Digital transformation plays a vital role in agricultural development To achieve ambitions to become a modern-oriented industrialised nation by 2030 and a developed country with high income by 2045, Viet Nam must succeed in the digital transformation process, in which agriculture is one of the priority areas, Minister of Foreign Affairs Bui Thanh Son said. Minister Son gave the statement at the Vietnam Agricultural Digital Transformation International Forum 2021, themed “Keeping up with market trends, ensuring the pivotal role of the economy during and after the COVID-19 pandemic.” which was held virtually on Thursday by the Ministry of Foreign Affairs (MOFA), the Vietnam Digital Agriculture Association (VIDA), and e-newspaper VnExpress. The forum is a place for dialogue and public-private policy activities between the Government, private sector and stakeholders. It was also an activity within the framework of the Vietnam International Agricultural Exhibition 2021 (AgriTech Expo …
E-commerce turns small businesses into big cross-border traders
Many business owners have found major partners after joining international B2B marketplaces. Vihaba is a small and medium enterprise that exports and distributes agricultural products, handicrafts and garments. Since the enterprise began selling products on Alibaba, its revenue has increased by 55 percent over the last two years. Vietnam’s products are exported to many big markets, including the EU, US, the Middle East and Southeast Asia, thanks to the e-commerce platform. A representative of the company said the company makes the most of the e-commerce platform to effectively manage clients and improve the advertisement of products. DSW received orders soon after entering Alibaba. Its CEO Tran Thi Yen Phi said since the day of getting the first order worth $3,000, the company’s export turnover reached $400,000 a month. Ten percent of that comes from the contracts it gets via Alibaba. DSW has expanded its business scale, exporting products to 10 markets, while its staff …
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Vietnam’s auto market hits bottom
Although car manufacturers have cut prices deeply to stimulate demand, the Vietnamese auto market witnessed a record decrease in monthly sales over the past five years when fewer than 9,000 cars were sold in August 2021. Vietnam's auto market has declined for 5 consecutive months. According to the Vietnam Automobile Manufacturers Association (VAMA), a total of 8,884 vehicles were sold in August, a drop of up to 45% compared to July. This is the 5th consecutive month the auto market recording a decline in retail sales and is also the month with the lowest sales in the history of the Vietnamese auto market since 2015. Monthly sales began to decline from April, when the fourth wave broke out, with 3.7% compared to March, while the decrease of May was 15% compared to April, the decrease of June was 8% compared to May, and the decrease of July is 32% compared to June. Since the fourth outbreak, many factories of VAMA members have had to suspend production sometimes. …
Adversity brings wisdom: new business ideas arise during pandemic
T-shirts with images of personal QR Codes containing vaccination information have been launched in the market. Local newspapers report that Hanoi has asked the Ministry of Health to give guidance on allowing people who have two vaccination shots to travel. This has spawned several business ideas. Citizens may have to show their printed vaccination certificates or QR Codes certifying vaccination. If they use QR Codes, they will have to use smartphones and have their QR Codes scanned at checkpoints. To make the process convenient and time saving, personal QR Codes can be printed on T-shirts. If so, they will not have to show their smartphones to officers at checkpoints. The price of one T-shirt, including the printing fee, is VND100,000-150,000. Nguyen Truong Vu, a T-shirt seller, said that he can print the customized QR Codes. “The T-shirts help their owners scan QR Codes very quickly and conveniently. The owners don’t have to spend time to take their smartphones from …
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Tetra Pak expands investment in Vietnam
Tetra Pak's factory in Binh Duong (Photo: Tetra Pak) Binh Duong (VNS/VNA) - Tetra Pak has announced an additional investment of five million EUR in its 120 million EUR packaging material factory in southern Binh Duong province. The additional investment reaffirms its confidence in Vietnam's economic rebound from the COVID-19 pandemic and its continuing commitment to support food and beverage producers in Vietnam. “This additional investment of five million euros reflects our confidence in the strong recovery of Vietnam’s post-pandemic economy ,” said Eliseo Barcas, Managing Director for Tetra Pak Vietnam. “This investment also enables us to better serve our customers by offering greater capacity, more exciting packaging innovation and reducing our environmental footprint.” The new investment is expected to increase the factory’s annual output from the current 11.5 billion to 16.5 billion packages, thereby meeting the growing needs for aseptic packages in Vietnam …
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Businesses propose new regulations to replace Directives 15, 16
