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Many convenience stores shut down as market is too harsh

More foreign retailers have flocked to Vietnam as they believe the market is promising. But many retailers have had to leave because of stiff competition.

Investment funds for startups in Vietnam still modest

 Slow reforms of procedures in Vietnam have forced enterprises to move to other countries to start businesses, and investments in startups remain modest compared with those in regional countries.

Young artist Pham Thanh Toan to hold solo exhibition

 HCMC-based young artist Pham Thanh Toan will put on a solo exhibition of paintings from July 20 to August 10 at Craig Thomas Gallery in District 1, HCMC.

Exchange rate policy: A guessing game

 The State Bank of Vietnam has enough resources to stabilize the foreign exchange market, which is under the pressure of change due to several factors. However, it’s not easy to guess the concrete steps it will take. 

BUSINESS IN BRIEF 16/7

 Land economy management spotlighted at Hanoi conference, Numerous hi-tech agriculture enterprises licensed: ministry, Hai Phong looks towards green port city by 2020, Ministry to hold trade activities to promote longan consumption

Funds allocated to preserve Ly Son Marine Protected Area

Quang Ngai has allocated funds of $1.83 million to support ecosystem recovery and biodiversity supervision as well as strengthening the protection of the Ly Son Marine Protected Area (MPA) for the 2018-22 period.

Vinalines to auction over 280 million shares in August

 Vietnam National Shipping Lines (Vinalines) is due to sell more than 280 million shares in its initial public offering (IPO) at the Hanoi Stock Exchange (HNX) in early August.

Vietnam wins contract to export rice to RoK

A Vietnamese company has won a bid to export 60,000 tonnes of Japonica brown rice to the Republic of Korea (RoK), defeating competition from rivals of China, Thailand and Australia.

Vietnam will overcome US-China trade war influences: Minister

 As a country engaged in the development of the global value chain, Vietnam is likely to be affected by the US-China trade war, stated Minister of Industry and Trade Tran Tuan Anh.

Tattoo: from taboo to popular body art

 Tattoo has becoming more popular in Vietnam. Youngsters want to have tattoos as a reminder of their loved one, a motivation, or simply a wish for luck.

Free English class at pagoda in Hanoi

 Parents usually have to pay millions dongs for their kids to attend an English course with native speakers.

Hoi An listed as world’s 16 most relaxing places

 Hoi An central town in the central province of Quang Nam has been listed by CNN as one of the 16 most relaxing places in the world.

Homestay tourism helps improve mountainous district life

 Homestay tourism services offer chances for people in many mountainous districts of the central province of Thanh Hoa to escape poverty and improve their livelihood.

More Vietnamese prefer cashless payments

 Visa has found more Vietnamese consumers now prefer cashless and contactless payments to make the process faster.

Policies encourage renewable energy development

 New preferential policies have encouraged both local and international firms to invest in renewable energy, according to authorities.

FPT buys US-based tech advisory firm

 Information-telecommunication-technology group FPT Corporation (FPT) has acquired 90 percent of the US-based tech advisory firm Intellinet Consulting (Intellinet).

Vietnamese consumers spend less on FMCG

 Vietnamese customers’ rapidly changing needs and expectations and lower spending on fast moving consumer goods (FMCG) are the biggest challenges to the sector, according to a new report released by Kantar Worldpanel.

Social News 16/7

 Hung Yen police deal heavy blows on drug-related crimes, Underwater medicine, hyperbaric oxygen association set up, VN Summer Camp: Young expats learn history in Dong Loc T-junction

Vietnam has most affordable beaches: TravelBird

 Vietnam has most affordable beaches in the world, according to TravelBird, a Netherland-based travel company.

Maritime sector struggles to maintain workforce

The maritime shipping sector is facing difficulties caused by strong drops in its workforce.