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Danang Hi-Tech Park needs VND1.3 trillion
Danang City is promoting investments into housing, training and service facilities in Danang Hi-Tech Park (DHTP) worth a combined VND1.268 trillion, according to the Danang Investment Promotion Agency.
Director of the agency Le Canh Duong on March 26 said local and foreign firms could choose to invest through public-private partnerships (PPP), which include build-operate-transfer (BOT).
In addition to seeking capital for these facilities, DHTP also wants to attract investors to a research and development center to assist operations of enterprises there. Such projects can be financed by official development assistance (ODA) capital, according to Doan Ngoc Hung Anh, deputy head of the DHTP management board.
In particular, the housing development project comprises villas, adjoining houses and condominiums with an investment estimated at VND842 billion. It aims to provide quality accommodation for employees, experts and scientists working at DHTP. Meanwhile, service facilities that will go up need some VND316 billion.
As for the training center project, an estimated VND110 billion will be needed to train and develop human resources.
According to Satoru Takizawa, chairman of the Japanese Business Association in Danang, one major weakness of the city is its human resources have not met requirements of Japanese hi-tech firms. Therefore, it is crucial to invest in personnel training.
VinCommerce to sbeplit soon
Vingroup JSC will split VinCommerce into two separate retail units called VinCommerce and VinPro, the board chairman of Vingroup said last week in an announcement sent to the stock exchange.
In the document posted at the website of the State Securities Commission of Vietnam and the Hochiminh Stock Exchange, Vingroup said that following the split, VinPro would be in charge of electronics stores while VinCommerce will operate other retail store chains.
VinPro will be established with chartered capital of VND500 billion, of which Vingroup owns 42.63%, or nearly a 21.3 million shares transferred from VinCommerce.
Prior to the separation, VinCommerce had been operating electronics chain VinPro, the supermarket chain VinMart, the convenience store chain VinMart+ and the e-commerce website https://www.adayroi.com.
The VinPro retail chain currently has 33 supermarkets nationwide while VinMart has 65 stores and VinMart+ owns some 1,000 stores.
TAEL to pour more investment into Vietnam
Fund manager The Asia Entrepreneur Legacy (TAEL) expects to disburse US$150 million more into Vietnam, having already invested as much as US$175 million in this market over the past two years, news website Dau Tu reports.
TAEL has just convened an investors meeting in HCMC, gathering representatives of investment funds and government funds in the region. The fund manager highly values opportunities in Vietnam, and has invested a quarter of its portfolio capital in the local market in the last two years, said Michael Sng, partner of TAEL.
Its investments focused on high-growth enterprises in areas like healthcare, education, consumer goods and logistics, which are the priorities of the city.
Its fund TAEL Two has since 2013 invested US$175 million in eight companies, six of which operate in above-stated fields, namely Cotec Healthcare, Institution of American Education, Pan Pacific Corporation, GTNFoods JSC, Vinasun Corporation, and Vietnam Trade Alliance.
The Singapore-based fund was founded in 2007 with representative offices in Malaysia, Indonesia, Thailand, the Philippines and Vietnam. The firm specializes in growth oriented investment with the minor but significant stakes in family-controlled companies.
The ASEAN-focused private equity fund is now managing US$1 billion, specializing in institutional investors, State-owned funds, as well as equity funds from ASEAN, North America and the Middle East.
Retail sales, services revenue sees year-on-year rise of 11.05 percent
Retail sale and consumer service revenue in March amounted to VND85,248 billion ($3.7 million), an increase of 3.33 percent compared to February, reported The Department of Industry and Trade in Ho Chi Minh City.
It was estimated that in the first three months of the year, total revenue of retail sale and service reached VND254,491 billion, finishing 24.7 percent of the plan for 2018, a year-on year rise of 11.05 percent.
Of which, retail turnover wass estimated VND165.429 billion, an increase of 10,97 percent compared to the same period last year.
As per the Department’s forecast, by the first quarter, the growth speed of retail sale and services revenue will achieve 11.5 percent – 12 percent, partly thanks to state employees’ higher salary according to the Prime Minister’ decision which takes effect on July 1, 2018. Moreover, there has been a rise in wage of retirees and social welfare allowance.
The Department said there has been positive sign in the field of exports. Revenue of exports in HCMC in the first three months amounted to $8.83 billion, a hike of 10.56 percent including rude oil.
Agriculture, forestry, fishery revenue posted a year-on-year rise of 23.8 percent with $1.23 billion. Coffee, fishery, rice, vegetables and cashews saw a year-on-year increase of 24.3 percent, 23.1 percent, 21.7 percent, 41.3 percent and 52.7 percent respectively while industry revenue reached $5.98 billion, a climb of 17.6 percent.
Wood firms have huge orders in the first months of the year. Consumers prefer Vietnamese-made wooden items; accordingly, it is an opportunity for the sector.
Many foreign projects increase capital in Q1
A number of foreign projects increased their investment capital to expand production in the first quarter of the year, according to figures from the Foreign Investment Agency at the Ministry of Planning and Investment.
Most notably, the LG Innotek Hai Phong project increased its capital by $501 million while the Regina Miracle International Vietnam project added $260 million.
The Kefico Vietnam project added $120 million and the Vina Cell Technology project $100 million.
Thanks to LG Innotek’s capital increase, South Korea held top spot among countries and territories investing in Vietnam in the first quarter, reaching $1.84 billion, or 31.6 per cent of total investment capital.
Hong Kong followed, with $689 million, or 11.9 per cent of the total, then Singapore, with $649 million, or 11.2 per cent.
Total foreign capital, both new and additional, and capital contributions and share purchases by foreigners in the first quarter stood at $5.8 billion, representing 75.2 per cent of the figure in the same period of 2017.
Newly-registered capital was $2.12 billion, equal to 72.7 per cent of the same period of 2017, while additional capital was $1.79 billion, or 45.4 per cent. Capital contributions and share purchase reached $1.89 billion, or 121.6 per cent of the figure in the same period of 2017.
As at March 20, foreign direct investment projects had disbursed an estimated $3.88 billion, an increase of 7.2 per cent year-on-year.
Exports by foreign-invested enterprises (FIEs) (including crude oil) was $39.34 billion, up 22.8 per cent year-on-year and accounting for 72.4 per cent of total export turnover. Excluding crude oil, the figure was $38.83 billion, up 24.2 per cent and accounting for 71.5 per cent of total export turnover.
Imports by FIEs totaled $31.75 billion, up 13.7 per cent year-on-year and accounting for nearly 59.9 per cent of total import turnover.
FIEs therefore recorded a trade surplus of $7.59 billion, including crude oil, and $7.08 billion excluding crude oil.
Le Thuy lures in foreign investors to wind power sector
The enthusiasm of UPC Renewable Asia I Limited to develop two wind power plants in Le Thuy district of Quang Binh province, suggests Le Thuy might become the favourite destination of foreign investors in the wind power sector.
According to the latest developments, on March 20, a representative of UPC Renewable Asia I Limited returned to Le Thuy to conduct a survey and measure wind power to develop projects.
According to Phan Van Thuong, director of the Department of Industry and Trade of Quang Binh province, the province permitted the investor to install a wind tower to measure wind power. According to the regulations, the investor will be allowed to develop its project after 12 months of installing the wind tower.
At present, the investor has also completed the dossier to submit to the Ministry of Industry and Trade and the prime minister for approval.
Quang Binh is considered a dry land with little potential for economic development, while UPC is considered one of the world’s leading firms in develop renewable projects on all terrains, including mountainous, desert, even volcanic areas.
Thus, UPC’s investment is expected to open new opportunities for the province.
Regarding the potential to develop renewable projects, Pham Quang Nam, Secretary of the Le Thuy Party Committee, stated that the weather conditions of Le Thuy are suitable for solar power and wind power projects.
Previously, in January this year, the group joined a working session with leaders of the Quang Binh People’s Committee and relevant authorities to report on its plan to develop the two wind power projects named UPC-Le Thuy and UPC-Quang Binh.
Notably, UPC will pour VND2 trillion ($87.68 million) into building the UPC-Le Thuy wind power plant on an area of 16 hectares and VND10.2 trillion ($447.18 million) into UPC-Quang Binh on 130ha. Once the two plants come into operation, they will generate 158 million and 760 million kWh per year, respectively.
According to information from the Quang Binh Department of Planning and Investment, along with UPC, numerous other investors have registered to implement wind power projects in Le Thuy.
Accordingly, B&T Windfarm JSC aims to build two projects with a total capacity of 200MW in Quang Ninh and Le Thuy districts. Additionally, Tan Hoan Cau Group has proposed building a 300MW project in Minh Hoa district.
Dohwa Group from South Korea has constructed a 49.5MW solar project. Being one of Dohwa’s renewable energy complexes, it has a total investment capital sum of $55 million and is expected to generate power by the end of this year.
High-quality products fair to promote safe foods this year
The Vietnamese High-Quality Products Fair in HCM City early next month will have many new features, including a focus on introducing “Vietnamese High-Quality Products-Global Integration Standard” (GIS) certified products and others under the city’s food safety chain model.
Speaking at a press briefing in HCM City on March 27, Vu Kim Hanh, chairwoman of the Vietnamese High Quality Product Business Association, its organiser, said the fair would have 600 booths set up by 300 exhibitors.
Visitors can see “a strange garden” where they can see and touch quaint products made from Ben Tre Province’s coconut trees and fruits and grapefruits, which have been granted geographical indication certificates by the Ministry of Science and Technology, she said.
The fair would have a “Green-Nice Market” where farms, co-operatives and start-up firms showcase farm produce grown to safe or organic standards, she said.
The fair this year would also showcase activities to help local businesses further penetrate the global market through the association’s GIS project and a co-operation programme between the association and Saigon Innovation Hub, she said.
There will also be a promotion in which over 3,000 items will be sold at VND20,000 at 10-10.30am and 4-4.30pm daily, game shows, a cooking contest, and lucky draws with prizes of tours to Cambodia and destinations in Việt Nam.
For the first time the fair would be organised with the collaboration of the Food Safety Management Board of HCM City, and the two sides would organise an international seminar titled ‘Improving Quality Standards to Integrate into the Global Market’ on the sidelines of the fair, Hạnh said.
Sixty six Vietnamese food firms have obtained GIS certification, she added.
The fair will be held at the Phu Tho Stadium in District 11 from April 3 to 8
HCM City to play host to beauty expo
Cosmobeaute Vietnam, the largest beauty industry exhibition in Viet Nam, returns next month to HCM City, providing local and international exhibitors and visitors the opportunity to explore business opportunities
CP Saw, founder of Cosmobeauté, said more than 200 exhibitors from 13 countries and territories, including China, Germany, Hong Kong, Italy, Japan, Korea, Malaysia, Singapore, Spain, Taiwan, Thailand, the US, and Viet Nam would participate, and there would be four international pavilions from Korea, Singapore, Spain, and Taiwan.
On display will be beauty equipment for every part from head to toe including skin care products cosmetics and makeup; laser machine for body slimming, skin rejuvenation, tattoo removal, face lifting, and whitening; and hair care products.
Cosmobeaute will also host several programmes such as beauty workshops and seminars, live demonstrations, beauty shows and others, in which industry experts will share know-how and experience and update visitors on beauty trends.
With a rising number of middle-income earners in Viet Nam, there is incrreasing demand for quality beauty products, Saw said.
The event would be a platform for the local beauty industry to source premium brands, he added.
To be held at the Saigon Exhibition and Convention Centre from April 19 to 21, the event is expected to get 13,500 visitors.
Expert urges Vietnamese firms to explore other markets
Vietnamese firms should expand their partnership to at least three markets to avoid sole dependence on a particular market, said economist Phạm Chi Lan.
She also urged the firms to provide clear and transparent filings to meet the standards of exporting markets.
Vietnamese enterprises must prove that they do not enjoy protectionism of the government and do not sell products at a dumping price level to ensure they are not affected by the anti-dumping tax policies of the exporting markets, she said.
Given the context in which US regulators have planned to impose anti-dumping taxes on Vietnamese exports to protect their local fishery and steel industries, Lan suggested firms to explore other markets and diversify their targeted markets to ensure less reliance on a sole, large market.
