Vietnam has recorded a trade surplus of 4.72 billion USD in the first two months of 2024, higher than the figure of 3.5 billion USD reported in the same period last year, according to the General Statistics Office (GSO).

In the period, the country's total import-export turnover is estimated at 113.96 billion USD, up 18.6% year-on-year.

Specifically, exports are estimated at 24.8 billion USD in February, down 28.1% month-on-month, and 5% year-on-year; and at 59.34 billion USD in the first two months, up 19.2% year-on-year.

There are 11 commodities that recorded an export value of over 1 billion USD each, accounting for 75.1% of the total export revenue. Notably, four commodities see their export value surpassing 5 billion USD.

Meanwhile, imports are estimated at 23.72 billion USD in February, down 23.2% month-on-month, and at 54.62 billion USD in the first two months, up 18% year-on-year.

The US was Vietnam's largest export market in the period, with an estimated turnover of 17.4 billion USD, up 33.7% year-on-year, while China was the country's biggest import market with an estimated turnover of 20.9 billion USD, up 49.7% year-on-year.

Da Lat honoured with Asia Festival City Award

Da Lat, known as the city of thousands of flowers, has been honoured with the Asia Festival City Award by the International Festivals & Events Association – Asia (IFEA – Asia) based on its successful organisation of the Da Lat Flower Festival since 2005.

The award in the “Best Flower and Garden Festival” category was presented to the capital of the Central Highlands province of Lam Dong at the 2024 Pinnacle Awards & Asia Festival City Conference in Thailand on February 28.

Other categories are in music festival, dance festival, cultural heritage night, Asian folklore festival, and entertainment festival.

Da Lat was also in the top five Impressive Festival Cities in Asia.

In its dossier submitted to the IFRA- Asia to become a candidate for the award, Da Lat city highlighted that the biennial Flower Festival aims at honouring the values of flowers and floriculture, calling for investments in the local flower sector, and popularising local culture and beauty.

The festival has become a national and international-level cultural and tourism one.

Earlier, Da Lat was also honoured as an ASEAN sustainable city, an ASEAN clean tourism city, and a Vietnam smart city.

PM wants Tan Son Nhat Terminal T3 completed by end-April

Prime Minister Pham Minh Chinh has said Passenger Terminal T3 at Tan Son Nhat International Airport in HCMC must be finished by April 30 this year, the local media reported.

This order was stated in PM Chinh’s conclusion which was issued following his field trips to a number of key infrastructure projects.

The PM called for concerted efforts to meet this deadline, with the Airports Corporation of Vietnam (ACV) told to review connectivity options among Tan Son Nhat airport’s terminals to ensure smooth internal traffic.

PM Chinh also tasked the HCMC People’s Committee with expediting the construction of roads connecting to Terminal T3 within the year.

Regarding the Long Thanh International Airport project, he stressed the importance of stepping up its progress, with a target completion date set for the first half of 2026.

For the HCMC Beltway No. 3 project, PM Chinh instructed the city’s authorities to finalize plans for the supply of filling materials, particularly sand. He also urged the authorities of Dong Nai Province to boost land clearance and ensure the handover of 100% of cleared land by June 30 this year.

Vietnam welcomes over 22,000 new firms in two months

Vietnam saw more than 22,000 newly-established firms in the first two months of this year with total registered capital amounting to 218.71 trillion VND (over 8.87 billion USD), according to the General Statistics Office (GSO).

The figures represented yearly increases of 12.4% in the number of firms and 32.8% in capital, it said.

Sectors recording an increase in the number of new businesses in the two months included the mining industry (29%); warehouse transportation (27%); other service activities (22%) and agro, forestry and fisheries (20%).

During the reviewed period, nearly 18,970 enterprises resumed their operations, rising 4.4% over the same period last year. The latest addition pushed the total number of newly-established businesses and firms resuming operations to 41,097, up 8.5% year on year.

