Quang Ninh tourism sector welcomes 10 million visitors

The number of tourists visiting the northern coastal province of Quang Ninh in the first nine months of this year is estimated to top 10 million, an increase of 25 percent over the same period last year, according to the local Department of Tourism.

Of this, foreign tourists account for over 3.6 million, rising 19 percent, the office further said, adding it plans to welcome a total of 12 million visitors this year on the back of its hosting of the National Tourism Year 2018 with more than 50 cultural, sport and tourist events held throughout the province.

So far this year, the tourism sector of the province, home to the UNESCO-recognized Ha Long Bay, bagged 17.5 trillion VND (about 833 million USD), marking an increase of 30 percent over the same period last year and making up 80 percent of this year’s plan.

To improve the quality of the service, Quang Ninh authorities have been prioritizing investment to the development of infrastructure. Currently, the province houses the Van Don International Airport, the Hai Phong – Ha Long and Ha Long – Van Don expressways which facilitate the expansion of tourism space.

Besides, many other major projects related to tourism in the province continue to enjoy investment, including those in Mong Cai, Van Don, Co To, Quang Yen, Uong Bi, Dong Trieu, etc. In Van Don alone, investors have so far this year started a chain of “super projects” related to tourism with a combined value of 2.7 billion USD.

The tourism operation in the province is said to be maintained, while the state management over the business strengthened and reformed unceasingly. The business environment is moving in a positive direction to ensure its healthiness and effectiveness. All these factors are helping attract major investors to the province.

An Giang province develops giant river prawn farming area

Farmers in the Mekong Delta province of An Giang have bred giant river prawns on 74ha so far this year, up 40.6 percent against the same period last year, according to the provincial Department of Agriculture and Rural Development.

Most giant river prawn farming areas are in Thoai Son, Chau Thanh and Chau Phu districts, and Long Xuyen city.

The breeding of giant river prawns in An Giang has developed since 2000, mostly in ponds or under rice-shrimp rotation models in rice fields.

The breeding of the huge crustaceans in rice fields during the delta’s flooding season has offered farmers higher profits than rice cultivation.

Farmer Trinh Van Dinh, from An Phu district’s Vinh Hau commune, catches giant river prawn fries in floodwaters and then breeds them in his rice field.

This year, Dinh is breeding more than 12,000 giant river prawn fries on a 3,000 sq.m field.  

He is expected to earn 100 million VND (4,400 USD) from harvesting 300 kilos of giant river prawns compared to 200 kilos last year, as floodwaters have been higher than those of last year.

During the flooding season, farmers enclose flooded fields with wooden stakes and nets to farm the prawns, which eat natural food in floodwaters. The higher the floodwaters, the faster the prawns grow.

The area for breeding the prawns increased from 5.5ha in 2000 to 650ha in 2007. However, the province’s giant river prawn farming area shrank in size in recent years because of low quality prawn fries, low yield and losses.

The province is now using advanced farming techniques and breeding only male giant river prawns, according to the department.  

Giant male river prawns grow faster than female prawns and are strongly resistant to disease, and can be harvested within four to six months.

Profits from male giant river prawns have increased by 30 percent compared to traditional farming, according to the province’s Fisheries Breeding Centre.

In recent years, the centre produced all male giant river prawn fries for breeding which helped to cut the number of deaths during the breeding process.

The centre has produced about 18.2 million giant river prawn post-larvae and more than 419 million of prawn larvae so far this year, meeting the demand of male prawn fries for breeding in An Giang and other provinces.

An Giang plans to have 300ha that breeds all male giant river prawn under Vietnamese Good Agricultural Practices (VietGAP) standards by 2020.

Of the figure, 250ha is bred in Thoai Son district and the rest in Chau Phu district.

The province has offered soft loans for farmers to breed giant river prawns and has provided them with farming techniques.

It also covers 50 percent of the cost of prawn fries for farmers who breed giant river prawns under VietGAP standards.

Vietnamese Goods Fair kicks off in Hanoi

The Vietnamese Goods Fair kicked off in Hanoi on September 22, featuring 300 stalls by 200 firms from Hanoi, Bac Kan, Tuyen Quang, Quang Tri, Hung Yen and Bac Giang. 

