State-owned enterprises: strong or weak?

State-owned enterprises: strong or weak?

14:06' 04/06/2007 (GMT+7)

The number of workers in SOEs is gradually declining in total number and percentage of total number of workers in all kinds of businesses. VietNamNet Bridge – Looking at data of the General Department of Statistics and the Ministry of Finance on State-owned enterprises (SOEs), some noteworthy things can be seen. In terms of quantity, by early 2006, Vietnam had 4,086 operating SOEs, accounting for only 3.6% of the total active enterprises in Vietnam, and equivalent to less than one-third of the total SOEs in the pre-renovation period. As the equitisation process is accelerated, this ratio will decrease more quickly. Of the total number of SOEs, the number of SOEs that are managed by provincial and municipal governments is higher than that of those controlled by the central government (55.3% and 44.7%, respectively). The SOEs of the first kind have smaller scale and less modern equipment and technology as well as lower business effectiveness than the second, so the number of SOEs of this kind is high. Moreover, the mechanism in which SOEs are managed by ministries and provincial People’s Committees is unsuitable to the market economy, which Vietnam is building because in the market economy, all businesses compete equally. This fact requires higher speed of equitisation. Though the average labour scale of SOEs is higher than private and foreign-invested ones (499.5 workers compared to 28.2 and 330.2 people, respectively) the number of workers in SOEs is gradually declining in total number (from over 4.114 million in early 2002 to nearly 2.041 million in early 2006) and percentage of total number of workers in all kinds of businesses (from 53.8% to 32.7% in the same period). Though the average capital of SOEs is higher than that of private and foreign-invested ones (VND327.5 billion compared to VND5.8 billion and VND132.5 billion), the percentage of capital of SOEs of the total capital of enterprises has declined, from 55.9% in 2001 to 54.9% in 2005, while that of private businesses has increased, from 12% to 25% in those same years. According to the Finance Ministry, the total assets of SOEs reached VND747.4 trillion in early 2006. However, debts accounted for 22.2% and 76% of the volume were bank loans. Except for SOEs that benefit from business advantages and enjoy special preferential policies, the business effectiveness of other SOEs is low. The Vietnam Oil and Gas Group (PetroVietnam) earned revenue of VND42.31 trillion and VND24.924 trillion of profit; VND38.818 trillion and VND3.2 trillion for the Electricity of Vietnam (EVN) group; VND32.76 trillion and VND11.56 trillion for the Vietnam Post and Telecommunications Group (VNPT); VND22.788 and VND3.130 trillion for the Coal and Minerals Group. SOEs that contributed greatly to the State Budget were the Vietnam Petroleum Import Export Corporation (VND8.252 trillion), the Vietnam National Tobacco Corporation (VND3.13 trillion), and the Saigon Beverage Corporation (VND2.13 trillion). In the 2001-2005 period, the revenue of SOEs rose by 9.1% per annum only and it was just 7.2% in 2005, just a little bit higher than the increase of the consumer price index. There were many ineffective SOEs and most of them operate in the fields of agriculture, paper, textiles, sericulture, sugar and sugarcane, and seafood. The total losses of SOEs in 2005 were VND1.919 trillion. Loss-making SOEs accounted for 19.5% and 8.8% broke even. Big loss-making SOEs were the Vietnam Cement Corporation, Coffee Corporation, Transport Work Construction Companies 5 and 6, Thang Long Construction Corporation, Sericulture Corporation with losses from VND220 to VND1,352 billion, 13 times more than the average capital of SOEs. Major reasons for the weakness of SOEs include backward equipment and technology; poor use of modern equipment (if possessed at all); total investment too big, leading to high deductions and loan interest in production costs; waste in production processes; and higher expenses for salary. The above analysis shows that it is necessary to speed up equitisation while improving the quality of operations of SOEs so they can compete with foreign rivals when Vietnam opens its door more widely. (Source: TBKTVN)

It’s necessary to reserve 100,000 tonnes of urea

It’s necessary to reserve 100,000 tonnes of urea?

