EVN Telecom to join 3G service market on Wednesday

19:47 ExploreVN


EVN Telecom

EVN Telecom

HCMC – Vietnam’s telecom market will see tougher competition this week as EVN Telecom revealed on Monday that it would officially commercialize 3G service on Wednesday the become the fourth 3G provider after VinaPhone, MobiFone and Viettel.

Nguyen Thanh Hai, head of EVN Telecom Center in the South, confirmed with the Daily via the telephone that “EVN will launch 3G service this Wednesday to enhance its foothold on the market.” According to Hai, EVN Telecom will develop the most modern network on its strong infrastructure network with 40,000 kilometers of internal cable. Besides, it has also has submarine optic cable which connect Vietnam with other countries through international gates located at Mong Cai, Lang Son and Moc Bai with total capacity of 24.5Gpbs.

The submarine cable is invested by TATA Communication with the participation of EVN Telecom, linking Singapore, Hong Kong, and Japan with an additional connection to the Philippines and Vietnam.

Under the project, EVN Telecom initially has the right to use a transmission speed of 50Gbps and increase its connectivity capacity later.

Hai said that with the strong infrastructure network, EVN Telecom would take full advantage of the network to increase its capacity to meet the increasing demand of clients. “Initially, EVN Telecom introduces basic 3G service like Video on demand, Mobile Tivi and other added value services. However, to make a difference from other providers, Mobile Tivi is what EVN Telecom focuses on for development,” he said.

In the initial stage, EVN Telecom will supply 3G wave nationwide. However, the strong wave zone will focus on major cities like HCMC, Hanoi, Hai Phong, Danang and Can Tho.

Up to date, EVN Telecom still keeps a secret about its price policy and will publicize this on Wednesday.
Currently, EVN Telecom has around 3,000 base transceiver stations and will expand its system up to 5,000 stations later this year to widen its coverage zone. In the first year, EVN targets to lure one million 3G subscribers.

Up to date, EVN Telecom has around six million subscribers, four million of which are fixed wireless telephone subscribers and the remainder mobile phone subscribers. The Ministry of Information and Communication reported that May saw 17.5 million new mobile subscribers, increasing by over 26% over the year-earlier period.

Up to date, the country has 148.9 million subscribers, 129 million of which are mobile service ones.

By Hien Nguyen – The Saigon Times Daily

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World music to spice up summer

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sofitel

"Fete de la Musique" – a French celebration of all genres of music – will be hosted by Sofitel hotels on June 20 and 21.

It will mark World Music Day on Monday, a music festival which began in France in 1982 and has now spread to many countries, a hotel spokesman said.

Initially to mark the beginning of summer, the festival encourages musicians to perform in the street and give public concerts in all music genres.

At the Sofitel Legend Metropole Hanoi, a live jazz band led by Grammy Award nominee Andromeda Turre will perform at Le Club bar; Vietnamese traditional music performance will take place at Spices Garden restaurant; a saxophone performer will feature at La Terrasse sidewalk cafe and a French DJ will play in Angelina Italian restaurant.

Sofitel Plaza Hanoi has a fusion of East and West. Song Hong Bar will feature Vietnamese “ca tru”(ceremonial singing) and “xam” (a kind of music specifically performed by blinded artists) while the rooftop Summit Lounge will offer music from French electronic music composer Jean Michel Jarre.

In Da Lat, Sofitel Da Lat Palace's Le Rabelais restaurant will have French classical music; L'Atelier du Vin will have traditional Vietnamese music; a DJ will be on in Larry's Bar.

In Ho Chi Minh City, at Sofitel Saigon Plaza, Vietnamese singers will perform in Elysee bar on Sunday as will pianist Nguyen Anh, saxophonist Anh Vu, violinist Thien Huong and guitarist Ngoc Hung.

A violinist will play a tables in Olivier restaurant while a DJ will officiate at a pool party on the 18th floor.

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Bank interest rates to be adjusted flexibly

19:44 ExploreVN

The State Bank of Vietnam (SBV) will announce a new prime interest rate for loans after a market rate has been set by credit organisations on deposits in order to prevent excessive lending rates, said SBV Governor Nguyen Van Giau.