On display are industrial products such as electronics, electrical devices, household appliances, computers, interior décor, food, beverages, apparel, footwear and other consumer products. 

Favorite products voted by consumers over years, genuine and fake goods are also showcased. 

Processing and export firms, supermarkets, shopping centres, food transaction floors are also invited to a space introducing local signature farm produce to form networking and expand markets. 

The Hanoi Steering Committee of the campaign “Vietnamese people prioritise Vietnamese goods” assigned the municipal Department of Industry and Trade, the Party Committee of the Businesses’ Bloc, the Hanoi Radio Television and the Association of Small and Medium-sized Enterprises to hold a programme to vote Vietnamese goods favoured by consumers from September to November 2018. 

Outstanding Vietnamese goods on display will be introduced for the programme.

The event will last till September 25.

Vietnam Foodexpo 2018 to open in HCM City in November     

Vietnam Foodexpo 2018, the international trade show for food and the food industry in Viet Nam, will take place at the Saigon Exhibition & Convention Centre from November 14-17.

The Foodexpo will enable trade among international and domestic leading importers and distributors of Viet Nam, who are working in food, drinks and processing technology.

Deputy Minister of Industry and Trade Do Thang Hai said he believed that the event would continue to be a prestigious destination for foreign partners to learn about the increasingly diverse and growing supply of Vietnamese food and agricultural products.

“It’s also an opportunity to directly co-operate with Vietnamese agriculture producers and food businesses," said Hai.

Vietnam Foodexpo will have a series of trade promotion activities on the sidelines such as the Vietnam International Food Industry Conference 2018, Saigon International Cooking Contest 2018, Business Cooperation Contract Signing Ceremory, Food Show and Vietnam Foodexpo 2018 Impression Award.

The Ministry of Industry and Trade’s Department for European and American Markets will hold the Viet Nam-Latin American Trade and Investment Forum on November 13, aiming to expand export markets for Viet Nam’s goods, particularly agricultural products and seafood.

The expo will include more than 600 booths from domestic and foreign companies. More than 450 exhibitors and thousands of investors in the food industry will attend the event.

Through three annual exhibitions held since 2015 to now, Vietnam Foodexpo has always been considered the most comprehensive exhibition in the food industry, by converging thousands of products and brands, from raw materials to in-depth processed products, including products that have put Viet Nam on the list of major exporters such as tea, coffee, rice, pepper and cashew nuts to new products in the market such as herbal mushrooms.

Vietnam Foodexpo is also a place where visitors can experience the tropical food of Viet Nam, learn about the capacity of Vietnamese food businesses and seek partners.

In 2017, the Vietnam Foodexpo received over 24,000 visitors, including more than 3,000 international guests from nearly 50 countries and territories.

BMI Research forecasts that Viet Nam’s food industry will achieve annual growth of 10.9 per cent in 2015-20.

Viet Nam helds international conference on export rice     

The Ministry of Industry and Trade will host an international conference on Vietnamese rice in Ha Noi on October 10.

The conference will be held on the sidelines of the Rice Trader (TRT) World Rice Conference in 2018, the world’s premier rice trade conference, which will be held from October 10-12, 2018 in Ha Noi.

The conference is an important opportunity for Vietnamese businesses to meet and seek partners in trading rice and to advertise Vietnamese rice products, according to the ministry.

In addition, the conference will bring solutions to Vietnamese rice exporters to improve the competitiveness of their products against those of Thailand, India or Cambodia, aiming at maintaining the market shares of Vietnamese rice in traditional markets such as the Philippines, Malaysia and Indonesia; and increasing market shares in China as well as expanding export markets in Europe and Latin America.

The conference is expected to attract businesses, corporations and supermarkets importing, trading and distributing rice products such as COFCO (China) and Bernas (Malaysia), reported congthuong.vn.

Viet Nam has exported its rice products to 130 territories and countries, including demanding markets that have strict standards for rice exports. The country is one of the three largest rice exporters in the world.