“A three-market strategy will ensure that a company’s export is balanced and that business will not depend on any particular market,” Lan said.
Such business strategy will help Vietnamese firms to survive and exploit new opportunities in the context of a rising global trade war, following intense statements from China and the United States against each other, she said on the sidelines of a conference co-organised by the Vietnam Executive MBA Programme in Hà Nội, University of Hawai’i, and the European Chamber of Commerce in Vietnam last week.
The United States announced a US$60 billion tariff bill on Chinese imports last week. China, in return, filed a list of 128 US products for retaliation, raising global concerns about a possible trade war.
According to Jack Suyderhoud, professor of Business Economics at the Shidler College of Business, University of Hawai’i at Manoa, recent actions of the US government are aimed at protecting its local industries, such as fisheries and steel, against threats from cheaper imports from China and Việt Nam.
Rising protectionism will encounter objection from those benefiting from free trade, Jack said, adding that the US government should notice how important the win-win principle is and how it exists in every trade deal.
Lan urged local firms to strengthen their competency so that they can take advantage of benefits brought about by free trade agreements, to which Việt Nam must comply, and encounter less negative impacts from a possible global trade war.
Besides the US and China, Vietnamese firms should increase its influence in other markets, such as the European Union, reducing its dependence on the world’s two largest markets, Lan said.
“There are no winners in a trade war,” she said, adding that the United States and China are two of the largest trading partners of Việt Nam, thus, “we need to expand our trade relations to different markets to boost the country’s economy”.
“The establishment of the CPTPP (Comprehensive and Progressive Trans-Pacific Partnership), signed on March 8 without the United States’ participation, is a good way to deal with the unpredictable policies of the United States and China at the moment,” Lan said.
The CPTPP deal will help other economies to get to know each other, increase their cooperation and protect their economies, offsetting the damages caused by US protectionism and China’s responses, she added.
“CPTPP is proving to be attractive to other economies that are not partners to the deal, such as South Korea and the United Kingdom,” she said.
TT Group to co-operate on railway, stadium renovation
The industry-real estate-finance conglomerate T&T Group and France’s industrial Bouygues Group on Tuesday signed a co-operation agreement to invest in urban railway project No 3 and upgrade Hang Day Stadium in Ha Noi.
Accordingly, T&T Group plans to invest in and develop the project of urban railway No 3 (dual rail) in the form of Public Private Partnerships (PPP), connecting Ha Noi centre with Son Tay Township for a total length of 31.1km. The total value of investment in this project is estimated at 1.4 billion euros (US$1.74 billion).
In addition, the plan for the Hang Day Stadium renovation has an estimated investment value of 250 million euros.
Bouygues Construction is one of the world’s leading companies in the field of design and construction of international infrastructure projects. The Bouygues Group is committed to working with T&T Group in the design, construction, commissioning, maintenance, support and financing of the two projects.
The agreement, which was signed during a recent official visit of Viet Nam’s Party General Secretary Nguyen Phu Trong to France to mark the 45th anniversary of diplomatic relations between the two countries, will help open up investment opportunities in Viet Nam for the leading economic groups in the world and promote domestic and foreign cooperation for key national economic projects.
Founded in 1993, T&T Group JSC operates in the real estate, finance, industry, sports, and import-export trading market segments. Its real estate projects include residential units, trade centres, office buildings, resorts, marine eco-tourism areas, and urban areas and industrial zones. The company currently has total assets of VND20 trillion ($877 million) and charter capital of VND5 trillion.
50-70% of surplus budget revenue to be used for wage hikes
Half of surplus central budget revenue and 70% of surplus local budget collections will be kept to create resources for wage reform as from 2021, news website Vietnamnet reported.
At a seminar on reform of social insurance and wage policies in Hanoi last Saturday, standing vice chairman of the Central Theoretical Council Phung Huu Phu said that wage and social in-surance reform will be among issues for discussion at the 12th Party Central Committee’s seventh meeting next May.
According to Deputy Prime Minister Vuong Dinh Hue, head of the steering committee for reform of wage, social insurance and incentives for people with meritorious service, the commit-tee has consulted many agencies of the Party, Government and National Assembly, the Supreme People’s Court, the Supreme People’s Procuracy, the International Labor Organization, the World Bank and countries with effective wage and social insurance policies.
Regarding the wage reform, the Party Central Committee has given comments since 2003, but many problems remain unsolved and a resolution has not been passed yet.
Hue said that the scheme must remove inadequacies of the prevailing wage policy.
Wages in the public sector have yet to catch up with the private sector. Wage adjustments are not independent of adjustments of pension and incentives for people with meritorious service, affect sustainability of social insurance, and need to come close to international standards.
One new point is to build two payrolls, one applying to positions and the other to specialist tasks, so as to avoid problems concerning wage payments made according to degrees. Those with high-er skills and higher positions will get higher pays to avoid the other way around like what is hap-pening, according to Hue.
Incomes of State workers will also be based on international practices, with wages accounting for 70% and subsidies no more than 30%. Besides, heads of agencies can use 10% of bonus funds to give staffers additional pay for their excellent performance and have wage funds for ministries and localities to recruit talent.
The scheme will eliminate wage coefficients and instead use absolute figures in the payroll. The minimum wage is the lowest level, and no one can pay lower than that. The minimum wage by the hour is also set, and the State’s interference in the payroll at enterprises is removed.
As for social insurance reform, Hue said only workers having paid social insurance in over ten years can start to get pensions. Those leaving social insurance earlier than ten years can get only the amounts in their accounts.
In addition, higher retirement ages will be applicable as from 2021 with an increase of three months a year until the retirement ages reach 62 for men and 60 for women.
According to the Deputy Prime Minister, if the retirement ages are not raised, the social insurance fund will be exhausted.
Vietnam eyes 9 billion USD in forest product exports
Vietnam’s exports of forest products are expected to reach 9 billion USD in 2018, experts have said.
Reports delivered at a conference in Ho Chi Minh City on March 27 said the country earned 8 billion USD from exporting forest products in 2017, of which 7.7 billion USD was contributed by wood and wooden products.
Representatives from wood enterprises stressed that the 9-billion-USD goal is achievable this year.
Wood processing and export firms were urged to employ measures to ensure balance between demand and supply, towards promoting sustainable development of the wood processing and export sector.
At a recent seminar held in HCM City, experts also said that wood processing and export businesses of Vietnam have opportunities to expand markets and increase export value in the future.
According to Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City Huynh Van Hanh, aside from the strong growth of the domestic property market, global demand for wood furniture and wood items this year are predicted to rise by 3.5 percent and 4 percent, respectively.
Domestic wood enterprises were advised to pay more attention to updating technology, improving manpower quality and management capacity, building their own brands, promoting product quality and boosting support services.
Petrolimex to issue e-invoices from Sunday
Vietnam National Petroleum Group (Petrolimex) will officially issue electronic invoices to replace ordinary paper bills from Sunday. The decision follows the Ministry of Finance’s Circular No 32/2011/TT-BTC, issued on March 14, 2011, guiding the creation, issuance and use of e-invoices for goods and services.
According to Deputy General Director Tran Ngoc Nam, the issuance of electronic invoice will help to effectively make use of the information technology system in production and business activities of the enterprise, ensuring compliance with the trend of the Fourth Industrial Revolution.
Nam, who also heads Petrolimex’s electronic invoice project, said e-invoice was an inevitable trend and contributed to the reduction of printing costs, preservation of data, increase in the transparency of petrol business activity and simplification of administrative procedures, thereby making it convenient for customers.
It would also be easier for the State management agencies to search for information to supervise, Nam said, highlighting that the move would benefit consumers, State and businesses and ensure convenience, safety and accuracy.
Customers can easily access the electronic invoice by receiving the search code via email address or receipt and then visiting the website, www.petrolimex.com.vn, to get the bill.
The e-invoices will be stored in the form of data files that will be kept on Petrolimex’s server for 10 years with back-ups, so there is no fear of the data getting lost or damaged. Instead, it will make it convenient to manage goods and expenses.
To implement the decision, Petrolimex has researched and deployed the project since May 19, 2015, and the solution provider is VNPT-Vinaphone-Dakta joint venture.
Shop Store Vietnam expo opens in HCM City
The first Shop & Store Vietnam, a conference and exhibition on the retail and franchise industry, is being held in HCM City from March 28.
The event has attracted 70 brands from 18 countries and regions, and three international group pavilions from Thailand, Singapore and Japan.
The event, which will also feature conferences on retail and franchise and legal aspects on franchise, provides an opportunity for businesses in retail, franchise and shop fitting to show off their products.
They include franchises like Miniso and Tupperware, King BBQ, Hotpot Story, Khao Lao, Blackball, Chabayom, SIC, Renmi, Nishio and others.
The event also showcases new technologies in retail business, including retail devices and digital signage solutions.
There will be demonstrations of ‘Cashless Showcase’ and 3D holograms and a ‘smart shopping’ competition.
The organiser, Reed Tradex, has collaborated with Miniso and Ibox/2can to launch the “SSV CashlessPay” application for exhibitors and visitors to practically experience “cashless” transactions to make shopping more convenient.
The event is being held at the Saigon Exhibition and Convention Centre in District 7.
Vinpearl opens luxury condotel in Nha Trang
Vinpearl on Monday (March 26) opened the five-star Vinpearl Nha Trang Empire condotel.
It is 40 stories tall and has over 1,221 rooms and other facilities.
It has been built atop the Vincom Plaza mall, which opened last December.
It is Vinpearl’s 18th hotel.
Hanoi’s CPI drops 0.22 percent in March
The consumer price index of Hanoi in March declined 0.22 percent over the previous month but increased 2.7 percent over the same period last year.
Major reason for the drop is a reduction in prices of three goods groups – food and catering services; housing, electricity, fuel and construction materials; and transportation.
Lower demand after the traditional New Year festival in February and warmer weather with abundant supply of farm produce pulled the prices of food and foodstuff down. Meanwhile, lower gas prices also led to a fall in the prices of housing, electricity, fuel and construction materials.
A fuel price cut also made the price of transportation lower.
The average index in the first three months of this year rose 2.54 percent over the same period last year. An upturn was seen in 10 groups of goods and the only one experienced a fall.
Import-export revenue surges nearly 37 percent in March
Total import-export revenue of Vietnam is estimated at 38.8 billion USD, a surge of 36.8 percent over the previous month, according to the General Department of Vietnam Customs.
Of the figure, exports are calculated to reach 19.8 billion USD, a rise of 38.2 percent month on month, while imports are valued at 19 billion USD, up 35.4 percent over February.
In the first three months of this year, total import-export revenue is likely to hit 107.32 billion USD, up 17.7 percent year on year, including exports of 54.31 billion USD and imports of 53 billion USD.
Export value of garment and textile is estimated at 6.3 billion USD, a year-on-year increase of 12.9 percent, while that of computers, electronic products and spare parts is about 6.29 billion USD, footwear 3.45 billion USD, wood and wooden products is 1.91 billion USD.
Meanwhile, earnings from aquatic products are 1.67 billion USD, up 11.2 percent, and coffee export revenue is 989 million USD, a drop of 3.7 percent over the same period last year.
At the same time, imports of computers, electronic products and spare parts in the first three months of this year are likely to reach 10.33 billion USD, a surge of 30.2 percent over the same period last year.
A year-on-year drop of 4.3 percent was seen in imports of machines, tools and equipment to 7.37 billion USD. The country imported over 3.51 million tonnes of petrol for 2.2 billion USD, up 20.1 percent in volume and 37.1 percent in value.
Vietnam is estimated to enjoy trade surplus of about 800 million USD in March and 1.3 billion USD in three months.
Technology application—a new trend in HR training ahead of CPTPP