12:52' 04/06/2007 (GMT+7)

VietNamNet Bridge – The Ministry of Trade thinks that it is necessary to reserve 100,000 tonnes of urea, while the Vietnam Fertiliser Association (VFA) said that there is no need to do that. The Ministry of Trade (MoT) has proposed the Government to assign the Phu My Fertiliser Plant to keep 100,000 tonnes of urea in stocks until the Ca Mau Power – Fertiliser Plant becomes operational. However, the proposal has been facing strong opposition from the Vietnam Fertiliser Association, which said that it would be a waste to reserve urea while the product can be supplied from domestic production and imports. As such, the Phu My plant will have to have a regular reserve of 100,000 tonnes in stock for three years. MoT fears that the market would face the urea shortage, which will have a bad impact on agricultural production. Meanwhile, Nguyen Dinh Hac Thuy, Deputy Chairman of VFA said: “It is unreasonable to store 100,000 tonnes of urea for several years. The demand is decreasing in the country, while the supply is enough to feed the demand”. The statistics from VFA said that in 2006, the total demand for urea was just 1.6-1.7mil tones a year. Domestic sources can supply 800,000 tonnes, including 650,000 tonnes from the Phu My Fertiliser Plant and 150,000 tonnes from the Ha Bac Fertiliser Plant. Besides, the imports and stocks would provide 850,000 tonnes, enough to satisfy domestic demand. In August, September and October 2007, the Phu My Fertiliser Plant can produce nearly 200,000 tonnes, while Ha Bac can provide 50,000 tonnes. Besides, the market would have another supply - 2-2,500 tonnes of urea a day from imports in small scale from China through the Mong Cai border gate. It would take two months only to import 100,000 tonnes of urea to satisfy the domestic demand. Mr Thuy stressed that fertilizer would come as soon as the demand appears, and there is no need to keep the product in stocks. Currently, one tonne of urea is priced at VND4.7mil ($293.75), and if keeping 100,000 tonnes in stocks, it would need the big capital of VND470bil ($29.37mil), and if counting on the bank interest rate of 10% per annum, the total loss would be VND47bil ($2.93mil). According to Pham Huu Tien, Deputy Director General of the Phu My Fertiliser Plant, in addition to the loss of VND47bil a year, the plant would bear other expenses including the storage and preservation, estimated at VND80bil a year. Regarding the implementation of the Ca Mau Power – Fertiliser plant project, an official from the Ministry of Industry said that the project is still on paper, construction and installation would last three years. If so, the total loss the Phu My plant would suffer may reach VND240bil ($15mil) for three years. An official from VFA recalled the story occurred three years ago. At that time, the state management authority asked to reserve 100,000 tonnes of urea. However, just 3 months later, the Ministry of Trade asked 3 corporations that reserved urea to sell the 100,000 tonnes as the price fell down dramatically. As the result, the three corporations incurred the loss of VND23bil ($1.43mil). (Source: TBKTVN)

Little boys with big talent support family

Little boys with big talent support family

11:47' 02/06/2007 (GMT+7)

