Mekong Capital divests from Asia ChemicalsMekong Enterprise Fund II, a unit of Mekong Capital, has completely divested from Asia Chemicals Corporation (ACC) and taken in US$8.9 million, a 2.6-fold increase over its initial investment, after a seven-year holding period.According to a press release issued by Mekong Capital on August 10, in 2011, MEF II invested US$3.8 million in ACC, which was its 10th investment, after others in Mobile World Investment Group (The Gioi Di Dong), Golden Gate, Vietnam Australia International School and International Consumer Products.However, MEF II has now divested from all of its 10 earlier investments. The divestments have helped the fund generate a gross return multiple of 4.5 and a gross internal rate of return of 22.5%.Early this year, MEF II sold five million shares at Mobile World, generating a gross return multiple of 56.9 and an IRR of 61.1%, making it one of the most successful investments in Asia.Also, the fund’s full exit from Vietnam … [Read more...] about BUSINESS NEWS IN BRIEF 22/8
Vietnam australia international school review
Human traffickers jailed for 80 years The People's Court in the southern Tay Ninh province yesterday sentenced 23 defendants to 80 years in jail for human trafficking, illegal money lending and fraud with the intent to appropriate property. The harshest sentence, 12 years and six months in jail, was given to Nguyen Truong Son, 39, the head of the ring, from Tay Ninh Province. His wife, Tran Thi Co, 34, was given a four-year jail sentence. The indictment by the provincial People's Procurary said the couple, along with other members of the gang, cheated and forced some 40 women to work at a karaoke bar. They also lent money to these women as monthly stipends at very high interest rates. The couple is believed to have earned more than VND1.2 billion (US$56,000) from such illegal money lending. In addition to being loan sharks, the couple also confessed that they had trafficked 20 women. Man killed in road accident The two vehicles, coming from opposite directions, collided head-on … [Read more...] about Social Headlines December 25
Sydney (VNA) – A new executive board of t he Association of Vietnamese Dynamic Students (VDS) in New South Wales (NSW), Australia in the 2016-2017 tenure, was announced at a meeting in Sydney on April 13. Speaking at the event, former VDS President Hoang Anh reviewed the association’s 2015 activities, which included fund-raising for children living with heart disease in Vietnam and cultural and sporting exchanges for Vietnamese and Australian students. VDS held a series of activities to promote Vietnamese culture to international friends, Anh said. Newly-elected President of VDS Le Ngoc Han affirmed that she will do her best to advance the association’s goals, with the focus on enhancing links with other associations and raising the role and awareness of Vietnamese young people in preserving traditional culture. Vietnamese Consul General in Sydney Hoang Minh Son said he hopes the new board will work closely with the Consulate General on management and support for … [Read more...] about Association supports overseas students in Australia
Government struggles to lure overseas Vietnamese talent back home; experts say it may take years After the Vietnam War ended in 1975, Jean Nguyen and her family moved to the US, where she then graduated at the top of her class at West Point, America's premier military academy, ten years later. US President Ronald Reagan called her an "American hero." Nguyen's story, and the story of US-Vietnam relations, came full circle that day. West Point was a driver of the killing of millions of Vietnamese and a million more Laotians and Cambodians during "The Vietnam War," which had caused Nguyen to leave. The country now finds itself lacking talented and trained workers, specialists and leaders. Historically, the cause has been war and colonialism and their lingering aftereffects. Currently, it might have to do more with bloated bureaucracies and business and management culture. Experts are mulling over what can be done in Vietnam to keep talent around, and draw in talent from … [Read more...] about Vietnam’s not got talent?
Chinese tourists resume visits to Viet Nam despite tensions Viet Nam ensures the security and safety of foreign tourists visiting the country, Deputy Minister of Culture, Sports and Tourism Ho Anh Tuan said yesterday. At his working session with the northern province of Quang Ninh, the deputy minister said that Chinese tourists have, in recent days, resumed tours to Viet Nam, mainly through the border gates in the northern provinces of Lang Son, Lao Cai and Quang Ninh. According to Vice Chairwoman of the provincial People's Committee, Vu Thi Thu Thuy, Chinese tourists travelled through the Mong Cai international border gate on tours to the province and other localities organised by Chinese travel companies. In 2013, the province catered for about 7.5 million visitors, including 2.6 million international guests. In the first five months of the year, Quang Ninh greeted 1.2 million foreign visitors, of whom Chinese and Taiwanese tourists made up 38 per cent. In May, East Sea tension … [Read more...] about Chinese tourists resume visits to Vietnam despite tensions