Amidst growing demand for qualified manpower among domestic and foreign-invested enterprises (FIEs), technology applications in human resources training are predicted to become a popular trend in Vietnam ahead of the enforcement of the Comprehensive and Progressive Pacific Partnership (CPTPP).
For years, a shortfall of skilled workforce has remained a thorny issue for both domestic and FIEs in Vietnam. As shown in the Provincial Competitiveness Index (PCI) 2017, only 31 per cent of nearly 1,800 FIEs are satisfied with the labour quality in Vietnam.
The Vietnamese workforce over the age of 15 is 53.5 million strong, but only 9.99 million people or 18.6 per cent are skilled workers, meaning unskilled workers make up 81.4 per cent of the country’s total workforce.
The local workforce also lacks many necessary skills, like problem solving, IT, especially foreign language skills, and adaptability. Moreover, the levels of innovation and creativity among skilled local employees are still low.
Looking at the competitiveness of businesses in Vietnam, it is easy to see how low quality workforce bridles the GDP growth rate. Every year, Vietnam’s labour productivity increases by 3 per cent on average, while GDP expands at around 5 per cent.
According to the General Statistics Office, Vietnam’s labour productivity is even lower than Laos and Cambodia, and just one tenth of Singapore.
In 2017, Vietnam’s labour productivity was estimated at VND93.2 million ($4,159) per labourer. This figure is equal to 7 per cent of Singapore and 17.6 per cent of Malaysia. Singapore and Malaysia are also two member countries of the CPTPP.
As enterprises continue to expand business and investment activities in the country, demand for qualified manpower grows more significantly than ever. However, improving labour quality in a cost-saving and effective manner is a big concern.
At present, each Vietnamese firm spends around VND400,000 ($18.18) each year training an employee on average.
Meanwhile, Angeline Teo, director of dOz International (Singapore), said that businesses that are thought to be successful in human resources development must spend 8 per cent of their revenues on such purposes.
Vietnam is home to more than 500,000 enterprises, but over 90 per cent do not have their own internal training management system.
According to experts, e-learning would be an optimal choice for businesses to improve their human resources quality and save on training costs.
In developed countries, businesses focus on the application of high-tech solutions in training. The Industry 4.0 has resulted in the rapid development of e-learning, while cloud computing technology helps save costs and proves more efficient than traditional training methods.
In Vietnam, technology solutions for e-training remain in the early stages of development with only a handful of suppliers.
One of the famous brands is Huong Viet Group, which has ten years of experience in technology solutions for education and training with CLS.vn (Cloud Learning System)—the modules for training management based on a cloud system.
CLS-Cloud Learning System (cls.vn) has proved to be a reasonable solution for smaller businesses as it is very cost-effective and easy to use.
It is estimated that with CLS businesses can reduce 75 per cent of training costs and save 95 per cent of training time and 100 per cent of housing and travelling costs for trainers and trainees, thus helping businesses increase operational efficiency by 2.5 times and triple labour productivity.
With a cheap cost (less than 10 per cent of foreign-developed technology solutions), CLS brings in an advanced internal training system for domestic and foreign-invested enterprises, with standards equal to those of developed markets. CLS is predicted to become the driving force of the e-learning market in Vietnam.
“In globalisation and global integration, improving the quality of workforce is the key to increase competitiveness,” said Tran Van Ba, deputy director of Huong Viet Group.
Currently, CLS is being applied at 500 businesses throughout the country, ranging from distribution, retail, and services to education.
In the technology era, Vietnamese firms can only stand firm if they pay due attention to applying technology in human resources training. If they fail to make changes, they might fall behind or be gobbled up, leaving the playground for FIEs to benefit from the CPTPP.
According to a new World Bank report, the CPTPP will bring direct economic benefits to Vietnam. The CPTPP, along with other multilateral trade agreements, is expected to further boost investment in Vietnam through its export-driven growth model.
The World Bank estimated that the CPTPP would lead to an increase of 1.1 per cent in Vietnam’s GDP by 2030, which could rise to 3.5 per cent given a modest boost to productivity.
All income groups in Vietnam are expected to benefit from this new trade deal, and highly-skilled workers may reap the most benefits.
State Audit of Vietnam becomes ASOSAI Chair for 2018-2021
The State Audit of Vietnam (SAV) will become the Chair of the Asian Organisation of Supreme Audit Institutions (ASOSAI) for the 2018-2021 tenure and will also serve as a member of the ASOSAI Governing Board for three consecutive terms (2015-2024).
The State Auditor General of Vietnam Ho Duc Phoc made the announcement at a press conference in Hanoi on March 28.
The 14th ASOSAI Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI 14) is set to take place in Hanoi from September 19-22 in Hanoi with the participation of 350 delegates from 46 ASOSAI members.
The political and diplomatic event provides a chance for the SAV to learn from and acquire knowledge and international experience and utilise potential resources from ASOSAI and its members to improve the operational efficiency. It affirms the SAV’s role and position among ASOSAI’s members and regional and international organisations, helping to elevate its stature to a new height, Phoc said.
According to the Auditor General, the theme of “Environmental Audit for Sustainable Development” at this year’s assembly is also one of the important topics of the agenda, reflecting the commitments, efforts, and practical contributions of the ASOSAI community to pursuing the UN sustainable development goals (SDGs) and dealing with global environment challenges.
Following the theme, ASOSAI members will deliver reports on challenges, experiences, and solutions to effectively perform environmental audit functions with the aim of meeting SDGs. The outcomes of the 14th ASOSAI assembly are expected to contribute to fine-tuning auditing guidelines, procedures, and standards to meet SDGs among member nations.
At the press conference, the organizing board also gave a presentation on the Assembly’s Corporation Identify Program (CIP), which is seen as an effective promotional tool for the 14th ASOSAI Assembly with distinctive features and characteristics different from the previous meetings of this kind and other events.
The CIP helps the ASOSAI community domestic and foreign organizations, delegates, and individuals, come away with strong and positive impressions of the international event, ASOSAI, and the SAV.
The design of the CIP is inspired by the country’s unique historical and cultural relics and the theme of 14th ASOSAI Assembly. The main parts of the CIP include a logo and visual communication tools.
Coffee city project underway in Dak Lak
The Trung Nguyen Legend Group are developing a coffee-themed project in the Central Highlands province of Dak Lak.
Trung Nguyen Legend Group on March 28 inaugurated the welcoming gate of the coffee city project which covers 45.45 hectares in Buon Ma Thuot City.
The project includes an international coffee museum, houses, shopping centre, parks, schools and healthcare services. The coffee museum, which will display more than 10,000 coffee-related objects, is expected to enter operation this November.
The site is intended to home around 5,000 people. Most of trees in the city will be coffee.
Most of the project’s items have been scheduled to be completed by late 2020.
The project, which has been delayed for many years, has a total investment of more than VND2 trillion (USD90,9 million).
Hyundai Tan Phu plant under inspection
The Inspectorate of Ba Ria-Vung Tau province will conduct an inspection on licensing and revocation of the investment certificate of the Hyundai Tan Phu producing and assembly plant located in Phu My 1 Industrial Park in Tan Thanh district.
The decision came when the investor, which is a joint venture between Tan Phu JSC and Hyundai Group, continuously sent the documents to the local authorities to protest about its investment certificate being revoked in 2016.
In March 2011, the Ba Ria-Vung Tau People’s Committee granted an investment certificate for Hyundai Tan Phu to develop a mini bus and truck production factory with the total investment capital of $40 million. The factory has a designed capacity of 20,000 mini buses and 30,000 trucks per year. The construction of the project was expected to kick off in May 2011 and completed one year later.
However, the construction pace could not match the schedule. Even, when the investment certificate expired after delays in project development, the investor had yet to refresh the workshop leasing contract or submit the dossiers for a new investment certificate.
Ba Ria-Vung Tau asked the investor to sign the contract and complete procedures for the new investment certificate before May 2016, otherwise the province would revoke the project and transfer it to other investors.
As a result, the province issued the decision to withdraw the project because the investor missed the deadline to submit these dosseirs..
However, after receiving the decision to revoke the project, the investor has sent documents to the local authorities complaining that it still wants to develop the project and that the long delay in construction is due to a lack of support from the local industrial park board of management.
Notably, after receiving the investment certificate and the land, the investor spent VND40 billion ($1.75 million) developing infrastructure for the factory.
Besides, the company completed its tax obligations. However, during 2015-2016, the investor asked the management board to guide it to sign the contract but they refused to meet the investor.
Furthermore, the management board did not approve the investor’s desire to develop the project.
The investor sent complaints to the relevant government agencies after the province did not entertain its opinion.
Last June, after receiving the requests of the Government Office to report on the process of licensing and revoking the investment certificate, Ba Ria-Vung Tau asked the inspectorate of the province to conduct an inspection.
In April 2016, the Nhon Hoi Economic Zone Management Authority in the central province of Binh Dinh decided to revoke the investment certificate of a long-delayed Russian automobile project.
The project had the registered investment capital of $1 billion and was licensed three years ago, but was yet to get underway.
Russia’s Buscenter Met Company Ltd. planned to establish a 50-hectare factory in the zone to manufacture and assemble automotive parts and agricultural machinery.
Environmental tact appears in Vietnamese living space
Green living space, the latest trend in the real estate development sector, has been adopted by some of the leading property developers in the country, including Vingroup, Gamuda Land, and Sun Group, offering an environment-friendly lifestyle to residents in the urban areas of Ho Chi Minh City and Hanoi.
Over the past decade, an increasing number of real estate projects have been advertised with the keyword “green” as a core concept, signalling an all-about-the-ecosystem mindset among the residents of apartment complexes.
Addressing the trendy sustainable lifestyle, Luk Ban La, vice president of Phuc Khang Investment & Construction Corporation, asserted that, “Residents in the business hub of Ho Chi Minh City, especially Vietnamese immigrants returning to their homeland, crave green living spaces, which allowed us to embrace a more sustainable lifestyle while keeping their ancestors’ cultural values at the heart of our projects.”
As a result, Phuc Khang was reported to integrate both modern and traditional living concepts into its real estate development projects, such as Ecovillage and Ecotown.
In order to comply with this new benchmark, Phuc Khang set to pioneer the construction of green living spaces with sustainable humanitarian values which Phuc Khang and Mitsubishi Corporation shared.
Previously, with the target of developing the LEED-certified Diamond Lotus project, Phuc Khang Mitsubishi Corporation Holding (PKMC) was created in late 2017 with $30 million charter capital, 49 per cent of which belonged to Mitsubishi and 51 per cent to Phuc Khang.
Additionally, multisectoral giant Vingroup had four real estate projects, namely Vinhomes Riverside, Vinhomes Times City-Park Hill, and Vinhomes Imperia in Hanoi and Vinhomes Central Park in Ho Chi Minh City, rated as the top four most worthy living spaces in Vietnam by VIR readers.
Le Khac Hiep, vice president of Vingroup, stated that, “The group committed to offer a more optimal living space, one that is mindful of the ecosystem and customer-centric to accommodate discerning citizens of the future green-living society.”
Seizing a spot in the top 20 projects setting “A new benchmark for living space” rated by VIR readers, Wyeren Yap Vooi Soon, general director of Gamuda Land, noted that, “The group aimed at delivering a smart and harmonious living space to its customers, commtting to a green coverage of 16 hectares at its real estate projects with the intent to create the most satisfactory residential experiences in Vietnam.”
Leadership in Energy and Environmental Design (LEED), put forth and developed by the US Green Building Council, is a set of rating systems for the design, construction, operation, and maintenance of green buildings which emerged in the core concept of multiple real estate projects across progressive countries.
- Strivers’ Row Project Puts Black-Owned Businesses First
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- Daily Business Report-Sept. 26, 2018, San Diego Metro Magazine
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- POLICE BRIEFS: Speeding truck eludes police, burglary reported at local business


