Vietnam upgrade to emerging market

Illustrative photo (Source: VNA) Hanoi (VNA) - Vietnam is emerging as a good option for Kiwi exporters looking to diversify where they sell their goods, said New Zealand’s new site 1news .co.nz in a recent article. The article cited the Ministry of Foreign Affairs and Trade of New Zealand’s report prepared by the Embassy in Hanoi as saying between 2016 and 2021, Vietnam led ASEAN in terms of growth per capita. This growth rate is higher than that of other major ASEAN markets such as Singapore, Malaysia, or the Philippines Trade Commissioner Joseph Nelson said Vietnam is a "frontier market" presenting new opportunities, and challenges, to Kiwi exporters looking to diversify. "As Vietnam has come out of its COVID waves, we are seeing a really strong bounce back in the economy. GDP is expected to be between 6.5% to 7.5% next year," he said as quoted by the article. "All the markets in Southeast Asia are bouncing back quite strongly, but Vietnam definitely is the best … [Read more...] about Vietnam’s economy lures New Zealand exporters

Binh Tran and Eddie Thai, co-founders & general partners of Ascend Vietnam Ventures Binh Tran and Eddie Thai, co-founders & general partners of Ascend Vietnam Ventures, have been investing together in Vietnam since 2015 and have backed home-grown international successes such as NFT gaming unicorn Axie Infinity, AI-driven edtech ELSA, and financial inclusion fintech Trusting Social. With AVV Alpha, the team has increased their investments in startups in Vietnam, seeding up to $2 million into 25 startups by next year and following on with checks of up to $5 million. “The likes of Axie Infinity, ELSA, and Trusting Social are by no means isolated successes,” said Binh Tran. “Vietnam’s dynamism, accessibility, low cost of living, as well as abundant quality engineering talent attract many founders. On top of that, many tech solutions built here can address similar challenges and customer behaviours in other emerging markets worldwide. Vietnam will continue to be seen as … [Read more...] about Ascend Vietnam Ventures surpasses $50 million target

The compact format of AEON The Nine has an area of 1,000-5,000 square metres. These shops are in urban and residential areas, aiming to bring A eon's quality closer to customers AEON The Nine is the first store to be launched as a compact store by Aeon. The first store is located in an area of 1,200sq.m, with a food court and a supermarket. To meet the customers' needs for convenience in daily meals, the Delica food court offers a variety of ready-to-eat products, which are typical of AEON such as bread and cakes, coffee, sushi, and Japanese bento. With a spacious seating area, many young customers can also choose AEON The Nine as a place to work and study every day or meet friends on the weekend. The supermarket area in AEON The Nine has a full range of products from fresh flowers to fresh, dry, and frozen food. There are also healthcare and beauty products, as well as many other household products. There is also an area dedicated for mothers and babies with a … [Read more...] about AEON Vietnam launches new retail format in Hanoi

Roads, airports, and seaports are being looked at by overseas companies in terms of investment feasibility, Photo: Shutterstock On June 16, Hoang Gia Khanh, deputy general director of state-owned railway giant Vietnam Railways (VNR), received a delegation of Austrian businesses at its headquarters who introduced new products and technology solutions aiming to seek opportunities in the local industry. The commercial counsellor of the Austrian Embassy in Hanoi said that businesses expect to intensify cooperation with VNR, specifically those in funding and upgrading projects, as well as machinery upgrading and maintenance. He added that besides official development assistance, the Austrian government also has other financial tools that can help VNR access financial resources and technologies. According to Khanh, investment demand for the industry’s infrastructure development is huge and he highly appreciates the products and technology of groups like Plasser & Theurer and … [Read more...] about Reopening increases foreign interest in transport upgrade

Vietnam urged to upgrade to attract big rubber funding, photo Duc Thanh As international purchasers increasingly demand products that adhere to strict ethical, legal, and environmental standards, analysts and foreign buyers, including those from the United States and Germany, warn that a lag in production is likely to jeopardise Vietnam’s rubber sector. Vietnam has the fifth-largest rubber cultivation area in the world with almost 940,000 hectares. However, the country ranks third globally for its output, producing some 1.26 million tonnes in 2020, according to a report by the Vietnam Rubber Association. According to the same report, exports of natural rubber products (rubber blocks and concentrated latex), rubber products (tyres, medical supplies, and shoe soles), as well as rubber timber, have increased dramatically from $2.9 billion in 2015 to approximately $9.5 billion in 2021. According to Jeff Martin, CEO of Yulex – a global company headquartered in the US, … [Read more...] about Vietnam urged to upgrade to attract big rubber funding

