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February 2008

29

February

Chinese online game named best in 07

Demi Gods and Semi Devils (photo: tl.gate)

Demi Gods and Semi Devils, a Chinese online game distributed by FPT Online in Vietnam, received the award for the most successful game in Vietnam 2007 at an award ceremony held in Hanoi on February 27.

 

Perfect World, distributed by Quang Minh DEC, and Boom Online by VinaGam won the second prizes.

 

The most successful online games were selected based on six standards: image, sound, gameplay, security, service and cost, based on the votes of nearly 11,800 gamers.

 

The selection was organised by Gamethu.net, one of the biggest online game websites in Vietnam. The event will be organized annually.

 

The 12 games that participated in the selection are: Boom Online, Wind God’s Fights, Nine Dragons (distributed by VinaGame), SilkRoad Online (VDC), Cabal Online, Ghost Online, The Legend of Three Kingdoms, Tieu Ba Vuong (Asiasoft), Crazy Kart (VTC), Shaiya (Saigontel), Perfect World (Quang Minh DEC) and Demi Gods and Semi Devils (FPT Online).

 

(Source: VNE)

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29

February

Tien Minh rises to top in 1st round

Vietnamese number one Nguyen Tien Minh defeated the host nation’s Roman Spitko 21-14, 21-7 in the first round of the Yonex German Open Badminton Championship on Wednesday.

Vietnamese number one Nguyen Tien Minh, in action at the national tournament, outplayed host rival Roman Spitko in the first round of the Yonex German Open Badminton Championship on Wednesday, winning 21-14, 21-7.

Minh, who is ranked 39 in the world, overcame his German rival, ranked 49 places lower, with little difficulty in just 23 minutes. He will next play Japan’s Shoji Sato, the championship’s No 3 seed, who earlier beat Bobby Milroy of Canada 21-14, 22-20.

Minh and Sato have met several times before, each winning and losing.

“It is a quality badminton tournament. I will have to try my best to get through to the quarter-finals, which will give me qualification points for the Olympics,” said Minh.

Minh, who is scheduled to play in four other championships before August, is confident of qualifying for the 2008 Beijing Olympics.

“I will surely win a berth to play in Beijing so I am feeling comfortable and relaxed about competitions in England, Switzerland and India, as well as the Asia championship in Malaysia this April,” Minh said.

In other Open games, No 1 seed Park Sung Han of South Korea defeated Christian Bosinger of Switzerland 21-14, 21-11. Park, ranked 12th in the world, lost to Minh in the Thomas Cup in HCM City last week.

Meanwhile, No 2 seed Lee Hyun II, also from South Korea, defeated Germany’s Bjorn Joppien 21-13, 21-12.

The upset of the tournament was the defeat of No 4 seed Lee Tuseng Seng of Malaysia by Eric Pang of the Netherlands 17-21, 22-20, 12-21.

In the women’s competition, Vietnam’s Le Ngoc Nguyen Nhung, ranked 89th in the world, failed to get through the first round despite training in Germany this year. She lost 8-21, 10-21 to host Juliane Schenk, who is seeded No 4.

This year’s tournament has attracted a record 363 participants from 43 nations. However, a number of stars were absent, notably world No 1 Lindan of China and his teammates Chen Yu (last year’s runner-up) and Chen Jin (who won in 2006), who withdrew at the last minute.

Europe’s top player Peter Gade of Denmark was also absent due to injury. He said he wanted to an concentrate on getting fit for the Beijing Olympics.

(Source: Viet Nam News)

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29

February

Experts warn about dangers of hamsters

Photo: Hamstervn.net.

 Owning pet mice and hamsters is a popular new trend among young people, but the Veterinary Agency on February 26 asserted that importing pets without the proper licensing and procedures is illegal. Meanwhile, scientists say this kind of mouse may have adverse impacts on human beings.

 

The Veterinary Agency said importing Hamsters into Vietnam as pets must be controlled. Imported mice must be quarantined and registered at the Animal Husbandry Agency, and the import must be allowed by the Health Ministry.

 

Importing Hamsters became popular in Hanoi and HCM City in late 2007, when young people started buying rats to welcome the Year of Rat. A Hamster is priced from several hundred thousand to millions of VND.

 

Nguyen Thi Vuong, an expert from the Central Epidemiology Institute, who is in charge of rearing mice for experiments, said Hamsters can bite through timber and other hard objects, so owners should be sure to lock them in cages.

 

Vu Dinh Thong, an expert from the Institute for Ecology and Environmental Resources, said Hamsters eat 2-2.5 times more than normal mice. They can eat everything, from vegetables to leaves, grass and rice. Thong warned that if they are released, Hamsters can destroy the environment.

 

The Veterinary Agency also warned that mice are carriers of disease. The agency asked local veterinary divisions and animal quarantine agencies to inspect mice trading in their areas.

 

Hoang Thanh Nhan from the Natural Resources and Environmental Agency said that previously a number of beavers were imported into Vietnam as pets; scientists warned people about potential damages and the import of beavers was stopped before any real harm could be done.

