An Giang’s export staples enjoy high growth in Q1

Workers of the An Giang Fruit-Vegetables & Foodstuff JSC 

The Mekong Delta province of An Giang posted an import-export revenue of 248.8 million USD in the first quarter of 2019, a surge of 29.42 percent year-on-year. 

The figure was reported by Deputy Director of the provincial Department of Industry and Trade Doan Minh Triet at a conference held on April 2 to review the province’s socio-economic situation in Q1 and launch tasks for the following quarter.

The province earned 211.8 million USD from export in the period, jumping 29.65 percent compared to the same period last year and hitting 23.8 percent of the year’s plan.

Most export staples of the province such as rice, fish and vegetables recorded increases in the first three months. Notably, An Giang shipped 42,780 tonnes of rice abroad, raking in 21.8 million USD, attributable to surging demands in not only traditional export markets of Indonesia, the Philippines and Malaysia but also new ones such as Bangladesh. 

The province’s rice has been exported to 38 countries, with the Asian market accounting for the lion’s share of 84.67 percent.

Meanwhile, An Giang shipped 29,000 tonnes of frozen aquatic products abroad, collecting 69.6 million USD, an increase of 8.09 percent in volume and 8.08 percent in value year-on-year. 

The province was also able to export 2,100 tonnes of frozen vegetables to 23 countries, including 11 European nations, bringing in 3.5 million USD.

In the coming time, An Giang’s rice export may face tough competition from major rice exporters of the world like Thailand and India, along with emerging ones, namely Cambodia, Myanmar and Pakistan.

However, export of frozen aquatic products, particularly tra fish (pangasius), is projected to surge with new markets, thanks to increasing demand in Asian countries, especially China.

Local authorities said the province will bolster activities to assist local firms in expanding their domestic and foreign markets, as well as improve management, production, e-commerce and international economic integration.

Construction of Van Don-Mong Cai Expressway starts

Van Don-Mong Cai Expressway is built at total cost of more than 11 trillion VND. Illustrative image (Source: baoquangninh.com.vn)

The northern province of Quang Ninh on April 3 held a ceremony to start construction of the Van Don-Mong Cai Expressway.

The highway will be constructed under the build-operate-transfer (BOT) and public-private partnership (PPP) contract at a total cost of more than 11 trillion VND (474.4 million USD).

The Quang Ninh People’s Committee has signed the contract with the joint venture of Long Van Infrastructure Investment and Development Co., Ltd, Van Don Sun JSC and Cong Thanh Transportation and Construction Corporation.

The 80.2km-long highway will have four lanes, running through the districts of Van Don, Tien Yen, Dam Ha and Hai Ha and Mong Cai city.

Construction is expected to be completed within 22 months. Fees will be collected for 20 years on the road.

Once the road is completed, it will shorten the travel time from Van Don to Mong Cai from two hours to nearly one hour.

Besides, it will connect with the Ha Long-Hai Phong and Ha Long-Van Don highways, creating the longest highway in Vietnam that runs from Lao Cai in the northern mountainous province of Lao Cai to Mong Cai via Hanoi and Hai Phong.

The highway will serve as an important transport gateway linking Vietnam and China and countries in the Association of Southeast Asian Nations (ASEAN), helping boost cross-border trade and turn Quang Ninh into a trade and service hub.   

The Van Don-Mong Cai highway is also expected to facilitate access to Van Don international airport, which is slated to open in late December.  

The Ha Long-Hai Phong Expressway was put into service in September 2018, while the Ha Long-Van Don Expressway became operational in December the same year.

Vietnam’s economy to expand 6.8 percent in 2019: ADB

ADB Country Director for Vietnam Eric Sidgwick (Source: laodong.vn)

The Asian Development Bank forecasts Vietnam’s economy to grow by 6.8 percent in 2019 and 6.7 percent in 2020. 

In its flagship annual economic publication, Asian Development Outlook (ADO) 2019, the ADB said Vietnam’s economy remains strong growth momentum though moderating amid weakening global outlook. 

Speaking at a press conference held in Hanoi on April 3 to announce the publication, ADB Country Director for Vietnam Eric Sidgwick said that the economic performance in Vietnam reached a sweet spot in 2018, driven by strong exports and domestic demand.

Economic growth will likely hold up well in the near term, supported by export-oriented manufacturing, foreign direct investment, and sustained domestic demand. The growth momentum is expected to continue, thanks to ongoing reforms to improve the business environment and encourage private investment,” he added. 