VietNamNet Bridge – Two brothers, seven and 10, have used their chess talents to become the breadwinners of their family of six. More than child’s play: Seven-year-old Tran Minh Thang (centre) watches as his 10-year-old brother Tran Tuan Minh (right) plays a chess game at an evening training class at the Trinh Hoai Duc Sporting Hall. Already national and international tournament champions, the boys hope to someday play for the national chess team. Tran Minh Thang presented the pile of medals he’d won from chess competitions like an ordinary seven-year-old would show off the contents of his toy box. "I have 11 medals" he whispered shyly, looking down at the cardboard box gleaming with gold, silver and bronze. His 10-year-olds brother Tran Tuan Minh has lost count of the medals he’s won at national and international chess competitions, but he estimates the number to be more than 30. These medals aren’t the brothers’ only gold: they’ve become the breadwinners of their six-member family with a VND2.5mil (US$160) monthly stipend from the Ha Noi Sports Department. "Frankly, we have to live on their ’income’, said their father, Tran Van Thuan. "We try to create the most favourable conditions for their study". He and his wife Nguyen Thi Xuan retired early so that they could transport their "little chess kings" to evening chess classes some 20km away from their house in Dong Ngac Commune in Tu Liem, an outlying district of Hanoi. Their retirement pensions are barely enough to cover the cost of transporting the boys, so the boys’ earnings have to cover other expenses. Every Tuesday, Thursday and Saturday evening, Minh and Thang attend chess classes instructed by foreign teachers, while on Wednesdays and Fridays they study more in depth with International Master Bui Vinh. For Thuan and Xuan, their children’s intelligence and work ethic are their greatest pride. "They ’don’t want to stay home even on rainy days," Xuan said. "They would never let me be lazy if I didn’t want to go out in the rain. They would say, ’Come on, we only have a few evening classes!’ Despite spending hours on chess study and competition, Minh and Thang have never neglected their studies at Dong Ngac Primary School, as evidenced by their grades. "Whenever they miss school, their teachers give them make-up lessons for free," Xuan said. Adult worries Chess dominates the young boys’ time and energy, but financial concerns are never far from their minds. According to their parents, Minh and Thang are constantly worried that their family will run out of money. "One time, it looked as though Minh wasn’t going to beat his rival, and his instructors threatened, ’If you don’t play well, your family will be homeless because all their money was spent on your game’. That drove him to win," Thuan recalled. Thuan, Xuan and the boys always manage to get by, but their apartment suggests that the family’s financial situation tends to require a delicate balance. The 39-sq.m space looks deceptively wide because of its emptiness. Apart from a TV, a battered wardrobe, a telephone and two fans, the family has only a 50cc motorbike, perhaps the family’s most precious asset, as it transports the boys to their chess classes. The boys’ fears have likely been compounded by situations like the Brunei tournament in 2002, which Minh was able to attend only after his parents borrowed more than VND10mil from his teachers. Luckily, Minh was able to repay the debt from his prize winnings at the tournament. "Playing chess is making them grow old too quickly", Xuan said, picking up a grey hair on Minh’s head. Chess before letters The boys’ chess ’careers’ began early - in Minh’s case, at the age of 4, before he had learned to read or write. "One day, my second daughter told me that Minh’s first chess moves were quite sharp," Xuan said. "When my daughter stopped playing chess with him to prepare dinner, he insisted she keep playing." Minh and Thang have been lucky to be able to practise at home with their older sister, also a member of the Ha Noi Chess Team. When the boys’ talent became obvious, their parents began sending them to good instructors at evening classes. In 2002, after several months of studying at the Trinh Hoai Duc Sporting Hall, Minh won his first award. At the first open chess competition held for children in northern Vietnam, Minh was recognised as the youngest player with an excellent record by the Chess Federation of Vietnam. In July of the following year, he won the national chess championship for seven-year-olds. Five months later at the Southeast Asian chess competition held in Brunei, Minh won two gold medals, despite competing against eight-year-olds. Since then, he has participated in competitions in Indonesia, Singapore and Thailand and has yet to return empty-handed. Following his brother’s footsteps, Thang also participated in the regional competition in Brunei, at age six. Thang proved he wasn’t just a little brother tagging along last year at the Indonesia tournament, where he won gold and silver medals. The boys’ instructor, International Master Vinh, believes his proteges hold a great deal of promise. "Their tactics are not yet up to professional standards, but their quickness is extremely good," Vinh said. "Minh and Thang’s styles are similar to world champions Alexander Alekhine and Tigran Petrosian respectively." According to Vinh, Minh will travel to Hungary for a few years of intensive training when he reaches 12. Hungary has been the training grounds for many Vietnamese grand masters including Nguyen Ngoc Truong Son and Dao Thien Hai. "With two competitions each month, it will be a good environment in which he can refine his skills," Vinh said. A dream come true To further improve their play, Minh and Thang have dreamt for years of having a computer that can analyse their chess performance. "I wish I had lots of money like master Vinh, then I would buy some computers," Thang said. Knowing that their parents couldn’t afford it, neither he nor Minh have ever asked for one. "They said their senior classmates had computers to analyse their games so they could find out which moves were right or wrong," Xuan explained. "Instead they rush to ask teachers whenever they are checkmated." The boys’ dreams will come true this Friday: they will receive a set of PCs in honour of Children’s Day, courtesy of FPT. The company has launched a programme to sponsor 12 young Vietnamese chess talents - which means that Minh and Thang’s parents will no longer have to worry about going into debt to support their children’s aspirations. (Source: Viet Nam News)

Coming to Nha Trang to join Sea Festival 2007

Coming to Nha Trang to join Sea Festival 2007

15:04' 03/06/2007 (GMT+7)