The TRT World Rice Conference provides the largest annual gathering of commercial and professional rice industry insiders in the world. 

Firms urged to hasten digital transformation     

Digital transformation is a vital step for businesses to stay afloat in the Industry 4.0 era, a seminar heard in HCM City on Thursday.

Dao Trung Thanh, chief technology officer of Media Ventures Vietnam Group, said studies show that while 90 per cent of CEOs believe the digital economy would have a major impact on their industry, less than 15 per cent are funding and executing digital transformation plans.

Digital transformation is being driven by a set of technology mega trends like mobility, hyperconnectivity, super-computing and real-time big data analytics, and cloud computing.

“If we do not transform, our company may not exist after the next few years,” he said.

Media, telecom, finance, retail, and technology are the industries most affected by the digital transformation, he said.

Prof Ho Tu Bao, director of the John von Neumann Institute, said raising awareness of the importance of digital infrastructure and focusing on building digital infrastructure are priority tasks in digital transformation.

The components of digital infrastructure are devices (computers), connection (optical cable, wireless network), database, application (AI tools, Internet of Things and others), legal system, and a labour force with new skills that are able to use digital technologies, he listed.

Many agencies in Viet Nam are not yet aware of the importance of digital infrastructure, he said.

There is a lack of local, national and global data, and data quality, sharing and connectivity remains limited, he said.

Besides, there is a lack of a legal framework for a digital society and digital economy and human resources, he said.

Training programmes must be reformed to enable the country to have sufficient labour for the digital economy.

“The country needs to create a legal framework for digital infrastructure, especially data.”

Building digital infrastructure is a matter of “perseverance”, and involves many people in many sectors and localities, he said.

According to delegates, the fourth industrial revolution offers an opportunity for small- and medium-sized enterprises in the country to keep up with big ones and become the next generation of large companies.

It would also provide a chance for Viet Nam to catch up with other developed countries, they said.

The seminar, organised by the Association of Vietnam Scientists and Experts, the HCM City Institute for Development Studies and Quang Trung Software City, was a preliminary event of the 2018 Vietnam Digital Economy Forum (VDEF 2018) to be held in HCM City from October 31 to November 1.

Nguyen Ngoc Tu, chief innovation officer at SmartLog/Entropy JVN, said VDEF 2018 aims to provide an international platform for various stakeholders coming from national policy-making bodies, academia, corporates, and individuals/practitioners to present, share, and discuss global and local visions, challenges, initiatives, practices, and trends for fostering and sustainably developing SMEs.

The path to Industry 4.0 for Viet Nam, the impact of digital technology on the business strategies of SMEs, applying digital technology to improve the competitiveness of SMEs, and digitised services in supporting SMEs are among topics to be discussed at the forum, he said. 

Home solar systems get support from BIDV     

The Bank for the Investment and Development of Viet Nam (BIDV), the BIDV Insurance Corporation (BIC) and Bach Khoa Energy Corporation (SolarBK) on September 20 signed a cooperation agreement to guarantee financial support for household rooftop solar power project.

The project, known as BigKilowat (BigK), will support the development of clean energy by offering monetary support for customers who want to install rooftop solar panels.

BIDV will provide 70 per cent of the total cost for households to install solar electricity systems, with the goal of sponsoring 277,000 home installations in Viet Nam by the end of 2019.

Nguyen Ngoc Quynh, the director of SolarBK’s marketing department, said 748 solar power systems have been installed on roofs across the country since July, including 327 in HCM City.

She said BigK will make it much more convenient for residents and homeowners to turn their rooftops into part of the green energy solution, letting them save on electricity while also supplying power to the country’s grid.

Each system will save at least US$500 in power fees and cut three tonnes of carbon emissions each year.

Vice Chairman and General Secretary of Viet Nam’s Electrical Engineering Association, Nguyen Tan Loc, said rooftop solar panels could help meet the country’s increasing demand for power in the coming years.

He said Viet Nam’s power use is still growing rapidly – at a rate of 10.6 per cent each year – and some new power projects have been delayed.

Loc said the national power grid has been overloaded when use is high in the country’s southern regions.