In February alone, however, there were more than 8,590 new enterprises with total registered capital of 67.26 billion VND, down 3% and up 2.5% respectively.

Over 49,270 businesses temporarily suspended operations from January to February, a yearly hike of 27%. However, 44,265 or 89.8% of the total were small-sized with a scale under 10 billion VND.

Meanwhile, 62,977 businesses left the market, up 22.5% year-on-year, and 10,034 firms waited for dissolution procedures, up 6.5% on year. More than 3,670 enterprises completed dissolution procedures, up 14.5%.

Last year, nearly 160,000 new enterprises were set up in the country, up 7.2% year-on-year. This highest-ever figure was 1.2 times higher than the average of the 2017-22 period, surging 4.6% compared to the estimate for the year.

Vietnam to join conference on global agricultural supply chain connection

Vietnamese businesses operating in agriculture will attend the Agricultural Supply Chain Asia conference (ASCA) co-hosted by the US Grains Council, the US Wheat Associates, and the US Soybean Export Council from March 18 – 20, according to the Vietnam Business Council for Sustainable Development (VBCSD) under the Vietnam Chamber of Commerce and Industry (VCCI).

The conference will be held in both in-person and online formats, expecting to attract crowds of representatives from agricultural businesses from many countries and territories.

For more than a decade, this conference has served as an important business-to-business platform and an prominent highlight in the Crop Calendars for Southeast Asia.

Delegates will focus their discussion on issues related to the integration of sustainability and innovation for future agriculture development. They will join sessions to provide the latest market updates and information on the agricultural sector.

They will not only analyse current challenges but also jointly envision and propose a future direction for the agriculture and food sectors in Southeast Asia.

The conference is hoped to provide an opportunity for Vietnamese businesses to approach and learn about this cooperation journey and connections, thus getting more business opportunities in the future.

Organisers said that ASCA offers a venue for connecting and promoting trade discussions and business prospects for agricultural products from the US as well as many other countries.

The VCCI said participants should be agricultural importers and exporters; providers of transportation, logistics and other services on grain trade; businesses specialising in food, animal feed and agriculture; and purchasing and quality control specialists for government and private entities, grain and transportation analysts, and agribusiness consultants.

US extends investigations into wooden cabinets from Vietnam

The US Department of Commerce (DOC) has announced the extension of the deadline to issue the final conclusion on the investigation of the product scope of wooden cabinets imported from Vietnam, according to the Trade Remedies Authority of Vietnam (TRAV).

The final conclusion is expected to be issued on April 5, it said.

The DOC also decided to extend the deadline to issue the preliminary and final conclusions of its investigation into the alleged circumvention of trade defence tax evasion of Vietnamese wooden cabinets. It plans to issue the preliminary and final conclusions of the case by April 19 and July 18, 2024.

The DOC’s investigations of the product scope for wooden cabinets imported from Vietnam and trade defence tax evasion were launched in May and June 2022, respectively.

In September 2023, the DOC issued an investigation notice to adjust the preliminary conclusion that it issued in March 2023, which listed three cases of wooden cabinets imported from Vietnam, which have suspected components made in China.

According to TRAV, since April 2020, the US has imposed anti-dumping and subsidy duties on wooden cabinets originating from China, with anti-dumping duties ranging from 4.37% to 262.18% and anti-subsidy duties ranging from 13.33% to 293.45%.

Collaboration with MSCI and FTSE Russell: State Bank works towards upgrading stock market

The State Bank of Việt Nam has actively collaborated with two renowned rating organisations, MSCI and FTSE Russell, to address inquiries and concerns related to the banking sector. The aim is to facilitate the prompt upgrading of Việt Nam's stock market.

The statement was made by Deputy Governor of the State Bank of Việt Nam, Phạm Thanh Hà, at a conference to discuss the development of the stock market in 2024 at the Government Office on Wednesday in Hà Nội.

Currently, the Việt Nam Stock Market is categorised as a Frontier Market, according to both MSCI and FTSE Russell.