 

Hamsters mainly originated from Holland and Africa and have a 2-2.5 year lifespan. They can deliver 4-5 babies every three months. They can live in cages and are less adaptable to natural life. If they escape and adapt themselves to the environment in Vietnam, they may become harmful to crops.

 

(Source: VNE)

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29

February

Petrol price rise further pressurizes inflation

Vietnam has been unsuccessful over the last four years in keeping prices commensurate with the living standards of average citizens.  The petrol price increase this week is only further worsening inflationary pressure.

 

 

VietNamNet Bridge briefed an article by Nguyen Dinh Bich, Senior Economist from the Trade Research Institute, published on Thoi bao Kinh te Vietnam.

 

Though state management agencies have said that the petrol price increase will not too seriously influence consumer prices, it is now becoming evident that, once again, Vietnam may not be successful in curbing inflation in 2008. This assertion is evidenced by three key points.

 

First of all, the petrol price increase will certainly start a wave of consumer price increases, which may far exceed policy makers’ estimates.

 

When the Ministry of Finance announced the petrol price increase in late 2007, an official of the ministry said the bump would not have big impacts on the consumer price index (CPI), because petrol is not listed in the ‘basket of commodities’ for calculating CPI.

 

This official failed to take into account the breadth of economic impact a petrol price has on both the domestic and global markets.

 

CPI hit a record high of 2.91% in December 2007, which contributed to the annual record high inflation of 12.63% in 2007.

 

The petrol price increase was obviously not the only ‘culprit’, but was undeniably a significant factor.

 

Second, as well as the petrol price increase, the domestic economy is now facing ongoing input material price increases

 

IMF’s statistics show that after slightly decreasing in the last two months of 2007, the prices of non-petroleum input materials have soared again, hitting an all-time record high of 147.5 points.

 

It is obvious that for an economy that ties itself so closely to the global market, globally rising material prices will impact Vietnam’s market for these products, and in some cases, have a greater effect because of the scale.

 

Third, the national economy contains innate factors that may push consumer prices up.

 

The price increases have become sharper in the last few years. The CPI increase in the last three months of 2007 was a moderate 4.94%, while the increase of the first two months in 2008 reached 6.2%; the inflation rate of the first two months alone is equal to 2/3 of the maximum GDP growth rate projected for 2008.

 

It is clear that the petrol price increase, which occurred, incidentally, at a very sensitive time for the domestic market, may dampen the plan to keep inflation below the growth rate.

 

Meanwhile, experts have warned about the agricultural devastation caused by cold weather, which will certainly drive up both food prices and inflation

 

The cold spell in 1989 effectively destroyed the agricultural output in 1990, and there was only a very modest recovery in 1991. This resulted in food prices to jump by 67.1% and 72.4%, respectively.

Discussing the petrol price increase, Government officials say it was ‘unavoidable’. But also unavoidable, it seems, are continuing price rises which may result in another year failing to keep inflation below the GDP growth rate.

 

(Source: TBKTVN)

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29

February

Foreign investors take advantage of falling stock prices

The declining stock market is proving an advantage to medium and long term investors who are buying potentially valuable shares for low prices.

 

Trading boards lit in red as indexes continue to dip

The Government’s goals for 2008 is an economic growth rate of 8% to 9% and inflation below that, a stable exchange rate encouraging export, and a bustling stock market.

 

However, as the second month of this New Year comes to a close, the reality of this year’s economic challenges are beginning to take shape: inflation is through the roof (12.63% in 2007), and there is an at-capacity real estate bubble.

 

The central bank responded by withdrawing VND20tril from circulation, a necessary move to curb inflation, but it is also revaluating the VND against the dollar and adversely impacting the stock market.

 

The Government is now getting hit from all sides, under pressure to improve every economic facet. Commercial banks are all trying to raise deposit interest rates, raising the lending interest rates, thus putting a heavier financial burden on businesses.

 

However, despite the challenges, investors still see long-term potential in the stock market. And savvy investors know the market’s falls is only to their advantage.

 

“We will still invest in Vietnam’s companies,” said Andy Ho, Managing Director of Vina Capital, adding that though share prices have fallen, they remain relatively high.

 

Short-term investors are struggling, they are responding to the market rather than anticipating it. Tim Dattles, an investor with wisdom and who hunts for subtle opportunities is Managing Director of TPG Capital, a big private investment fund from the US; he says TPG is still hunting for stock of rising companies in Vietnam and China.

 

Vietnam is an attractive market. However, stock prices were inflated in 2007 and there was a supply shortage. TPG has an eye on Vietnam’s bourse and knows it is likely to rise in the coming time, he said.

 

Experts say that for medium and long-term investors, Vietnam’s portfolio investment market is full of opportunities.

 

There is also some concern that the wallowing US economy may negatively impact Vietnam, as big international investors may restructure their investment portfolios and reduce investments in small and changeable markets like Vietnam.

 

Ho from Vina Capital said that he cannot anticipate how foreign investors will responded to the decline of Vietnam’s stock market. Vina’s last fund raising took was in November 2007 in London, when Vietnam’s market hadn’t yet hit its point of fastest decline.

 

(Source: SGTT)

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