Vietnam’s inflation is expected to average 3.5 percent in 2019 and 3.8 percent in 2020, the report said. 

According to the report, growth will continue to be broad-based, underpinned by robust private consumption, the continued expansion of manufacturing, services, and agriculture, and greater market access for Vietnam’s exports through various free trade agreements, including the recently ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

It also mentioned risks for Vietnam’s economy, saying that the world’s major economies -Vietnam’s key trading partners- are weakening. Vietnam is one of the most trade-dependent countries in the region, with trade volume reaching twice the size of its gross domestic product (GDP).

Domestically, lackluster progress in state-owned enterprises reform could be a drag on growth, it added. 

The report underlined the importance for Vietnam to strengthen private firms’ integration in the global value chains (GVCs), which is a key policy challenge for Vietnam’s long-term growth.

Improving small-and medium-sized enterprises’ (SMEs) access to finance, and enhancing SMEs’ capability, including workers’ skills, are among important measures to enable SMEs to better adopt new technologies and have more value addition in GVCs, it stressed.

Vietjet Air launches Nha Trang-Taipei air route

At the launching ceremony

The budget carrier Vietjet Air officially launched a new international air route between Nha Trang, in the central province Khanh Hoa, and the Taiwanese capital city of Taipei on April 3.

The airline said the new route will help promote tourism, trade, and integration between Vietnam and Taiwan.

The route will operate weekly return flights on Wednesdays and Saturdays from April 3, 2019. Each leg takes about three hours.

The flights will depart from Nha Trang at 12:30 and arrive in Taipei at 16:35 (local time). The return flights will take off at 17:35 and land in Nha Trang at 19:55 (local time).

A representative from Vietjet Air said the airline operates over 30 flights from domestic destinations to Nha Trang. It has also opened the Nha Trang-Seoul air route and many other charter flights.

Vietjet Air is now the airline with the highest frequency of flights at Khanh Hoa’s Cam Ranh International Airport.

Vice President of Vietjet Air Nguyen Thanh Son described Nha Trang as a popular marine city with diverse culture and tourist sites, whilst Taipei is also an attractive destination for many visitors due to its unique culture.

Action plan to boost communications about VPA/FLEGT

Vietnamese wood and forestry products have been sold to over 120 nations and territories

The Vietnam Administration of Forestry (VNForest) launched an action plan on April 3 for communications to implement the Voluntary Partnership Agreement on Forest Law Enforcement, Governance, and Trade (VPA/FLEGT) between Vietnam and the European Union (EU).

Since Vietnam and the EU concluded negotiations on the VPA/FLEGT in May 2017 and signed the deal in October 2018, the demand for information on the agreement has surged, with different business groups requiring different information priorities.

The project, funded by the UN’s Food and Agriculture Organisation (FAO)-EU FLEGT Programme, will help Vietnam build and carry out programmes for disseminating the agreement and the Vietnam Timber Legality Assurance System (VNTLAS) to relevant sides in an appropriate and effective manner. It will also help the country prepare for realising information disclosure commitments under the VPA/FLEGT.

At the launching workshop in Hanoi, Nguyen Tuong Van, Deputy Director of the VNForest division for science-technology and international cooperation, said the project’s main activities include assessing relevant sides’ demand for information about the VPA/FLEGT, assessing the availability of the disclosed information, and building strategies and plans for communications and information disclosure.

The project will also compile and distribute a standardised set of materials about the agreement and the VNTLAS; provide information for the administrations of localities; and popularise information to domestic wood processors and exporters, FDI firms, and the media, she noted.

Information disclosure is currently facing numerous problems as there is a lack of sufficient, updated, and accurate data, while information and statistics are still scattered and do not match one another across various ministries and sectors.

Deputy General Director of VNForest Pham Van Dien said the VPA/FLEGT is legally binding, aiming to improve forest governance and promote the trade of legal wood and timber products from Vietnam to the EU. It will affect many parties in the country’s wood supply chain, with each of them affected at different levels and thus each requiring access to information relevant to them about this agreement.

He emphasised the project’s importance as Vietnam and the EU are preparing to implement the VPA/FLEGT. It will help solve communications and information disclosure issues so as to promote the agreement implementation.

In 2018, Vietnam earned 9.38 billion USD from exporting wood and forestry products, making up over 23 percent of the agriculture sector’s export turnover and recording a trade surplus of 7 billion USD.

