate mailing address and phone number are required.

Dont let 5-star culture spoil the real Vietnam

Re: Poor infrastructure bane of Vietnamese tourism
(Thanh Nien Weekly, Issue 114, December 2 8, 2011) Before reviewing G R McKenzie s article Vietnam seems to be based on staying at

Slaps on the

wrist wont cut it

Re: Vietnam plagued by illegal cabs
If you want to resolve this quickly , (Thanh Nien Weekly, Issue 118, December 30, 2011 January 1, 2012) those people who obey the laws look stupid, so nobody obeys the law.

(The way to go: good roads, clean streets,

December 16 22, 2011) I would like to say to Jim Luke the reasons you received such a negative response to your original article (Homesick or Sick of New Home, Issue 101, September 2 8, 2011) was that, in my

hotels, resorts and taking tours. Based on my New Zealand experience and knowledge, Vietnam appears to be missing out on the backpacker cyclist type. What I have read more money in their travels than those

you just take away the taxi; it becomes be put up for auction with the money

government property The taxi can then . going to charity As for others who drive . Vinasun, give the driver an automatic

stupid. Eventually nobody wants to be , And most of the time, the penalties are

in New Zealand suggest these people spend taking tours. New Zealand is at the moment spending a lot of money constructing a series of mountain bike/walking trails

for registered companies like Mai Linh and 30 days in jail plus a six month license

merely a symbolic slap on the hand which is hardly any deterrent. Scam taxis should be treated as scams and fraud in business.

opinion, your article appeared to be more

about the criticism of the Vietnamese people this country .

themselves and the way in which they live in Mr. McKenzie s article is more to the point

suspension, and ne the company double

throughout the country to cater for those at their own pace.

the amount that each driver took from the customer (laptops, phones, etc.). This is in second time should be six months in jail and a permanent taxi driving ban. On addition to reimbursing the customer. The

chisiang.ang@... I got ripped o a couple of months ago

Chisiang

about the shortcomings of tourism and not He makes a lot of sense and his suggestion required to provide public toilets is a good

travelers who want to see the countryside Google the Central Otago Railtrail New

going from the ferry terminal to the airport (US$28.5) instead of around VND150,000. I knew I was being ripped o but I was meter was ticking over far too fast, and he said: I have meter, I have meter. got out near the REX hotel. If I wasn t in such a rush I would have Don t ever get into taxis at the ferry in a rush. I told the driver on the way the

so much about the Vietnamese themselves. that all new hotels and restaurants should be and practical idea, although Im not so sure walking o the streets to use their facilities Your article was well wri spot on.

in HCMC. The trip cost nearly VND600,000

Zealand to see what can be accomplished,

and the benets and opportunities it brings to all those living along side the route these trails take. Homestays, coee shops , hotels, refreshment shops selling drinks and meals pride to the small communities they pass all do well and these trails bring new life and through. Imagine a trail like this along the

paper alone, this should deter 99 percent of the drivers from trying to do it and that s what a law is for. It will certainly save

all restaurants should have to cater to people as they may just be a family establishment. description of some (not all) of the roads is I also read the interview with Nguyen

Vietnam from having a terrible reputation and bring in more money from tourism. Marc

en, G.R ., and your

coast of Vietnam or through the mountain how it could improve the living for the paid to the locals and not the tour companies.

areas for walking and biking, then think of people along the way with the money being

penalties.

The problems are: enforcement and In the recent crackdown in HCMC, the

terminal, go outside to the street and get Vinasun or Mai Linh. Fish

Cong Hoan, vice director of travel agent

scam taxis had completely disappeared

Hanoi Redtour, and also wish to reply as

from around the Ben Thanh Market area. that the campaign is over.

ngsher@... A taxi reporting hot line may be of use

I returned just last week from a 14 day tour of Vietnam with a tour company It will be . my rst and last tour, not because I didnt

However, they have resurfaced again, now If enforcement is not carried out

like the country but because of some of the tourist shops selling souvenirs. This is not

Vietnam to bike such trails and if they did

I know people who would come to

places we were taken to were just overpriced Vietnamese scenery and made me wonder just one reason. I wont go into the other reasons in this le Mr. Nguyen is a director of a tour er.

not complete the full distance, they would

consistently nobody will obey the law. , It is the same not only for taxis but for other trac oences.

whereby if you have been scammed, you can report the taxi driver to a central number where they can investigate further. car number would help. Photos of taxi driver, taxi number and I guess it would be a busy phone line.

come back again to nish what they started. Vietnam needs more homestays and small as they travel this country Not everyone . homely hotels for people to spend the night wants to stay in high class hotels and resorts

if the tour company gets a kickback. This is

enforcement. Without enforcement, laws

What Vietnam lacks is consistency in law

might as well not exist at all. And it makes

Stevefwt

and not everyone wants to take a tour. These freedom loving travelers want to sit in small local bars/restaurants and have a beer with the locals, shop at local markets and experience the real Vietnam. Cam on.

company and I think his statement taints travelers not just the ones who have a lot a lot.

the article. Tourism is about catering to all of money to take expensive tours and spend From what I see and read here, tourism in

Re: Disaffected youth?

Lots to be proud of
I am really ashamed to admit being er how o

Robert Fox from NZ

District 10, HCMC

(Thanh Nien Weekly, Issue 117, December 23 29, 2011)

Stop marrying
Re: Married to mistreatment
The problem could be a result of

Vietnamese, no ma time and what not.

told that we are heroes, the conscience of Hongt Nhan

en we are

these idiots

Vietnamese. You are only viewing a small

Please dont feel ashamed to be

part of society or government. Corruption, the world. I am a natural born US citizen knows that. You should feel proud to be that of a people who have endured and fought foreign tyranny for centuries. It Mike improve. I have not lost faith in the

crime and social problems exist throughout and corruption is rampant here, everyone Vietnamese because your history has been

(Thanh Nien Weekly, Issue 116, December 16 22, 2011) women should stop marrying these idiots. They should learn that a better life depends on themselves, not on their unknown riches.

parental perception. They should be more considerate about their daughters well being, and not look at them as properties to help them out in their old ages. I feel sad for those beautiful women of Vietnam. The Vietnamese government should have policies to tackle this problem and help these women.

marrying some foreigners hoping for

takes time for people and governments to Vietnamese people or the Vietnamese

greatbigone66@... It should be regulated that all the

government, because I am 58 years old and have seen many things in life. Change happens over time, not in a month or a

Randy

Taiwanese men who are married to

between the haves and have nots in

Shameful!!! This is a result of inequality

Vietnamese women have to report to the local authority every month on their not they have problems. family situation, regardless of whether or Cuong

year. Look at all the wonderful things that have happened in Vietnam within the last 15 years. I nd it truly a wonder.

Vietnam. The government has to do more to help these women. Also, Vietnamese

jack4u2@...

