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At the Sin Suối Hồ border commune in Phong Thổ District, the northern mountainous province of Lai Châu, visitors not only can immerse themselves in natural scenery, but also enjoy unique customs and practices, including the fair of the Mông ethnic minority. During the first days of the Lunar New Year, Sin Suối Hồ Village in Sin Suối Hồ Commune, which is located at an altitude of nearly 1,500 metres above sea level, the scenery is beautiful. Walking along the winding road, with white mist covering the mountains, the countryside is even more majestic and attractive to tourists. Cherry blossoms and cymbidium bloom in  spring. Sin Suối Hồ Fair sells agricultural products of the Mông ethnic people.— VNA/VNS Photos Nguyễn Oanh It is a unique cultural feature of the Mông ethnic people. The fair takes place every Saturday. Many local products are on offer at the fair. Tourists also visit the fair. It is located at an altitude of nearly 1,500 metres above sea … [Read more...] about Sin Suối Hồ Fair celebrates the Lunar New Year

For long-term investors, it is a good time to buy By Ngoc Tran Le Hong Lien, head of Institutional Research at Maybank Kim Eng Securities HCMC - The Vietnamese stock markets is in a roller-coaster rideas volatility is back, but for Le Hong Lien, head of Institutional Research at Maybank Kim Eng Securities, it is still a good time to buy, especially for long-term investors. The Saigon Times spoke with Lien. The Saigon Times: A few days ago, the Fed raised the U.S. interest rates again, and now we are feeling its impact. Most local stocks are down. Will this impact continue into 2019 or is it merely short-lived? - Le Hong Lien: Fairly speaking, the VN-Index (of the Hochiminh Stock Exchange) had edged up over the past few days. I attribute that more to some expectation that there would be some positive movement of the VN-Index itself towards the end of the year, especially when the Government continues to provide quite a positive guidance to next year of … [Read more...] about For long-term investors, it is a good time to buy

Sun Group inaugurates major infrastructure facilities in Quang Ninh The Saigon Times Daily A cruise ship is at anchor at the Halong International Passenger Terminal – PHOTO: VNA HCMC – Following the launch of the Van Don International Airport , Vietnamese private firm Sun Group inaugurated the Halong International Passenger Terminal and the Halong-Van Don Expressway in the northern province of Quang Ninh on December 30, reported the Vietnam News Agency. The terminal, located in Bai Chay, Halong City, was developed under public-private partnership between Sun Group and Quang Ninh Province with a total investment of VND1.03 trillion (US$44.3 million). It was designed to have a 524-meter pier that can receive two cruise ships at a time with a capacity of up to 225,000 GT and passengers totaling 8,460, including the crew. The port provides a five-star three-story terminal, covering 7,600 square meters, and a harbor serving 250 tourist boats, carrying visitors to … [Read more...] about Sun Group inaugurates major infrastructure facilities in Quang Ninh

VN Air to pick Tien Giang’s Hoa Loc mango as in-flight fruit By Trung Chanh A Vietnam Airlines aircraft. Tien Giang Province's Hoa Loc mangoes will be served on the carrier’s flights – PHOTO: LE ANH CAN THO – Tien Giang Province’s Hoa Loc-branded mangoes are expected to be served on Vietnam Airlines’ flights, according to Doan Van Phuong, director of the Tien Giang Department of Industry and Trade. Phuong told the Saigon Times on December 30 that after the Lunar New Year, or Tet holiday, the province would sign a cooperation agreement with the national flag carrier, Vietnam Airlines, to take Hoa Loc mangoes on board. Two firms representing the province -- Cat Tuong Agricultural Products Producing and Processing Co., Ltd, and Hoa Loc Mango Cooperative -- are in talks with the airline to use Hoa Loc mangoes as a dessert on its flights, Phuong said. The relevant parties have reached an agreement, Phuong said, adding that other fruits are also expected to be accepted … [Read more...] about VN Air to pick Tien Giang’s Hoa Loc mango as in-flight fruit

Timber industry wary of raw wood import from Cambodia By Thuy Dung Employees  work on a wood processing line at a local company. Domestic plantation timber has satisfied 75% of demand for wood materials and exports – PHOTO: THUY DUNG HCMC - The source of raw wood from Cambodia has put Vietnam’s timber industry at risk in the context of Vietnam reaching an agreement with the European Union on the supply of legal timber. The Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLEGT), which was signed in October 2018, set out regulations to address illegal logging and to promote Vietnam's legal timber and wood products trade, not only for export but also for domestic consumption. From the perspective of the whole wood supply chain, Huynh Van Hanh, vice chairman of the Handicraft and Wood Industry Association of HCMC (Hawa), said that domestic plantation timber has now satisfied 75% of the demand for  wood materials and exports, … [Read more...] about Timber industry wary of raw wood import from Cambodia