The country now has about 4,500 wood processing and forestry businesses, 95 percent of which are private firms.

Vietnamese wood and forestry products have been sold to over 120 nations and territories. The country is the fifth largest exporter of wood and forestry products in the world, second in Asia, and first in Southeast Asia. 

Capital of newly-established firms surges

The number of newly-established businesses in the first quarter of this year reached 28,451 with the total registered capital of 375.5 trillion VND (16.14 billion USD), up 6.2 percent and 34.8 percent year-on-year, respectively.

According to the General Statistics Office (GSO), the average capital for each new firm was 13.2 billion VND.

In March alone, 12,472 new companies were set up, with a combined registered capital of 128 trillion VND, a surge of 111 percent in quantity and 33 percent in capital compared to the previous month. Each company registered an average of 10.3 billion VND in capital.

Together with the 722 trillion VND of additional capital injected into companies already in operation, total capital poured into the economy in the first quarter of this year was 1,098 trillion VND, reported the GSO.

GSO Director Nguyen Bich Lam said that the impressive growth of business numbers in the first quarter show the efficiency of support activities for companies.

Businesses’ confidence also rose as 54.6 percent of those in the processing-manufacturing industry expected better operations in the second quarter, said Lam.

The total number of labourers employed by new firms was 317,000, up 40 percent year-on-year.

During the period, the majority of new companies operated in the areas of retail, wholesale, automobile and motorbike repair, construction, and manufacturing-processing.

However, a number of sectors saw drops in the number of new businesses, including accommodation and restaurant services (7.7 percent), financial-banking and insurance (14.2 percent), and mining (8.6 percent).

The Central Highlands region recorded the highest rise in business numbers at 15 percent, followed by the Red River Delta at 14.6 percent, the North central coast at 8.7 percent, the Southeast at 3.2 percent, and the Mekong River Delta at 3 percent.

On the contrary, the northern midland and mountainous region suffered a fall of 6.3 percent in the number of new firms.

The GSO reported that in the first quarter, 15,050 companies resumed operations, a surge of 78 percent over the same period last year, raising the total number of operating firms to more than 43,000.

The GSO said that in the first quarter, 14,761 businesses temporary halted their operations, up 20.8 percent year-on-year, while 15,331 firms registered to dissolve, and 4,116 others completed dissolving procedures.

Nguyen Minh Thao, head of the Department of Business Environment and Competitiveness at the Central Institute for Economic Management, said that authorised agencies should work harder to speed up administrative reform to better serve businesses, thus encouraging startups and contributing to improving the scale and speed of economic growth.

Agro-forestry-fishery exports drop nearly 3 percent in Q1

Agro-forestry-fishery exports are estimated to have yielded 8.8 billion USD in the year’s first quarter, a year-on-year fall of 2.9 percent, the Ministry of Agriculture and Rural Development has said.

Major farm produce shipped overseas brought home 4.2 billion USD, down 13.4 percent, of which some 1.43 million tonnesof rice were sold in foreign markets at a value of 593 million USD, dropping 3.5 percent in volume and 20.2 percent in value.

However, the ministry relished in the rosy prospects for rice shipments in the second quarter of the year, boosted by numerous orders to be implemented in the period.

Coffee shipments also experienced a downward trend as the exported volume decreased 14.2 percent to 483,000 tonnes with earnings sliding 22.8 percent to 841 million USD. Germany and the US continued to be the largest importers of Vietnamese coffee, accounting for 22.8 percent of the country’s total shipments.

The export price of pepper plummeted 27 percent on supply pressure, causing export revenues to dwindle 18 percent to 182 million USD despite an increase of 19 percent in export quantity.

The US, India, Pakistan, and the United Arab Emirates were the biggest markets for Vietnamese pepper, together making up nearly 43 percent of the market share.

Cashew exports edged up 2.1 percent in volume to 76,000 tonnes, but prices tapered off 19.2 percent to 609 million USD.

During the period, fruit and vegetable exports earned the country 879 million USD, down 9.3 from the same time last year. China captured the lion share of Vietnamese fruits and vegetables at 73 percent. 

In stark contrast, exports of seafood and forestry products rose 0.5 percent and 16.5 percent to 1.8 billion USD and 2.4 billion USD, respectively.