Mr. Giau revealed this while talking to the media on the adjustment and amendments to the Law on the State Bank of Vietnam, which was approved at the current National Assembly’s session in Hanoi on June 16.

According to Mr. Giau, the Law has created an important legal foundation for changing the prime interest rate following the new market rate. This will help the central bank correctly carry out its monetary policy while enforcing the relevant laws on civil, criminal and labour affairs.

He said that in a market economy, a monetary policy is gradually formed by using indirect market tools to increase the supply of money which has an impact on short-term interest rates and national economic growth.

Normally, most central banks want to be clear over short-term interest rates. This is the reason why central banks often announce a number of their interest rates on monetary policy operations, the SBV Governor added.

He said that the nation’s monetary policy comprises decisions on finances at national level by authorised State agencies, including those to stabilise the currency, and control the inflation rate, as well as measures to achieve set targets. Accordingly, the National Assembly sets the annual inflation rate based on the consumer price index (CPI). The Prime Minister and the SBV Governor then decide which tools and measures to use to control national monetary policy.

Mr. Giau also emphasised that the SBV plays a key role in ensuring adequate capital resources to maintain the nation’s foreign currency reserves, the exchange rate policy and the ability to make international payments, as well as meeting the State’s demands for foreign currency.

Foreign currency reserves are a valuable asset to ensure the value of money in circulation. Therefore, he said, the national fund for foreign currency reserves is mainly used to intervene in the foreign currency market and stabilise the value of the domestic currency by buying and selling foreign currencies.

The SBV is in charge of managing the fund in line with the current regulations on the management of foreign currency. If using the reserves causes changes to the State budget estimates, it is essential to act according to the Law on the State budget.

NA deputies approved the Law on the State Bank of Vietnam (revised) on June 16 with an overwhelming vote.

The Law includes 7 chapters and 66 articles, in which the SBV’s legal status is still maintained as stipulated in the Law adopted in 1997, and is in line with the 1992 Constitution.

The 2010 Law states that the SBV is a ministry-level agency and is allowed to use monetary policy tools in a more flexible manner.

According to the Law, the SBV is responsible for reporting to the National Assembly, the Government and the public to ensure the transparency and publicity of its monetary policy operations.

Source:dtinews

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A visit to Hanoi's most treasured house

19:43 ExploreVN

The old garden house located at 115 Hang Bac (with rear access from Alley 6, Dinh Liet St.) is one of the few remaining jewels from the past nestled in the heart of Hanoi's Old Quarter.

The anniversary that marks the 1000th birthday of Hanoi (Thang Long) is just a few months away. Numerous activities celebrating Hanoi's unique character and past have already been organised in preparation for the event.

Conserving old relics is one of these activities. Hoan Kiem District's People's Committee was recently assigned the task of ensuring that building repairs be carried out in the proper manner, as well as that of finding ways to turn this old garden house into a charming site that will attract visits from Hanoi's tourists.



Access to the house from Alley 6, Dinh Liet Street.



Pathway leading to the house.



Small islet in the middle of the front courtyard.



Mrs. Te, the owner of the house, lives on the 2nd floor.



Illegal construction of a new toilet area by a neighbouring household has affected the natural beauty of the spot.



Century-old lock still used today.



Staircase to the 2nd floor.



Mrs. Te, almost 100, is the owner of this beautiful garden house.



The house's style of decoration calls up recollections of the past.



Reminiscent of Hanoi's interior design of 50 years ago.



Wooden furniture that was popular in former times.



The window looking out from Mrs. Te's kitchen.



A flower pot adorning the balcony.



Entrance to the 3rd floor with its antique design doors.



Unique design detail on the stairs.



Tucked-away corner of the 3rd floor garden.



New surrounding houses block much of the sunlight from this garden.



Plants requiring little sun are grown instead.



Tile roof of the house.



Distinctive roof-top design details.



Details on the gable of the ancient house.


Source:dtinews

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