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- Internet dating are a rapidly raising sector.
- Hinge can boost fit party’s sales increases within the next several years.
- The business have best-in-class profitability.
The very last year being difficult for high-growth shares. Despite the reality they’re setting up impressive money increases and profitability, a lot of companies have observed her display rates .
For long-lasting investors, these cost falls can provide an opportunity to scoop upwards offers in top-notch people for a cheap price. Fit party (NASDAQ:MTCH) suits this classification to a T. The selection of online dating sites homes put up strong gains data again in 2021, but as of this crafting, its inventory was down 32percent within the last few 12 months.
1. a long lasting sector tailwind
Complement party’s opportunity stems from the long lasting tailwind this is the online dating sites market. The number of online dating sites consumers inside the U.S. has exploded from best 28.9 million in 2017 to approximately 49 million in 2021. Based on a survey, merely 36per cent of individuals aged 18 to 29 in the United States used a dating app.
Plenty of folks are currently in enchanting connections, so this quantity will not ever attain 100percent, but there seems to be a stronger number of bluish sea development leftover for fit party commit after. Globally, internet dating is probable in actually early in the day stages, since the most of these services were only available in the U.S.
The firm has brought advantageous asset of this rising tide. From 2017 through 2021, Match team became the earnings at a substance annual rate of growth (CAGR) of 22percent while maintaining stellar modified running margins of 35% or higher each and every year. This will be in spite of the major headwinds it’s got endured over the past 2 years because of the worldwide pandemic, which has damage the entire dating market internationally, with lots of men reluctant to see other people in person. Asian industries like Japan happen specially tough people while in the pandemic, according to management.
If you’ren’t conscious, fit Group owns the majority of online dating characteristics around the world. Included in these are the dominant dating software Tinder (the software makes up over 50percent of fit Group’s sales immediately); fast-growing apps like Hinge, BLK, and Chispa; and elderly treatments like complement and OkCupid.
Of course, if you are concerned about competition, you shouldn’t be. The only real scaled opponents were Bumble (NASDAQ:BMBL) , which has the popular programs Bumble and Badoo, and Grindr, which concentrates on providing the LGBTQ community. Yes, additional upstarts could arise eventually, but as of now, a great deal of buyers spending on online dating should flowing to complement party.
2. there is area for margin development
As stated, Match class keeps extremely strong profit margins, at 36percent a year ago even after such as its latest purchase of Hyperconnect, which will be running at break-even gross margins now.
Lasting, traders should expect these profit margins to continue inching upwards. For just one, as soon as Hyperconnect grows, it will not be a drag on complement party’s total margins. However in basic, online dating applications are incredibly asset-light, leading to extremely high progressive margins on every dollar spent by buyers. An individual purchases an incremental “Super Like” or a registration on Tinder or Hinge, the particular cost of that solution for fit cluster rounds down to zero, because digital infrastructure has already been create.
Provided fit cluster can maintain steadily its product sales and marketing and advertising spending and doesn’t choose to speed up the growth investments (that wouldn’t always feel a negative thing), the business’s adjusted functioning margin should get above 40per cent within the next three to five ages. If profits keeps growing at 20percent in addition to this margin development, which will be nice thing about it for Match cluster shareholders.
3. an explosion in gains at Hinge
A big need buyers should always be positive about Match party’s potential profits increases may be the volatile development over at Hinge. The relationship-focused matchmaking app above doubled its sales in 2021 to $197 million while the team finally began monetizing the consumer base in america along with other English-speaking industries.
It’s still early days for the item, but management says it really is on speed becoming the second-most prominent dating software around the globe within a few years’ times, surpassing opponent Bumble. Relating to Match people’s Q4 2021 page to investors, Hinge downloading expidited within the last few part of 2021, that’ll ideally cause much more strong income development in 2022.
Hinge happens to be only prominent in English-speaking areas, a deliberate decision by complement Group, as it refined this product. Over the next several years, Hinge is actually thinking about generating a big push worldwide. This may ideally propel Hinge to deeper heights for complement Group within the next 3 to 5 many years.
4. Potentially lower smartphone app shop fees
Lastly, fit Group will benefit from any decrease in cellular application store charges at yahoo and Apple. This is simply not Fresno escort twitter necessary for complement class become a investment during the after that ten years but might be a good cherry on top. Whenever anybody decides to buy something on an online internet dating software, complement party is required to promote 15per cent to 30per cent associated with the cash to either fruit or Bing. This makes in the most of fit people’s cost of earnings, which reduces the company’s gross margin to 72per cent, whenever it likely is above 90per cent without them.
Around the world, app store fees include under some pressure from governments, and is feasible app store fees is going to be legislated reduced in many industries. Every dollar Match team doesn’t have to pay for for the mobile software shop are a buck produced in profits. Truly impractical to anticipate just what will occur using these app store charges, in case they become regulated reduced, that will be nice thing about it for Match team shareholders.