The ministry said that Vietnam splashed out 7.25 billion USD on agro-forestry-fishery imports during the three months, increasing 4.6 percent year-on-year, allowing the agricultural sector to enjoy a trade surplus of 1.55 billion USD during the period. 

Nearly 15.9 mln USD of FDI poured into Quang Nam in Q1

The central coastal province of Quang Nam has attracted eight foreign direct investment (FDI) projects worth nearly 15.9 million USD so far this year, lifting total FDI projects in the locality to 176 with a total investment of over 5.8 billion USD. 

During the first three months of 2019, Quang Nam granted investment licences to 18 domestic investment projects, many in high-tech agriculture, with a total registered capital of over 3.4 trillion VND (nearly 147.2 million USD). 

Budget collection in Quang Nam in the first three months of this year reached over 7.5 trillion VND (324.7 million USD), equivalent to 32.4 percent of the target set for the year. 

Local authorities are focusing on building key projects, while promoting the restructuring of the agriculture sector in the direction of clean and high-tech agriculture development, and encouraging enterprises to invest in agriculture and urban areas. 

They also approved an investment plan to build Dong Quang Nam high-tech zone with a total investment of over 3.3 trillion VND (over 142.8 million USD). The project will cover an area of 278 ha in Binh Duong commune, Thang Binh district, including a support services area; repairs workshop; and collection, processing, and production areas. 

A high-quality agro-forestry industry park worth over 8.1 trillion VND (350.6 million USD) is being constructed in the Chu Lai Open Economic Zone with a total area of 451 ha. It is expected to be completed in 2020. 

Attention is also being paid to reforming administrative procedures, aiming to improve the Provincial Competitiveness Index (PCI) and the Provincial Governance and Public Administration Performance Index (PAPI), thus attracting more investment to the locality.

Multifunctional goods distribution platform BBLink launched

Consumers shop at a supermarket 

The Vietnam Chamber of Commerce and Industry’s Ho Chi Minh City Branch (VCCI-HCMC) and the BB Vietnam Investment and Trading Corporation has launched brand new multifunctional goods distribution platform BBLink.

Speaking at the launching ceremony on April 3, Director of the VCCI-HCMC Vo Tan Thanh said Vietnam holds a potential retail market of 97 million people, with the sector reeling in 143.3 billion USD in revenue last year.

Modern e-commerce channels account for between 20-25 percent of the market’s share, while the rest belong to traditional channels, which include over 9,000 markets and 1.4 million grocery stores. However, the distribution of goods and services still face shortcomings in terms of cost, management, and productivity assessment.

In such a context, BBLink was introduced as a more optimised platform that helps suppliers deliver their goods and services to customers via the traditional channels of over 9,000 selling points. 

Vincent Lu, head of strategy at BB Vietnam, said BBLink is a technological solution, applying e-commerce to support businesses. It helps companies gain easier and faster access to traditional distribution channels at optimal efficiency.

At the launching ceremony, BB Vietnam signed cooperation pacts with the investment fund Aptus Capital, the Vietnam Red Cross Society, and VCCI-HCMC. It also announced its 15 strategic partners.

Solar Show 2019 underway in Ho Chi Minh City

Vietnam’s leading clean energy event, The Solar Show 2019, is being held in Ho Chi Minh City from April 3-4, attracting thousands of exhibitors and experts from countries and territories worldwide. 

The second event of its kind features over 100 brands, nearly 10 percent of which are domestically-made with the latest products and solutions in clean energy. 

Experts at the event shared the latest initiatives and successes in the field. 

Mai Van Trung, Director of SolarBK Business Development, said SolarBK is the first one in Vietnam to adopt the energy service company (ESCO) model. 

According to the Ministry of Industry and Trade’s new draft, solar roof power can charge a maximum of 0.095 USD per kWh. 

As the power price recently rose by 8.36 percent in late March, room for solar power in Vietnam remains huge, experts said. 

Corporate representatives called for the involvement of financial institutions in efforts to develop the solar power market. 

At present, the Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) is assisting firms operating in solar roof power, while the BIDV Insurance Corporation is working with businesses to insure relevant projects.

Vietnamese firm attends Malaysia International Halal Showcase

Visitors to Malaysia International Halal Showcase (Source: http://mihas.com.my)

Dong Duong Vina Co., Ltd. is the sole representative of Vietnam at the 16th Malaysia International Halal Showcase (MIHAS), which opened in Kuala Lumpur on April 3.

