Markets

A data centre of FPT (Photo: fpt.vn) Hanoi (VNS/VNA) — Vietnam is rated one of the 10 emerging markets in the global data centre market , with impressive growth, international standard service delivery capacity, and a large number of organisations and enterprises, research firm ResearchAndMarkets has said. The Vietnamese data centre market stood at 858 million USD last year and is forecast to grow at a compounded annual growth rate of over 14.64 percent until 2026. The growth in the Vietnamese data centre market was driven by government projects and initiatives, the report said. Data protection is a matter of global concern and is becoming an important issue on the agenda of the Vietnamese Government . The data localisation requirement under the Cybersecurity Law, plus the need for better processing speeds to assist Vietnamese users are the main drivers, which are anticipated to significantly enhance the demand for data centres in the country. The Vietnamese …

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The Vietnamese data centre market is forecast to grow almost four-fold between 2016 and 2026. Source: Researchandmarkets.com The growth in the Vietnamese data centre market is driven by government projects and initiatives in the country. Data protection is a matter of global concern and is becoming an important issue on the agenda of the Vietnamese government as well. The data localisation requirement under the Cybersecurity Law, plus the need for better processing speed to assist Vietnamese users are the main drivers, which are anticipated to significantly enhance the demand for data centres in Vietnam. The Vietnamese government's inclination toward digitalisation has further bolstered the demand for data centres across the country. Furthermore, the Vietnamese data centre market is driven by the shifting of enterprises' data to cloud platforms. This has led to an increase in the adoption of data storage solutions, which in turn is expected to positively influence the growth …

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Vietnam's express delivery market has been soaring since the coronavirus pandemic The report points out that many domestic express delivery companies are operating in Vietnam and they are constantly witnessing huge growth by investing in the adoption of modern technology to meet the expanding demand in the delivery of goods through e-commerce. High adoption of express delivery services has been observed across major essential sectors, such as food and beverages and healthcare. The demand from Vietnamese customers to receive the items on the same day or in a day's time has increased over the years. The highest adoption is noticed across the healthcare sector. In the healthcare sector, the high demand for quality, availability, accuracy, and cost control place similarly high expectations on logistic solutions. Thus, the above-mentioned factors are likely to influence the growth of the Vietnam express delivery services market during the forecast period. The emergence of …

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The northern province of Hung Yen expects to harvest 50,000 - 55,000 tonnes of the fruit this year, 15 - 20 percent higher the output last year. (Photo: VNA) Hanoi (VNA) – The largest-ever international teleconference seeking buyers for longan and other agricultural products from the northern province of Hung Yen was held on July 15, Vu Ba Phu, Director of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency (Vietrade) told reporters. Sustainable Trade for Longan and Specialty Agricultural Products of Hung Yen Province 2021” gathered Vietnamese trade offices and embassies as well as foreign trade promotion agencies, partners, and importers from 22 countries and territories including the UK, Australia, Poland, Belgium, the US, France, Germany, Japan, the Republic of Korea, mainland China, Singapore, Taiwan and Hong Kong (China). Ten trade promotion organisations and foreign diplomatic representatives also participated in the event from Vietnam. Hung Yen …

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Travelers could purchase a tour packages and depart at any time before the end of next year. A representative of Hanoi-based CEO Travel said the company has been offering a voucher to stay at 5-star Best Western Premier Sonasea Phu Quoc Hotel with prices starting from VND499,000 ($21.71) a person, including a one night stay in a Deluxe Garden View room, free take-away breakfast, airport pick-up and drop-off and free entertainment services. This price has decreased by more than 50 percent after the new wave reemerged in late April. The validity of the voucher extends until the end of 2022. Since July 15, the company has sold more than 20,000 vouchers. Phu Quoc Island is one of top tourist destinations in Vietnam and is planning to welcome vaccinated foreign tourists back from October. Nguyen Duc Hieu, chief sales executive at Hanoi-based tour operator Aadasia Holidays, said his company has been providing travel vouchers with prices reduced from 20 to 50 percent, allowing …