domain: news


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Proximity scoops Clearblue digital
Clearblue, the pregnancy and fertility products brand, has appointed Proximity London to handle its global digital account.
The brand is operated by Swiss Precision Diagnostics, which is part-owned by Procter & Gamble. It hired Proximity after a two-month pitch process.
Valeria Consorte, the design marketing associate director at Swiss Precision Diagnostics, handled the process. The Proximity pitch team was led by its new deputy managing director and chief innovation officer, Gabrielle Moss.
The account was previously held by Arc, the Leo Burnett-owned shop. Leo Burnett Group will remain Clearblue's global ad agency.
Consorte said: "Proximity demonstrated real expertise and a passion for marketing to women in the digital space."
Mike Dodds, the Proximity chief executive, said: "This win perfectly complements a number of other brands we have that speak to women."Follow @SaraKimberley
This article was first published on campaignlive.co.uk
- Affiliates Executive - No. 1 Agency! GoodEgg Digital Circa £25k + Exceptional Benefits, Central London
- Digital Display Manager - Leading Agency GoodEgg Digital £Neg + Great Benefits, South East England / London (Central), London (Greater)
- Senior Marketing Director - 9-12 month FTC Comedy Central £competitive, Camden, London (Greater)
- Marketing Manager Ball & Hoolahan £60,000 + Car/Car Allowance, London (Greater)
- Web Manager Direct Recruitment £40,000 - £45,000, London
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- Notonthehighstreet.com launches brand campaign
- Publicis boss Maurice Lévy to step down in 2017 amid board shake-up
- 18 Feet & Rising wins Skoda digital brief


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Another sluggish for the Japanese market in 2008
2008 will be another gloomy year for the Japanese automative market as the Japan Automobile Manufacturers Association has forecasted a 1.2% decrease. The market will likely record its 26-year low with 5,383,700 vehicles.
Surprisingly, the Kei car market will suffer the most with a 2% decrease to 1,892,000 vehicles while bigger vehicles included trucks and buses will slow down by 0.8% to 3,427,000 vehicles.
The decrease is, of course, linked to the recent higher oil prices but also to the crisis that has lasted for the last sixteen years. Also young Japanese people are less interested in cars than their parents and don't see a car as a sign of wealth, especially in larger cities.
Japanese car makers plan to fight the sluggish environment by releasing more new models, but there is a few chance it will reverse the current order.


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Whoever runs the McDonald's corporate Twitter account had a pretty embarrassing Black Friday, as all of Twitter spent their time in check-out lines roasting them for a viral mistake. Late on Thursday night, McDonald's sent out an incomplete tweet.
Black Friday **** Need copy and link****— McDonald's (@McDonaldsCorp) November 24, 2017
The Internet did what it does best -- creating a joke and then beating it to death. Within 24 hours, everyone had taken a shot at the burger chain, from celebrities to journalists to other burger chains.
When the tweets are as broken as the ice cream machine. https://t.co/esdndK1iFm— Wendy's (@Wendys) November 24, 2017
Of course, managing a high-profile social media account isn't such an uncommon job anymore, so there were plenty of people sympathizing with the errant tweeter.
Social media managers reading this tweet pic.twitter.com/38cwM4wdNR— Matt Navarra (@MattNavarra) November 24, 2017
someone's not paying their marketing interns— the great british very fake-off (@VeryFakePhil) November 24, 2017
This will probably get more awareness than their originally planned tweet...— Musa Tariq (@MusaTariq) November 24, 2017
In the end, McDonald's recognized the incontrovertible law of the universe: you have to laugh at yourself. They made their own response later in the afternoon:
When you tweet before your first cup of McCafé… Nothing comes before coffee. pic.twitter.com/aPJ2ZupS9b— McDonald's (@McDonaldsCorp) November 24, 2017


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Fans Nationwide Get “All Access” with First Ever Online Concert Broadcast from Alcatraz Island
Bellevue, Wash. — Sep. 5, 2003
T-Mobile USA announces the “T-Mobile ALL ACCESS” concert experience with Barenaked Ladies and Train on October 16 on the famous island of Alcatraz, part of the Golden Gate National Recreation Area. Through radio promotions and online sweepstakes, fans from across the country will have the chance to win ‘All Access’ trips and Get More From Life® with T-Mobile special guests at an unforgettable, one-night-only exclusive concert event. In addition, fans from around the world will have the opportunity to watch the concert live on www.t-mobile.com and at AOL® Keyword: tmobileallaccess. The event marks T-Mobile’s return to the historic island – the scene of its nationwide kick off event last year, when T-Mobile launched its brand in the U.S. and its Get More® promise became synonymous with innovative, one-of-a-kind products, features and services.
The announcement was made last night during five simultaneous “T-Mobile ALL ACCESS” concert events which brought music fans five-concerts, in five-cities, all on one night. Major participating performers included Ashanti (New York), Jason Mraz (Chicago), Fuel (Philadelphia), LIVE (Dallas) and 311 (Los Angeles). Fans all over the world had “All Access” to watch the five concerts and hear the “T-Mobile ALL ACCESS Alcatraz” announcement in the first ever simultaneous online broadcast event at www.t-mobile.com and AOL Keyword: tmobileallaccess, in partnership with Samsung mobile phones. Clear Channel Entertainment produced the five simultaneous concerts and will be producing the upcoming event on Alcatraz Island. The five concerts are available online in conjunction with America Online.
Lucky winners from across the country will be awarded exclusive passes to the “T-Mobile ALL ACCESS” Alcatraz experience through a variety of fun and spontaneous giveaways. Fans can register to win tickets online at www.t-mobile.com and AOL Keyword: tmobileallaccess. Clear Channel Entertainment will be promoting the event with a series of on air promotions and give aways in more than 25 major U.S. markets. Additionally, existing T-Mobile post paid customers Get More® chances to win through a ‘customers only’ text message sweepstakes by submitting text messages to ROCK (7625). Another example of T-Mobile’s get more® commitment, prize winners and a guest will receive access to the event, roundtrip airfare, hotel accommodations, and transportation transfers to the hotel and Alcatraz Island. Finally, the ‘T-Mobile ALL ACCESS” HotSpot Patrol will be visiting select Starbuck’s coffeehouses and Borders Books and Music locations in San Francisco to spontaneously and randomly award tickets to customers who are using T-Mobile’s HotSpot ‘Wi-Fi’ (802.11b) service.
“The ‘T-Mobile ALL ACCESS’ concert on Alcatraz is the perfect signature event to demonstrate T-Mobile’s leadership in delivering innovative features and services that help our customers Get More From Life,” said John Clelland, senior vice president of Marketing for T-Mobile USA. “T-Mobile broke out its Get More® service offering in the U.S. just over a year ago and now delivers over eleven million customers the best value in wireless service.”
In conjunction with the “T-Mobile ALL ACCESS” Alcatraz experience, T-Mobile subscribers can sign up to receive special artist trivia alerts and downloadable content available exclusively through T-Mobile. Subscribers with t-zonessm enabled phones can download a variety of MegaTones™ and wallpaper for both of the participating artists In addition, t-zonessm customers can download and play the “All Access” game, a challenging platform-style game created specifically for this promotion.
Consistent with T-Mobile’s Get More® promise, concert fans not able to attend in person can watch the performances in ‘real time’ via a live web cast at www.t-mobile.com and AOL Keyword: tmobileallaccess as part of the partnership with AOL Music. While most anyone with a high speed Internet connection can access the online concert, subscribers of T-Mobile HotSpot “WiFi” broadband wireless Internet service can use their “WiFi” enabled laptop to enjoy the live web cast at over 2,700 convenient public locations including Starbucks coffeehouses, Borders Books and Music and numerous airport locations across the country.
T-Mobile USA Media Relations
About T-Mobile USA, Inc.
Based in Bellevue, Wash., T-Mobile USA, Inc. is the U.S. wireless operation of Deutsche Telekom AG. By the end of the first quarter of 2010, approximately 150 million mobile customers were served by the mobile communication segments of the Deutsche Telekom group – 33.7 million by T-Mobile USA – all via a common technology platform based on GSM and UMTS, the world’s most widely used digital wireless standards. T-Mobile USA’s innovative wireless products and services help empower people to connect to those who matter most. Multiple independent research studies continue to rank T-Mobile among the highest in numerous regions throughout the U.S. in wireless customer care and call quality. For more information, please visit http://www.T-Mobile.com. T-Mobile is a federally registered trademark of Deutsche Telekom AG.
About T-Mobile Concert Performers
Taking their name from a childhood slang term for a naked woman, the Barenaked Ladies are from Scarborough (near Toronto, Canada) and were formed in 1988. Their 1992 debut album, Gordon, subsequently sold more than half a million copies in their native Canada. The band released their 7th CD Maroon in 2000 and over the years have released several others including Stunt (1998); Rock Spectacle [ECD] (1997); Shoe Box EP (1996); Born on a Pirate Ship [ECD] (1996); Maybe You Should Drive (1994). Their next CD, Behold will be released in 2003. For more information, visit www.bnlmusic.com.
Grammy-winning artists Train released their third album, My Private Nation this past June. Train exploded onto the music scene when Drops of Jupiter arrived in March 2001. Its title track, “Drops of Jupiter (Tell Me),” was already a hit on several Billboard charts. By June, Drops of Jupiter was RIAA-certified platinum. By April 2002, the single had spent a total of 53 weeks of the Hot 100. For more information visit www.trainline.com.
About Clear Channel Entertainment
Clear Channel Entertainment, a leading producer and marketer of live entertainment events is a subsidiary of Clear Channel Worldwide (NYSE: CCU), a global leader in the away-from-home advertising industry. Clear Channel Entertainment currently owns, operates and/or exclusively books approximately 130 live entertainment venues, including more than 100 in North America and 30 in Europe. In 2002, more than 65 million people attended approximately 29,000 events promoted and/or produced by the company, including: Live music events; Broadway, West End and touring theatrical shows; family entertainment shows; and specialized sports and motor sports events. The company, which operates throughout North America, Europe, South America and Australia, also owns independently operated athlete representation businesses, which provide management, marketing and financial consulting services to many of the world’s top professional athletes. More information may be found by visiting www.clearchannel.com.
About America Online, Inc.
America Online, Inc. is a wholly owned subsidiary of AOL Time Warner Inc. (NYSE: AOL). Based in Dulles, Virginia, America Online is the world’s leader in interactive services, Web brands, Internet technologies and e-commerce services.