Jack

24

IN VOGUE

JANUARY 6 - 12, 2012

By TINA PHAM

cage or table, casting a entire living room. blend of Asian

ust like its name suggests, and Ho Chi Minh City

mysterious atmosphere over the The products at Mosaique use a inspired materials by European, s such silk with

Mosaique shops in both Hanoi

traditional handmade arts. The shop oers insights into

produce mosaics of Vietnamese

designs

Middle Eastern and Asian arts. There are also tasteful gi silver coee

Vietnamese traditional handmade products with its collection made from various materials including bualo horns, silk, silver, pearl, and beads. bamboo, embroidery mother of , The shops highlight is their

as bookmarks made of silver and beads, from cushion, or wall tapestries made embroidery . silk decoration with lotus lters,

VW

collection of lamps made from beads, silk and lacquer. Customers may choose a small lamp shaped like a peach, bird

e shop Mosaiqu

silk lamp with candle or a beaded

ict, Hanoi Kiem Distr o St., Hoan 22 Nha Th nter , Saigon Ce ound floor 3A, 4A Gr Minh City 1, Ho Chi St., District 65 Le Loi

PHOTOS: TO VAN NGA

JANUARY 6 - 12, 2012

TRAVEL

25

WEATHER FORECAST
Friday, January 6, 2012
O 0 0

Cloudy

HANOI

57 -68 F (14 -20 C)

O

Showers HCMC

DA NANG 66 -75 F (19 -24 C)

O O 0 0

Sunny

73 -91 F (23 -33 C)

O O 0 0

Saturday, January 7, 2012 Showers HANOI 58 -64 F (14 -18 C)

O O 0 0

Showers HCMC

DA NANG 66 -71 F (19 -22 C)

O O 0 0

Cloudy

71 -89 F (22 -32 C)

O O 0 0

Sunday, January 8, 2012 Showers HANOI 58 -65 F (14 -18 C)

O O 0 0

Showers HCMC

DA NANG 66 -70 F (19 -21 C)

O O 0 0

Thunderstorms

70 -86 F (21 -30 C)

O O 0 0

Pho Trach

(1) C

Village in the

weave mats

bng, a species of sedge, is used to

(2) The sedge is beaten flat

(3) Nguyen Thi Chieu in Pho Trach Village is famous for making beautiful mats
PHOTOS: TUYET KHOA

central Vietnam been known for making traditional mats from sedge

Airline
Vietnam Airlines

Frequency

has for centuries

HCMC/Hue/HCMC

GETTING THERE

HCMC/Da Nang/HCMC Hanoi/HCMC/Hanoi

Daily

HCMC/Hai Phong/HCMC

Daily Daily

Daily Daily

Hue Province), tourists can reach Pho Trach Village by car or train. 1A, go north to the three-way By car: take National Highway

From Hue T own (Thua Thien-

Hanoi/Da Nang/Hanoi

Airline
Vietnam Airlines

Frequency

intersection at My Chanh Market, turn right into National Highway 49, go for a kilometer, pass Phuoc O Lau River for about 10

Hanoi/Frankfurt/Hanoi Hanoi/London/Hanoi Hanoi/Sydney/Hanoi

Hanoi/Hong Kong/Hanoi Hanoi/Los Angeles/Hanoi HCMC/Hong Kong/HCMC HCMC/Sydney/HCMC

Daily

Daily

Tich Bridge and turn left, go along kilometers, pass Mu Tu Bridge, hour.

Daily Daily

Daily Daily

and turn right. It takes about an

By MINH PHUONG - TUYET KHOA

Daily

Thien Hue

ho Trach, a village in Thua Province, m, a kind of been a is

Hoi train at Hue and get off at My Chanh near the My Chanh Market three-way intersection. returns at 5-6 p.m. every day.

By train: take a Hue-Dong

United Airlines

Hanoi/Frankfurt/Hanoi

Hanoi/Los Angeles/Hanoi
Cebu Pacific Air

Daily

Daily

mat made from sedge. Weaving m

famous for its

The train leaves at 5-6 a.m. and

HCMC/Manila/HCMC

Daily

traditional vocation for over 400 village.

has

Cathay Pacific

years in this Phong Dien District Almost all the women here, and

can

every day and a two layer mat every two days. remain The Pho in a Trach sedge

produce

single layer

mat

Hanoi/Frankfurt/Hanoi Hanoi/London/Hanoi Hanoi/Sydney/Hanoi

Hanoi/Hong Kong/Hanoi Hanoi/Los Angeles/Hanoi HCMC/Hong Kong/HCMC HCMC/Sydney/HCMC

Daily

Daily

even girls of nine or ten, weave the mats and it is not unusual to see a half nished one in every house. weave mats together, The women usually gather to

product

Thien Hue. They are smooth to lie on, easy to wash, and dry quickly . They can be spread on the bed or oor and keep people warm in winter and cool in summer. and empty the eld for seedlings morning. Beating sedge is a hard job that is le The mats themselves have one erns and to the men. also made of c

rural

favorite

areas

household of

mats

Daily Daily

Daily Daily

Thua

Daily

dexterously even while cha

working

watching TV Many women work . new mat at the market the next

ing or

Hanoi: (04) 3 832 0320

Vietnam Airlines

CONTACT

Ho Chi Minh City: (08) 3 832 0320 Da Nang: (0511) 3 832 320
Jetstar Pacific

until late at night so they can sell a morning. Girls from other villages have to learn how to weave if they become a daughter in law of the village. The mats are made of c

Sacks, hats, and handbags are

to grow from the old stumps. The harvested sedge is dried, tied in lo . bundles, and stored on the kitchen The sedge is beaten at with a

Xuan Dao, 84, a villager who has years, said most people in

bng. Nguyen Thi

Hanoi: (04) 3 851 5350

or two layers. Single layer mats have no decorative pa 15 US cents). decorative are sold for VND20,000 30,000 (10

been weaving for more than 70 village use these products. make more of the

Ho Chi Minh City: (08) 3 848 5501 Da Nang: (0511) 3 583 583
United Airlines

her

species of sedge that grows in deep water at the edge of rice elds, meter in height.

bng, a

chunk of wood. Each of the four communal tool placed on the main the sounds of the grass

Today Pho Trach villagers also like carpets, eco friendly seat

Hanoi: (04) 3 934 7248

Ho Chi Minh City: (08) 3 823 4755

Cathay Pacific

lives for a year, and grows up to a By the middle of the rst lunar

hamlets in Pho Trach Village has a road for weavers to use. Every day beaten ring out early in the

When a layer is added, it has pa erns and

month, people harvest the sedge

being

VND80,000 100,000. But this kind orders. A highly competent worker

costs

products

cushions, and trays. handicra s

of mat is only made on customers

They have won many prizes at exhibitions and

Hanoi: (04) 3 824 0809

Cebu Pacific Air

Ho Chi Minh City: (08) 3 822 3203 Ho Chi Minh City: (08) 2 221 7620

competitions.

