VN-Index continues upward trend

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose by 8.32 points to hit 1,011.29 points at the end of September 24, with 186.72 million shares traded worth nearly 4.39 trillion VND (188.32 million USD). 

There were 148 advancing codes, 145 in decline, and 56 shares that went flat. 

Meanwhile, the HNX-Index on the Hanoi Stock Exchange (HNX) closed at 115.59 points, down 0.21 points. There were 83 rising codes and 79 declining ones. 

Throughout the day, the VN-Index maintained its green, driven by the growth of major stocks. In particular, VJC expanded by 1.8 percent, SBT by 2.4 percent, REE 1.9 percent, ROS 1.3 percent, and MSN by 3.8 percent. 

Both property and petroleum stocks enjoyed a surge on the day.

Foreign investors posted a net purchase value of nearly 53.79 billion VND (2.3 million USD) on the HoSE. MSN topped the list with over 42.44 billion VND worth of shares, followed by HPG with 26.65 billion VND. 

On the HNX, foreign investors sold about 910,800 shares with a net value of 5.08 billion VND. VCG and TIG led the list with shares sold worth 3.25 billion VND and 2.47 billion VND, respectively. 

MWG appoints new CEO

The MobileWorld Investment JSC (MWG) announced the appointment of a new CEO, Mr. Doan Van Hieu Em, on September 21, who will lead its two large mobile and consumer electronics chains, thegioididong.com and Dien may Xanh.

Mr. Hieu Em will replace Mr. Tran Kinh Doanh and is expected to continue making spectacular stories for MWG. Starting from March 2007, Mr. Hieu Em has eleven years of experience in many important positions at the company.

The appointment of an 8x-generation CEO heading a multi-billion-dollar retail company also proved two specific features of the leading retailer. The first is in selecting those who have competency and a full understanding of the culture of the company to take up key positions, and the second in believing and creating conditions for young people to experience a variety of positions to improve their skills and abilities to become leaders.

In the upcoming plan, the new CEO is determined to improve the market share of MWG’s two retail segments by over 50 per cent in the future. “Taking on a new responsibility is naturally accompanied by the pressure to commit greater than myself, but I feel this is a great opportunity,” said Mr. Hieu Em. “I set myself a goal of exceeding $8 billion in revenue for the two chains before 2022.”

The appointment comes in the context of the company moving towards a larger scale, becoming a multi-segment retailer with a variety of retail chains. His predecessor, Mr. Doanh, will now focus exclusively on leading the Bach hoa Xanh grocery chain to the No. 1 position in consumer goods and foodstuffs as well as being a member of MWG’s Board of Directors.

MWG recorded net revenue of VND58.7 trillion ($2.5 billion) in the first eight months of 2018, an increase of 39 per cent year-on-year. Net profit after tax was VND1.97 trillion ($84.4 million), up 36 per cent.

Online revenue reached VND7.6 trillion ($325.4 million), up 118 per cent compared to the same period last year.

Phones, tablets, laptops and accessories grew 19 per cent in revenue year-on-year in the first eight months, with 1,040 stores, while electronics, white goods and small appliances increased 83 per cent, with 731 stores. Groceries and FMCG grew 251 per cent from 405 stores.

Challenging 2019 ahead for textile and garment industry

2019 will be a challenging year for Vietnam’s textile and garment industry as it needs to record major breakthroughs to take on new roles in the global value chain, including shifting from simple processing - Cut, Make and Trim (CMT) - to purchasing materials, free on board (FOB), original design manufacturer (ODM), and original brand manufacturer (OBM) modes, a seminar in Hanoi on September 20 heard.

According the Vietnam News Agency, the “Prospects for Textile and Garment Exports in 2019” seminar was part of the Vietnam Hanoi Textile & Garment Industry Expo (HanoiTex) 2018.

The State-run news agency quoted experts as telling the seminar that Industry 4.0 will have a huge impact on Vietnam’s textile and garment sector, forcing it to shake up and make heavy investments in both equipment and human resources.

Thorny problems for enterprises are not only regarding the number and value of orders and the pace of growth but also technological innovation and human resources training.

According to economist Le Dang Doanh, Made-in-Vietnam garments and textiles face fierce competition from those in Bangladesh, Cambodia, Laos, Sri Lanka and Myanmar.

He suggested local firms enhance their competitive edge to grasp opportunities and gain a stronger foothold in the fluctuating market.

A representative from the Ministry of Industry and Trade said that Vietnam’s economy has made significant achievements during international integration, with stable economic growth and a favorable business climate, to which the garment and textile sector has made significant contributions.

Last year, the sector earned more than $31 billion  in export revenue, up 10 per cent against 2016. In the first eight month of this year exports stood at $23 billion, a year-on-year rise of 15 per cent. Export revenue for the year as a whole is forecast at $35 billion.

HanoiTex 2018, which opened in the capital on September 19 and ran to September 21, helped firms learn about new technologies, increasing the rate of locally-made materials, and meeting foreign client demand. It also provided a platform for businesses in the field of finance, investment, and manufacturing to meet partners, expand markets, and work out long-term business strategies.