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The release of the highly requested physical copies of “Rocket League” for the Nintendo Switch was recently confirmed and will happen early next year.
In a recent announcement, developer Psyonix confirmed that they will be selling physical copies of the game in January 2018 in various schedules for different regions around the world. It also provided the exact release dates per country so Nintendo Switch owners can now set an alarm on when to pay their local retailer a visit.
The earliest release will happen in North America on Tuesday, Jan. 16. Switch players in Australia and New Zealand are getting the product on Wednesday, Jan. 24, followed by a launch in Central Europe on Thursday, Jan. 25.
Lastly, “Rocket League” fans in other parts of Europe, Israel, Middle East, Russia, and South Africa are getting the game’s physical copies on Friday, Jan. 26.
Psyonix also reminded players in Europe to contact their go-to video game retailers and confirm the availability of the “Rocket League” physical copies.
Meanwhile, Psyonix addressed why the “Rocket League” physical copies for the Nintendo Switch were priced higher by $10 compared to what it cost on other consoles. The company explained: “As much as we tried to keep the retail price down, the reality of the Switch’s increased cartridge manufacturing costs meant that the MSRP had to be higher as well.”
However, it is important to note that the physical copy of the game will be released as a Collector’s Edition, which costs $39.99. On the plus side, it contains all of the downloadable contents released on the PlayStation 4 and Xbox One versions of the game. So, apart from the base game, Switch players will also receive the DLC cars, namely the Aftershock, Marauder, Esper, and Masamune.
Aside from the exclusive Super Mario-themed car, Switch players will be getting the car designed after DC Comics’ “The Flash.” The Collector’s Edition also comes with the Supersonic Fury and Revenge of the Battle-Cars DLC packs as well as the limited-edition cover art.


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The next Google-designed Nexus phone will probably feature rear or side-mounted controls and a Nikon camera, the latest rumors suggest.
The Phone Arena
published images and specs of what is reportedly the next Nexus-branded Google smartphone. It has a 5-inch HD display and digital camera technology courtesy of Nikon. The camera will carry the Japanese photography company's branding and is rumored to use 'triple image sensor' technology.
The Nexus 5 is expected to be revealed at Google's annual I/O Conference in May and will also reportedly be the first smart device in the world to come with Key Lime Pie -- version 5.0 of the Android operating system. The same source claims the phone will have touch sensors integrated not o the phone's screen but into the bezel around the display or into its rear panel. This claim is also supported by a recent patent application from Google for backside controls on smartphones and tablets.
The new handset is also reported to come with either 8 or 16GB of storage and 2GB of RAM. The internal specifications suggest that this handset could be based on the Japanese version of the LG Optimus G Pro. Google's latest Nexus phone was based on the LG Optimus handset.
The new handset could be Google's response to the Samsung Galaxy SIV device, which comes packed full of native apps and Samsung-specific features, showing off Samsung's ability
to leverage the Android bones to make a stronger overall device that is bigger than its parts.


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GoIP Global, provider of mobile media services, specializing in connecting brands, enterprises, and local businesses with consumers, has announced that it has unveiled the company’s GO800 and GOBOX service applications at SXSW (News - Alert) (South by Southwest) this past weekend, the annual event in Austin, Texas.
Giving the details about Go800 service to the attendees, company officials said that for the first 90 days, the service will be enabling voice capabilities for Twitter users.
Following a first come, first serve allotment, registration will be opened to other social networks. Go800 will allow anyone to text a person’s Go800-enabled Twitter name and be connected live without knowing or dialing a phone number. Twitter users across the United States and Canada can register and use the service on the Go800 platform at www.go800corp.com.
Go800 announced that users abroad will be able to reserve their Twitter name for future use with the service. Go800 Starter accounts will be free and will come along with 100 free minutes of usage per month. Higher usage plans are expected to be added soon.
Also, GOBOX is displayed in Mashery's (News - Alert) Suite at SXSW and is being introduced to developers. GOBOX offers an online service for consumers' personal cloud storage and is live at www.gobox.com, offering users to sign up easily. GOBOX's API is available to developers targeting Mashery's network of 95,000 developers. GOBOX's initial goal is to have hundreds of developers using and integrating GOBOX into their online services.
Ike Sutton, CEO of GoIP, commented, "SXSW INTERACTIVE represents Mobile Media Products from industry leaders and new upcoming entrepreneurs. The huge attendance and ongoing publicity shows the growing importance of Mobile Interaction in our lives and productivity.”
Sutton added that GO800 and GOBOX have been created with this vision and will be improved to adapt to this growing technology and they also see tremendous potential in their adaptation in the coming months.
“At GoIP we continue to lead in innovation and continue to seek new products that compliment and expand our Mobile Media presence. To hear more about SXSW text GOIG to 46800," Sutton concluded.
Go800 also offers easily customizable and secure privacy options to protect the identity of customers and their phone numbers. The many privacy options include allowing everyone to contact the user using their Twitter name, turning the service off completely, or only allowing access to trusted contacts via this method. It also enables users to report abuse directly to the Go800 team on its website.
Jyothi Shanbhag is a contributing editor for TMCnet. To read more of Jyothi's articles, please visit her columnist page.
Edited by Janice McDuffee


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The mountains of used plastic bottles at a recycling station in Taipei emit a faint smell of garbage, but soon they will be turned into wigs and clothes that people will wear.
From fake hair to soccer jerseys and building bricks, Taiwan is breathing new life into its massive plastics waste, creating a booming new business at the same time as it aims to go green.
The country started recycling plastic more than a decade ago amid growing environmental concerns, and today it boasts about 73 percent recycling rates, according to the Environmental Protection Administration.
PHOTO: PATRICK LIN, AFP
Last year, about 180,000 tonnes of used plastic were collected and turned into raw materials worth NT$4.5 billion (US$140 million), which cut down garbage disposal costs and carbon dioxide emissions, it said.
“Recycled plastics can be made into many products such as garments, flower pots, wigs and zippers,” said Ma Nien-ho (馬念和), a spokesman for the agency’s recycling fund management board.
“We are not only protecting the environment, but also making money,” he said.
Taiwan took pride in the so-called “eco-fabric” that was used by local companies to make the jerseys for nine teams competing in the recent soccer World Cup in South Africa. Each jersey, made from eight plastic bottles melted and processed into polyester, is 13 percent lighter than traditional fabric and can absorb and disperse sweat more quickly, the Taiwan Textile Research Institute said.
“The production process is also more environmentally friendly as it takes less water and energy to dye the shirts when using colored bottles,” said Alex Lo (羅忠祐), managing director of Super Textile Corp.
Super Textile, a leading Taiwanese maker of eco-fabric, started exporting to the US and Japan in recent years, which gave a boost of up to 10 percent to its business, Lo said.
“The response has been much warmer in the past two years due to rising awareness of global warming and fluctuating cotton prices,” Lo said. “We are optimistic that the World Cup publicity will help stir up more demand.”
Taiwan, which consumes about 4.5 billion plastic bottles annually, is seen as having an advantage in manufacturing eco-textiles because of lower transportation and recycling costs.
The Buddhist Compassion Relief Tzu Chi Foundation, one of the country’s largest charity groups, runs 4,500 recycling stations across Taiwan with the help of about 70,000 volunteers who collected 12,000 tonnes of used bottles last year.
The foundation has distributed more than 300,000 blankets made from plastic bottles since 2007 for relief uses at home and abroad, it said.
And perhaps in the near future houses built from recycled plastic bottles will mushroom across the island after “Eco Ark,” the world’s first such building, is unveiled in November.
“Eco Ark” — a three-story, 24m-high exhibition hall scheduled to debut at the Taipei International Floral Expo, is built from 1.5 million recycled plastic bottles and cost NT$300 million.
“The bottles are processed to make bricks that can resist earthquakes, wind and fire while providing the building with natural lighting to save electricity,” its architect, Arthur Huang, said.
“The ‘polli-bricks’ are also less expensive than conventional materials like wood and glass so the construction cost is much lower,” he said.
Huang said his firm was building a luxury boutique hotel and several factories and corporate buildings with the bricks.
“Just imagine if we can replace all the steel roofs in the buildings in Taipei with light transparent polli-bricks. That would make the city look more beautiful,” he said.
A Taipei veterinarian is urging pet owners to avoid using insecticides around their homes, as their ingredients can be toxic to pets. Commercial-grade insecticides contain pyrethroids — organic compounds similar to natural pyrethrins, pesticides produced by flowers such as chrysanthemums — in quantities that are harmless to humans, but potentially fatal to cats and dogs, Asian Veterinary Specialist Referral Center veterinarian Chua Man-ling (蔡曼琳) said. Even in small quantities, pyrethroids are hazardous to cats, as they lack the metabolic enzymes needed to process them, Chua said. Cockroach sprays and ant traps are especially dangerous to pets as they contain boric acid, she
People should avoid eating too many zongzi (粽子, glutinous rice wrapped in bamboo leaves), as consuming several in one meal could cause indigestion, bloating, gastric acid reflux, heartburn and other stomach ailments, a doctor said on Saturday. Zongzi is a traditional delicacy for the Dragon Boat Festival, which was on Thursday. Citing a recent case as an example, Cathay General Hospital gastroenterology department head Chu Yu-ming (朱淯銘) said that a 58-year-old taxi driver surnamed Hsiao (蕭) ate meals at irregular hours due to his work and has been taking diabetes medicine for three years. Hsiao recently bought a bag of zongzi and ate
DREAMING OF TRAVEL: About 7,000 people applied for the experience, with about 60 chosen for the first flight yesterday, which includes boarding an airplane Starved of the travel experience during COVID-19? Taipei International Airport (Songshan airport) has the solution — a fake itinerary where you check in, go through passport control and security, and even board the aircraft. You just never leave. The airport yesterday began offering travelers the chance to do just that, with about 60 people eager to get going, albeit to nowhere. About 7,000 people applied to take part, with the winners chosen by random. More fake flight experiences are to take place in the coming weeks. “I really want to leave the country, but because of the pandemic, lots of flights cannot fly,”
A DEPRIVATION? The Taiwan Higher Education Union said the program, which drew much student criticism, undermined students' right to an education The Taiwan Higher Education Union on Monday accused Ming Chuan University (MCU) of sacrificing its students’ right to education by altering the English-language instruction for first-year students. The university, which has long emphasized the value that it places on English-language education, in the 2019-2020 academic year changed its English program for first-year students to a combination of self-learning through online videos and weekly lab sessions, during which students would take online tests, the union said. The change has deprived more than 3,000 students of in-person instruction and of interaction with their teachers, the union added. The online program drew much criticism from students