Phone exports surpass US$50 billion By Hung Le Samsung Galaxy Note8 phones on display – PHOTO: HUNG LE HCMC – The export of phones and parts brought in a staggering US$50 billion in 2018, up 10.5% from a year earlier. Meanwhile, 2018 was the first year in which a group of products exceeded US$50 billion in export value, according to the General Statistics Office. Data shows that as many as 29 groups of products whose outbound sales have gained over US$1 billion each accounted for up to 91.7% of the total exports. The group of phones and parts took the lead in export value, largely thanks to Samsung Electronics Vietnam and other foreign investors making up 99.7% of the total exports. Moreover, the United States, the European Union and China are still the largest export markets of this group of Vietnamese products. The group of textiles and garments came second with outbound sales of US$30.4 billion, followed by electronics, computers and their parts, US$29.4 … [Read more...] about Phone exports surpass US$50 billion

Fuel prices lowered today The Saigon Times Daily Local consumers wait for their motorbikes to be refilled at a gas station in this file photo. Fuel prices on the local market dropped today - PHOTO: VNA HCMC - Retail fuel prices on the local market are down today, January 1, by VND515 to VND1,092 per liter or kilogram, the local media reported, citing a statement jointly issued by the ministries of Industry and Trade and Finance. The price of bio-fuel E5 RON92 petrol decreased by VND515 per liter to VND16,272, while higher-grade RON95-III gasoline dropped VND538 per liter at VND17,603. Diesel oil saw the highest reduction in price, dropping VND1,902 per liter, with the current ceiling price of VND14,909, while kerosene is priced at VND14,185 per liter, falling VND818. Also, heavy fuel oil 3.5S fell by VND733 per kilogram to VND13,275. During the first fuel price adjustment of 2019, the extraction rate applied to the bio-fuel E5 RON92 … [Read more...] about Fuel prices lowered today

Sabeco opposes HCMC taxman’s debt coercion decision By Tam An HCMC – Saigon Beer-Alcohol-Beverage Corporation (Sabeco) has objected to a decision by the HCMC Tax Department to coerce VND3.14 trillion (US$135.4 million) in a special consumption tax and fines for violations of tax laws, as the decision goes against the 2006 Law on Tax Administration, said Sabeco general director Neo Gim Siong Bennett. Under the law, tax debts will be collected if they are longer than 90 days overdue, while the deadline for Sabeco to fulfill their tax obligations was December 27, 2018. In addition, tax authorities can coercively collect the tax arrears in case tax debtors have yet to pay their tax arrears, while the extension of their payment deadline is no longer valid, or if tax debtors seek to flee. On December 24, the HCMC Tax Department announced that Sabeco must pay VND3.14 trillion in special consumption tax and fines, in accordance with the conclusion on Sabeco's violations of the … [Read more...] about Sabeco opposes HCMC taxman’s debt coercion decision

Several major traffic projects to get off ground in 2019 By Le Anh A view of the current My Thuan Bridge – PHOTO: LE ANH HCMC – The Ministry of Transport will commence construction this year on major traffic projects, with three components of the Eastern North-South Expressway to get off the ground in the middle of the year. The Cao Bo (Nam Dinh) – Mai Son (Ninh Binh) section is the first subproject, which is expected to be put up for bid in April 2019 to find a contractor. Work on the project is scheduled to begin between July 10 to 19, 2019. The second project will be the Cam Lo-La Son section, with a length of 98.3 kilometers, running from Quang Tri Province to Thua Thien-Hue Province in the central region. The subproject is expected to cost VND7.7 trillion. A technical design consultant has already been chosen for the Cam Lo-La Son section, which will begin construction during the second quarter of 2019. When in place, the new expressway will connect Ho Chi … [Read more...] about Several major traffic projects to get off ground in 2019

New Year promotions at Sheraton Saigon The Saigon Times Daily Singaporean acclaimed celebrity DJ Farah Farz will perform at Level 23 Nightspot’s countdown party on December 31 - PHOTO: COURTESY OF SHERATON SAIGON HOTEL & TOWERS HCMC – The Sheraton Saigon Hotel & Towers has launched some accommodation promotions for the New Year, enabling guests to indulge in a complete experience of comfort and sophistication during the holiday. A night in the hotel’s Premier Deluxe room costs from VND3.95 million, including daily buffet breakfast for two persons at Saigon Café Restaurant and complimentary access to Sheraton Fitness and Swimming Pool. Guests can pamper themselves in the exclusive Grand Tower Studio with full Club Lounge access and benefits for up two persons, daily buffet breakfast and complimentary access to Sheraton Fitness and Swimming Pool. Rate starts from VND4.9 million per room per night. The promotions are applicable to bookings from now till … [Read more...] about New Year promotions at Sheraton Saigon