Co-hosted by Hong Kong’s CP Exhibition Company and the Vietnam National Textile and Garment Group, the event attracted 120 exhibitors from China, Germany, Japan, South Korea, Pakistan, Taiwan (China), Thailand, and Vietnam on more than 6,000 sq m.

On display were patterned, dyed, high-tech and micro-fiber fabrics, anti-dry weaving materials, and machinery used in sewing, weaving, embroidery, chemical dyeing, and other materials.

Seminars were also held on the sidelines on building a fiber - textile - weaving connectivity chain and improving workforce quality to meet demand during Industry 4.0.

Son Tra Apple gets trademark protection     

The National Office of Intellectual Property of Viet Nam on Saturday granted a trademark protection certificate for Son Tra, or H’mong, apple (scientific name docynia indica) in northern mountainous Son La province’s Bac Yen District.

Son Tra apples are grown mainly in forests in Bac Yen, Muong La and Thuan Chuau districts.

The fruit is known to have health benefits, such as treatment of gastrointestinal disorders, fat reduction, stabilising blood pressure and beneficial for those with cardiovascular disease.

The tree’s deep roots also helps prevent land erosion.

The price of the fruit has increased from VND5,000 (US$0.22) per kilo in 2006 to around VND20,000 currently.

The granting of trademark protection would create grounds for expanding plantations and the market for Son Tra apple.

Le Van Ky, Chairman of Bac Yen District People’s Committee, said that attention would be paid on finding new markets for Son Tra to boost exports. 

Ha Tinh to get $15m garment plant     

Chairman of Ha Tinh People’s Committee Dang Quoc Khanh has signed a decision approving the construction of Haivina Hong Linh garment factory at Nam Hong Industrial Zone.

Accordingly, the Haivina Hai Duong Company Limited will invest VND345 billion (US$15 million) for the factory in the central province of Ha Tinh to produce and trade sports and industrial gloves, as well as sportswear of all kinds for both local consumption and export.

This will be the first plant in the company’s factory chain in the central region.

The plant, with a capacity of 12 million products a year, would include workshops and offices on an area of 8.9ha.

It is expected to become operational by the end of 2021.

The factory would contribute to the province’s socio-economic development, creating jobs and contributing to the State budget.

The South Korean wholly-invested Haivina Hai Duong Company Limited now has three garment factories including two in the northern province of Hai Duong and one in the central province of Nghe An.

The provincial People’s Committee has been active in attracting investment in tourism, service and garment sectors in the province’s northern area. The garment projects in the region would help the province resolve the urgent issue of abundant women labourers. 

Vietjet opens new route between Nha Trang and Danang

Vietnam's budget carrier Vietjet has recently welcomed its first passengers for its new route connecting Nha Trang to Danang, to meet the travel demands of local residents and tourists, as well as contributing to promoting trade in the two coastal cities.

The Nha Trang – Danang route will operate a daily round-trip flight, at around 1 hour per leg. The flight is scheduled to depart from Nha Trang at 11:45 and arrive in Danang at 12:45. The return flight takes off at 13:20 in Danang and lands in Nha Trang at 14:20.

Promotional tickets are available via sales channels during Vietjet’s golden hours, from 12:00 to 14:00 (GMT+7) everyday, on www.vietjetair.com, www.facebook.com/vietjetvietnam and at https://m.vietjetair.com for smartphones.

Payment can be made with international debit and credit cards, including Visa/ MasterCard/ AMEX/ JCB/ KCP/Union, or with any ATM card issued by 34 Vietnamese banks and registered with internet banking.

Nha Trang and Danang, two famous coastal cities in central Vietnam, are popular destinations attracting both international and local tourists. With this new route, tourists will have more opportunities and flexibility to discover these two interesting destinations.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has officially launched an innovative digital bank integrated with sophisticated tools for the young generation named “YOLO.” 

According to a market research, 70 per cent of Vietnam’s population, especially the young generation, is underserved by the banking sector.

Based on this fact, VPBank has developed the YOLO digital bank. With the motto “Live in Style,” YOLO not only provides customers with a full range of financial services, but also integrates other services to cater to their daily needs, such as transportation, travel, entertainment, and restaurant reservations, among others.

YOLO MasterCard offers global payment functions to customers. To register, customers only need to provide their names, phone number, and email address. Customers can use YOLO MasterCard to pay at any e-commerce website anytime, anywhere.

One of the highlights of YOLO digital banking is the YOLO super saving product, which allows customers to effectively manage their expenses and optimise idle money.

In addition to its intelligent technology platform and seamless connection with partners to provide goods and services to customers, YOLO also lets customers pay for hundreds of services and utilities, from phone bills and airplane tickets to cable TV, and much more. Moreover, customers can set up automatic payment schedules or use the bill-sharing feature. All transactions are encrypted and protected with the bank’s high security standards.

At the launching ceremony, VPBank’s representatives also signed a strategic co-operation agreement with Vinaphone—the owner of the Vpoint, a point accumulation system with more than 3,000 stores and millions of members. According to the agreement, YOLO users only need one Vpoint account to enjoy the benefits at all partner stores. In exchange, Vpoint users can also enjoy the YOLO digital banking features.