SolarBK, a leading solar power producer in Viet Nam, also plans to build the first 4.4MW solar farm in Da Nang to supply 7.7 million kWh per year to the city’s power grid while reducing annual carbon emissions by 5,000 tonnes.

It also developed a wind-solar renewable energy system on the Truong Sa Islands, and a renewable energy–powered desalination system on Song Tu Tay Island.

SolarBK was the first company to manufacture solar panels in Viet Nam. It invested $17 million in a plant in Vung Tau Province and began exporting solar panels to North America, Europe, the Middle East and North Asia in 2017.

SolarBK’s first solar project won the ‘Outstanding Project’ award in the Smart Renewable Energy category at the Smarter Energy Awards 2018 in Munich, Germany. 

SAP’s CEO talks with Vietnamese technology students about entrepreneurship     

SAP CEO Bill McDermott on Friday hosted a talk themed “Winners Dream” with students of the Ha Noi University of Science and Technology (HUST).

During the talk, Bill inspired hundreds of HUST students with his entrepreneurship spirit and dares to dream through his life stories of growing up in working-class Long Island, New York to the top position of the world’s business software market leader.

He also presented his worldwide best-selling autobiography “Winners Dream: A Journey from Corner Store to Corner Office” to HUST students in which he shares his life stories and leadership lessons.

Since becoming CEO in 2010, Bill’s innovation-led strategy for SAP has resulted in expansive increases in customers, total revenue, market value and profitable growth.

SAP is the world leader in enterprise applications in terms of software and software-related service revenue. Based on market capitalisation, SAP is the world’s third largest independent software manufacturer.

In July HUST and SAP signed a memorandum of understanding to collaborate on enabling youths for the Fourth Industrial Revolution. 

TechDemo 2018 scheduled for October     

The Technology Demonstration and Connection Conference 2018 (TechDemo) will be held in the Mekong Delta city of Can Tho from October 3 to October 5.

At the conference, 120 domestic and international businesses, research institutions and universities will exhibit 500 new products.

There will be international participants from South Korea, Denmark, Germany, the US, Israel and Japan.

TechDemo 2018 will focus on agriculture, forestry, new materials, construction, motorbike and automobile industry, and the Internet of Things. Renewable energy and environment protection technologies will also feature.

This year, an online technology database will provide robust support for organisations and individuals in need of information technology supplies. 

VNPAY named among Top 50 leading IT firms     

Viet Nam Payment Solution Joint Stock Company (VNPAY) was named in the top 50 information and technology companies in Viet Nam and top 10 outstanding companies with Industry 4.0 technology.

VNPAY last year posted revenue growth of 67.5 per cent and took the lead in digital content, applications and mobile solutions.

The company has invested in research and development of payment products and services based on artificial intelligence (AI) and Big Data. This has affirmed its position among the top IT firms with the ability to apply technologies of the Fourth Industrial Revolution.

Established in 2007, VNPAY has launched pioneering services in the e-payment sector in Việt Nam such as VNTopup, SMS Banking, VnPayBill and e-wallet VnMart.

It has offered a range of e-payment services to the market such as developing mobile banking for banks, VNPAY-QR payment gate, QR Code payment and e-commerce website Vban.vn and Vnshop.

The company has provided services to more than 40 banks and payment organisations both inside and outside the country, five telecom firms and thousands of businesses.

According to Statista Research and Analysis, the total number of e-payment transactions in Viet Nam rose by 22 per cent in 2017 to US$6.14 billion. The figure is expected to reach $12.33 billion by 2022.

The ranking has been annually announced by Viet Nam Software and IT Services Association (VINASA) since 2014 to honour leading IT firms in the country and introduce them to potential partners.

This year’s awards focuses on businesses which have used Industry 4.0 technology such as AI, IoT, Big Data and Blockchain to resolve social issues. 

SSI wins Asiamoney’s award for Best Securities House in Việt Nam     

Saigon Securities Inc. has won Asiamoney magazine’s award for Best Securities House in Viet Nam.

SSI had also won the award last year when it was first instituted.

The company achieved a pre-tax profit of VND885.85 billion (US$37.9 million) in the first half of this year, a year-on-year increase of 20.5 per cent.