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POLICE have launched an investigation into claims that thousands of pounds worth of goods and money have been stolen from a popular farm shop in the Ribble Valley.
Bosses at Huntley’s in Samlesbury fear the business may have been targeted two or three times a week.
Staff at the farm studied CCTV footage when they became suspicious after a number of items and cash went missing. Police confirmed that they had arrested a 27-year-old man from Walton-le-Dale on suspicion of burglary with intent to steal and possession of cannabis.
He has been released on bail until July 19th.
A spokesman for the Lancashire Constabulary said: “We have launched an investigation and we are looking at a number of different incidents at the site involving theft and we will be carrying out a number of inquiries. The man was arrested in relation to an alleged offence between May 12th and May 20th, but police said further inquiries are being made in connection with a number of other allegations.”


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Porsche is joining the fight against the Coronavirus pandemic by donating a money-can’t-buy lot to an auction in aid of United Way Worldwide’s COVID-19 Community Response and Recovery Fund.
The star attraction will be the last-ever 991 generation 911 to roll off the production line at Porsche’s Stuttgart-Zuffenhausen factory.
Fittingly, the RM Sotheby’s auction vehicle is a unique 911 Speedster, one of 1,948 examples created to mark 70 years of Porsche sports cars.
“We are all profoundly affected by the current situation and the immediate impact it’s having on those most at risk in our communities,” said Klaus Zellmer, President and CEO of Porsche Cars North America.
“United Way continues to step up to the plate and their response to this crisis has been quite impressive. So, we are proud to do our part. I also appreciate the swift support of RM Sotheby’s to make this possible and I am hopeful that the sale of a very special Porsche will help in a small way.”
Porsche Design is supporting the auction with the creation of a bespoke addition to the highest bidder’s package – a 911 Speedster Heritage Design Chronograph.
The watch incorporates the vehicle’s historic design features, including a strap made in the exact same cognac leather as that applied to the interior of the sports car and a silver winding rotor that mirrors the car’s unique wheels.
Created exclusively for 911 Speedster customers and made in Switzerland, the limited-edition watch will feature the chassis number of the final 991 generation 911, making it unique.
The winning bidder and a guest will also be invited to take a personal, behind-the-scenes tour of the Porsche AG Weissach development headquarters – including a test track experience.
The car will also be accompanied by a one-of-a-kind book illustrating the assembly and completion of the last 991, including photographs and an original sketch by the Speedster design team.
The 911 Speedster (the last of the seventh generation of the 911) is offered without reserve and will sell to the highest bidder. Finished in GT Silver Metallic paint, it is unregistered and has covered just 20 delivery miles.
The one-week auction (April 15-22) will be held in the US via RM Sotheby’s Online Only auction platform to adhere to social distancing guidelines.
Potential bidders can find more information on the unique package being offered and the registration process at https://rmsothebys.com/en/auctions/0020.


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Green Shoots Blog
For the eighth year in a row Cali Bamboo has been named to Inc. Magazine’s Inc. 5000 list as one of the fastest growing private companies in America. Cali Bamboo is ranked among major brands including Dell, LinkedIn, and many others honored with this prestigious award. We are thrilled to note the progress on this list over the last three years: From 3,393 in 2014 to 2,341 in 2015 and now 1,745 in 2016.
“We are growing at an exponential rate, and it shows,” says Jeff Goldberg, Founder and CEO of Cali Bamboo. “This honor of being recognized on the Inc. 5000 list is something we strive for every year – a hallmark of success backed by rigorous development and a relentless focus on making the right decisions for our business; from the personnel we hire, to training, acquisition, product development, and execution. We have been as consistent in our growth as we are dedicated to our mission to further a sustainable future, and we look forward to future growth and a continued, noteworthy rise on this prestigious list.”
Complete results of the Inc. 5000 can be found at www.inc.com/inc5000.
The company’s VP of Customer Experience and Transformation was honored as a ‘top tech exec’ for her innovative work in improving Cali’s service and business systems. Alexandra Gerritsen, Cali’s Vice President of Customer Experience and Transformation, has...read more
The consumer brands veteran and former Chief Financial Officer of Skullcandy Inc brings over 20 years of experience to the omni-channel building products company, and will harness an expertise in boosting profitable growth to further propel the industry...read more
The eco building company adds a crowning collection to its Cali Hardwoods line with eight engineered flooring styles showcasing select cuts of European white oak. Extra large planks are responsibly harvested and made with a sustainable acacia foundation....read more


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CKS BAGS DIPLOMAT'S BOOKS
The Centre for Khmer Studies is receiving a collection of roughly 800 books and government documents belonging to Leonard Overton, a US diplomat who worked in Saigon and Phnom Penh during the 1950s and '60s. The Overton collection is expected to arrive later this month and will contain official material from Cambodia's French colonial period.
The collection will be the latest addition to the centre's library, which director of operations Michael Sullivan says is the country's largest publicly accessible library outside of Phnom Penh. A new library building is under construction and is scheduled to open in December.
The Blue Chilli Drag Revue
BENT BANANA BASH
The gay-friendly Golden Banana Resort launched last Saturday with a daylong party that began with a traditional Buddhist blessing and ended with a one-hour cabaret show by the Blue Chilli Drag Revue. The dancers hailed from the Blue Chilli club in Phnom Penh and performed to drag classics from Liza Minnelli and Dreamgirls.
General manager Dirk de Graaff said the Golden Banana Resort is aimed at independent travellers and hopes that by targeting a niche market the resort will more easily weather the global financial downturn.
De Graaff said the crowd reaction to the Blue Chilli Drag Revue was so positive he is considering turning the party into a regular feature on the Siem Reap social calendar.
The show was also a buildup to the five-day Cambodian Pride Festival in Phnom Penh this week.
ALLEY WEST TURNS TRENDY
The newest downtown sector in Siem Reap to turn trendy is Alley West, running off The Passage near Pub Street.
Until recently it's been a fairly drab, neglected strip but has become home to Elizabeth Kiester's Wanderlust fashion store, the innovative seafood restaurant Samot and the Sports Bar.
But now it's starting to buzz with the opening on the weekend of the ultra-smart Picasso wine and tapas bar. This is the latest venture by Thilo Krueger, proprietor of Tell Restaurant.
A neighbouring venture is the new Poetry store, co-owned by artists and designers Loven Ramos and Don Protasio.
This quirky store stocks jewellery, clothing and stuff best referred to as, well, stuff. This includes designer sketch pads, poetry in a box and individually designed ceramics billed as "Urban stories of love and redemption on ceramics to bring out the Barbara Cartland in you".
This store harbours an obsession with tuk-tuks.They feature on the cover of the designer sketch pads, are part of a T-shirt line and are emblazoned on hand-held fans.
Co-owner Protasio said raising the tuk-tuk to an art form is part of the store's philosophy of giving a different take on something Cambodian.
IRE OVER HOSPITAL FEES
The Angkor Hospital for Children is considering taking a controversial step and charging outpatients a US$2 fee, a source at the hospital said.
This measure has been brought about by a drop in donor revenue, which is afflicting many NGOs.
The hospital's director has reportedly sent a letter suggesting the introduction of fees to the board in the US, but many staff are resisting the move because they say part of the hospital's mandate is that it has from day 1 been a free hospital.
There is also a fear that fees will drive patients to Siem Reap's other free children's hospital, Kantha Bopha, and there is fierce, bitter rivalry between the two institutions.
Hospital sources also report that there is a move to make all hospital staff pay an obligatory "donation" from their monthly salary to help fund the hospital.
WINE AND FASHION FUNCTION
Geoffrey Whitty, owner of Fine Star Wines, organised another of his renowned Siem Reap community functions on Saturday night at the new Sojourn Boutique Villas complex, which is just far enough from Siem Reap's town centre to be considered in the country.
The night featured a fashion show by Eric Raisina, and several of the models were wives of hotel general managers in attendance.Raisina also showed video clips of his African fashion shows.
Wine tasting was another feature of the night, and some of the wines sampled were from The Winery of Good Hope in Stellenbosch, South Africa. Good Hope's owner and winemaker, Alex Dale, also attended and gave a talk.
Fancy a $32.50 plus tax hamburger? Raffles Grand Hotel is holding a hamburger promotion at its Cafe D'Angkor and Elephant Bar until May 31.
The Giant Texas 32-buck-plus burger is billed as the "largest burger in town", and at that price it ought to be. The main ingredient is 400 grams of ground wagyu beef.
Another budget-busting burger is the salmon teriyaki model, with cole slaw, pickles and chips at a mere $30.50 plus tax.
The cheapest item is the $10 "old fashioned hamburger".
Meanwhile, Cambodian BBQ and Banana Leaf are staging a "which one is which" game as part of a promotion called the Dhabu Amazing Race, organised by Exotissimo Travel.
The race kicked off Wednesday and will continue on Saturday with 10 teams of seven people competing. On the final day, Tuesday, 90 people will hopefully contest.