Associations of businesses have asked the Prime Minister to issue new directives on pandemic prevention and control to replace Directives 15 and 16 with regulations that fit the new circumstances. Localities should be allowed to conduct random examinations on people in transfer vehicles at departures and destinations. Enterprise associations in the fields of textile and garment, footwear, beverage, plastics, seafood processing, paper and pulp, forestry, dairy production, and food and foodstuff signed a document to Prime Minister Pham Minh Chinh containing a strategic proposal on "preventing and controlling the pandemic by points" to recover production and business safely in the new conditions. The social distancing during the fourth Covid-19 outbreak in Hanoi, HCM City and southern provinces has lasted 2-3 months, which has put a lot of businesses at risk of going bankrupt, disrupted supply chains, and caused workers to lose jobs, and made it more difficult for farmers and …
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Vietnam should make economy go circular: Swedish experts
Hanoi (VNA) – Embracing circular economy will help Vietnam respond to natural resources starvation and environmental pollution, while heading towards sustainable economic development, Swiss experts said at a workshop held by the Swedish Embassy, the Ministry of Natural Resources and Environment and the Hanoi People’s Committee on November 12. Deputy minister of Natural Resources and Environment Vo Tuan Nhan said Vietnam is facing formidable challenges in natural resources starvation (Photo: VietnamPlus) waste collection and recycling as main barriers for Vietnam when applying the circular economic model. th in the world for ocean plastic waste pollution. Although there are no official statistics on the amount and varieties of plastic in the Vietnamese sea and islands, plastic waste is easy to see in Vietnamese waters, with the country’s 112 estuaries being the main gateways of plastic to the ocean. A wealth of experience in recycling revolution from Sweden …
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State Bank of Vietnam to enforce monthly cap on e-wallet transactions
The State Bank of Vietnam, which is the country’s central bank, has issued a new fiat to restrict an e-wallet user’s monthly transactions to no more than VND100 million (US$4,324). This payment cap is stipulated in Circular 23/2019/TT-NHNN dated November 22. The order will take effect on January 7, 2020. A user’s transactions to pay for legitimate goods and services and tranfer money between e-wallets powered by the same company are limited to VND100 million a month, according to the circular. The central bank has crossed out a proposed article capping the transactions’ value at VND20 million ($865) a day. Such abolition of a daily cap will spur cashless payment, e-wallet service providers said. The fiat also requires that users top up their e-wallets via checking accounts, debit cards, or transfers from their peers, who use the same e-wallet service. Users are permitted to use e-wallets to pay for goods and services, transfer money to other users, and credit their …
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American investor earns VND1,000 billion from Vietnam’s hot stock
The largest private equity fund management company in the US has just sold Vinhomes shares and made a profit of more than VND1,000 billion (nearly US$ 43.5 million) after a year. According to Ho Chi Minh City Stock Exchange (HOSE), Viking Asia Holdings II PTE. LTD - an organization related to the largest private equity fund management company in the US - KKR - has sold 31.96 million Vinhomes shares (VHM) during the period from August 18 to September 14, when VHM was priced at around 110,000 VND/share. At this price, the organization could collect nearly VND3,500 billion, earning a profit of more than VND1,000 billion after more than one year holding the shares. In June 2020, this organization bought VHM shares at the price of VND75,000 per share. After the transaction, the ownership of Viking Asia Holdings II PTE. LTD decreased from 5.5% to 4.6% of charter capital and is no longer a major shareholder in VHM. This means that it will not have to publish its next …
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Last train of Hanoi’s second metro route arrives in Vietnam
The last train of the second urban railway project in Hanoi was shipped from France to Hai Phong Port on Thursday and will be transported to the capital city soon, the Hanoi Metropolitan Railway Management Board (MRB) reported. This project, the Nhon - Hanoi railway station route, has a rolling stock of 10 trains designed by French manufacturer Alstom, with the first train delivered to the port of Hai Phong City on October 18, 2020. Each train, with a designed speed of 80 kilometers per hour and a commercial velocity of 35 kilometers per hour, can carry 944 to 1,124 people, with a density of about 6.6-8 people per square meter. The trains, each of which has four carriages, can operate continuously on the standard gauge railway of 1.435 meters. The train body is made of aluminum alloy, which is light, durable and environmentally friendly. With their low floors, the trains are convenient for passengers to get on and off, especially those bringing luggage or using wheelchairs. …
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