This year’s four-day event attracts the participation of more than 1,000 exhibitors from 40 countries and territories around the world, offering a good chance for enterprises operating in the Halal industry to meet and seek cooperation opportunities.

According to the Global Islamic Economy Report 2018/2019, Islamists over the world spent a total of 2.1 trillion USD on Halal food, beverage and other products in 2017. The figure is expected to increase to around 3 trillion USD by 2023.

Pham Quoc Anh, Vietnamese Trade Counsellor in Malaysia, said that months ago, the Vietnam Trade Office had intensified disseminations about the showcase to Vietnamese businesses and invited them to participate in the event.

However, Vietnamese enterprises are showing little interest in this exhibition as only the Dong Duong Vina Co., Ltd. is taking part in the event.

Anh advised businesses to actively participate in activities at MIHAS, as Malaysia is a big Halal market and has a Halal certification office in Vietnam. 

Therefore, the participation in this market will bring huge benefits to Vietnamese businesses, he added.

First smart rice cultivation model piloted in Hau Giang

Smart rice cultivation piloted in Hau Giang 

The Mekong Delta province of Hau Giang on April 3 piloted its first smart rice cultivation model in Vi Thang commune, Vi Thuy district.

The model is jointly carried by several local units and Rynan Holdings JSC, whose smart rice cultivation technologies are being applied in several Mekong Delta provinces.

Covering a total area of 12ha, the model attracts the participation of 12 local households.

The model can cut water volume for production by 30 percent, labour and seedling costs by over 50 percent, and fertiliser and other greenhouse gases by over 40 percent. As a result, it can boost profits by 20 percent compared with normal cultivation.

The pilot of this model is the first step Hau Giang is taking to turn its chemical agriculture into an organic agriculture.

At present, over 80 percent of Hau Giang’s population make their living through agriculture. The locality is taking advantage of all resources and opportunities to apply technological advances of the fourth Industrial Revolution in local production.

Social homes for rent fail to attract customers in Hanoi

A view of the Dang Xa social housing project in Gia Lam district, Hanoi 

The uptake for social housing in Hanoi has been disappointingly low due to indifference from the intended target customers.

According to official statistics, by the end of 2018, Hanoi’s population stood at 9.6 million – including those from other localities residing long-term in the city. The World Bank said 60 percent of this figure fall into the middle and low-income groups, with real demand for dwelling spaces.

Even with the preferential loan rates and other support policies from the central government and local authorities, not everyone can afford to buy out social housing apartments and it’s expected that these people would opt to rent these low-cost apartments instead. However, the backlog of vacant rental apartments continues to grow in Hanoi.

Investors in the city are getting increasingly anxious as the bleak situation persists despite numerous open biddings, while they still had to pay bank interests and the apartments deteriorate from sitting empty.

As per regulations, social housing investors must allocate some 20 percent of their apartments or homes in their projects for rental.

The Bamboo Garden project in the rural district of Quoc Oai, for example, has 432 social apartments – 346 for sale and 86 for rent.

The municipal Department of Construction officially started to receive applications for purchase and rental at the project since October last year but after 15 biddings, there has not been a single customer interested in renting an apartment at the project despite attractive price tags of 66,000 VND (2.85 USD) per sq.m per month.

The Phu Lam social housing project in Ha Dong district is also struggling to deal with the burden of 384 empty rental apartments.

According to the Department of Construction, the city plans to have 6.3 million sq.m of social housing by 2020.

By now, from nine completed projects, 43 underway and the 20 percent of area reserved for social housing from 58 commercial projects in the city, the city has 4 million sq.m for social housing and the fear is growing that the area reserved for rental in this figure is going to waste.

Despite the expenses and responsibilities that come with purchasing a home outright, the mindset of homeownership still prevails in Vietnamese society, even among the younger generation that has not yet achieved financial independence, experts said.

Another reason, probably the rental fee, might not be as attractive as it seems.

Bui Hong Anh, a public servant working in Dong Anh district, said that if he was to rent an apartment for his family over 40 years, the rental fee would total 1.2-1.5 billion VND, equal to the price of a social housing apartment. So, he decided to get a bank loan and bought a home instead.

Nguyen Tran Nam, Chairman of the Vietnam Real Estate Association (REA) and former Deputy Minister of Construction, has recently called for a shift public perception from having to ‘own a house’ to ‘having a place to live’.

The location of the social housing projects is also a concern.

