Supply chain books

Pharma industry picks up the pace in digital. Photo: freepik.com Nguyen Hoang, co-founder and CEO of pharma supply chain specialists thuocsi.vn, realises that as there are no major multi-brand distributors in Vietnam, most pharma manufacturers and brands end up building their own networks, fragmenting the process of providing prescriptions and supplies to healthcare providers. This results in distributors serving over 40,000 independent pharmacies and an estimated 5,000 independent clinics. “The pandemic has forced stakeholders in industry to go digital faster than ever before,” Hoang said. Thuocsi.vn has resolved this fragmentation by building a pharmaceutical distribution marketplace to simplify the distribution system. The platform has an extended network of 700 verified suppliers, distributors, and manufacturers, serving over 7,000 healthcare providers. This month, the startup has secured $8.8 million in its latest funding round led by South Korea’s Smilegate Investment …

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Hanoi tax authorities collect taxes from Google and Apple content developers The Hanoi Department of Taxation have collected over VND39 billion (USD1.69 million) from content developers on Google and Apple during the first seven months of this year. The Hanoi Department of Taxation have collected over VND39 billion (USD1.69 million) from content developers on Google and Apple during the first seven months of 2021. Illustrative photo According to the department, they have collected taxes from 392 people that provide content services on various applications including Google Play and Apple Store. The department have collected VND 203 billion (USD8.83 million) in taxes from these content developers since 2018. The municipal tax authorities are also seeking to collect more taxes from online businesses. They are checking on the information of 32,085 businesses that are using online delivery services and 756 housing rental businesses. The department has co-operated with banks and …

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Vietnam continues to be attractive investment destination: HSBC The Vietnamese market will remain an attractive investment destination for foreign investors moving forward, the Hong Kong Shanghai Banking Corporation (HSBC) Vietnam said in its monthly macroeconomic update for September 2021. The bank cites statistics from the Vietnam Leather, Footwear and Handbag Association (LEFASO), noting more than 30% of garment makers have suspended production, prompting garment exports to drop by 4.5% in August compared to the previous month. Notably, Vietnam’s leather and footwear industry currently makes up 15% of the world’s market share, a two-fold increase during the past 10 years. Vietnam is also one of the world’s largest textile and garment makers, just behind China and Bangladesh. However, Vietnamese exports of mobile devices and components recorded a sharp increase in August, achieving an annual growth rate of 11%. Meanwhile, exports of computers and electronic products also …

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The trend of shoppers going online en masse is driving demand for cold storage facilities in most countries, with Vietnam seemingly among those with a severe short supply. “Recently we installed a cold storage with a large capacity for a customer in HCM City’s Thu Duc City, but while carrying out trial operation we found that the voltage there dropped, affecting the storage’s performance,” Le Khoa Huy, deputy director of Hai Long Industrial Refrigeration Company, said. An automated cold store of Hung Vuong Corporation at My Tho Industrial Zone, Tien Giang Province. — Photo hungvuongpanga.com Stable power supply is only one of several difficult requirements for enterprises to meet if they want to invest in cold storage supply chains, according to Huy. Analysts concur with Huy, saying cold storage facilities is a highly profitable segment in the logistics industry, but exploiting its potential is not easy for domestic or foreinvestors. The trend of shoppers going …

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In the past Sakuko, which has been selling household items and baby products for 10 years in Vietnam, used to receive its containers of goods from Japan in just one or two weeks. But now it takes one or two months. The rising demand for transportation as the global economy recovers from the pandemic has caused a shortage of containers, and the resurgence of Covid in some countries has led to congestion at ports. "We have to keep booking and rebooking until we find a ship that has slots," a Sakuko spokesperson said. "Transportation takes a long time due to a shortage of ships." Besides, shipping costs have risen by 60-100 percent from pre-pandemic levels. When its containers do arrive, the company faces more transport restrictions. The port city of Hai Phong has been keeping out people coming from Hanoi due to fear of contagion, and so there has been a shortage of truck drivers. "It takes several weeks to transport the containers to Hanoi," the spokesperson said. …

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Hanoi's residents show their eagerness to revisit street food stalls and pick up their favorite dishes. After nearly two months spent at home due to social distancing order, numerous Hanoi residents trickled out to the streets, searching for the local delicacies they have been craving in a happy mood. Le Thi Hong Lien, a 30-year-old reporter in Hanoi, pulled up at her favorite bun cha (grilled pork with rice noodles) stall on Tran Dang Ninh Street in Cau Giay District and showed her eagerness to revisit street food stalls and pick up her favorite dishes. “It feels nice being out on the street after spending weeks cooped up in the house,” Lien told The Hanoi Times . Phung Van Ve, the owner of the bun cha stall, said he started cleaning up his shop immediately after news of the reopening had emerged. “After spending two months at home, this is the day that I have been waiting for. I can finally make some money and stop my body from idling,” Ve was so excited to …

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About 67 per cent of surveyed banks believe they will lose market share within two years if they fail to digitally transform, according to a new... Some 58 per cent of global respondents predict that they will completely cease to exist in the next five to ten years unless they change their business models. — Photo bnews.vn About 67 per cent of surveyed banks believe they will lose market share within two years if they fail to digitally transform, according to a new report from cloud banking platform Mambu and The Financial Times Focus (FT Focus). The ‘Evolve or be extinct’ report was conducted by FT Focus and surveyed over 500 senior banking executives globally to gain insights into their perception of the banking industry, now and in the future. The results illustrate the urgent need for banks to modernise their offerings, with 58 per cent of global respondents predicting they will completely cease to exist in the next five to ten years unless they change …

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Many restaurants in Hanoi cleaned up overnight to prepare for their business resumption after more than 50 days of lockdown. Photo: Duc Thanh Since early September, Ho Chi Minh City has allowed food and beverage (F&B) businesses to provide takeaway services from 6am to 6pm. To ensure that pandemic prevention measures are met, the city has requested such businesses to also apply the stay-at-work model, with continuous coronavirus tests for their staff every two days. Despite the green light, many F&B businesses in the city remain careful. Harry Ang, founder of the Singaporean restaurant chain Lion City told VIR, “It’s a good decision to extend the lockdown and utilise more time for planning the next steps to prevent another outbreak. We have been preparing well, as we know that life will never be the same again. All plans have to be carefully executed according to prevention protocols.” He added that he agrees with the local authorities on COVID-19 tests as a good way …

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HCM City to implement third relief package worth 7.3 trillion VND Ho Chi Minh City will carry out the third relief package worth 7.3 trillion VND (around 320.7 million USD) sourced from the local budget to help more households and informal workers affected by the COVID-19 pandemic, said Vo Van Hoan, Vice Chairman of the municipal People’s Committee. Speaking at a press conference held by the city’s Steering Committee for COVID-19 Prevention and Control on September 20, Hoan said given complicated developments of the COVID-19 pandemic in the city and prolonged social distancing, people face more difficulties due to job loss and having no income. Therefore, in addition to the social security relief packages of the city's Vietnam Fatherland Front Committee and other organisations and individuals, the municipal People's Committee continues to implement the third relief package to help ease difficulties for local residents. According to reports from the People's Committees of …

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