It retained its leading brokerage position on both the HCM Stock Exchange and Hanoi Stock Exchange after accounting for 21 per cent and 10.81 per cent of business respectively in the first half.

In its more than a decade of operations, SSI has won several prestigious local and foreign awards, including in the Best Investment Banking and Best ECM House categories at the Finance Asia Awards and Best Bank in Vietnam for Equity Finance for Real estate services from Euromoney.

Home Credit wins award for best consumer finance mobile app     

Home Credit Vietnam Finance Limited Company has announced that its app won the annual “Best Consumer Finance Mobile Application” award for 2018 from the International Finance Magazine.

This is its second straight award, the company said, adding that its app has a user-friendly interface and outstanding features relating to loan management and enabling customers to transact at any time and from anywhere.

Its main functions include comparing consumer and cash loan products, locating nearest payment and disbursement locations, enabling online application for consumer loans, reminders, customer support and others.

Since its launch in March last year the app has been downloaded 2.5 million times and helps 1.8 million customers manage their loans.

Jiri Manas, chief information officer, Home Credit Vietnam, said: “We are absolutely committed to developing more attractive features and functionalities with more friendly interface of the mobile app.

Our customers can look forward to having convenient, fully e-wallet-integrated payment solutions as well as quick cash loans in the mobile app in the immediate future.”‎

The IFM is a prestigious financial magazine headquartered in the UK.

Home Credit came to Vietnam in 2008 and now has its headquarters in HCM City, a branch in Ha Noi and nine representative offices in key cities and provinces. 

Hong Kong Vietnam property deal signed     

Emperor Key from Hong Kong will be in charge of investing, trading and developing real estate projects being financed by Gamuda Land Vietnam.

This decision followed a strategic co-operation agreement signed between the two companies on Friday in the capital.

It will help enhance bilateral partnership between the two companies in order to utilise each other’s strengths through joint co-operation projects, Gamuda Land Vietnam said in a statement.

“The agreement will enable Emperor Key to offer consultation in realty product development and property after-sales follow up as well marketing and communication strategies for real estate projects under the ‘Gamuda Land Vietnam’ brand in Hong Kong, Shanghai, Japan and Thailand,” it said.

In his speech at the event, Tan Khai Lock, General Director of Gamuda Land Vietnam, stressed that Emperor Key is an experienced private companies in the field of real estate consultancy and trading in Viet Nam.

"I believe that Emperor Key is a partner that Gamuda Land is looking for and this co-operation will bring new resonance and stronger success for both sides," he said.

Emperor Key is a full service real estate agency that offers property after-sales follow up, property management, and property leasing services for owners and tenants. Active markets for property services are primarily in Asia, including HCM City and Ha Noi in Viet Nam, Thailand, Malaysia and Japan.

Gamuda Land Vietnam is a real estate development company under Gamuda Berhad from Malaysia. Founded in 1995, Gamuda Land aims to become a leading developer of modern lifestyle estate projects in Vietnam thanks to its strong capacity in infrastructure development.

Gamuda Land launched the Gamuda City – one of the largest urban project in Ha Noi – in 2008.

The Gamuda City spans a total area of over 500ha, comprising residential homes and a bustling business and commercial hubs. 

Textile industry must renovate

A sewing machine on display at the Ha Noi Textile & Garment Industry – Fabric & Garment Accessories Expo. 

The textile and garment industry is likely to face challenges in 2019 as the industry goes through a transition period which requires breakthroughs to shift its position in the global value chain.

This was the highlight of a seminar on the prospects for textile and garment exports held on Thursday within the framework of the three-day Ha Noi Textile & Garment Industry – Fabric & Garment Accessories Expo which will close today.

A representative from the Ministry of Industry and Trade said at the event that 2019 would continue to be a challenging year for the textile and garment industry.

The sector needed to make big changes to shift towards a new position in the global value chain, from Cut-Make-Trim (CTM) to Original Equipment Manufacturing (OEM)/Full Package/Free on Board (FOB) and Original Design Manufacturing (ODM) and Original Brand Manufacturing (OBM) to generate higher added value, experts said.