VietNamNet Bridge - Nha Trang, one of the most beautiful bays in the world, has received the interest of many international and domestic tourists. This summer, the coastal city of Nha Trang welcomes tourists to its “Sea Festival 2007 - Ideal Rendezvous” organised from June 9 to 15 with a variety of cultural, musical and entertainment programs. There is a long list of activities from which tourists can choose. Among them are many kinds of small to large scale contests such as Khanh Hoa Miss Vietnam and Vietnam Jewelry Queen beauty contests, swimming and fishing contests, a cooking contest for professional chefs, cyclo racing, human chess, and beach football tournaments. Other activities on the list are a beer festival, kite flying, a dance festival, exhibitions of Vietnamese and French artists’ paintings, pottery, weaving Cham’s brocade, a stamp exhibition with the ocean as the topic, and calligraphy exhibition. There are also several kinds of music and art performances such as a rock show, French and Korean art performances, a performance of Vietnamese three region folk songs, a comedy show of Khanh Hoa Province’s artists like Hoai Linh, Thuy Nga and Hien Mai. To join this Sea Festival in Nha Trang City, tourists can book a new tour from Saigontourist named “Sea Festival Nha Trang.” The tour, from HCMC to Nha Trang City, takes tourists to many popular sightseeing spots around the city and to the sea festival with several activities such as a giant chess competition, a road fashion show, an exhibition of 100 big weathercocks on the beach, the display of the record earning longest oven, and more. Joining this tour, travelers will spend time enjoying Sea Festival activities and visiting other landscapes of Nha Trang such as Vinpearland entertainment world with the longest cable car system, and Thap Ba hot springs with special water therapy. In addition, travelers can also join an ocean discovery tour to Hon Khi Island, try undersea diving to view primeval corals and many other marine creatures, take part in F1 mini car races, or enjoy a collective circus show. The tour begins on June 8, 9 and 10 with prices from VND1, 272,000 to VND6, 395,000 depending on hotel and means of transportation such as departing and arriving by car or departing by 5-star express and arriving by airplane. If going by car, travelers can contemplate the beauty of Ca Na Sea, a famous sea in central Vietnam, Lo River’s arc, and Ro Island along the coastline of Cam Ranh and Nha Trang on the journey. (Source: SGT)

Phu Lang stays true to its traditional way of life

Phu Lang stays true to its traditional way of life

11:48' 02/06/2007 (GMT+7)