VW

26

SPORTS

JANUARY 6 - 12, 2012

rallying

swimming

Peterhansel in hits trouble

control as Al-Attiyah
CHILECITO, ARGENTINA -

London 2012 tickets mistakenly oversold: organizers

LONDON - Organizers of the London 2012 Olympics on Wednesday admitted they had synchronized swimming

France's Dakar Rally legend

Stephane Peterhansel took the overall lead in the car section here on Wednesday after winning the fourth stage, a 326km special from San Juan to Chilecito. The 46-year-old Mini driver, a

mistakenly oversold tickets for sessions, leading to thousands being offered tickets to other events. Some 10,000 tickets were

Newcastle
Newcastle sent Manchester United spinning to their second consecutive defeat on give

Advanta

six-time Dakar motorcycling

champion and three-time car

winner, endured a miserable day punctures but on Wednesday it champion Nasser Al-Attiyah to have a nightmare. The 31-year-old's Hummer

meant to go on offer in the

on Tuesday when he suffered two was the turn of Qatar's defending

second round of sales for four of the sessions in the aquatics centre but 20,000 were made organizers revealed.

available due to human error, Officials contacted around

broke down after 288km of the

3,000 ticket-holders and offered events - including the men's had previously applied for unsuccessfully. AFP

stage and only got going again

them access to more prestigious 1,500m athletics final - that they

Premier League Wednesday to Manchester

after a 15-minute stop, leaving AlAttiyah seventh overall and over half an hour off the pace. AFP

biathlon

City a vital race

Russia win women's relay

OBERHOF - Russia's women won the World Cup biathlon 4x6km relay here on Wednesday, beating Norway and France.
PHOTO: AFP

edge in the title

LONDON Jones

Ba, Yohan Cabaye and a late Phil deserved own 3 0 goal victory clinched for a

Goals from Demba

France's driver Stephane Peterhansel

performance of the German team as, despite being led by their double Olympic champion,

The big disappointment was the

steers his Mini to win the Stage 4 of the province and Chilecito, La Rioja

Newcastle at St. James Park, as

2012 Dakar between San Juan, San Juan province, Argentina, on January 4, 2012

United missed the chance to go level on points with City at the top of the table. beaten The defeat by means

Magdalena Neuner, they finished

outside the podium placings. AFP

Cannavaro to watch
By THUY KHANH

Trafford in their last outing at the weekend, now trail City by three points downed after Liverpool the league 3 0 leaders at

Blackburn

at

United, Old

Super League match in HCMC

former multiple V League Italian World Cup winning champions HAGL and Saigon FC, Cannavaro may sit for photos with the two teams, meet the coaching staff and players of the two teams, and comment on the match. There will be cheerleaders at

Eastlands on Tuesday.

had two fantastic goals which put weren t going to lose it,

The story of the game is they

them in the driving seat and they manager Sir Alex Ferguson said. United

football captain Fabio

Cannavaro will watch the Super League second round match between HAGL and Saigon FC at Ho Chi Minh Citys Thong Nhat Stadium Saturday. The former defender, who led

and it s advantage to Man City. We don t normally have back to we had some players

We have had our opportunity

the match, and famous singer

back defeats but the plus point is tonight. back

Italy to victory over France in the 2006 World Cup final but

Doan Trang and MC Tran Thanh performing before and during the match.

was accused of drug charges in packed schedule during his City beginning Friday.

2009 before being cleared, has a three day visit to Ho Chi Minh He will arrive at Tan Son Nhat

dancers will add to the

A group of kylin and dragon

have the experience to cope with it. We need to get the show on the end to end first half saw

It s not a time for panic, we

Webb

brought

after

excitement as the country Lunar New Year.

prepares to celebrate Tet, the Youth Union members and

road in terms of the run in. An

players tussled for possession. minutes when

down

Rio Ba

as

Ferdinand the

two

ahead of the dropped David De Gea. Ba s strength and mobility

The deadlock was broken on 33 to play Newcastle s route one by

continued to cause problems for United and it was a foul on the striker second by half Jones that early led in the to

both sides threaten early on, with Manchester Dimitar Berbatov United grazing striker the

readiness A

Airport at 8:30 a.m. instead of

9:30 a.m. as previously planned, attend a press conference in the afternoon, meet young trainees Saturday morning and meet football fans Sunday morning. During the match between

students will get free entry to greatest ever defenders.

football paid dividends. long kick

Stand C to see one of footballs Vietnams topflight football

post with a header on 15 minutes to set alarm bells ringing in the Newcastle defense. At the other end, Newcastle

Newcastle keeper Tim Krul was met by Shola Ameobi, who

upfield

Newcastle s second. From the

league, which used to be called the Super League this year.

flicked on for Ba, who in turn hooked a superb volley into the side Lindegaard, netting favored beyond in Anders goal

Cabaye stepped up and struck a

ensuing

free kick

powerful curling effort into the dive of Lindegaard. Newcastle s

the V League, has been renamed

VW

had strong appeals for a penalty turned down by referee Howard

top corner beyond the despairing second stung

JANUARY 6 - 12, 2012

SPORTS

27

age City as

Op -Ed

stun United
a time to panic, patience and we have the

Telecast dispute
By LAN PHUONG, THUY KHANH

VFF on the wrong foot

as its member. In the dra Federation has only itself to blame for the current controversy raging over TV games. The Vietnam Football regulations on professional General Department of football that VFF sent to the Physical Training and Sports for approval, VFF added an member. article saying that VPF is its VPF chairman Vo Quoc

It's not

telecast rights for Super League VFF early last year signed a

20 year contract with the

telecommunications and media company called the An Vien Group for VND6 billion (US$285,000) per year. The the Vietnam Professional

Thang has said that authorized government agencies will and AVG are right. decide whether VPF or VFF Thang said Wednesday that

contract has been rejected by Football (VPF) JSC, which was established last month to take over the job of organizing the nations professional football competitions.

he would send a document to

the Ministry of Information and Communications, the Ministry of Justice and the Ministry of Thursday.

to get the show on the road in terms of the run in.

cope. We need

experience to

Culture, Sports and Tourism on VPF has said it wants the

the contract with AVG, but the company has refused on the not asked the clubs for their opinion before signing it. grounds that the federation had

VFF ordered VPF to execute

contract between VFF and AVG to be made clear in order to ensure that interests and

benets of the TV viewers, the are ensured.

TV stations, the clubs and VFF It should be remembered that

Hy signed a communication

VFF chairman Nguyen Trong

sent to the VPF on Wednesday

VFF is the biggest stakeholder in VPF with 35.4 percent of its

that says, VFFs authorization is qualied as VFFs

for VPF is valid only when VPF representative. That is, VPF must meet the following requirements: 1) VPF becomes a member agency of VFF; 2) VPF completes signing the document to receive authorization from VFF to organize professional competitions.

shares. That is, when prots are made, VFF gets a bigger share than any other club.