With its unique features and diverse ecosystem, YOLO aims to become a youthful and dynamic bank. The launching of YOLO digital banking reaffirms VPBank’s ambition to be the leader in acquiring modern technology and developing a digital platform.

Banks prepare for IFRS 9 standards

PwC Vietnam and SAS Malaysia last week held workshops in Hanoi and Ho Chi Minh City to support Vietnamese banks in preparing for the implementation of International Financial Reporting Standards (IFRS) 9.

At the workshops, which attracted more than 100 representatives from the Risk Management and Finance teams of commercial banks currently operating in Vietnam, PwC and SAS experts shared their knowledge of IFRS 9 complexities and offered practical experiences to cope with the challenges of implementing IFRS 9.

Why do Vietnamese banks need to adopt IFRS 9?

While not yet mandatory in Vietnam, banks are now looking to implement the changes associated with IFRS 9 to align with global best practices, strengthen their business through improved reporting and better risk management, and attract foreign investors who may expect IFRS-compliant reporting.

“A scheme is planned to be submitted to the government for approval wherein Vietnamese companies are divided into three groups: an IFRS-applying group, a Vietnamese Accounting Standards-applying group (VAS will be modified to align with IFRS changes, in accordance with Vietnamese characteristics) and micro, small and medium enterprises (MSMEs) group. The transition process will take place after the approval of the scheme and the implementation process will start within a reasonable timeframe to ensure the practicality of these enterprises,” said Luu Duc Tuyen, deputy head of the Accounting and Auditing Regulations Department of the Ministry of Finance (MoF) on the direction of the MoF in developing a scheme to implement IFRS in Vietnam.

Dinh Hong Hanh, financial services consulting partner at PwC Southeast Asia Consulting, said the most significant changes for Vietnamese banks will be to the impairment and provisions for credit losses, which have been updated to use a more forward-looking calculation.

As IFRS 9 introduces the expected credit loss (ECL) model for all financial instruments subjected to credit risk, banks will have to hold provisions for expected future losses on all credit exposures, as opposed to the IAS 39 standard of holding provisions only for assets classified as impaired.

Addressing the impacts of the new credit risk model, PwC experts foresee higher impairment losses with the shift from an incurred loss to an expected loss model. A recent survey in Malaysia revealed that provisions increased by 25-50 per cent on the first day of IFRS 9 adoption, which would have direct impact on the retained earnings. “IFRS 9 implementation will be key for Vietnamese banks wanting to provide comparable and transparent financial applications and disclosures at global standards. Some of the challenges will involve the assessment of the business model and performance of the Solely for Payment of Principal and Interest (SPPI) test for asset classification and also making impairment allowances based on the new expected credit loss concept. This may lead to a potential overhaul of current investment and credit management strategies,” said Ching Chuan Ong, financial services leader and assurance partner at PwC Malaysia.

Antonie Jagga, partner of financial risk management at PwC Southeast Asia Consulting, said new expected credit loss models will enable Vietnamese banks to better manage risks in accordance with global best practices.

he maturity of risk management and accounting processes will determine the difficulty of adopting IFRS 9. The increasing complexity of ECL models, the need for a higher level of internal communication, and the collaboration between risk management and finance teams will influence the ability to implement IFRS 9.Data availability and quality will be a key challenge for banks to build accurate and stable credit models. Banks will require robust historical data with a comprehensive list of credit loss drivers. While existing Basel models (if available) can be leveraged, banks need to adjust the representation of current economic conditions for IFRS 9 ECL calculation.

Policies and processes will need to be revised to ensure consistency with other frameworks, such as capital management, tax reporting, and credit frameworks. Processes interlinked with IFRS 9 reporting will need to be aligned and governance and controls put in place for the more complex ECL calculation.

“As a market leader in IFRS 9 implementation, PwC Vietnam is bringing a comprehensive end-to-end solution for IFRS 9 to the market. Utilising a global network of experienced professionals, PwC Vietnam can help businesses navigate through the complexities of IFRS 9,” said Hanh.

Addressing these challenges, Hanh stressed the importance of the end-to-end approach, from providing the initial scoping and gap analysis to developing a tailored and robust IFRS 9 reporting solution.

PwC Vietnam will use advanced analytics to implement an IFRS 9 solution that can be seamlessly transferred into a streamlined reporting process while ensuring businesses have the tools they require to maintain and update their IFRS 9 reporting solution on an on-going basis.

H&M opens third store in Ho Chi Minh City

H&M Vietnam has recently opened its third store in Ho Chi Minh City, with leasing advisory from Savills Vietnam.

This new H&M Vietnam store is located in Crescent Mall in District 7 of Ho Chi Minh City. After entering Vietnam in 2017, H&M Vietnam has opened stores in both Hanoi and Ho Chi Minh City, achieving 

According to Joanne S. Gasgonia, general manager of Crescent Mall, where H&M is located, the mall understands consumers.

"It is all about brand trust, brand love, and brand affinity. Crescent has also been steadfast in positioning and never compromised on the quality of the international mall experience we promise our shoppers since day one,” Gasgonia said.

