Social News 12/6 (hourly updated)Programme to update disaster risk and warningThe scope of the programme will be concentrated in hurricane prone areas in remote islands and inland areas. Wind power is the world's fastest-growing energy source in the past 15 years. Solar and wind power are renewable so in the future, solar and wind power will be much cheaper than coal power." Once the legal problems are dealt with, the wind power sector will experience rapid growth and attract international investors to Vietnam. However, the growth is slow as only seven wind power projects with total capacity of 190 MW had been put into operation.

Vietnamese Deputy PM delivers speech at 24th int’l conference on future of AsiaPermanent Deputy Prime Minister Truong Hoa Binh highlighted the role of openness and cooperation spirit as crucial to help Asia overcome global financial crisis and facilitate economic growth in his keynote address at the 24th International Conference on the Future of Asia held in Tokyo on June 11-12. Delegates also debated measures that Asian nations need to take in the new context to maintain peace, stability and ensure sustainable development in each country and the whole continent. They agreed to accelerate economic cooperation in an effective and practical manner, with focus on key transportation, economic and infrastructure projects. The two leaders said that Vietnam and Laos will continue to share information and coordinate at multilateral forums to maintain peace, stability, and sustainable development in each nation. Teo committed to helping Vietnam enhance management capacity, share experience in training young leaders, and collaborate to foster regional economic integration through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Regional Comprehensive Economic Partnership (RCEP).

Experts concerned over foreign-currency credit surgeEconomists have warned of forex risks as corporate borrowers have grown dependant on foreign-currency credits, resulting in a strong rise in foreign-currency outstanding loans since early this year, according to Lao Dong newspaper. However, its dong lending rose just 5.3% compared with an 11.5% increase in lending in U.S. dollar and other foreign currencies. At the end of April, local banks’ dong credit growth was expected to be 4.1%, while that of foreign currencies was projected at 6.3%. According to a research team at BIDV, foreign-currency lending rose sharply in 2017, with a growth rate reaching 18% at the end of last year. In the coming period, enterprises will face risks if the dollar price and lending rate increase, the banker said.

Animated film projects about Vietnam’s history launchedVietNamNet Bridge – Well-known events in Vietnamese history will be depicted in several new animated film projects by young filmmakers next month. A scene in Giay (Paper), the first chapter of Tu Chien Thanh Da Bang (The Battle of Da Bang), a new animated film project using 3D technology by Duoc Moi Studio. Another 3D animated film, Dai Chien Bach Dang (The Victorious Bach Dang Battle), a production by students at the HCM City-based Hong Bang University, has remained popular since its release in 2012. The six-minute film features the Bach Dang Battle in 938, a famous event on the Bach Dang River between the Vietnamese, led by Ngo Quyen, and Chinese invaders under the Han dynasty. The victory of Bach Dang ended the 1,000-year rule of northern feudalism, opening a period of national independence and sovereignty.

Vietnamese student acts as Canadian consul general for one dayPham Phuong, a 15-year-old student at the Canadian International School, has played the role of Canadian consul general in HCMC after her victory in a contest. Pham Phuong (C), the winner of the “Consul General for a Day” contest, meets with the Consul General of Canada in HCMC, Kyle Nunas (R), and his staff at the consulate on ThursdayHaving won the “Consul General for a Day” contest organized by the Canadian Consulate General, Phuong visited the Canadian Consulate General in HCMC on Thursday and served as Canadian consul general for a day. She told the Canadian Consul General in HCMC, Kyle Nunas, and the trade promotion team that she hopes Canada will import coconuts from Vietnam. Phuong said she did not expect to win as she saw the competition as a way to practice writing an essay. Consul General Nunas said he felt happy when Vietnamese students have a deep understanding of Canada.

Steel firms find ways to secure exportsTariff pressure on steel exports to the United States, a market comprising over 10% of Vietnam’s steel exports, has been less extreme as local steel firms have diversified their material supplies to avoid dependence on Chinese materials, officials said. The United States slapped import duties on corrosion-resistant steel and cold-rolled steel imported from Vietnam and originating from China. According to Dung, Vietnam’s steel products account for a mere 1.6% of the United States’ annual steel imports; thus, it is unreasonable to argue that Vietnamese steel is threatening the United States’ steel industry. Thanks to these solutions, steel exports in the year’s first quarter did not decline, Dung said. Steel firms have also invested in modern technologies to increase product quality and have explored new markets.

Poor infrastructure leads to rise in traffic accidents in HCMCThe ongoing rise in traffic accidents in HCMC is attributable not only to drivers violating traffic rules but also to inadequate infrastructure that has failed to accommodate the growth in traffic, authorities have said. The year’s first four months saw 240 fatalities from traffic accidents, but only seven were recorded in May. According to Chairman of Binh Tan District Le Van Thinh, 23 traffic accidents occurred in the district in the January-April period, leaving 24 dead. Bui Xuan Cuong, director of the HCMC Department of Transport, said the department plans to adopt traffic management solutions and invest in activities to organize traffic in a bid to reduce traffic accidents and fatalities. Tuong of the HCMC Traffic Safety Committee said accident-prone areas should be fixed quickly, adding that traffic incidents at the An Suong and My Thuy intersections have dropped after tunnels were introduced to these areas.