MANCHESTER UNITED BOSS ALEX

physical do. We an had game, beat Tim to

protect its benets? Is it

So, why doesnt VFF want to

because of any other benet that certain ocials of VFF ignore the benet for the federation as a whole? stand to gain that makes them

Pardew

presence of Ba and Ameobi had caused problems for United. I think we won today because what we wanted today to

said

the

VFF has slapped itself in the

The document indicates that

Physical Training and Sports of the Ministry of Culture, Sports and Tourism has asked VFF to clarify its contract with AVG.

The General Department of

we controlled the game in terms of didn t let them play. Physically and aerially we

face by saying its authorization for VPF is not valid yet. In fact, it was VPF, not VFF, that

The Ministry of Culture, Sports federation to make clear the provisions of the contract.

organized the rst round of the last weekend.

and Tourism has also asked the

advantage and we capitalized on that, In Pardew said. the night s other

countrys top tier Super League So, how can VFF still claim

Bolton moved off the bottom after coming Everton 2 1 at Goodison Park. Everton goalkeeper from behind

its primary right over the competitions as well as

complains that VPF does not respect it. But when all the

In its latest document, VFF

organization of the professional ownership of other rights

VFF related events in the past

are put together, it appears that the federation does not respect itself, nor does it respect the public.

Howard opened the scoring with a freak effort before Bolton hit and Gary Cahill. came Howard s when back with goals from David Ngog
PHOTO: AFP

related to the competitions

including TV telecast rights. General Meeting of VPF on asked VFF several times to complete the transfer agreement but VPF vice

Furthermore, since the rst

Manchester United's manager Alex Ferguson (R) substitutes Wayne Rooney against Newcastle upon Tyne, England, on January 4, 2012

63rd

Newcastle United during an English FA Premier League football match at St. James' Park,

goalkeeper s

bounced over the head of Bolton keeper Adam Bogdan and flew into the net.

long

the

minute

clearance

Everton

effort

December 14 last year, VPF has

Ministry of Culture, Sports and Tourism and the General Department of Physical

According to a source, the

Training and Sports are likely to ask VFF to terminate its la contract with AVG, with the

chairman Nguyen Duc Kien said, VFF has been slow in procedures, deliberately completing the administrative delaying the transfer to us. VPF.

United

magnificent Wayne

into

action,

from Danny Simpson prevented Rooney from pulling

goal line

and

clearance

only

miserable evening and eventually suffered the indignity of being A bad night for United by substituted with 15 minutes to go.

goal back for the visitors on 59 minutes. Rooney, who had missed the by defeat Ferguson after being for

worse in the dying minutes when a caused confusion in the visiting defense header past Lindegaard for 3 0. Newcastle manager and Jones steered long punt forward Krul

got

immediately, with David Ngog a left footed shot into the

But Bolton responded almost

negotiate a new deal with the VPF.

er given the opportunity to

beating John Heitinga and curling corner. far

Therefore, VFF is to blame, not At its annual General

this controversy behind as soon as possible and ensure long term benets for the football.

The need of the hour is to put

Blackburn dropped

Chelsea later this month

Cahill

expected

to

disciplinary reasons, endured a

Alan

drove in the winner for a vital three points for Bolton. AFP

then

join

Meeting last month, VFF

ocials agreed to accept VPF

development of Vietnamese

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28

AROUND TOWN

JANUARY 6 - 12, 2012

During New Year, people often like to feast on simple traditional dishes along with their families
By NGUYET ANH

Say cheese during Tet

W
It signals the arrival of holidays like Year, or Tet. expects is the to cold at the end of the year, it hen the weather turns a li le and ancestors death anniversaries, and is sometimes given as a gi ill people. Gi th parties and major events like Tet to
Gi th
is served both

Gi th

is served both at small

the New Year and the Lunar New time when on everyone

vegetables and some wine. for a long time.

goes well with pickled

delicacies like gi th Gi th

feast

paste) at family parties.

(pig s head

traditional

Head cheese can be preserved It is widely available at markets

at small parties and major

PHOTO: TUAN ANH

events like Tet

dish in Vietnam, is known as head cheese though it is not made from cheese but from gelatinous pork meat. Made from various parts of the

, a simple and popular

and supermarkets, and also easy to make at home. First, one needs to thoroughly with water, salt, and

about 45 minutes or until they are done. Test by poking a chopstick into the meat.

clean the pigs ears, snout, and cheeks

and shallot. pan and

some

oil,

garlic,

to the mold using a spoon, keep pressing it rmly to compact it. A er nishing, close the bag and

vinegar and rinse them with water. removed.

animal such as ears, snout, and even cheeks, the stunning dish is both chewy and crunchy . It originated in the north but it

Be sure that the fur on the meat is Soak wood ear mushroom for ,

out and rinse with cold water to prevent the skin from changing and cheeks. whole

When the meat is done, taken it

Pour the meat mixture into the stir fry over low heat,

usually for about 10 minutes, until the mixture turns viscous. Add the mixture into a cylinder

place something heavy on top to leave the mixture in the fridge

compact the contents further, and overnight. congeal

color. Thinly cut the ears, snout, Mix them with ground pepper, peppercorns, sugar, salt,

around 20 minutes or until so and drain them. with onion,

mould when it is still hot. One can use empty cans for the purpose. tightly pack the cans with the Line the can with plastic bags and mixture. While adding the mixture

When it cools, the mixture will together thanks to the

was so delicious that the south soon embraced it.

Then boil the meat in a large pot sugar, and salt for

sh sauce, and shredded wood ear mushroom. Heat a pan and add

natural gelatin. Remove it from the leaves and tie with strings.

mold and wrap it up in banana

VW

With your craftsmanship in hand, return to Saigon for a master class in clay-pot cooking, crafting cm t m (broken rice), coconut water .

and pairing these dainty delicacies.