Meanwhile Tu Thi Hong An, associate director of commercial leasing at Savills Ho Chi Minh City, said that with its 20 years of experience on the retail property market in Ho Chi Minh City, Savills was very pleased to provide consultancy on this transaction. “Crescent Mall is fortunate to be in an area where expansion is still possible. Compared to other areas in Ho Chi Minh City, the zoning in District 7 has been planned masterfully by Phu My Hung. We hope that H&M will be very happy in this new location,” An said.

In 2017, retail turnover in Vietnam was $129 billion, increasing strongly by 11 per cent year-on-year, a very high level compared to the ASEAN region. The Vietnamese retail market has enormous potential. In 2018-2021, it is expected to grow steadily with the increased demand for leisure (10 per cent per year), modern grocery (9 per cent per year), and apparel (6 per cent per year).

Sales of fashion, personal services, F&B, and entertainment, such as gyms, fitness centres, and cinemas, will all rapidly increase over the years to come. Crescent Mall offers approximately 45,000sq.m of retail space and delivers an international standard shopping complex, amidst the tranquility of a lakeside environment.

In the fourth quarter of 2019, Crescent Mall will see the opening of a further 11,200sq.m of retail space as well as a 25-storey office tower. This will provide Crescent Mall with further momentum as one of Vietnam’s leading shopping malls.

Idemitsu Q8 opens third petrol station in Vietnam

Japan-Kuwait joint venture Idemitsu Q8, the first 100-percent-foreign-owned oil & gas retail company in Vietnam, has opened its third petrol station in the northern province of Hung Yen.

Co-run by the Japanese Idemitsu Kosan Co. Ltd and Kuwait Petroleum Europe B.V., Idemisu Q8 established its first petrol station in Hanoi in October 2017. The event attracted attention thanks to the difference in services between the company and other players in the market, when the company’s Director General braved the rain to greet customers at the station during the first days of operation. 

It is noteworthy that Idemisu Q8 has selected locations for its petrol stations near industrial parks where there are large numbers of Japanese companies.

Its second facility, also the biggest of Idemitsu Kosan outside Japan, spans 10,000 m2 in Dong Hai 2 ward, Hai An district, in the northern Hai Phong port city. The location is at a service site near the Dinh Vu port.

Vietnam’s petrol retail market currently has more than 14,000 petrol stations. The Vietnam National Petroleum Group (Petrolimex) owns 5,200 stations or about 45 percent of the total, followed by PVOil with 3,000 stations, Thanh Le 1,150 stations, and Saigon Petro 1,000 stations.

Vietnam one of PepsiCo’s 20 priority markets

One of the world’s largest food and beverage companies, PepsiCo, Inc. confirms that Vietnam is one of the company’s 20 priority markets across the globe and is the eighth in the Asia-Middle East-North Africa region.

Chris Argent, PepsiCo’s senior director, public policy, government affairs, and communication, told VIR at the recent World Economic Forum on ASEAN in Vietnam that the country is a highly attractive growth market where PepsiCo is well-positioned.

“We are focused on expanding our food and beverage business in Vietnam through continued investment across our portfolio. Besides, PepsiCo will continue to independently operate its food business in Vietnam. PepsiCo enjoys success in the snacks category with the Poca brand, and intends to continue to invest in agriculture, innovation, and distribution to grow its food business across the country,” Argent said.

He added that the company is keen to do long-term business in Vietnam in the field of food and beverages, and Vietnam is one of the company’s 20 priority markets across the globe, and eighth in the Asia-Middle East-North Africa region, although he did not mention detailed plans for the upcoming time.

This year marked the tenth year of the cooperation between PepsiCo Vietnam and the Ministry of Agriculture and Rural Development, in the framework of which the two sides founded a public-private partnership group on fruits and vegetables.

Nguyen Duc Huy, general director of PepsiCo Foods Vietnam Company, said that this cooperation helped create a sustainable supply chain based on collaboration, promoting trade development, as well as opening up opportunities to raise living standards for hundreds of farm households—contributing to the sustainable development of cultivation in Vietnam.

He stressed that in the coming time, his firm will continue to study processing in order to create high added-value products made from artichoke, a specialty of the Central Highlands city of Da Lat, and bring these products to the company’s distribution chains, while also educating farmers on cultivation skills that can help triple their output.

He cited that in 2017 PepsiCo sourced over 5,000 tonnes of potatoes from Vietnam, and more importantly, saved 1 million litres of waters thanks to modern irrigation technology.

“Our success depends on securing sustainable supply chains for our key raw materials," said Huy.

Since entering the market in 1994, PepsiCo has undertaken an investment programme of more than $500 million and now has five beverage manufacturing plants in Vietnam, a high priority market in PepsiCo's aggressive emerging and developing markets growth plan.

Thai company seeks to invest in thermo-power plant in Soc Trang

A Thai company has recently visited the Mekong Delta province of Soc Trang to seek investment opportunities, especially in thermo-power plants.

At a working session with leaders of the provincial Party Committee, a representative from the Banpu Power Public Company briefed them on the company’s financial capacity and experience in thermo-power development.

The company has invested in major electricity projects in Thailand and Laos, and been hailed by Thai and foreign organisations for efforts to develop business and production in line with environmental protection.