Notably, FTSE Russell has included Việt Nam in the list of countries awaiting an upgrade to an Emerging Market.

The State Bank of Việt Nam (SBV) has shown great interest and is proactively cooperating with the Ministry of Finance on finding solutions to support the stock market's upgrade.

"The SBV has closely worked with the two rating organisations to answer investor queries and tackle concerns related to the banking sector. We have also focused on developing the foreign exchange market and providing foreign exchange liquidity when necessary to meet the growing demands of investors, especially foreign ones," Hà said.

"The SBV remained committed to closely monitoring market trends, both domestic and international economic situations, and maintaining strong coordination with fiscal policies. This approach ensures proactive, flexible, and harmonised management of monetary tools and policy solutions. The aim is to control inflation, contribute to macroeconomic stability, and foster sustainable economic growth," he said.

According to Hà, to achieve synchronised, transparent and sustainable financial market development while ensuring stable and secure stock market operation, the SBV recommends three key solution groups to the Ministry of Finance and the State Securities Commission.

Continued research, review and enhancement of the legal framework for the stock market is needed. This will create a conducive environment for securities companies to issue stocks and bonds in the market. Additionally, close coordination with relevant ministries and agencies will be vital to implement synchronised solutions for stock market development.

He stressed the diversification of types of investors in the market by encouraging the active participation of funds, insurance companies, foreign investors and other entities. This will help broaden and deepen market engagement.

Close and effective communication between the Ministry of Finance and the SBV is crucial to strengthen coordination between monetary and fiscal policies. This collaboration will facilitate a comprehensive approach to managing the financial market. 

Despite being classified as a Frontier Market by global market rating organisations, there is a growing perception among foreign investors that the Việt Nam Stock Market is an emerging market, said Việt Nam's Chairman of HSC Securities Company, Johan Nyvene.

Việt Nam has demonstrated positive aspects such as economic growth and a stable socio-political environment, leading to high evaluations of its national credit rating by international organisations. Currently, the Việt Nam Stock Market's trading exchanges are members of the World Federation of Exchanges (WFE) and its legal framework meets the standards followed by developed markets, Johan said.

In order to further advance the market, it is necessary to consider adjusting or removing the requirement for pre-trading collateral, particularly for foreign institutional investors. Such a change would enhance the market's appeal to foreign institutional investors and facilitate the upgrade of Việt Nam's stock market.

Improving and strengthening the disclosure of information in English by regulatory agencies, listed companies and market participants is also crucial. This includes timely communication with listed companies to ensure they understand the benefits of English disclosure and proactively update information, he said.

Dominic Scriven, Chairman of the Board of Directors of Dragon Capital Việt Nam, emphasised the significant functions of the stock market. It serves as a vital channel for capital flow for both the government and businesses.

The stock market helps assess the quality of businesses and their commercial operations. The presence of financially transparent companies with confirmed non-risk interest rates is key to ensuring Việt Nam's long-term capital value, he said. 

VN businesses likely take opportunities to promote rice exports

As demand for rice imports in many markets increases, along with prices also, Vietnamese rice exporters need to take full opportunities to promote rice exports. 

To do that, businesses must firmly grasp information and ensure rice supply.

Those were the main contents discussed at the monthly meeting of the Trade Promotion Agency, the Ministry of Industry and Trade (MoIT), with its Vietnam Trade Office system abroad held by the agency in Hà Nội on February 29.

Trần Quốc Toản, deputy director of MoIT's Import-Export Department, said that agricultural exports, including rice, have seen positive signals since the beginning of this year.

According to the General Statistics Office, as of February 15, Việt Nam's rice exports reached 663,209 tonnes, earning $466.6 million. The exports increased by 14.4 per cent in volume and 53 per cent in value compared to the same period in 2023.

Meanwhile, the average rice export price was at $703.5 per tonne, up by 33.65 per cent over the same period in 2023.