Website: www.sofitel-legend.com From January 12 to 23 savor some glorious Spices garden Tet delicacies

caramelized pork belly, and river prawns in Day 2 Bnh m and brews

19 Lam Son Square, Dist. 1 Tel: (08) 3 823 4999

Caravelle Hotel

dishes conjured up by Metropoles veteran chef of 33 years, Nguyen Kim Hai. T celebrate the o dishes, the hotel will also present creative roasted venison fillet. Tet gifts Lunar New Y ear besides traditional Vietnamese , delicacies such as blue prawns in festive robe or

2 Lam Son Square, Dist. 1 Tel: (08) 3 824 1234

Park Hya

Saigon

Park Hyatt baker learning to make the ,

The day begins in the kitchen with the

Website: www.caravellehotel.com Choux & clairs promotion Chefs at Caravelle Hotel are whipping up

perfect baguette, the foundation for the

Masters, a series of epicurean events throughout the year showcasing the diversity of regional , January 13-15, 2012 textures and flavors founded throughout Vietnam. Flavors of CochinChina

Park Hyatt Saigon announces Park Hyatt

The filling is what gives this Vietnamese

deliciously simple, yet satisfying, bnh m.

much-loved light French pastries with classic Lobby Lounge on the ground floor .

cream fillings and rich toppings to serve in the From January 14 to 21 guests can choose

sandwich its multiple personalities, so you will experiment with four traditional ones: egg, pork, chicken, and beef. The

for this holiday season. Its shelves are stocked with an assortment of Tet hampers and treats designed to bring added delight to the Lunar

L Epicerie offers an array of products and gifts

from seven varieties of choux and clairs

culmination of this culinary experience pairs your savory creations with a tasting of Day 3 Green afternoon tea several Vietnamese micro-brewed beers. T aste a master selection of Vietnams

including chocolate cream with poached pear slices and icing sugar and toffee cream with , sliced fresh bananas and broken walnuts at VND160,000++ per portion.

the French colonial region of Southern Vietnam, where the European influence is evident in a Day 1 The art of claypot unique use of ingredients and cooking methods. Set off to Binh Duong to learn the ancient art of

Saigon was once the capital of CochinChina,

ch , bnh chng ) and imported luxury products.

New Y ear including Vietnamese specialties (gi, ,

high-grade green teas, including the native lotus tea, along with a decadent array of sweet green confections. Master Pastry

Lavazza coffee or Ronnefeldt tea for

Pair your favorite pastry with a fresh cup of

VND240,000++, or indulge with a flute of fine T aittinger champagne for VND310,000++.

making clay pots, unique unglazed vessels in

which a variety of dishes are cooked by steam.

Chef Eng, reveals the secrets to preparing

KP5, Mui Ne, Phan Thiet Tel: (062) 3 849 849

Pandanus Resort

Pendolasco Italian
87 Nguyen Hue Blvd., Dist. 1 Tel: (08) 3 821 8181 Fax: (08) 3 914 4994

Garden Restaurant

Email: rsvn@pandanusresort.com

Website: www.pandanusresort.com

gourmet getaway weekend promotion for only US$179.00++ per twin share (two people). The package includes two nights

The Pandanus Resort is offering a

Website: www.pendolascorestaurantvietnam.com The oldest Italian restaurant in HCMC has an

accommodation in a superior room (check-in either Friday or Saturday), daily breakfast buffet, and a Saturday evening poolside

Italian cook, a classic garden and traditional barbecue.

barbecue buffet with an extensive selection of of salads, pastas, desserts and fresh

Vietnamese and international entres, a variety barbecued seafood.

Hotel Sotel Legend

15 Ngo Quyen St., Hoan Kiem Dist. Tel: (04) 3 826 6919

Metropole Hanoi

badminton courts, bicycles, game room, fitness center, wifi, and the largest swimming pool in the province. The promotion is valid until March 31, 2012.

Guests can also use the tennis and

JANUARY 6 - 12, 2012

AROUND TOWN

29

By TO VAN NGA

T
to

breakfast last week, I took the

try

something

new

for

Japanese

experience

my friend Aikos suggestion breakfast oered

authentic

Sunrise and Sunset

Champa style

resort oers New

DA NANG - An award-winning

Azumaya Restaurant in Ho Chi Minh City. At the early hour of 6 a.m., we

by

Year packages

Champa style resort in central Y ear and Tet promotions.

Vietnam is offering different New The Tet package at Furama

saw a dierent Saigon: dreamy and unburdened by heavy trac. Sunlight showered the houses and boutiques around us. We enjoyed the unclu being simple ered joy sidewalks by of walking on

Resort Da Nang, available from

January 20 to 31, costs US$380 a person or $440 for two includes two nights, daily international

motorbikes. on Thai

bothered

roaming

without

buffet breakfast, one international buffet dinner round trip airport , transfers by bus, wifi Internet and a daily shuttle bus to the ancient town of Hoi An, a

Azumaya Restaurant is located Van it Lung Street, in

Japanese hotel by the same name. Upstairs, Japanese breakfast; serves lunch

access in room and public areas,

authentic

dinner are available at the bar on the ground oor.

and

UNESCO world heritage site.

of the fitness center swimming , pools, games rooms, kid club, tai chi classes in the morning. further receive unlimited tea, and a VIP amenity set up. Those booking suites will

Customers will receive free use

reasonable. We chose the rst set menu (VND100,000),

The cost of breakfast is quite which

sauna and steam bath, as well as

included nine small dishes, as well quick miso breakfast and

as tea. Other options included the soup rice; and

(VND60,000):

coffee, soft drinks or fruit juice Furama Da Nang was chosen

continental

(VND60,000): western style bacon and eggs with bread. By chance it was a

breakfast

the

Vietnams Leading Spa Resort World Travel Awards.

2011 in September 2011 by the ,

Japanese holiday, the Emperor s birthday, making the opportunity to breakfast all the more poignant. important Traditional ritual breakfast in is enjoy an authentic Japanese an
PHOTO: TINA PHAM

special

VW

Central Vietnam

Aiko, a Japanese customer, enjoys her favorite Japanese authentic breakfast at Azumaya Restaurant

resort among the Asia Pacic

culture, which emphasizes quality of life, relaxation, the females role in the family and housework. In the old days, women would wake up hours before their husbands, roll up their sleeves and prepare several Very familys breakfast. quickly healthy dishes for their

Japanese

Typical for Japanese food, there was almost no oil or fat used in the preparation, was pure as well very few felt

this, we dont nish one dish and then try another. We taste a bit of one food and then try others in a Aiko explained. another By chance,

lack

Luckily, my friends suered no of appetite cooked and

best new hotels in

DA NANG - A five-star property in

herbs. The taste of these dishes incredibly healthy. we cook sea and fresh and

round. We call it sankaku tabe, together with

torinabe soup (chicken, leeks and cabbage broth), and nikujaga (potato, with

ordered chicken carrot with

Da Nang has been named by Singapore travel magazine

Traditionally, in the morning sh (other

delivered a bamboo tray with nine dishes of assorted colors including Japanese steamed vegetables, style steamed

our

waiter

salmon) for breakfast. Rice, soup

than

Azumaya Restaurant for a light dinner a few days later, a evening stroll in the city center. dinner We is served had as a er an

friend,

we

returned

to

shredded

pork

sauce, oil and sesame on top, plus egg, seaweed and chicken).

chicken,

soup),

vinegar,

salad

soy

DestinAsian as one of the best new resorts in the Asia-Pacific region. Fusion Maia, located on Da

and vegetables are also important breakfast. But nowadays we are too busy to prepare

Japanese ramen (noodle soup with I couldnt resist the fragrances of

elements of an authentic Japanese authentic

The bar on the ground oor where dierent atmosphere. quickly felt very

Nang beach close to Marble

cooked in a special sauce, clam soup, fried sh, egg rolls, minced radishes and two types of pickles. They were arranged in

radishes

rice,

torinabe soup, nikujaga soup and ramen everything was fantastic. The service at Azumaya was

Mountain and the Museum of annual Luxe List of best new region in 2011.