Experts also said that the Fourth Industrial Revolution would also have significant impacts on the industry, forcing producers to invest more in equipment and staff.

However, experts warned that Viet Nam’s textile and garment sector would face fiercer competition from Bangladesh, Cambodia, Laos, Sri Lanka and Myanmar, adding that it was important to enhance competitiveness to be able to grasp opportunities.

Recent analysis by Bao Viet Security Company said that countries with competitive advantages in garment and textiles would benefit from the growing US-China trade war, including Viet Nam, Bangladesh and Cambodia.

The US was the biggest importer of Vietnamese textile and garment products in 2017. Statistics from the Viet Nam Textile and Garment Association showed that in 2017, textile and garment exports to the US reached US$12.8 billion, accounting for more than 40 per cent of the sector’s total export revenue.

Textile and garment export to the US are forecast to reach $13.8-14 billion this year.

Textile and garment export revenue totaled $23 billion in the first eight months of this year, representing a rise of 15 per cent over the same period last year. 

Francophone businesses urged to boost co-operate in region     

Francophone enterprises in Asia-Pacific will be supported to develop trade in the future, especially start-ups and micro-, small- and medium-sized businesses in the region.

The information was revealed in the first Asia Pacific economic forum for businesses of the Francophone held in Ha Noi on Thursday.

The two-day event is held by the Vietnam Chamber of Commerce and Industry and Organisation of La Francophonie (OIF), with the participation of a large number of international guests and representatives of ministries, researchers and associations.

At the forum, participants discussed issues related to entrepreneurs such as challenges to the development of start-up spirit among female entrepreneurs, solutions to improve and inspire start-up spirit of women, economic co-operation in Asia-Pacific, potential for the development and business strategy for the Africa, small and medium enterprises in the region and the dynamics of the regional economy.

Director of the OIF’s Asia-Pacific office Eric-Normand Thibeault said Francophone countries were implementing economic and structural transformation strategies to better engage in exchanges in the region and the world, tackle hunger and poverty and protect the environment and cultural heritage.

He said the forum would create opportunities for businesses to interact, establish long-term business and investment relationships and establish a network of entrepreneurs in the Asia-Pacific region.

He said many issues needed to be addressed such as positioning the French-speaking countries in the restructuring of global economic and trade governance; economic and trade exchanges were still weak; creating value chains of the Francophone countries in areas of high economic potential and share experiences; and good practices for joint investment and joint ventures.

A survey of 22,000 businesses in 91 countries in 2016 showed the firms which had higher numbers of women would generate a 6 per cent increase in net profit.

Firms with 30 per cent of females in the personnel structure would enjoy a 15 per cent increase in revenue. Women-owned enterprises have advantages such as persistence in the face of difficulties.

To create conditions for women to start businesses, governments and organisations need to be aware of barriers that restrict women and devise appropriate policies to tackle them.

Nguyen Thi Tuyet Minh, chairman of Vietnam Women Entrepreneurs Council, said it’s not easy to start-up successfully, especially for female entrepreneurs.

“Therefore, it requires tremendous efforts of individuals, collectives as well as governments and related organisations to create the environment, favourable conditions and ecosystem to nurture start-up spirit,” said Mai.

“Overcoming the barriers of awareness and thinking will help businesswomen grow, overcome difficulties and reap much success in their field,” she added. 

Pepper prices fall sharply in Phu Quoc     

Pepper prices in the southern province of Kien Giang’s Phu Quoc Island have fallen sharply, causing difficulties for pepper farmers on the emerald island.

According to Pham Van Nghiep, vice chairman of Phu Quoc’s People’s Committee, pepper prices had fallen from VND180,000 to 200,000 (US$7.7 to $8.55) per kilo just a year ago to about VND60,000 per kilo present.

Plantations have also fallen from 520ha in 2016-17 to 320ha currently. Pepper output in 2018 is forecast to reach about 745 tonnes, down 485 tonnes compared to previous years.

The reason for shrinking plantations is due to the low price of the product. Many farmers have switched from growing pepper to cultivating fruit, vegetables and high economic value trees.

