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BUSINESS NEWS IN BRIEF 17/7

 Four banks asked to report on ATM fee hikes over past 2 years, Gloomy forecast for Vietnam’s rice exports in second half of 2018, More enterprises shuttered in first half of 2018

Newcomers in drug market expect profits from distribution activities

According to IMS Health, Vietnamese spending on drugs increased rapidly from $27.1 in 2011 to $45.8 now. However, this figure is only about half of other regional countries. It is expected to rise to $85 by 2020.

Piracy is the biggest challenge for Vietnam’s OTT market

VietNamNet Bridge - The domestic OTT market is entering a period of stiff competition with copyright posing the biggest pressure. 

Hydroelectric plants are tightly monitored and supervised

 VietNamNet Bridge – Hoang Quoc Vuong, Deputy Minister of Industry and Trade speaks to the Nhan Dan (People) newspaper about violations in the operation of reservoirs.

Vietnamese dishes favored in Russia

 Typical Vietnamese dishes like “phở” noodle soup, spring rolls, summer rolls, and sandwiches called “banh my” are now available in many restaurants across Russia.

Korean movie star Kwon Sang Woo to visit Vietnam

 Famous actor Kwon Sang Woo of the Republic of Korea (RoK) will visit Ho Chi Minh City this July.

Vietnamese piano prodigy to perform at Vietnam Connection

 Vietnamese piano prodigy Nguyen Viet Trung will perform with the Arod Quartet at the French cultural center L'Espace on August 25 within the framework of the Vietnam Connection Music Festival.

Hue sets global example for cultural heritage preservation

 Hue is home to not only Vietnam’s last ruling monarchy in 143 years, but also to a number of priceless tangible and intangible heritages such as palaces, royal tombs, garden houses, art forms and royal cuisine.

Int’l physics conferences open in Binh Dinh

 International physics conferences themed “Views in Topological phase: From solid-state physics to high-energy physics" and “Borders of neutrinos" opened in the central province of Binh Dinh on July 16.

Vietnamese tea receives ‘Tea of the World’ awards

 Vietnamese tea products from Thai Nguyen, Con Linh-Ha Giang, and Moc Chau-Son La have received awards at the first ‘Tea of the World’ AVPA Paris 2018 International contest.

Golden hopes of Vietnamese sport at Asian Games 2018

 It seems to be a tough task for Vietnamese sport to achieve the set target of securing three gold medals at the upcoming Asian Games (Asiad) in Indonesia. 

Romanian artist opens solo exhibition in Hanoi

 A solo art exhibition titled ‘Focus’ by the Romanian painter Sergiu Moise is being held at the Vietnam University of Fine Art, 42 Yet Kieu street, Hanoi from July 13-20.    

More Chinese firms invest in Vietnam’s energy projects

The Ministry of Industry and Trade has proposed the transfer of the investment rights of some energy projects to Chinese investors. 

Real estate "bubble" of no concern

 Given recent actions directed at lending, there is virtually no chance of a real estate "bubble" appearing in Vietnam's real estate market this year or next. 

Rare document of 1973 Paris Peace Accords on display

 VietNamNet Bridge – A number of declassified documents relating to the 1973 Paris Peace Accords, stored by the United States National Archives, are now showcased to the public for the first time in Vietnam.

Tropical low pressure enters East Sea, likely to become typhoon

 The National Centre for Hydro-meteorological Forecasting announced on July 16 that a tropical low pressure system will enter the north of the East Sea and is likely to strengthen into a typhoon.

Imports of used materials to be tightened

 VietNamNet Bridge – The Ministry of Natural Resources and Environment (MoNRE) will ask the Government to restrict the import of recyclable and used materials to Vietnam.

Woman jailed in the UK for pretending to be a vulnerable child

 VietNamNet Bridge – A Vietnamese woman who duped the authorities in the United Kingdom claiming she was a 16-year-old child has been jailed, after police discovered she was in fact a grown woman.

Facebook will not remove fake news - but will 'demote' it

 Facebook says it will not remove fake news from its platform because it does not violate its community standards.

Student enrollment boom puts pressure on HCM City system

 VietNamNet Bridge – A significant increase in the number of students for the 2018-2019 academic year in HCM City is putting pressure on schools that lack a sufficient number of teachers and facilities,