Cham Sculpture, entered the 8th hotels and resorts opening in the The resort, as well as the

breakfast with so many dishes like that, Aiko said as we ate. The dining room in oered a

wandered into the heart of Tokyo, out a er a long day of work.

if

wed

bowls and dishes which looked like a lovely painting with warm delicious yellows coloring the

tiny

pleasant view of Thai Van Lung Street, calm, morning. tranquil The atmosphere to the early was

as Japanese businessmen chilled Dinner cost about VND200,000.

also very good. The manager even add pork to my nikujaga.

Azumaya Restaurant 8A/8D1- 9A/9D1 Thai Van Lung Street

came by just to remind a friend to

VW

others in the list, was visited by one of the magazines contributors and subsequently chose the final list based on location, and ambience.

fried sh, carrots, eggs and soup.

savor the myriad of small dishes.

ideally

suited

slowly

I had a big lunch, so I only ordered

miso soup, which was not on the willing to prepare it anyway.

In an authentic breakfast like

menu, but the helpful cook was

vetted by its editorial staff, who criteria such as design, service, Fusion Maia, designed as an

District 1, Ho Chi Minh City

City hotel adds premium lounge

HCMC Chi Minh City last month added a lobby lounge with premium services. Hotel Equatorial in Ho benefits from the clever use of Flo can seat 60 people, in soft lighting and ambient music. addition to a live music stage,

Lion dance, buets at hotel for Tet

HCMC be well decorated for the T (Lunar et New Year) on January 23, adorned with red lanterns, miniature peach blossoms. Legend Hotel Saigon will all over Vietnam. as the glutinous rice cakes bnh made from pig head, pickled s Visitors can enjoy delicacies such

all-inclusive spa resort, was also listed by Conde Nast Traveler among the worlds best new on Time magazine.

hotels and made an impression The announcement to be

Binh Trong Street combines

Flo Lobby Lounge at 242 Tran

curvy bar area equipped with a wines from around the world.

contemporary interior design live musical performance.

glass cabinet full of outstanding The bar also offers a traditional

kumquat bushes, ochna bonsai, and On January 23 there will be a lion

chng, bnh tt, braised pork, paste welsh onion and scallion heads, salads.

featured on DestinAsian Luxe List is another confirmation that guests are enjoying our

and premier drink services, with It uses the lotus as a design

afternoon tea from 2:30 p.m. to 5 p.m. with a selection of famous Ronnefeldt teas from Germany as well as canaps. For the first two months Flo

dance in the lobby from 8 a.m. to

besides dierent kinds of soups and All dishes will be complemented drinks, coee and tea

9:30 a.m., followed by ceremonial and ancestors. The fake lions will also go through the entire hotel, the hotel to deliver New Year blessings.

surprising concept of all-inclusive spa, said the resort general manager Michelle Ford.

concept, and it is featured on the walls and carpets in various colors and textures.

oerings to Heaven, Earth, deities,

with a free ow beverages, including so

sofas blend together with tall

Warm tones and soft fabric

will present nightly

visiting each restaurant and bar of

for lunch, and assorted wine, beer and cocktails for dinner. The buet is priced at

no entries from Australia or New Zealand. Other hotels and resorts in

This years Luxe List includes

French windows, glass ceiling, for a tranquil feeling.

performances by the European band Esther Flatters and The Jazz Hats which will play light

and crystal ball shades to make The overall lounges ambience

jazz six days a week from 9 p.m.

Atrium Caf will feature a

From January 22 to 25, the hotel s

VND500,000 (US$24) for lunch, and VND840,000 for dinner. eat for half price.

VND720,000 for Sunday brunch Children between four and 12

Vietnam listed include Hotel del Opera in Hanoi, An Lam Ninh Six Senses Con Dao. Van Bay Villas in Nha Trang, and

spectacular T et buet, serving

VW

traditional holiday specialties from

VW

VW

30

VIEWPOINTS

JANUARY 6 - 12, 2012

over Wall Street asylum?

By WILLIAM D. COHAN

Did psychopaths take

many

corporate psychopaths at the helm of our nancial institutions are to blame. at the No ingham Business Clive R. Boddy most recently a professor , ingham Trent University, School says at

academic to propagate a theory of the people suspected all along:

t took a relatively obscure former British

nancial crisis that would conrm what The

No

psychopaths are the 1 percent of people with abnormal brain connectivity and

who, perhaps due to physical factors to do chemistry lack a conscience, have few emotions and display an inability to have any feelings, sympathy or empathy for other people.

of the Journal of Business Ethics, such people are calculating and ruthless towards others than extraordinarily cold, much more

As a result, Boddy argues in a recent issue

most people are and therefore a menace to the companies they work for and to society . personality says How do aws people make take with it such to the top of of obvious

seemingly successful corporations? Boddy relative psychopaths chaotic nature advantage rapid of the modern change, the

corporation,

constant renewal and high turnover of key

including

personnel. Such circumstances allow them and charisma, which makes their

to ascend through a combination of charm behavior invisible and makes them appear normal and even to be ideal leaders. Stable environment

Occupy Seattle protesters, an off-shoot of the anti-corporate Occupy Wall Street movement, demonstrate at the Port of Seattle in Seattle, Washington, U.S., on December 12, 2011

PHOTO: BLOOMBERG

writes, companies were mostly stable and reasonable expectation and people rose

Until the last third of the 20th century he ,

economic disaster that they have managed to bring about, with huge payoffs and with new roles advising governments how to prevent such economic disasters
present by the

slow to change. Lifetime employment was a through the ranks. psychopaths identiable because

They are happy to walk away from the

NOTIFICATION OF CONTRACT AWARD

Employer: Song Bung 4 Hydropower Management Board. 2012

Date: Jan

Loan No and Title: 2429 VIE - Song Bung 4 Hydropower Project Single Stage One Envelope

Invitation No: ASB4/ADB/ICB/TB-04. Mode of Procurement: ADB Contract Package-TB04: Supply, transportation, storage and

This stable environment meant corporate as would their undesirable selsh be noticeable managers and

Hydropower Project. I - Bid Information

of electro-mechanical and technical service for Song Bung 4

preservation, installation, pre-commissioning and commissioning

personalities and other ethical defects.

of

egotistical

highly dynamic corporate environment if there ever was one, especially when the rms transformed themselves from private partnerships into public companies with quarterly reporting requirements the

For Wall Street a rapidly changing and

unaected by the corporate collapses they cause. chaos themselves These as glibly psychopaths unbothered

said his article has been warmly received

and has been downloaded 9,440 times in the past 90 days. Apparently this is a lot for an academic article and it is more than the next he wrote. prevent

those who have lost their jobs, savings and investments, about what they have done. They cheerfully lie about their involvement in events, are very convincing in blaming others for what has happened and have no doubts about their own worth and value. They are happy to walk away from the economic disaster that they have managed to bring about, with and as lacking any regrets

around

them,

unconcerned

about

four most downloaded papers combined, He also has a prescription for how to psychopaths of power on from Wall ge Street ing into and

of a

Reference Name of Bidders China National A Electric Engineering Co., Ltd. B CMEC and TFZXSD Consortium China National C T echnical Import & Hydrochina D Export Corporation

Price at Bid Opening

Price after Discount

US$30,688,978

US$30,688,978

US$26,493,710

US$25,850,000 US$23,680,000 VND59,972,000,000

US$24,591,865 VND62,415,051,619

Huadong ALSTOM Connsortium

US$28,551,060

US$25,981,060

trouble started when these charmers made nancial institutions.