Clustered mostly outside the expensive centre of Hanoi, the social housing projects may boast affordable price tags even to low-income groups but ultimately the long commute between home and work on the frequently congested Hanoi streets rendered this advantage a moot point. On the other hand, there are too few affordable housing projects for low income groups in the areas packed with companies, manufacturers or organisations’ headquarters.

Tran Ngoc Hung, Chairman of the Vietnam Federal Association of Civil Engineering, stressed the importance of a place to live as a concept that encompasses not just the house, but also the surrounding environment, traffic connectivity and numerous other social and services facilities like schools, markets, or hospitals.

“Had these elements proved wanting, no one would like to come and live,” Hung said.

A representative from an enterprise that has invested in several social housing projects in densely populated districts of Long Bien and Hai Ba Trung told Vietnam News Agency that the current rigid policies are hampering the investors’ business and asked for more flexibility, allowing investors to repurpose the unused rental apartments to allow for more people to buy them.

Nguyen Manh Ha, Vice Chairman of REA, said that in the Republic of Korea, poor citizens incapable of renting social housing apartments would be entitled to schemes that allow them to rent these places for 30 percent lower than the market price, while those with more financial capacity would have their rental fees cut by 15-16 percent.

For the middle-income groups, the government would give them preferential lending rates that enable them to buy the houses outright, Ha said.

Lang Son aims to serve 2.9 million tourists in 2019

Visitors at Tan Thanh pagoda, a spiritual tourism destination in Lang Son province (Photo: baodulich.net.vn)

The northern border province of Lang Son hopes to receive more than 2.9 million tourists this year, including 435,000 foreigners, bringing in some 1 trillion VND (43.11 million USD), according to local authorities.

To realise the target, the province will focus on ecotourism, resort tourism and cultural and spiritual tourism, head of the province’s steering committee on tourism development Duong Xuan Huyen has said.

Lang Son has worked to encourage local people’s engagement in tourism development and participation in building the province as a friendly destination.

Along with improving quality and diversifying services in current attractions, the province also eyes new tourism projects, notably at Dong Dang railway station in Cao Loc district and another to develop farming and animal husbandry in combination with ecotourism in Chi Lang district.

In addition, Lang Son’s tourism authorities have bolstered exchanges with their counterparts of China’s Guangxi Zhuang Autonomous Region to enhance tourism cooperation in the Vietnam-China border area.

The sector has also worked with Guangxi’s Department of Culture and Tourism to organise courses to improve quality tourism and language proficiency for tour guides.

In the future, the province will run more local cultural and tourism events, as well as trade promotion activities, including a programme on northern provinces’ heritage sites, along with the Chi Lang custard-apple and Bac Son tangerine festivals.

Statistics of the provincial Department of Culture, Sports and Tourism show Lang Son welcomed more than 1.03 million visitors in the first three months of 2019, up 10.4 percent year-on-year and hitting 35.3 percent of the year’s plan. Of the figure, there were 122,600 foreign visitors.

Earnings from tourism services reached 320 billion VND (13.79 million USD) in the period, up 4.9 percent compared to the same time last year.

International broadcast and audio-video expo opens in HCM City

Visitors can see newly released games at the Vietnam International Game & Content Showcase (GAMECON) that opened in HCM City yesterday (April 3). — Photo echip.com.vn

 The 7th Vietnam International Broadcast & AV Show opened on Wednesday at the Saigon Exhibition and Convention Center in HCM City.

It showcases a wide range of latest technologies and products for TV production, delivery distribution, test and measuring, and pro-audio visual solutions.

According to the organiser, ExpoForum Inc, the annual event enables participants to develop new contacts and networks.

The Vietnam International Game & Content Showcase, which is part of VIBA Show, has attracted leading technology companies such as Samsung, Gigabyte, MSI, Thermaltake, Dreamer Land and WD.

The reigning champion of PUBG South East Asia Championship will participate and hold a professional PUBG Battle with other teams and play demonstration matches at the expo.

The three-day event is expected to receive more than 20,000 visitors. 

Seminar hails Vietnam retail market as attractive to investors

Representatives of BB Vietnam Investment and Trading Corporation and the Việt Nam Chamber of Commerce and Industry sign an MoU in HCM City on Wednesday to support local firms to expand their distribution system.

 The Vietnamese retail market is highly attractive to investors given the country’s population of over 97 million, rapid economic growth and an increase in income and consumption, a seminar heard in HCM City on Wednesday.