After studying the Long Phu 3 Thermo-Power Plant Project, the representative affirmed that the company has sufficient capacity to invest in project.

However, there remain challenges related to coal transportation via waterways. Therefore, the company made several proposals to address the problem.

Phan Van Sau, Secretary of the provincial Party Committee, said that the locality absolutely supports the Thai company’s investment intention.

He expressed his hope that the investment should associate with environmental protection to avoid affecting the life of locals.

Regarding difficulties in coal transportation, Soc Trang is calling for investment in a deepwater port in Tran De to facilitate import and export activities, he added.

Phu Quoc eyes 2.5 million visitors this year

The resort island of Phu Quoc in the Mekong Delta province of Kien Giang expects to welcome about 2.5 million tourist arrivals in 2018, up 25 percent from last year.

Since 2015, the island has received more than 4.7 million tourist arrivals, 20.5 percent of which were foreigners. Earnings from tourism grew 42.5 percent annually in average. 

According to Vice Chairman of the People’s Committee of Phu Quoc island district Pham Van Nghiep, Phu Quoc International Airport now has eight airlines operating 12 direct international flights to China, the Republic of Korea, Russia and Thailand and four domestic routes to Can Tho, Ho Chi Minh City, Hanoi and Hai Phong.

The lodging services in the island have rapidly expanded to serve the increasing demand of visitors. The island now has more than 600 hotels and other accommodations, offering about 12,000 rooms, of which 10 are rated 3 – 4 star hotels and five rated 5-star

Phu Quoc is very famous for pearl farming, fish sauce, pepper and “ruou sim”, a wine made from sim fruit or Rose Myrtle. A variety of tours are provided for travellers, such as scuba diving, coral reef snorkeling, fishing and tours to visit traditional fish sauce making establishments, pearl farms, Ham Ninh fishing village, Phu Quoc National Park, pristine beaches and many more.

In addition, Nghiep attributed the success of the local tourism industry to new luxurious tourism services, including 500-hectare Vinpearl Safari Phu Quoc – the first-ever and largest safari park in Vietnam, Vinpearl Resort & Villas, Vinpearl Land and Vincharm Spa. Earlier this year, the world’s longest sea cable car route was launched in the island, connecting An Thoi town and Hon Thom island, he said.

Phu Quoc was once a sleepy area of around 100,000 people. In recent years, however, the 567sq.m island has become a tourist mecca for thousands of visitors from around the world.

Located 46km from the mainland, the island can be reached by air from HCM City within one hour and from Hanoi within two hours.

In September, it was named by CNN among the top five up-and-coming Asia Pacific destinations to visit this fall.

According to CNN, for those planning their first trip to the Asia-Pacific region, major destinations usually top the list, such as Shanghai and Hong Kong (China), Tokyo (Japan) and Singapore.

“If you're dreaming of a beach getaway in Asia this fall, Phu Quoc in Vietnam should be a top contender. For starters, the dry season begins in November and runs till April,” CNN wrote on its website. 

Formerly a prison island during French colonial times, Phu Quoc's photogenic setting and clear waters caught the attention of international brands like JW Marriott Phu Quoc Emerald Bay, which debuted its Bill Bensley-designed resort late last year.

There's plenty to do aside from lounging and snorkeling around Ong Lang Beach.

The Phu Quoc Prison Museum offers a peek into the island's dark history while the Phu Quoc National Park and Suoi Tranh Waterfall will spoil nature lovers, it added.

HCM City tries to control soaring property prices

The HCM City People’s Committee has asked agencies to strictly punish real estate brokers and land owners who spread rumours about possible construction or major property projects near their land lots.

The city’s Department of Construction said the price of land lots in the city’s eastern and western areas, such as 9, 12 and, Bình Chánh districts, have soared because of these rumours.

On gachvang.com, a website that assesses land value, prices in Vĩnh Lộc A commune in Bình Chánh District rose from VNĐ13 million (US$557) per sq m in March to VNĐ15.4 million ($660) in June, an increase of 18.5 per cent compared to the same period last year.

Land prices in District 12 are also rising, from VNĐ42-43 million ($1,800-1,844) per sq m, while one year ago, the prices were only VNĐ21-23 million ($900-986).

In District 9, one of the "land fever” hotspots, prices are climbing daily because of information about the new Eastern Coach station and Oncology Hospital.

Construction on fhe coach station is expected to begin this year, while the hospital is scheduled for use next year.

Nguyễn Văn Thành, a land broker in the district, said: “Land prices in the area have risen 10-20 per cent compared to the beginning of this year.”

Prices on Hoàng Hữu Nam Street, close to the new hospital, have increased from VNĐ35 million ($1,500) to VNĐ40 million ($1,715) per square metre.

Spikes in land prices have been seen at least three times this year, according to the Registration Office for Land Use Rights under the city’s Natural Resources and Environment Department.

Rising prices are expected to continue because of people’s habit of buying property before Tết (Lunar New Year).  

Vivo unveils two new phones with AI features     

Vivo Technology Company Ltd on Friday in HCM City unveiled two new phones, V11 and V11i, which will be on sale late this month.