To deal with this situation, the district is looking to revive 500ha or more and target output of 1,200 tonnes per year, using the collective brand for Phu Quoc pepper.

At the same time, the locality will support and create favourable conditions for farmers to develop eco-tourism for pepper gardens. In addition, the district will focus on investing in the production and processing of pepper. 

HCMC authorities want local firms in global supply chains     

Only 15 per cent of around 8,000 manufacturing companies in HCM City are capable of joining global supply chains but authorities are trying to increase the number.

“The status of HCM City manufacturing enterprises in global supply chains is also low, mostly third or fourth level providers,” Nguyen Phuong Dong, director of the city’s Industry and Trade Department said.

However, some of them are good enough to supply companies like Samsung, Sanyo, Toyota, Honda, and Intel.

For instance, Minh Nguyen Ltd Company and Lap Phuc Ltd Company supply many items to Colgate and Thuan Viet Ltd company manufactures parts for Japanese motorcycle producers.

“Diversifying supply sources will help companies reduce risks related to production,” Hoang Tho Vuong, director of the HCM City Support Industry Development Centre, was quoted as saying by Sai Gon Giai Phong (Liberated Sai Gon) newspaper.

In December the centre, in co-operation with the Korean Association of Machinery Industry and HCM City Association of Mechanical – Electrical Enterprises (HAMEE), will organise the International Exhibition on Industrial Machinery and Equipment in Viet Nam with 350 companies from South Korea, Japan, Taiwan, and Europe taking part.

The event will focus on industrial and supporting industry products, the city’s key industrial products and its supporting industries’ specialties.

“There will be around 200 kiosks displaying accessories and equipment for supporting industries made by local enterprises,” Vuong said.

Do Phuoc Tong, chairman of HAMEE, said: “Through the exhibition, accessories and equipment made by local enterprises will be introduced to major foreign manufacturers.”

He warned that to become a high-level supplier of global enterprises, local enterprises must meet all international quality and price requirements. 

Africa – promising market for Vietnamese goods

With a population of 1.2 billion and a high economic growth rate in recent years, Africa is a promising market for Vietnam, according to the Vietnamese trade counsellor in charge of several African countries. 

Hoang Duc Nhuan, trade counsellor of Vietnam in Algeria, Senegal, Mali, Niger and Gambia, said Vietnam has set up trade ties with most of 55 countries in Africa, and total trade between Vietnam and the Black Continent increased from 5.2 billion USD in 2015 to 6.7 billion USD in 2017, of which Vietnam’s exports were valued at 2.7 billion USD. 

In the first three month of 2018, Vietnam shipped 723.7 million USD worth of goods to Africa, up 20 percent year on year, and imported 212.7 million USD of Africa’s products, down 67 percent. 

Major trade partners of Vietnam in Africa are Ivory Coast, South Africa, Ghana, Egypt, Algeria, Morocco, Nigeria, Cameroon and Benin. 

Vietnam sells to Africa mobile phones, computers and parts, textile-garment, footwear, agricultural products (rice, coffee, pepper bean, copra, cashew nut, tra and basa fish, and shrimp), and construction materials, while buying raw materials such as unprocessed cashew nut, cotton, wood, copper, minerals and animal feed. 

Besides trade, investment ties have also been expanded. As of the end of 2018, businesses from 16 countries and territories in Africa had invested in Vietnam with 247 projects worth 1.56 billion USD. Their projects mostly involved processing and manufacturing, wholesale and retail, repairing, science-technology, hospitality and consultation. Meanwhile, Vietnamese firms invested in 33 projects worth nearly 2.6 billion USD in 12 African countries (statistics as of the end of 2015), focusing on oil and gas, telecommunication, hydro electric power and wood processing. 

The trade counsellor said a high economic growth has bolstered consumption demand in Africa, while the local industrial sector is under developed. Therefore, total imports of the continent are forecast to reach 1.2 trillion USD in 2020 from 480 billion USD in 2016. This promises big opportunities for Vietnamese goods, which are well received in this market. 