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February 17, 2016 |
Inventory today is back to early January levels.
September 18, 2015 |
We are halfway through September and the inventory is as tight as ever.
September 10, 2015 |
As expected, there is a lot of new inventory on the market this weekend to kick off the Fall selling season.


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Last week, several companies, including Nordstrom and Neiman Marcus announced they will no longer sell Ivanka Trump’s fashion collection, citing poor Brand’s Performance. That didn’t sit well with president Donald Trump. So he did what he does best… well, you know.
On Wednesday morning, the thin-skinned president fired off a tweet attacking Nordstrom, saying that the department store has treated his eldest daughter, Ivanka, “so unfairly.”
Nordstrom said the brand had poor sales, but the move came in the wake of a social media campaign calling for a boycott of businesses selling Trump-branded wares.
“We’ve got thousands of brands —more than 2,000 offered on the site alone,” said a spokesperson for the Nordstrom, which has nearly 350 stores under various banners across North America. “Reviewing their merit and making edits is part of the regular rhythm of our business. Each year we cut about 10 percent and refresh our assortment with about the same amount. In this case, based on the brand’s performance we’ve decided not to buy it for this season.”
Trump’s attack on Nordstrom is just the latest example highlighting the many conflicts of interest that tie together his business interests and the presidency.
Trump has singled out companies before, but this time he set his sights on a business directly affecting his daughter’s own.
“Knowing that he’s doing it just for his family’s business interest is disturbing,” says Jordan Libowitz, a spokesman for Citizens for Responsibility and Ethics in Washington.
“The real question to ask,” he adds, “is how does it benefit Kushner?” While Ivanka Trump does not have an official role in the White House, her husband, Jared Kushner, is a top adviser to the president.
Ethics lawyers have repeatedly called Trump’s attempt at separating himself from his businesses before taking office insufficient. Last month, CREW filed a lawsuit against Trump for violating the Constitution on the grounds that he is receiving payments from foreign governments.


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Indorama Ventures Public Company Limited told PlasticsToday that North America represents the company's best market for PET today.
Richard Jones, Indorama's spokesman, said that the company sees around 3% growth in demand each year.
"The reason it continues to grow is that PET is the most cost-effective packaging material and is eating into the market share of glass and aluminum each year," he said. "On a global basis, PET continues to grow and is the packaging material of choice today for younger economies."
According to Research and Markets, due to its varied applications, PET consumption increased significantly in the last 15 years over other alternative packaging materials such as aluminum, glass, paper and others. The global PET resin industry grew at a CAGR of 7.8% over the period 2005-2011. This growth is being driven by population growth, urbanization in developing countries, rise in disposable income and growth in the fast-moving consumer goods sector. In addition, the report said that the emergence of new application areas for PET resin like alcoholic and non-alcoholic beverages, as well as pharmaceuticals, will contribute to its growth in future years.
Asia is the largest PET resin producer followed by North America, Europe and the Middle East. Demand of recycled PET (RPET) has increased over the past few years due to high virgin PET prices and new PET reclamation plants getting operational. Challenges faced by the industry include high PTA (Purified Terephthalic acid) and MEG (Monoethylene Glycol) prices and reduction in bottle weights, the report stated.
Worldwide, the PET resin market is fragmented with the top five manufacturers having approximately one-third of the total market share. The PET market in North America is consolidated with the top three companies accounting for nearly 90% of market share. Globally Thailand-based Indorama is the market leader. Other major companies include Alpek, M&G, Sinopec, Jiangsu, Far Eastern, China Resources and Nan Ya.
New Alabama PET plant
Indorama entered the PET business in 1995 when it established a PET facility in Thailand with a capacity of 20,000 tons of year. Since then, the company has grown to operate 13 production facilities across five countries with a combined capacity to produce 1.5 million tons of PET polymers. More than 60% of its business is in the Western hemisphere and the company is the second-largest PET producer in North America with production in the U.S. and Mexico. The company has operations in the U.S. since 2003 and today employs in the U.S. a workforce of 1073, with nearly 700 of them in the PET business alone.
After the start up of the AlphaPet facility at Decatur, AL, Indorama said it became the largest PET producer in the world. Once the AlphaPet plant was completed in 2009, the company added a recycling plant to the site and is now able to recycle used PET bottles to produce a portion of its PET resin.
The company recently announced that it will invest $190 million to build an additional PET manufacturing plant adjacent to its current site near the Tennessee River in Decatur. Operated by its subsidiary, AlphaPet, the plant will produce about 500,000 tons of resin per year and will employ an additional 75 full-time workers, taking total employment on this site close to 200 when the project is complete.
The plant will be adjacent to its BP Chemicals PTA/paraxylene plant, as is its first AlphaPet plant. The new plant will feature two PET lines and will use melt-to-resin technology and they will also have the option of linking to the company's flake-to-resin facility on-site.
Construction will begin in 2013 and Jones said they are targeting for the plant to be fully operational in the fourth quarter of 2015.
Jones said they decided to build another plant in Decatur because they feel there is still a lot of potential growth in demand for PET in North America.
"We are very pleased with the operation of our first site there, AlphaPet," he said. "We will have virtual integration with the PTA plant next door and the site has excellent logistics on-site. We have received very close cooperation from the authorities in Decatur and Alabama as a whole and were encouraged by the access to skilled labor in the area."
Jones said the company believes it is one of the most efficient players in the polyester value chain.
"We have geographic and product diversity that offers our customers unparalleled choice and our new plant in Alabama will actually lower our total cost profile when it is operational," he said. "We continue to see the demand for our products growing even in economic crises and will seek new opportunities to expand whether this is through organic or non organic means."


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|The typical mall shopper never thinks of the arduous route even the simplest imported products take on their way from raw material to store shelf.
However, some 108 UNT merchandising and marketing students know about overseas product sourcing from personal experience, making them more desirable to employers in wholesale or retail companies when they graduate.
The students in UNT’s intensive three-week program — which is sandwiched within regular summer school classes for which they can earn college credit — travel to Hong Kong and China to learn their fields from the inside out.
“Our overarching purpose is to foster learning and living experiences for our students,” explains Lou Pelton, associate professor of marketing and logistics and a faculty sponsor of the program along with Dee Knight (’95 M.S.), assistant professor of merchandising.
“It goes way beyond academic,” Pelton says. “Cultural immersion is another goal.”
Now in its fourth year, the Hong Kong/China study abroad program has already become the largest of UNT’s approximately 20 faculty-led programs and the only one in Asia. Students in the program (38 this summer) witness the apparel supply chain from fiber manufacture through shipment of finished garments. They learn about quality testing, merchandising and marketing of products and meet with factory managers, business executives and government officials about doing business in China.
Morgan Lee, who will graduate in August, learned that “the world is not one-dimensional. It’s global now. … You can do business just as easily overseas and with 10 times the opportunities.”
Lee was among 30 students who traveled in the summer of 2004 to southern China’s Pearl River Delta, chosen because it is “the fastest growing economic region in the world,” Pelton says.
There they visited production factories for retailers such as J.C. Penney Co., Target and Fossil. The visits were set up in advance through the professors’ Dallas-area corporate contacts, which are a key to the program.
“Schools just can’t go into factories on our own,” Knight says. “We couldn’t get in without them.”
The program originated in 2003 when the professors were working on an international research project. When Pelton asked Knight if she was interested in taking merchandising students to Asia, she responded enthusiastically.
“Everyone is sourcing apparel in Asia today. Our students now can tell prospective employers that they have been in Asian factories,” Knight says.
Passing on the savings
Pelton notes that the program has “built a critical mass of students and an unprecedented level of business relationships” very quickly. He attributes its popularity to general interest in China’s dynamic southern region, to the program’s leveraging of Dallas business contacts that smooth the way and to the reasonable price.
Unlike many study abroad programs, the Hong Kong/China program doesn’t contract with outside, for-profit companies to make arrangements. The two professors personally set up everything and pass on the savings.
Not that the program is inexpensive. This summer’s trip costs $3,495 per student. That includes not only air fare and factory tours, but also hotels, breakfast buffets, catered meals, a ground-transport pass in Hong Kong and a full-day tour of Macao. An extensive orientation DVD shows students how to prepare for their trip and clues them in to Chinese cultural basics.
Before and after the trip, the students attend either one or two of the three marketing and merchandising classes connected with the course.
Staci Judice, who went in 2004, believes the trip was worth every cent.
“It didn’t cost all that much, given where we went, what we saw and experienced. I saw it as both a learning experience and an adventure. I thought, ‘I’ll be taking classes in a foreign country. How cool is that?’”
Even while traveling, Judice and the other students had to work on academic projects. Knight had students compare Hong Kong department stores to each other and to U.S. counterparts, considering such factors as customer experience, merchandising strategies and store ambience.
Pelton’s academic project required the students to put together a market entry strategy for a product being either imported or exported through Hong Kong.
He says the students came to the understanding that it’s one thing to read about cultures and another thing entirely to experience them.
“One of the learning outcomes is that they see the real-world impact of cultural differences on marketing and merchandising strategies.”
For example, they saw that the small size and crowded population of Hong Kong forces entirely different consumption patterns. Homes — typically apartments — are only about 20 percent of the size of the average U.S. apartment, Pelton points out. That means people tend to shop for food daily, give away older clothing when they purchase new garments and buy smaller furniture because they simply don’t have room to do otherwise.
In China, the students witnessed poverty among people who work hard to advance. They learned that factory workers frequently live in compounds on the factory grounds, with little time for leisure and even less personal space than in Hong Kong for possessions.
Learning about the government’s policy of one child per family, they encountered what Pelton calls “the generation without cousins” and discovered how having only one child influences parental buying habits as well as how merchandise is promoted.
Students keep a journal about their experiences on the trip. Knight quotes one young woman as writing, “It challenged the way I think, the things I’ve always believed, and in the end, I realized I had changed — I guess that’s what learning is all about.”
Adds Knight, “She got it. That is what learning is all about.”
Hong Kong/China photos by Lynn Brandon, associate professor of merchandising