The innovative phones are using AI, and are equipped with an AI camera that takes good pictures in different light conditions.

The camera functions include AI Selfie Lighting, AI HDR, AI face beauty, AI face shaping, panorama, group selfies and AI portraits.

While V11 has a RAM of 6GB and a memory of 128GB, V11i has 4GB RAM and 128GB ROM.

The company is working with Google to bring customers applications like Jovi, Google Translate, and Google Lens which helps users find information about images.

V11 is designed with a Holo full-view 6.41 inch screen and a 6.3 inch V11i screen.

The company said that V11i would hit the market on September 29 and V11 on October 5 at many retail shops, including thegioididong and FPT.

The price will be VND7.69 million (US$330) for V11i and VND10.990 million ($471) for V11.

Vivo is a technology company involved in many research activities. It has research and development centres in the US and China. 

Avnet showcases integrated IoT connectivity solutions in Vietnam

Through live demonstrations and the presentation of practical applications, TechDays of Avnet Asia-Pacific, a global technology solutions company, offered a spectrum of IoT solutions that complement Vietnam’s industries.

Avnet Asia-Pacific presented connected solutions to empower various markets sectors in Vietnam at the Avnet LPWAN Vietnam TechDays 2018 Showcase, which was held in Ho Chi Minh City on September 17 and in Hanoi on September 19.

Through the manufacturing and export of electronics, Vietnam is considered one of the fastest growing economies in the world, with the vision to be an industrial nation by 2020. To help support these thriving industries, Avnet is showcasing its capabilities to enable and drive IoT innovation and related initiatives in Vietnam.

“IoT is reshaping the electronics industry. LPWAN technologies can be integrated into many applications, namely fleet management and tracking, agriculture, metering, surveillance and monitoring of environmental air and water quality, providing cost-effective and secure connectivity solutions,” said Andy Wong, senior vice president of global design solutions at Avnet Asia.

Wong added, “By introducing our latest connected solutions to OEMs and enterprises in Vietnam, companies doing business in these industrial sectors will be empowered to adopt automation processes that bring performance and efficiency to their operations. With Vietnam’s smart city and industrialisation plans, Avnet is ready to support the growing demand for IoT with our LPWAN solutions.”

Avnet’s solutions encompass an integrated ecosystem of LPWAN technologies, which include LoRa, NB-IoT, and Sigfox. The provision of IoT capabilities feature long-range connectivity in rural, remote, and offshore industries, enhanced cellular systems for mobile networks; and wireless networks for low-powered connectivity.

At these events, Avnet will take to the stage with sensors, gateways, connectivity modules, and other technology solutions including environmental sensing for LoRa and starter kits for NB-IoT and Sigfox, all offering higher performance for industrial applications.

From idea to design and from prototype to production, Avnet supports customers at each stage of a product’s lifecycle. A comprehensive portfolio of design and supply chain services makes Avnet the go-to guide for innovators who set the pace for technological change.

Avnet showcases integrated IoT connectivity solutions in Vietnam

Through live demonstrations and the presentation of practical applications, TechDays of Avnet Asia-Pacific, a global technology solutions company, offered a spectrum of IoT solutions that complement Vietnam’s industries.

Avnet Asia-Pacific presented connected solutions to empower various markets sectors in Vietnam at the Avnet LPWAN Vietnam TechDays 2018 Showcase, which was held in Ho Chi Minh City on September 17 and in Hanoi on September 19.

Through the manufacturing and export of electronics, Vietnam is considered one of the fastest growing economies in the world, with the vision to be an industrial nation by 2020. To help support these thriving industries, Avnet is showcasing its capabilities to enable and drive IoT innovation and related initiatives in Vietnam.

“IoT is reshaping the electronics industry. LPWAN technologies can be integrated into many applications, namely fleet management and tracking, agriculture, metering, surveillance and monitoring of environmental air and water quality, providing cost-effective and secure connectivity solutions,” said Andy Wong, senior vice president of global design solutions at Avnet Asia.

Wong added, “By introducing our latest connected solutions to OEMs and enterprises in Vietnam, companies doing business in these industrial sectors will be empowered to adopt automation processes that bring performance and efficiency to their operations. With Vietnam’s smart city and industrialisation plans, Avnet is ready to support the growing demand for IoT with our LPWAN solutions.”

Avnet’s solutions encompass an integrated ecosystem of LPWAN technologies, which include LoRa, NB-IoT, and Sigfox. The provision of IoT capabilities feature long-range connectivity in rural, remote, and offshore industries, enhanced cellular systems for mobile networks; and wireless networks for low-powered connectivity.

At these events, Avnet will take to the stage with sensors, gateways, connectivity modules, and other technology solutions including environmental sensing for LoRa and starter kits for NB-IoT and Sigfox, all offering higher performance for industrial applications.

From idea to design and from prototype to production, Avnet supports customers at each stage of a product’s lifecycle. A comprehensive portfolio of design and supply chain services makes Avnet the go-to guide for innovators who set the pace for technological change.