In addition, natural disasters and political unrests greatly affect food production in the continent, forcing many African countries to import food. Total spending on importing agricultural products is expected to increase to 110 billion USD in 2025 from 35 billion USD in 2016.

43 out of 55 countries in Africa have joined the World Trade Organisation (WTO) and gradually removed import tariff and non-tariff trade barriers, facilitating imports. 

Africa also holds attractive reward for investment, as the continent boasts abundant raw materials. Investors not only benefit from the available sources of materials and labour but also become eligible for preferential tax when exporting to other countries in the region as well as to the EU and the US. 

In particular, 44 African countries signed an agreement on the Continental Free Trade Area (CFTA) in March this year, under which they commit to remove tariffs for more than 90 percent of goods in the future. Therefore, investment in the continent will facilitate access to those markets. 

But Nhuan cautioned that it is not without any problems when doing business with Africa. According to him, political and social instability, coupled with big differences in language, culture, legal framework and business practice, pose considerable obstacles to trade and investment ties. 

Besides, Vietnam has few diplomatic and trade representative offices in Africa, with eight embassies and five trade offices at present, which cause difficulties in getting visas, or in collecting market information and holding trade promotion activities. 

Vietnamese firms are also deterred by trade frauds and payment methods when doing business with African peers, while the legal framework for business activities is incomplete, according to Nhuan.

Viet Nam takes part in Southeast Asian tech event in Thailand     

The Digital Thailand Big Bang 2018 exhibition kicked off on Wednesday at Impact Muang Thong Thani in Bangkok with the presence of Thai Prime Minister Prayut Chan-o-cha.

This is one of the biggest technology events in Southeast Asia. With the concept “Thailand Big Data”, it aims to demonstrate digital transformation and innovative technology in Thailand.

Over 60,000 participants, including 500 representatives from governments along with enterprises and international partners from 12 countries such as China, Japan, Viet Nam, Malaysia, Singapore and Israel, took part in the opening day.

V-startup is the Vietnamese representative at the event.

Thailand is pressing ahead with its digital economy policy with rapid application of cloud computing technology, Big Data, the Internet of Things, Blockchain, e-Payments in its core businesses including finance-banking, real estate, retail, food-agriculture, aviation and tourism.

“Digital technology has been playing an important role in strengthening the 20-year national strategy to address the challenges and the increasing opportunities throughout the country,” Thai Prime Minister Prayut Chan-o-cha said.

He revealed Thailand’s target of becoming a regional leader in developing digital innovations. The Thai government aims to develop 30 smart cities nationwide by 2020.

At the event, the Vietnamese delegation introduced Viet Nam’s tech products, shared the latest technological trends and connected with regional and global investors and start-ups with the aim of introducing Vietnamese products to the world.

Thy Nga, CEO of V-startup, said: “In Southeast Asia, start-up businesses find it difficult to find information on investment sources, support programmes and organisations, especially information on policies and government support for start-ups.

V-startup is an ecosystem providing supports for start-ups with Innovation Hub All in Station and InnoVentures, helping connect start-ups with the Government and investors.

The Vietnamese company has invited the Government of Thailand to participate in Techfest Viet Nam 2018, slated from November 28 to December 2 in Da Nang.

Digital Thailand Big Bang 2018 continued until September 23. 

Online reality show to feature contest between start-ups     

A reality show featuring a contest between startup ideas will begin next month with a first prize worth VND1 billion (US$42,920).

Red Bull - Chinh Phuc Uoc Mo (Conquer your dreams) is being produced by Multimedia JSC and Yan Digital and hosted by Tung Leo and will be broadcast on social media.

The contest is meant for people aged 18-35 who have dreams of starting a business but lack the experience, know-how and resources.

The jury members who will listen to participants’ pitches include Publisher Saigon Books’ founder Nguyen Tuan Quynh, Mai Truong Giang, who was in the Forbes Viet Nam list of 30 outstanding people under the age of 30 in 2015, and Trương Ly Hoang Phi, director of the Business Startup Support Centre.

Top contestants will also have a chance to get investment and sponsorship from outside even if they do not win on the show.

A casting programme will be held to choose ideas and projects with potential on September 27 in HCM City.