Numerous challenges are facing the export of Vietnamese coffee, which has continually declined in both volume and value since the beginning of this year. (Photo: hanoimoi.com.vn) Hanoi (VNA) – Numerous challenges are facing the export of Vietnamese coffee, which has continually declined in both volume and value since the beginning of this year. In the first four months of 2019, 629,000 tonnes of coffee worth 1.1 billion USD was shipped abroad, down 13.4 percent in volume and 22.5 percent in value year-on-year. The export is forecast to continue the downtrend in May as domestic and global coffee prices are still falling, according to the Agro Processing and Market Development Department under the Ministry of Agriculture and Rural Development. The department’s Acting Director Nguyen Quoc Toan said domestic coffee prices are currently below 30,000 VND (1.28 USD) per kg – the lowest in a decade. Prices in international markets have also dropped by 500 USD per … [Read more...] about Internal, external factors challenge Vietnam’s coffee exports
The Hanoitimes - The Vietnamese leadership seems to have been inspired by Singapore and the Nordic countries which would ensure more sustainable and equitable growth. Hanoi attempts to trim 10% public servants by 2021 Vietnam is striving to become a potential investment hub, a process inspired mostly by the US-China trade tensions driving more capital flows from China, and the US-DPRK summit that has drawn attention of the whole world. Vietnam's GDP growth rates compared to Southeast Asian peers. Photo: Oxford Economics The Hanoi summit will likely drive more foreign direct investment (FDI) into Vietnam, thereby sustaining the country's fast-growing economy. But in the long run, the country cannot rely on such windfalls. Leaders recognize both opportunities and challenges for the process, addressing a series of problems to overcome, mostly threats of graft, according to Tran Le Thuy, a Hanoi-based journalist and researcher. Anti-corruption … [Read more...] about What challenges Vietnam on way to become potential investment hub?
After topping Southeast Asia with AFF Cup 2018 last month, Vietnam plays an even bigger tournament, the AFC Asian Cup 2019. Vietnamese fans eagerly await good games from their men’s football team at the AFC Asian Cup 2019 held in United Arab Emirates (UAE) from January 5 to February 1. Vietnam will compete at the AFC Asian Cup 2018 as the Southeast Asian champions. Photo by VnExpress/Duc Dong For this tournament, coach Park Hang-seo has rung in a few changes in the 23-man squad, leaving out some AFF Cup heroes including forward Nguyen Anh Duc and midfielder Nguyen Van Quyet. He has added younger faces in their stead. The Vietnamese team’s best Asian Cup outing was in 2007, when they reached the quarterfinals. For the first time, the Asian Cup tournament will be contested by 24 teams, having been expanded from the 16-team format that was used from 2004 to 2015. Under the new format, six groups of four teams each will contest the first stage, … [Read more...] about A bigger challenge: Vietnam’s schedule for AFC Asian Cup 2019
The Hanoitimes - It is difficult to maintain the same growth rate of the last 30 years in the next 30 years. In the new context, it would be very challenging for Vietnam to escape the middle-income trap and become an upper middle-income country, according to Prime Minister Nguyen Xuan Phuc. Overview of the forum. Source: VGP. Phuc acknowledged that Vietnam could face the risk of being left behind and falling into the middle-income trap. Over the past few years, the country has been dealing with three major strategic bottlenecks, including the institutional reform, infrastructure and human resources, Phuc said at the Vietnam Reform and Development Forum 2018 held on December 5. However, the result left much to be desired and below the country’s expectation for growth in the next period, Phuc continued. He expected more support from donors and investors during Vietnam’s quest for development in a world of globalization. He said … [Read more...] about Escaping middle-income trap is challenging: Vietnam PM
The first-ever Fintech Challenge Vietnam 2017-2018 (FCV) crowned Weezi Digital for addressing Vietnam’s need for financial solutions and helping the country fulfill its financial inclusion goals. Vietnamese fintech Weezi Digital has been granted $25,000 to continue launching biometric solutions to help financial institutions take on mobility and digitalisation in order to shape the future banking and payment landscape in Vietnam. Weezi Digital’s representative said they collaborate with banks to enhance and bring a level of technological knowledge and the banks’ services to customers at Vietnam National Finteh Day held on May 30. The first and second runners-up are KIU Global and Wecash. KIU Global, which received $15,000, is known as a cross-border B2B platform supporting SMEs in Southeast Asia, while Wecash ($10,000) is a fintech arranger with a credit scoring engine powered by machine learning and big data from non-traditional sources to facilitate faster and … [Read more...] about Weezi Digital named as winner of Fintech Challenge Vietnam