Speaking at the seminar on Multi-task distribution platform- BB Link – Optimal solution for Vietnamese manufacturing firms, Vo Tan Thanh, vice president of the Viet Nam Chamber of Commerce and Industry, said retail sales increased by 12.4 per cent last year to US$143 billion.

“Many foreign investors have invested in Viet Nam’s retail sector in the past.

"Retail ranked sixth among sectors attracting the largest foreign direct investment.”

Many large retailers from Thailand, South Korea and Japan have increased their investment in Viet Nam, and many US retailers had shown interest in the market, he said.

Local giants such as Saigon Co.op and Vingroup had also made bold investments in the sector, he added.

Nguyen Ngoc Dung, vice president of the Viet Nam E-Commerce Association, said the e-commerce sector had also grown strongly in recent years and now had many different trading platforms.

But 70 per cent of their transactions are from Ha Noi and HCM City, and his association was striving to increase e-commerce transactions in other cities and provinces to ensure they account for 50 per cent by 2025, he said.

Thanh said despite strong growth in recent years the modern channel only accounted for 25 per cent of retail sales.

The traditional channel with over 9,000 markets and 1.4 million grocery stores accounted for the rest, he said.

Vincent Lu The Hung, chief strategy officer of BB Vietnam Investment and Trading Corporation, said the retail sector had great potential.

But manufacturers, importers and distributors had difficulty distributing their products through the traditional channel due to high risks, high transport fees, poor store management, and other factors, he said.

His company had set up BB Link, a platform that enables businesses to directly sell merchandise to traditional markets and grocery stores through its warehouse and logistics system, he said.

With this platform, businesses can easily and quickly access traditional distribution channels cost effectively thanks to the use of advanced technologies such as artificial intelligence and big data, he said.

The BB Link platform would also operate in other countries like India, Indonesia, the Philippines, Malaysia and Thailand and so Vietnamese firms could take advantage of it to distribute their products abroad, he added.

The seminar witnessed the signing of a memorandum of understanding between Aptus Capital and BB Link to offer investment services.

BB Vietnam also signed an MoU with the VCCI to organise training courses and other activities to enable local firms to capitalise on its multi-task distribution platform as well as support them to boost export to other markets. 

Renewable energy exhibitions open in HCM City

Hundreds of policymakers, regulators, investors and financiers are attending the two-day Solar Show Vi?t Nam 2019, Power & Electricity Show Vi?t Nam, Energy Storage Show Vi?t Nam, and Wind Show Vi?t Nam, which opened yesterday in HCM City.  

The trade shows have also attracted power producers, project developers, renewable energy vendors, and business owners and land developers.

Sharon Roessen, managing director of Terrapinn, a global events company, and the organiser of the trade shows, said: “The future of energy in Vi?t Nam is bright, and Vi?t Nam looks very serious about growing the energy sector.”

The Solar Show Vi?t Nam this year aims to help drive the country’s renewable energy agenda forward, Roessen said. Prominent speakers and guests include senior representatives from the government and local utility Electricity of Vi?t Nam (EVN).

Nguy?n Tâm Ti?n, CEO of Trung Nam Group, said with some 100GW of additional capacity forecast by 2030, and a ten-fold increase in renewable energy generation, Vi?t Nam is interested in the future of its energy sector. Solar power is poised to be a key part of it.

The exhibition and conference will drive interest in the growing renewable energy industry in Vi?t Nam.

It also seeks to raise awareness about the variety of renewable energy solutions available for all sectors – power plants and utilities, factories and manufacturing plants, large-scale buildings, and investment and development.

More than 3,000 industry attendees are expected to visit the show.

In addition to the main conference, exhibitors will showcase the latest in energy technologies, ranging from home solar rooftop systems, energy storage solutions, inverters and lighting solutions to hybrid and intelligent systems and more.

As many as 120 exhibitors from Vi?t Nam, Asia Pacific and beyond are taking part.

In June, solar power investors will be granted land use fees and duty and tax exemptions, and will be able to mobilise both domestic and foreign capital.

With almost 66 per cent the population living in rural areas, Vi?t Nam is also scaling up its efforts to bring electricity to the entire population, whether on or off-grid, increasing electrification rates, and preparing the country for growth. 

Lexus Vietnam introduces new Lexus RC 2019     

Lexus Vietnam on Monday introduced new Lexus RC 2019 – a luxury sports coupe.