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By the end of the second quarter of 2021, the company recognised net after-tax profit of VND2.014 trillion ($87.57 million), up 71 per cent on-year. Total consolidated revenue including revenue from sales of goods and service rendering was about VND7.097 trillion ($308.57 million), an increase of 282 per cent over the same period in 2020. Of this, revenue from sales was VND6.344 trillion ($275.83 million), up by 541 per cent on-year, mainly contributed by project handover such as Saigon Royal, Aqua City, NovaHills Mui Ne, Victoria Village, NovaWorld Ho Tram, NovaWorld Phan Thiet; revenue from service rendering and others reached nearly VND753 billion ($32.74 million). As of June 30, 2021, the company’s total assets were recorded at VND171.5 trillion ($7.46 billion), up 18.7 per cent on-year. Inventories were recorded at VND103.241 trillion ($4.45 billion), up 18.9 per cent year-to-date, mostly from an increase of project development costs at Aqua City, NovaWorld Phan Thiet, NovaWorld …

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Nguyen Manh Hung Minister of Information and Communications Telecommunications revenues rose 5 per cent, mainly attributed to mobile broadband (up 14 per cent) and fixed broadband (up 8 per cent). However, phones and texting strongly fell at 11 per cent. Therefore, to enable high growth, we cannot rely on only traditional spaces – we need new spaces for development. This means an extension of telecommunications concepts and business if we want to grow over 10 per cent. The broadband rate, both mobile and fixed, rose 35 per cent but the national international ranking remains in the top 60. Thus, mobile network operators have to pay more due attention to service quality. Our target is to be in the top 30. The ministry has completed a measurement system on service quality and will measure and announce on the quarterly basis. There are some important issues to be focused on from now to the end of the year. First is completing digital technology platforms to serve COVID-19 …

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Illustrative photo (Source: VNA) Hanoi (VNA) – Vietnam ranks 39th among 160 countries and territories, and third in the Association of Southeast Asian Nations (ASEAN) in logistics performance index ( LPI ), heard a workshop held by the Ministry of Industry and Trade (MoIT) on July 30. The country is also placed among the top emerging markets with a growth rate ranging from 14-16 percent, Deputy Minister of Industry and Trade Tran Quoc Khanh said. The official highlighted in an increase in the number of logistics firms, and improved logistics services, saying they are the outcomes of efforts made by both businesses and the Government. Tranh Thanh Hai, Deputy Director of the MoIT’s Agency of Foreign Trade , said Vietnam’s total export-import revenue in the 2010-2020 period tripled the value recorded earlier. The logistics sector plays a significant role in the national economic development, including export-import activities, goods circulation at home and …

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According to the Vietnam Automobile Manufacturers Association, Vietnamese consumers bought 150,481 units, up 40 per cent on-year in the first six months of 2021, in which passenger vehicles saw sales rise 37 per cent, and commercial vehicles grew 48 per cent. The recovery of the car market has nevertheless slowed in 2021 as many dealers such as Toyota, Ford, and Mitsubishi in Ho Chi Minh City, Hanoi, and other provinces had to suspend operations to adhere to social distancing measures. For June only, the total industry reached 23,587 units, down 8 per cent on-month, of which 15,802 units were passenger cars (down 10 per cent versus the previous month), and commercial vehicles at 7,131 units (down 5 per cent). Among automobile manufacturers and traders in Vietnam in June, except for VinFast, Honda, and Suzuki, which still maintain growth momentum, the sales of the remaining car manufacturers in the market have all decreased significantly. This includes Ford, which saw sales drop …

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An online forum has been organized to discuss solutions to help 19 southern provinces sell their farm produce. Nineteen provinces in the south are experiencing social distancing with restricted travel. It now the high fruit harvesting season with high output that needs to be consumed. A report showed that the provinces need to sell 32,000 tons of mango a month, 41,000 tons of bananas, 48,000 tons of dragon fruit, 25,000 tons of durian, 10,000 tons of rambutan and 20,000 tons of longan. According to Taskforce 970 in charge of coordinating producers and distributors of farm produce for southern provinces amid the pandemic, as of 3 pm on July 26, 414 distributors had registered to provide farm produce with the taskforce, including 107 fruit and 103 vegetable distributors. The problem lies in transportation. It is difficult to carry farm produce to consumption points. The Ministry of Transport’s QR Code registration system is often overloaded for many hours. Many cities and …

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