Cuckoo sets foot in Vietnamese household electrical appliance sector

By establishing a subsidiary in Vietnam and issuing products designed specifically for this market, Cuckoo Electronics Co., Ltd., the leading home appliances manufacturer in South Korea, will improve the management of its authorised distributors in Hanoi and Ho Chi Minh City.   

On September 19, Cuckoo officially announced the establishment of a subsidiary in Vietnam, with the vision to bring high-quality home appliances closer to Vietnamese people.

The move will help Cuckoo make sales and after-sales services at its authorised distributors more professional.

To meet the increasing demand of Vietnamese people, Cuckoo will open the “Easy on” programme allowing customers to buy water filters, air filters, and electric stoves, which rank at the high-end segment, at prices that are a quarter or one-third of the general market price in the segment. Besides, customers will be able to enjoy after-sales services of the highest quality.

"Launching the two pressure rice cooker models, which are designed for the Vietnamese market, will help to meet the demand of Vietnamese people. Cuckoo expects to become an electronic home appliance brand close to the hearts of Vietnamese people," the representative of Cuckoo said.

In the framework of the launching ceremony, Cuckoo introduced two new pressure rice cooker products, namely CRP-PK1000S and CRP-M1000S, which are designed particularly for Vietnamese people. Accordingly, these products have Vietnamese language instructions instead of English or Korean. Besides, their prices are also lower than the market average.

Cuckoo expects that these products will create convenience for Vietnamese users, and simultaneously affirm the firm’s determinationto conquer the rice cooker market in Vietnam.

Speaking at the launching ceremony, a representative of Cuckoo said, “Establishing a subsidiary in Vietnam aims to bring Vietnamese people products with better quality and more diverse models. Besides, launching the two pressure rice cooker models, which are designed for the Vietnamese market, will help to meet the demand of Vietnamese people. Cuckoo expects to become an electronic home appliance brand close to the hearts of Vietnamese people.”

Cuckoo specialises in manufacturing kitchen appliances as well as healthcare and living appliances. It has been the leader in the rice cooker segment for 14 years in South Korea and has sold over 25 million rice cookers. Its rice cooker products make up 73 per cent of the market.

With its successes in Korea, Cuckoo now looks to grow on the global market. Based on high-quality rice cookers and its more than 30 years of experience, Cuckoo have begun global trading in 1998. Cuckoo has been expanding its distribution channels to numerous nations and recorded average annual growth of 22 per cent in the past years.

TH Group kicks off giant dairy complex in Russia

Vietnam’s private TH Group has commenced the construction of its $2.7-billion dairy farm and milk processing mega-complex in the Borovsk Special Industrial Economic Zone in the Kaluga region of Russia, turning the page for Vietnam’s outbound investments.

Once completed, the project, the first phase of which is valued at $500 million, will become the largest and most modern fresh milk plant in Russia, and also Vietnam’s first project of the type in the country. With a capacity of 1,500 tonnes of milk per day, the plant is expected to begin production in 2019 and will entirely source material from TH Group’s existing dairy farms in Moscow and Kaluga.

“TH Group’s milk project does not only contribute to bolstering investment and trade exchanges between Russia and Vietnam, it also attests to Vietnam’s efforts to support Russia in the rebuilding of its agricultural production, which was once foremost in the world,” said Party General Secretary Nguyen Phu Trong at the ground-breaking ceremony for the project, which he attended as part of his official visit to Russia.

The Party leader said that the project heralds the start of a new investment trend of Vietnamese companies in Russia. So far, most of Vietnam’s outbound investment projects in Russia are in the oil and gas sector and mostly run by state-owned businesses. TH Group’s project differs greatly from them, as it is run by a private company and involves high-tech agriculture.

“I believe more and more Vietnamese companies will look at Russia as an up-and-coming investment target and set up businesses in the country,” said Party General Secretary Trong.

As per the plan, TH Group will complete disbursing the whole $2.7 billion investment in Russia within the next decade.

Shortly after receiving the investment certificate for the project in May 2016, TH began the construction of a dairy farm in Moscow and another in the Kaluga region in October 2016, located just under 100 kilometres south-west of Moscow. Late last year, the first 1,100 dairy cows were imported from the US to TH’s Moscow farm.

The Russian milk market is facing mounting hardships following the ban on food imports, including milk, from the EU and the US. Statistics showed that from 2013 to 2017, the milk material produced by Russia came to about 20 million tonnes, making up 76 per cent of the total demand, while the remaining 24 per cent – equalling about seven million tonnes per year – must be made up by imports.

Thai Huong, founder of TH Group, saw the opportunity and decided to invest in Russia. The plan received active support of Russian President Vladimir Putin’s administration.

The Foreign Investment Agency’s latest figures show that Vietnamese companies have registered 13 investment projects in Russia valued at nearly $3 billion.

Go-Jek to raise at least $2 billion in funding

After several weeks of aggressive marketing in Vietnam, Go-Jek, Indonesia’s most valuable technology startup, has just announced intentions to raise at least $2 billion to fuel its accelerated overseas expansion.

The Indonesian company Go-Jek plans to close the funding round in several weeks, an insider wishing to remain anonymous told Bloomberg. The last funding round has brought in about $1.5 billion of new capital and raise the company valuation at roughly $5 billion.

