Drinking tea has become a cultural practice in people’s lives, with a variety of products being consumed such as packaged tea, fruit tea, and milk tea. System expansion Vietnam's tea market is valued at US$3.1 billion in 2022 and is expected to reach approximate $3.7 billion by 2025, according to Statista statistics. A separate report on the milk tea market by Momentum Works and qlub showed that Vietnam is the third largest milk tea consuming market in Southeast Asia, with a scale of $362 million. Milk tea is inherently an easy product to copy while Vietnam is a price-sensitive market. However, a research by Momentum Works emphasized that price is not the only factor influencing customers' decision to buy a drink. Instead, that choice depends on the types of products offered in stores and the brand coverage. Established in 1968, Phuc Long is a tea and coffee brand that is popular with young people and distinguished by drinks that combine bold and typical flavors with a … [Read more...] about What makes Phuc Long a phenomenon in Vietnam?
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Prime Minister Pham Minh Chinh attended a business forum as part of his visit to Luxembourg on December 9 (local time). Prime Minister Pham Minh Chinh at the forum (Photo: VNA) Luxembourg is running 58 projects worth over 2.6 billion USD in Vietnam, ranking 17th out of 141 countries and territories investing in the Southeast Asian nation, according to the forum’s organisers. Luxembourg is also the third largest European investor in Vietnam, with capital mainly poured into information-communications, and real estate. The two-way trade reached 96 million USD in 2019, 110.7 million USD in 2020 and 181.6 million USD last year, a rise of 64%. The forum was intended to identify investment potential and opportunities of each side, thus enabling businesses, investors and international organisations to make investment decisions. In his remarks, PM Chinh said Vietnam is building three pillars of society –socialist democracy, a law-governed socialist State and … [Read more...] about PM attends Vietnam-Luxembourg business forum
Deputy Minister of Finance Nguyen Duc Chi in his virtual speech at the 5 th Annual Corporate Governance Forum More than 100 executive directors from Vietnam’s largest listed companies and investment funds, state-owned enterprises, and prominent private conglomerates, also attended the forum and exchanged their international expertise. The increasing importance of environmental – social – governance (ESG) criteria plays a crucial role in many corporations' and countries’ strategic development. In particular, corporate governance becomes extremely essential as the market observes businesses with solid governance practices recovering and sustaining growth momentum two years after the epidemic. In the current market volatiles, leaders' flexibility and willingness to adjust their strategy and behaviour are important components for transparent, efficient and sustainable corporate governance, exceeding regulatory requirements. With an integrated system that includes Climate … [Read more...] about 5th Annual Corporate Governance Forum held by VIOD and VIR
Transactions at SHB. This year marks a strong transformation for SHB with impressive business results. — Photo courtesy of the bank SHB successfully issued more than 400 million shares to pay dividends in 2021 at the rate of 15 per cent, raising its chartered capital to VND30.6 trillion (US$1.3 billion), according to information from the State Securities Committee on Thursday. This is an important foundation to help SHB increasingly improve its reputation with the domestic and foreign investment community as well as international credit rating agencies. SHB is carrying out the prescribed procedures to register, deposit, list additionally issued shares and put them into official trading at the end of this month. The charter capital increase is part of SHB's development plan and was approved at the General Meeting of Shareholders, aiming to improve financial capacity, expand the lending scale, and invest in information technology. It especially promotes banking digitisation, … [Read more...] about SHB completes issuance of 400 million shares, increases charter capital to $1.3 billion
The north of Viet Nam's IP has attracted lots of foreign direct investment (FDI) enterprises. Frasers Property Group launches the first internationally branded serviced apartment in Vinh Phuc to serve foreign experts serving those enterprises. — Photo courtesy of Frasers Property Group Frasers Property Group launched the first internationally branded serviced apartment in the satellite city of Vinh Phuc, which is home to 400 foreign direct investment (FDI) enterprises. Earlier this month, Viet Nam was ranked in the top Baseline and Cost quartile in the latest Manufacturing Risk Index 2022 by Cushman & Wakefield, whose report noted the country was among markets benefiting from the China+ approach of foreign investors. The report said Viet Nam has seen rapid expansion of its industrial sector over recent years, adding that the market benefited from geographical connectivity both within the region and to markets outside of the region. Signing an operation and management … [Read more...] about Serviced apartments increase as IPs grow