Thai, Japanese, South Korean investors buy Vietnamese plastics companiesVietNamNet Bridge - Many strong brands in the plastics industry have fallen into the hands of investors from Thailand, Japan and South Korea, which has raised concern about the future of the industry. Prior to that, it spent $121 million to acquire shares in seven Vietnamese plastics companies. Not only Thai, but South Korean investors are also eyeing Vietnam’s plastics market. Lam of VPA said he was concerned about the future of Vietnamese plastics companies which need capital, use outdated technologies and lack qualified workers. RELATED NEWSMany Vietnamese plastics firms change handsWill Thai giant take over Binh Minh Plastics?

SOEs under trade ministry to be inspectedThe Government Inspectorate will carry out an inspection targeting State-owned enterprises (SOEs) in which the Ministry of Industry and Trade (MoIT) controls State capital. The inspection team contains 11 members, led by Nguyen Duy Binh, senior inspector of the Government Inspectorate. Bui Ngoc Lam, Deputy General Inspector of the Government Inspectorate, has asked the ministry to provide records and related documents required by the inspection team. Lam has asked the inspection team to co-operate with MoIT and the SOEs under the management of the ministry to carry out the work efficiently, avoiding costing those firms time and money. According to the Ministry of Finance, 570 SOEs were equitised in 2011-16.

Which way out for Vietnam’s pepper? Chair of the Vietnam Pepper Association (VPA) Nguyen Nam Hai said the pepper trade remains busy. Thao Dung, a company specializing in collecting pepper in Loc Ninh district of Binh Phuoc province, has been discovered using substandard products to increase pepper weight. A VPA official expressed his concern that the scandals would affect the prestige of Vietnam’s pepper products in domestic and international markets. Deputy Minister of Agriculture and Rural Development Tran Thanh Nam confirmed that some opponents had exploited the scandals to speak ill of Vietnam’s pepper and coffee.

Main causes of building disputes identifiedThe Ministry of Construction has pointed out five major causes of disputes between investors and customers at apartment buildings. According to the ministry, there were five main causes for disputes. Finally, the building investors, operators and buyers rarely hold meetings to talk about issues in a constructive and structured way. Disputes between investors, buyers and other parties have occurred at 108 of 215 reported buildings. The local authorities in all cities and provinces were asked to submit reports about building disputes to the Ministry of Construction by November 30 last year.

OTT faces challengesAlthough the huge number of Vietnamese viewers of online videos is expected to pave the way for OTT (over-the-top) service to further develop in the local market, such a service is still having difficulty competing with international online channels and others, heard a seminar on OTT on June 7 in HCMC. A fall in the number of viewers on TV creates both opportunities and challenges for OTT service providersDomestic OTT apps not only have to compete with international channels and video-sharing websites such as Youtube with 50 million Vietnamese subscribers, but also fight with each other to woo viewers, especially with OTT apps providing pirated videos. She therefore suggested that relevant agencies and authorities take measures and tough sanctions against film copyright violations. Bui Huy Nam, general director of Vietnam Television Cable Corporation, asked agencies and authorities to quickly take actions with tougher punishment. However, there are many complicated problems to handle and punish violating websites, especially the gathering of evidence since State agencies cannot punish websites accused of piracy if foreign owners of such films do not sue the violators.

Green energy projects in Vietnam still strugglingThough the Government has issued a slew of incentive policies, electricity purchase contract and credit risk issues have put a dent in solar and wind power market growth. “No projects of the Vietnam Electricity Group have got Government backing in the year to date,” said Thang. Overall, electricity purchase agreement and credit issues are regarded as the two biggest difficulties in the eyes of investors. “Vietnam is blessed with immense potential for clean renewable energy development,” PM Phuc told the news agency, adding that the country has great potential for wind energy at an estimated 500-1,000 kWh/m2 on an annual basis. Vietnam has been implementing a strategy for developing renewable energy by 2030 with a vision until 2050, he said.

Draft law on special administrative-economic units delayed for revisionThe Government has proposed that the draft law on special administrative-economic units will be submitted for voting later at the sixth session of the 14th National Assembly (NA) at the end of this year. The Government Office has just announced that the submission will be delayed to allow more time for the revision of the draft. "The bill had been proposed to legislators for the first time at the fourth session of the 14th National Assembly," the office said. "But after listening to opinions from economic experts, scientists, and the wide public, we've decided to delay the submission time to revise this draft law to ensure the success of these SEZs." "We will propose reducing the leasing time to the National Assembly," Phuc told reporters.

US celebrity chef Anthony Bourdain dies of suicideUS celebrity chef and television personality Anthony Bourdain has died at the age of 61 as a result of suicide, the CNN network confirmed in a statement. US celebrity chef and television personality Anthony BourdainHis close friend Eric Ripert, a French chef, found Bourdain’s body hanging in a hotel room on June 8 morning in France. Bourdain died while on a business trip to Strasbourg, France, to work on a shoot for his series “Parts Unknown” on CNN. Anthony Bourdain shot to fame in 2000 with a best-selling book called Kitchen Confidential: Adventures in the Culinary Underbelly, a behind-the-scenes expose on the world of haute cuisine. Three years later he joined the Travel Channel with Anthony Bourdain: No Reservations, picking up two Emmy Awards.