Sinohydro Corporation Ltd. Dongfang Electric Corporation.

US$32,391,515 VND 19,468,083,520 US$31,570,513

VND19,468,083,520 US$31,570,513

US$32,391,515

their way to corner oces of important Then, according to Boddys Corporate

positions

VND7,632,555,556

VND7,632,555,556

Psychopaths Theory of the Global Financial Crisis, these men were able to inuence to wield considerable power. the moral climate of the whole organization They largely caused the crisis because

elsewhere. signicant

II - Rejected Bids Reference Evaluation Reasons Failed to provide adequate evidence of General Experience and Experience in Key Activities Conflict of interest with Bid-B

Anyone who makes decisions that aect numbers issues of corporate other people, social

huge payos and with new roles advising disasters.

concerning

Rejected

their single minded pursuit of their own

governments how to prevent such economic

responsibility or toxic waste, for example, or employment, should be screened to make sure that they are, at the very least, not who care about others, he wrote.

Rejected

Failed to provide signed original Letter of Bid Conflict of interest with Bid-A

concerning mass nancial markets or mass

C E

Rejected Rejected

Failed to provide adequate evidence of Experience in Key Activities

self enrichment and self aggrandizement to the exclusion of all other considerations has concept of noblesse oblige, equality fairness, , responsibility . led to an abandonment of the old fashioned or of any real notion of corporate social Boddy doesnt name names, but the type

Failed to provide original Bid Security

Reasoning aptitudes

that the theory is relatively untested and would benet from further development and

In closing his short essay Boddy recognizes ,

psychopaths and at most are actually people Makes sense to me. BLOOMBERG (William D. Cohan, former investment

III Bid Ranking Reference D F Final Ranking 1 2 Evaluated Price (US$ Equivalent) US$30,537,378 US$33,386,065

research into the personalities and moral reasoning aptitudes of the leaders of the companies that got into serious trouble in the nancial crisis.

of personality he describes is recognizable to all from the nancial crisis. He says the unnamed they seem to be

banker and the author of Money and Power:

IV - Contract Award

How Goldman Sachs Came to Rule the World, is a Bloomberg View columnist. The opinions expressed are his own.)

Consortium, People Republic of China. and Contingency for installation.

The succesful Bidder: Hydrochina Huadong ALSTOM Accepted Contract Amount: USD 29,195,419 including VAT CIT , Duration of Contract: 33 months.

In an e mail correspondence with me, he

JANUARY 6 - 12, 2012

WORLD

31

Philippine kidnappers demand US$2 million for Australian

SYDNEY - An Australian kidnapped the Philippines said his by suspected Muslim extremists in were demanding US$2 million in a video released Thursday. A distressed-looking captors "There's been a authorities in the Philippines but ruled out paying a ransom. bipartisan policy, of not policy, a

ransom as he pleaded for his life in Warren

ransoms for many, many years," O'Connor told reporters. really "Our ensuring we focus at the that

paying

Human Services Minister Brendan moment have we is

Rodwell, who was seized from his home in the southern town of Ipil on December 5, urged authorities freedom. "To to do all they can to secure his my family, please do

everything

Rodwell released. That should be our focus, that is our focus and the embassy's happens." Noel possibly can to ensure that that On Wednesday Major General Coballes, the local doing everything it

can

to

Mr

do

whatever to raise the two million US dollars they are asking for my 53-year-old former soldier said in Morning Herald. in the release as soon as possible," the the video obtained by the Sydney "T the Australian embassy here o Philippines, this is your

commander in Ipil, said Rodwell,

army

originally from Sydney, tried to fight back and was hurt when he was shared with Gutang. snatched from his home, which he The newspaper said it had four

constituent appealing for his life, his safety. Please help facilitate. "I was former army of my country

but it's different here, particularly ensure my safety is to go

photos of Rodwell that show him with a wound on his right hand while his left hand is in handcuffs. December It said they 12, but it were his taken on

the terrain. The only solution to whatever they need.

An Air China Ltd. airplane is loaded at Beijing Capital International Airport in Beijing, China. Chinese airlines will not pay a European Union carbon emissions tax that came into force on January 1, a Chinese aviation industry group said on January 5.
PHOTO: BLOOMBERG

with

wish is to please help me out of here he added in the broadcast

"If I'm given my last wish, my last

since then is unknown. Coballes said

condition possible

alive, please Madam ambassador," lasted less than two minutes. sent by the

Chinese carriers say

SHANGHAI emissions a Chinese airlines by the details. could

that

Rodwell was being held by the Abu Sayyaf, an Islamic extremist group founded in the 1990s with seed money from Al-Qaeda. the worst terror

was

The Herald said the video was Filipina kidnappers wife Miraflor to

won't pay EU carbon tax

will not pay a charge on carbon imposed Airlines that refuse to comply be of fined being denied with the the originating or landing in Europe, and that the cost could be almost four times higher by 2020. China s major airlines Air China China, Southern, China The tax would affect all of European Union from January 1, group said Thursday. The national aviation industry possibility

Rodwell's

The group has been blamed for attacks

Gutang shortly before Christmas. it was working closely

The Australian government said with

Philippine history and has been Christians for ransom. AFP

in

known to kidnap foreigners and

right to land in the 27 nation EU in extreme cases, according to the Europeans. State media has

which has angered the US and Chinese governments and airlines Sunday after the

cap and trade

scheme,

Eastern the

including CATA an and

worldwide, came into force on

warned the EU scheme

previously

Union s highest court rejected a last month. cooperate Union trading of the China,

European

on national sovereignty, violates will lead to a trade war sector.