VietNamNet Bridge – There isn’t much room for pottery in the fast-paced modern world but for the residents of Phu Lang ceramic village, their products are proving not only popular but highly lucrative. Wheel of fortune: A woman (left) performs one of the most challenging elements of the pottery-making process, in Phu Lang Village. Workers (right) process red clay, one of the main materials of Phu Lang ceramics. Phu Lang is a must-see for tourists in the region, not least because of its natural surroundings. The village sits at the foot of the majestic Son Mountain on the banks of the Cau River, only 18km northeast of Bac Ninh Town along Highway 18. Set apart from its spectacular scenery, Phu Lang Village is a beauty spot in its own right. The collection of houses glint with green-moss tiles, and the village roads are lined with a medley of ceramic goods propped against the shop fronts, in the village itself tourists can choose from ready-made clay creations and also have the opportunity to make something themselves. In the words of one foreign visitor, the village is a good place not only because you can meet and make friends with the locals and make original gifts for friends and relatives, but it’s also "a very good place to relax". Phu Lang is the last survivor of an old pottery Village triangle. Although Bat Trang still produces ceramics, the village has been sucked into the suburbs of Hanoi as a commune of Gia Lam. The third Village, Tho Ha, in Bac Giang Province, has also bent under the pressures of development and industrialisation. But it wasn’t simply through choice that Phu Lang was able to stay true to tradition as location again played a role in providing residents with easy access to the fundamental raw materials of their trade; water, firewood and clay. Of course, Phu Lang’s pottery is defined by the brown colour and specific texture of the raw day found in the region. But the villagers have a few extra techniques up their sleeves to differentiate their produce from others in the area. Plethora of pots: Phu Lang pottery is prepared for sale. Pots are baked in kilns at initial temperatures of 600 degrees centigrade rising gradually to around 1,200oC. Once the clay has cooled, potters add their trademark coat of thick eelskin enamel that gives the brown clay an original yellow tint. Constant production over the centuries has meant that some of the products the village produce are literally museum pieces. Foremost in this case are the village’s traditional incense burners used and favoured in the Le (1428-1788) and Mac (1527-1677) dynasties. Examples of these are on display at the Vietnamese Museum of History. It is significant that such a symbol of ancient tradition and culture should survive the aggressive competitiveness of the modern world. And when talking to the locals it seems the secret to success lies not only in artistic talent but also astute business skills. Locals attribute the popularity of pottery from Phu Lang to sustained durability and of course - money. "We can’t be beaten on price", one local resident says enthusiastically, admitting that friendly rivalry with products from Bat Trang keeps prices low. But its not all about the price tag. For alongside practical use locals eagerly put their success down to a special artistic edge, pointing to the traditional Phu Lang water jug as proof of their long-standing reputation. There is also a heavy air of entrepreneurialsim with trade increasing between Phu Lang and other communities and markets in northern and coastal provinces, spreading recently to find favour in the south. Innovation is also key as the village caters for little tapped-into religious demand for pots and jars. In the dry season from the 9th lunar month to the end of the lunar year for example, there is a large market for terra-cotta coffins because they preserve well and are easy to bury. For Phu Lang now, business in the high season is booming and the market is heaving with prospective customers. A new cast of talent Although pottery defines the village as a whole, two potters in particular stand out from the crowd. These are Vu Huu Nhung and Tran Manh Thieu, whose work has been exhibited in Hanoi and won armfuls of prizes. For Nhung, fortune’s wheel turned briskly. A graduate from the Ha Noi Industrial Fine Arts College, Nhung tried to set up a ceramic studio in the capital city but failed. Instead, the potter chose to return to his village to invest in making ceramics. It was a fateful move. Today, Nhung Ceramics is a popular trademark both inside the country and aboard. His works Mua Hoi (Festival Season) and Hoa Dat (Flower of Earth) won the Viet Nam Star, the highest merit granted to traditional artisans. But in the business-minded cast of his village, Nhung knows how to diversify his talents including producing large reliefs. He has received a contract to decorate villas on the Tuan Chau Tourism Island - an opportunity for him to become better known amongst local and foreign travellers. But despite his personal success, Nhung never forsakes his roots. "Along with creating artistic works, I also design my own pieces for Phu Lang ceramics so as to spread the word about Phu Lang’s products. I wish that when people speak about Phu Lang ceramics they will say the items are not just functional but also carry a high artistic value", Nhung says. His showrooms in Hanoi are at 79C Nguyen Thai Hoc and 254 Le Duan streets. Alongside Nhung Ceramics sits the work of fellow villager, Thieu. At Thieu’s gallery in Hanoi, viewers can see one man’s vision of rural life with prominent pieces Thieu Nu (Girl) and Rom Mua (Straw Season). But like Nhung, fate wasn’t always a friend to Thieu. "I had little initial capital to begin with. My four brothers and sisters clubbed together with several workers in my commune to set up a joint-workshop, restore a kiln left from my father and transport red clay (one of main materials of Phu Lang ceramics) from a distance of 10km to make our items. "Unfortunately, several of our first products were very bad. But I tried my utmost to learn from local artisans and gradually we started to produce high-quality pots that were well-like by customers, even hard-to-please ones," Thieu says. As a result of his hard work, Thieu was presented with the Viet Nam Golden Hand by the Ministry of Science and Technology in 2004. Today, Thieu employs 40-50 workers, has more than 300 artistic designs for his ceramics and is working on contracts to export his items to Taiwan and South Korea. Fate has certainly smiled on Phu Lang villagers Gom Nhung and Gom Thieu: names which are now popular across Vietnam, Asia and even Europe. For the small ceramic village these young artisans represent new breath for an ancient way of life - a balance between retaining traditional beauty and developing according to changing demands and fashion. It marks a new turn in the wheel of fortune for the village. A wheel the presidents made sure would always belong to a potter. (Source: Viet Nam News)

ietnam, Cuba to step up economic ties

ietnam, Cuba to step up economic ties

14:27' 03/06/2007 (GMT+7)