Go-Jek, which is backed by Tencent Holdings Ltd., Temasek Holdings Pte., Ltd., and Warburg Pincus, is building up its arsenal to expand in Southeast Asia and fight Singapore-based rival Grab, which bought Uber Technologies Inc.’s business in the region and has said it is on track to raise $3 billion in funding this year.

Go-Jek started with ride-hailing and has since added a range of on-demand services that lets users pay bills, order food, and buy movie tickets.

“We are building a strong bench who really want to make a change in Indonesia and in Southeast Asia as we expand,” Go-Jek's president Andre Soelistyo told a panel at the Milken Institute Asia Summit on Friday.

Go-Jek began motorcycle ride-hailing and courier delivery services in Hanoi on September 12 after a soft launch in Ho Chi Minh City with the name Go-Viet. The application has been downloaded 1.5 million times in six weeks and 25,000 drivers have joined the platform, according to the company. Go-Viet plans to roll out additional services, such as car-hailing, food delivery, and e-money services to cater for the 90-million market.

“Consumers need more choice and the market needs more competition to allow the industry to grow sustainably,” Go-Jek chief executive officer Nadiem Makarim said in a statement on September 12. Go-Jek is also planning an expansion in Thailand, Singapore, and the Philippines.

eDiGi joins group of authorised Apple dealers

The circle of authorised Apple dealers has gained a new member in IPPG, which launched its first APR store named eDiGi. Among the popularity of parallel products as well as the previous failure of similar stores in Vietnam, IPPG's chances for success seem thin.

Aiming to enhance the coverage of Apple stores in Vietnam, US-based Apple Inc., despite repeated failures in maintaining its branded stores in the country, has been seeking partners to develop this model, and one of the largest local branded-good distributor Imex Pan Pacific Group (IPPG) has become the latest partner in the strategy.

IPPG on September 10 launched its first eDiGi store by Apple's standards of the Apple Premium Reseller (APR) and Apple Service Provider (ASP) in Ho Chi Minh City. According to IPPG’s chairman Johnathan Hanh Nguyen, the store chain targets local consumers using parallel goods, which account for 40 per cent of Apple products circulating in the market.

Over the past few years, Apple's iPhone has been holding the third largest market share in the Vietnamese smartphone market. Despite this, Apple has difficulties in finding good locations to develop brand stores in Vietnam.

However, prompting customers to shift towards buying authorised products will be tough for eDiGi as there is little difference between parallel imports and authorised goods—if anything, the field is slightly lopsided towards parallel goods. Specifically, in addition to the more reasonable price, parallel import goods have the same guarantees as authorised goods. Therefore, the majority of Vietnamese people tend to choose buying parallel import goods to save money.

Due to the huge interest in parallel imports as well as difficulties in finding an appropriate location, prior to eDiGi, many similar store chains, such as iCenter, F-studio, and Future World, failed and currently there are only a handful of stores across the country which have been maintained by the commitments of Apple and its partners.

In light of previous failures, eDiGi's chances of success are rather slim. However, with plenty of customers from IPPG’s branded goods and other businesses, along with strong financial resources, IPPG has many advantages that could bring success for the eDiGi store chain, even when it comes to competition against firms like FPT Group and Mobile World.

Samurai Power invests $31m in IDS Equity Holdings

Japan’s Samurai Power, Inc. has announced the closing of its strategic investment in IDS Equity Holdings, a Hanoi-based company that specialises in restructuring and value investment in high-potential family businesses as well as state-owned enterprises in the fields of manufacturing and trading.

The total strategic investment of Samurai Power in IDS Equity Holdings is $31 million for significant minority shares. The largest shareholder in IDS is Leadvisors Capital Management, a Vietnamese principal investment company established in 2008 and headquartered in Hanoi.

“After a long and intensive due diligence with IDS Equity Holdings, we realise Samurai Power and IDS share a similar business philosophy and investment goals, in which we get actively involved in supporting the day-to-day operations of investee companies and driving businesses forward,” said Nobuyuki Matsukura, senior executive director of Samurai Power and board member of IDS. “Vietnam and Japan are two nations embracing the same Asian values and Samurai Power believes that IDS will soon become an international company.”

Founded in 1996, Samurai Power is the parent company of Raysum Co., Ltd., which is a public listed company on the Tokyo Stock Exchange. Raysum, founded in 1992, is a pioneer in non-performing loan trading in Japan and real estate acquisition of Japan’s state-owned enterprises via securitisation. Samurai Power Group has built the largest independent non-performing loan company in Japan.

Speaking about the strategic partnership, Huynh Minh Viet, chief executive officer of Leadvisors Capital Management and board member of IDS Equity Holdings, expressed his belief that Samurai Power is the critical missing piece in IDS’ strategy, as IDS receives not only additional capital for future investment and business plans but also global expertise and experienced human resources from Samurai Power and its affiliates.

Before Vietnam, Samurai Power invested and expanded its footprint in other markets such as India, Myanmar, Cambodia, and Malaysia. In its announcement, the firm emphasised that its strategic investment in IDS Equity is the first after nearly 10 years of intensive and thorough market watching and study, which is a testament to the quality of IDS Equity and its team.