infringes

previously told AFP. China reportedly

international aviation treaties and in the

order by Hong Kong Airlines for aircraft earlier for this year in

blocked

billions of euros worth of Airbus retaliation the EU move,

challenge brought by US carriers of course, ETS the will not

on

with the

Haibo, deputy secretary general China Air

scheme),

said

(emissions Chai

European

2005 in a bid to reduce carbon industrial plants. responsible in the for

The EU launched the ETS in

underscoring the potential for a significant trade row. The Airlines for America

emissions of power stations and It decided to include airlines, three of

association grudgingly indicated the EU law, but under protest

Association, which represents the country s airlines. Chinese against practice ETS, The CATA, the on behalf of

Transport

of global emissions, in the system agreement emissions. absence to cap a

percent global

that its members would abide by while pursuing legal options.

aviation

will not pass any additional costs to passengers for now, since they are scheme. not participating in the

Chai said that Chinese airlines

airlines,

international Chai

of

unilaterally said airlines from

EU s

is

improper into forcing its

strongly

will have to pay for 15 percent of the polluting rights accorded to them in 2012, the figure then

Under the EU scheme, airlines

where the group is based. government European He said was the

Beijing,

rising to 18 percent between 2013 and 2020. China has said it fears its

them (EU countries), how could we charge customers such fees? he said. the

We re

not

cooperating

with

counter measures Union,

considering against gave

Chinese the no

aviation sector will have to pay an additional 800 million yuan

China Southern Airlines, one of nation s biggest airlines,

Map showing Mindanao in southern Philippines where a search is on for Australian Warren Rodwell kidnapped by an armed group at the beginning of December, 2011

but

($125 million) a year on flights

declined to comment Thursday. AFP

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JANUARY 6 - 12, 2012

WORLD

32

Iranian military personnel place a national flag on a

submarine during the "Velayat-90" navy exercises in the Strait of Hormuz in southern Iran on January 3, 2012,
PHOTO: AFP

the End day of ten-day war games

TEHRAN and tightened around Brussels the

Iran,

the

United

The European Union sanctions a States noose in have

the Strait of Hormuz, the narrow

channel at the entrance to the Gulf through which 20 percent of the world s oil ows, if it is a sanctions block its oil exports. acked or er

sanctions what

agreement had been reached on an EU embargo of Iranian oil. Washington the hailed of the

saying

with

diplomats

activities being used to develop atomic weapons. saying On Iran its denies that allegation,

they

to

believe

punish

are

Tehran

nuclear

for

to

there is an agreement in principle forge ahead with an EU

In Brussels, a diplomat told AFP

Washington hoped the sanctions would be backed by more nations. These (EU measures) are the

preliminary

embargo on Iranian oil. But

10 days of war games in which Iran pointedly test red three

The bellicose words came a

entirely peaceful. grappled with

nuclear

program

is

agree on its timing for a foreign he added.

there is still a lot of work

to

kinds of steps that we would like

to see not just from our close allies and partners in places like Europe but world, We from she said. countries believe around the is

Wednesday agreement, saying it was consultations announced result that lots

with its EU allies. It US Treasury

of

types of missiles designed to sink enemy warships. The United States has dismissed would continue its regular

Wednesday

domestic currency market, with the rial a er it fell to an all time low on following the the new

turmoil

the

country on

ministers meeting on January 30, French Foreign Minister Alain

its

Secretary Timothy Geithner was to coordination over new US

the threat against its navy, saying it warship deployments to the Gulf. second biggest oil exporter a

authorities trying to shore up the Monday US

Juppe said: we can

(the ministers meeting) I hope that Iranian oil exports. adopt this embargo on

It s at this occasion

consistent said.

do

noose on Iran economically, Iran s a

with

tightening

that

this

We think that the place to get ention is with regard to its

she

the

go to China next week to discuss sanctions bank. Iran against Iran s central

The pressure on Iran OPEC s er

sanctions targeting the central bank. Although

The West s double squeeze on adds over to existing is Tehran s

Saudi Arabia and the potential

insisted the currency volatility had ordinary Iranians were becoming increasingly nation s economic future. nervous over their

government

signicant amounts of Iranian oil mainly Spain, Greece and Italy needed alternative solutions. I think we to be provided with

He said some EU nations buying

oil sector.

imposed

sanctions nuclear

for military conict between it and the United States pushed oil prices sharply higher. Texas

nothing to do with the sanctions,

coincided

The building pressure on Tehran with preparations

elections in several key countries coming from the capitals.

for

program

destabilizing the Islamic republic oil dependent economy .

that

increasingly

New York s main contract, West Intermediate in February, (WTI) jumped for

made against it was apparent in the US navy . Military

Iran s fury at the moves being

delivery

savings by buying dollars only to low rate hastily imposed by the central bank. The West is a of its

Many were seeking to protect

and

These alternative solutions exist can a ain

this year, sharpening the rhetoric France and the United States are

objective by the end of January , said. US State

the

he

to have presidential polls, in April and November, respectively . to be held in March. AFP In Iran, legislative elections are

during trade to $103.74, a level last touched on May 11. The contract from Tuesday s closing level. In London Brent fell back to $103.22, down 26 cents North Sea

nd traders refusing to sell at a

spokeswoman Victoria Nuland said

Department

threats this week it made against and political leaders

harder blows to Iran by blocking much with stopping other oil nations exports bank, dealing which

empting to deal and

railed against the permanent US presence in the Gulf and warned the would be unleashed if a US aircra full force of Iran s

crude for February rose to $113.97 per barrel, its highest level since November The $113.70, up $1.57 from Tuesday . United States and 14. It later stood at

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navy

processes most oil sales. Oil revenues

Iran s

central

carrier tried to enter the waterway . Iran has also threatened to close

Western nations have imposed the

other

percent of Iran s foreign currency earnings.

account

for

80

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Iran says has way to work around EU oil ban threat

LONDON - Iran has ready alternatives to a threatened shortly before the announcement on Wednesday. "We could very easily replace same quantity (just above 2.3 Qamsari said. European Union embargo on its oil and increased pressure from Washington, and intends to keep up exports of some 2.3 million senior Iranian oil official said. barrels per day (bpd) this year, a T ehran had already considered million bpd) in our term contracts," Roughly 30 percent, or just under

to
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Period 1st quarter 2nd quarter 3rd quarter 4th quarter

those customers," said Qamsari.

Some, but not all, of any displaced volume could move into China as well as other Asian countries and Africa, he said. Iran was unlikely just to store crude on tankers as

700,000 bpd, of Iran's oil steams half that volume is shipped to Europe, roughly 200,000 bpd moves into Turkey and the

Number of issues 11 13 13 13

Price VND67,320 VND79,560 VND79,560 VND79,560

west of Suez, he said. More than

different routes if that were to happen, S. M. Qamsari, International Director of the

that was only a short-term solution. would remain unchanged this year. from our lifters, so we have the "We've got very high demand He said he expected shipments

remainder is routed into Africa. estimates Iran exports about Union. REUTERS

The International Energy Agency

National Iranian Oil Co (NIOC), told Reuters by telephone from T ehran

450,000 bpd to the European

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