Taking the driving concept of “sharper and more graceful” that defined the LC, Lexus engineers have succeeded in making the new RC fun to drive by focusing their attention on details.

The new Lexus RC300 2019 will be available in two Lexus dealers of Thang Long in Ha Noi and Saigon in HCM City since April 2019.

The Lexux RC 300 costs up to VND 3.3 billion (US$142,200). 

Vietnam-based healthcare startup raises $5m from Singaporean fund     

 Vietnamese based healthcare start-up JIO Health has clinched US$5 million in a Series A financing round led by Singapore venture firm Monk’s Hill Ventures, according to the news site Tech in Asia.

JIO Health plans to use the proceeds from the investment to further expand its suite of services and meet its growth expectations, it said in a statement.

The start-up is also trying to expand the scale of the team providing care and operations in Viet Nam.

Founded in 2014 by Raghu Rai and serial entrepreneur Ken Rohl in the US, the start-up was relocated to Viet Nam after its founders saw the opportunity to offer tech-driven healthcare services to people who live in Southeast Asia.

The company operates an online healthcare app as well as a brick-and-mortar clinic in HCM City to provide a range of medical services, including paediatrics, primary care, chronic disease management and ancillary care. JIO Health also offers home visits by doctors, a telemedicine portal, deliveries of lab test results, and access to digital medical records. 

Thanh Hoa Water Supply raises US$15.7 million from share sale 

Thanh Hoa Water Supply JSC on Wednesday sold 11.05 million shares on the Ha Noi Stock Exchange (HNX), earning VND365.7 billion (US$15.7 million).

A total of 16 investors, including one institutional investor, signed up for the auction and registered to buy a total 117.2 million shares.

Four individual investors successfully purchased all shares offered for sale at the auction.

The highest bid price was VND51,000 ($2.19) per share and the lowest was VND12,000 per share. The company set the initial bidding price at VND12,000 per share.

Thanh Hoa Water Supply JSC is one of the five companies that put shares up for sale on the HNX in April.

The Saigon Bank for Industry and Trade (Saigonbank) will auction more than 15 million shares on April 19, according to the HNX.

The total number of shares to be auctioned on the HNX in April is more than 37.4 million shares.

Other companies include Thuan An Coffee Co Ltd, which will sell more than 1.34 million shares on April 26.

In March 2019, investors bid for shares of six companies on the HNX. Among those firms were the ceramic and tile producer Viglacera, Lilama 18 JSC and Lilama 69-1 JSC.

The three companies received total VND1.67 trillion from selling their shares with Viglacera’s income accounting for 95 per cent of the total.

The total value of shares sold in March 2019 reached VND1.76 trillion. 

Vietjet receives new A321neo aircraft  

 Vietjet on Wednesday added a brand new A321neo from Airbus to its fleet.

The handover took place in Toulouse, France, in the presence of Vietnamese National Assembly Chairwoman Nguyen Thi Kim Ngan who is on an official State visit.

This A321neo is the 60th aircraft of its model that Vietjet has received directly from Airbus, among almost 80 aircraft that the airline is operating.

Currently, Vietjet operates a fleet of new Airbus A320 aircraft with an average age of 2.82 years, making it the youngest fleet in the world.

According to Vietjet vice president Dinh Viet Phuong, the A320 aircraft has greatly contributed to Vietjet’s impressive operation performance, including the airline’s technical reliability rate of 99.64 per cent in recent years and to be among one of the airlines with the lowest operating costs in the world.

“The delivery of this new A321neo emphasises Vietjet's great efforts to grow and modernise our fleet, so we can continuously contribute to the growth of tourism and economies across the region, while meeting our utmost objective, bringing maximum comfort, joy and safety to our valued passengers,” Phuong said.

With its maximum flexibility, fuel efficiency and the lowest possible operating costs in its size category, the A321neo provides the ideal platform for the carrier’s growth, Jean-Francois Laval, Airbus Executive Vice President Sales Asia, said.

“We are honoured to be a key partner of Vietjet, and we look forward to seeing more of our aircraft flying in its colours,” he said.

Fitted with 230 comfy leather-covered seats and high-quality carpeting, the first five rows of Vietjet’s spacious new A321neo have been especially designed to accommodate passengers who choose to fly Skyboss, the airline’s premium service. 

The aircraft’s interior also features a lively lighting system and a striking decor that combine to create a comfortable and refreshing ambience through the whole cabin.