VietNamNet Bridge - Vietnam and Cuba will use the Vietnam-Cuba Joint Governmental Cooperation Committee as a platform to aid the two countries in expanding cooperation in energy, oil, biotechnology and agriculture. Visiting Party General Secretary Nong Duc Manh and Raul Castro, Second Secretary of the Communist Party of Cuba Central Committee, First Vice President of the State Council and First Vice President of the Council of Ministers, reached the agreement during their talks in Havana on June 1. The committee has been charged with looking into prospecting and drilling for oil on land and in the Gulf of Mexico, providing technical assistance for a biotechnology centre in Vietnam and rice cultivation in Cuba. The host and the guest also focused on increasing the exchange of visits by Party and state officials and furthering security and foreign relations cooperation. Vice President Castro said the visit to Cuba by General Secretary Manh would prove to be a steeping stone in lifting the friendship and traditional cooperation between the two Parties, states and people to new heights. He also spoke highly of General Secretary Manh’s tour of Latin America where he had made stops in Chile, Brazil and Venezuela, describing the visits as an important political event for the region and future cooperation between Latin America and Southeast Asia in general. The Cuban Vice President concluded by stating his administration's support of Vietnam’s bid for a non-permanent seat on the United Nations Security Council for the 2008-2009 term. In response, General Secretary Manh said Vietnam stands firm with Cuba in its struggles to remove the US embargo on the island state, have five young Cubans released from US custody and have accused airline and hotel bomber Luis Posada Carriles brought to trial. After the talks, General Secretary Nong Duc Manh and Vice President Raul Castro witnessed the signing of eight agreements on finance, sports, television and oil exploration; a cultural cooperation protocol, an archives cooperation plan and a memorandum of understanding on rice cultivation in Cuba. Party General Secretary Manh also presented part of a 3,000 tonnes of rice as donation to Cuban people and 100 TV sets to offices of the Communist Party of Cuba.

Investing in sports talents needs thorough change

Investing in sports talents needs thorough change

14:21' 03/06/2007 (GMT+7)

Le Quang Liem (photo: chessbase.de) VietNamNet Bridge – Chess player Le Quang Liem is a rare talent but the total State investment in this great master is only VND43 million ($3,000) a year or only VND3.5 million ($215) a month – too little for a great talent. Le Quang Liem is the first player who has held all three national championships for traditional, rapid and blitz chess tournaments within a given year, according to Vice Chairman of the HCM City Chess Federation Nguyen Phuoc Trung. Mr Trung also said that in early July, when the World Chess Confederation (FIDE) announced the Elo and the new rankings for chess players worldwide, Liem had passed Thien Hai and Truong Son to become the top chess player of Vietnam. At the age of 16, Liem has proven his talent in overcoming great masters like Thien Hai, Anh Dung, Hoang Thong and Truong Son. Is there any special investment for Liem to develop his talent? “Liem currently ranks 372nd in FIDE’s ratings and if he is invested in properly, Liem can enter the top 50 of the world,” Mr Trung said. What is proper investment? It is participating in around ten international contests and being trained by a good coach who is paid US$5,000 a month. That’s an unreachable dream for a Vietnamese chess player, even a rare talent like Liem. It is sad to know that the above investment level is a dream but it is much sadder to know the current investment in Liem, because it is too low. Each year Liem receives VND21 million of salary from the HCM City Department of Sports and Physical Training, VND2.5 million for being a national sports great master and around VND20 million for being a member of the national chess team, totaling VND43.5 million (less than $3,000). Changes are needed Hoa Khanh, a former member of the national chess team, said: “Irrational investment mechanism has held back the development of sports in general and chess in particular. It’s absurd when a pupil who has just played chess for a short period of time and shows a little talent is immediately selected for the team of key chess talents and enjoys State support of several hundreds of thousands dong a month.” This amount of money is small but it becomes a big number when the payment for hundreds of players of this kind is added up. In addition, there are many other kinds of talented players who also receive State money. If this whole sum of money is invested in a small number of big talents the results would be much better. The viewpoint of Hoa Khanh is the way that developed countries perform. An overseas Vietnamese in Australia said that his family must pay everything for their 7-year-old daughter who has won a gold medal at a state swimming contest for students. If this girl becomes a member of the state team she will receive huge investment from the state and her future will be very bright. Irrational investment has hindered the development of many talents of Vietnamese sports, for example chess players Dao Thien Hai, Truong Son or Anh Dung, who have shown signs of stagnation since they lack opportunities to play in international contests. Le Quang Liem’s future will be the same when he can’t devote his mind and life to chess but has to study at school to prepare for his future life. “People like Quang Liem, Truong Son and Thien Hai are rare in Vietnam. We now have only five great masters of chess. Those transcendent heads, if they focus on studying at school only, will easily find a good job to earn a high salary. If they pursue the career of a chess player, after they stop playing chess, they can only work as a chess coach and earn a low salary. So who dares to let their children pursue such a sports career?” Khanh asked. So, a thorough change for investment in sports is a must. (Source: Tuoi Tre)