A grape orchard in An Giang Province has recently emerged as a popular weekend getaway destination for youngsters across Vietnam thanks to its innovative tourism model. According to the observation of Tuoi Tre (Youth) newspaper reporters, the grape orchard of Nguyen Van Men, a 73-year-old farmer, in Long Kien Ward, Cho Moi District, An Giang Province attracted nearly 100 visitors on Sunday. The entrance fee is merely VND20,000 (US$0.86) per person for forty minutes of grape garden exploration. As the first grape vineyard in An Giang to welcome tourists, the garden has attracted a large number of curious visitors. Nguyen Thi Thuy Trang, a resident of Cho Moi District, claimed that the combination of garden ecology and tourism is a service that has the potential to boost gardeners' revenue. The service provides children and adults with a unique opportunity to spend a relaxed weekend with their families. Nguyen Thanh Hai, a tourist from the provincial city of Long Xuyen, … [Read more...] about This grape orchard in Vietnam’s Mekong Delta is a mecca for tourists

Deputy Foreign Minister Pham Quang Hieu  speaks at the conference (Photo: VNA) Hanoi (VNA) - A conference on promoting international cooperation for developing Vietnam's Halal industry was held by the Ministry of Foreign Affairs in collaboration with the Ministry of Agriculture and Rural Development (MARD) on June 28 in Hanoi in both in-person and online forms. The conference aimed to assess the current situation and prospect of the Halal industry in Vietnam, discuss ways to promote cooperation and take advantage of international resources to expand the presence of Vietnamese enterprises in production and supply chains of Halal products and services worldwide, and work out orientations for comprehensive and sustainable development of Vietnam's Halal industry until 2030. In his speech at the event, Deputy Foreign Minister Pham Quang Hieu said Vietnam boasts great potential and advantages for developing the Hall industry, and affirmed that the Vietnamese government … [Read more...] about Vietnam eyes stronger development of Halal industry

Workers processing fish at a Vĩnh Hoàn Corp.'s factory. VHC was the leading stock in the seafood sector backing the market pick-up yesterday. Photo kinhtechungkhoan.vn HÀ NỘI — The market closed largely unchanged on Wednesday as bullish and bearish sentiments entered a tug-of-war. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index started off the afternoon with a double-bottom pattern but broke above the neckline at around 2pm to begin an upward trend. The buying and selling forces cancelled each other out, leaving the index more or less stable at 1,218.09 points, down 0.01 points compared to the previous session. The market’s breadth stood visibly negative as 190 stocks declined while 156 advanced. Notably, eight stocks reached ceiling prices and only one hit floor prices. The market’s liquidity was relatively low with 519 million shares traded on the southern bourse, equivalent to just over VNĐ10.4 trillion (US$448 million). The 30 biggest stock tracker VN30-Index … [Read more...] about Market caught in tug-of-war closes unchanged

" Rediscover Vietnam ” is co-held by Thien Minh Group and national flag carrier Vietnam Airlines for travel promotion in Australia. (Photo: VNA) Sydney (VNA) – The Government of Vietnam has reopened its borders to welcome travellers from Australia, New Zealand and other countries to Vietnam, Vietnamese Ambassador Nguyen Tat Thanh told a trade and travel promotion conference in Australia on June 28. travel promotion events held in multiple countries, including the UK, Germany, France, the US, Japan and the Republic of Korea. The Vietnamese diplomat pledged to provide all possible conditions for Australian travellers and travel agencies to gain access to the Vietnamese market and explore the Southeast Asian country. The airline is operating seven direct flights connecting Vietnam and Australia weekly. The number of flights will be increased to 11 in July and 16 in October, he added. VNA … [Read more...] about Travel promotion “Rediscover Vietnam” held in Australia

Rapid economic development often results in serious impacts on forests, evidenced by the alarming deforestation in Phu Quoc City in the Mekong Delta province of Kien Giang having plunged the city’s forests into a state of emergency. Forests are regarded as the living soul of residents on the 'pearl island.' However, the woods full of stone stakes and steel wires are disappointing tourists. The situation is becoming truly alarming. Forests seem empty after one unguarded night Deforestation and land encroachment in Phu Quoc City in mid-June 2022 were no longer overt and rampant, but it did not mean that forests stopped 'bleeding.' On the main path from Ham Ninh Commune to Thom Beach, people could easily see excavated mountainsides and forest land areas occupied with concrete stakes, zinc-coated barbed wire fences, and even well-built constructions. “Some gangs secretly encroached and built fences," complained N.X.T., a forest ranger. “During the forest land invasion … [Read more...] about Phu Quoc forests in state of emergency