Experts predict that the rice import demand of many countries will tend to increase in 2024, including Việt Nam's largest rice export markets such as the Philippines, Indonesia and China, according to the Import and Export Department. Because global rice trade continues to be affected by India's policy of temporarily suspending rice exports.

Along with that, the global rice supply is forecast to be lower as the main supply from India, accounting for 40 per cent of the global output, will decrease by 4 million tonnes compared to the previous year to 132 million tonnes. Other suppliers such as Thailand and Cambodia, are also forecast to reduce rice output due to the impact of the El Nino phenomenon and climate change.

At the same time, global ending inventories for the 2023-2024 crop year are forecast at 167.2 million tonnes, down 8.6 million tonnes compared to the previous crop year, the lowest inventory in the past six years.

In addition, the department said that Việt Nam also has advantages from free trade agreements with its partners such as the EU, South Korea and Japan, to boost rice exports. While, other great potential markets such as the US and Middle Eastern countries, are also showing positive signs.

To take the opportunities to maintain rice exports to traditional markets and to also enter the potential markets, MoIT has been implementing key solutions, including coordination with the Ministry of Foreign Affairs and the Ministry of Agriculture and Rural Development in diversifying export markets, increasing market shares in new export markets, and enhancing competitiveness for Vietnam's rice industry, according to Toản.

The ministry also continues to closely monitor the situation of the world rice trade market, as well as the moves of major rice-producing and exporting countries. Then, it will provide market information to other ministries, sectors, the Vietnam Food Association, traders and exporters to proactively regulate rice production and business.

The trade promotion agency continues to have flexibility in the organisation of trade promotion activities, combining traditional and online forms, to strengthen rice trading activities with traditional markets such as Indonesia, China and Africa.

Việt Nam will also continue to boost exports of fragrant rice and high-quality rice to the EU, South Korea and North America.

MoIT will carry out Việt Nam's rice export market development strategy until 2030. At the same time, it supports for rice traders to improve production and business capacity, and to have more market information, and experience in negotiation, signing and implementation of export contracts. It will also help businesses solve international trade disputes.

Nguyễn Ngọc Nam, Chairman of the Việt Nam Food Association, proposed that MoIT should quickly provide up-to-date information on export and import data of countries, thereby helping businesses proactively have rice export plans.

At the same time, the ministry needs to raise businesses' awareness in meeting the standards of export markets.

MoIT recommends that the association provides information about FTAs for the businesses, helping them improve processing and production capacity to meet market requirements, Toản said.

Vũ Bá Phú, director of the Trade Promotion Agency, also noted that the trade offices, have monthly reports on the rice market situation and the management of rice products in the host country, thereby helping the agency provide timely support to localities in rice production and business.

In 2023, Việt Nam's rice exports reached 8.1 million tonnes, worth $4.68 billion, up 14.4 per cent and 35.3 per cent respectively, compared to the previous year.

Of which, Việt Nam's largest rice export market was ASEAN, accounting for 61 per cent of the country's total rice exports with 4.9 million tonnes, an increase of 24 per cent over the previous year. 

Consumers rely on social media for product research before making purchase decisions: Report

There is a huge appetite for social media across the Asia Pacific region, with 60 per cent of the world’s social media users coming from the region, including Việt Nam, according to a report released by DoubleVerify, a software platform for digital media measurement, data and analytics.

The “Raising the Bar in APAC: How Media Quality and Performance Drive Outcomes” report, collaboratively produced with industry intelligence WARC last year, surveyed 329 marketers across the region.

DoubleVerify on Tuesday disclosed a number of findings with great relevance and utility for players in the advertising industry across the Asia Pacific that provide them with valuable insights to enhance their advertising performance.

The report found that marketers in the region recognise the importance of measuring media quality, with 91 per cent agreeing that it is important to do so to drive performance in digital advertising, and 98 per cent using ad verification tools in their campaigns.

But the report showed ad verification tools are not “always on” for APAC marketers, with one in three using them only on an ad-hoc basis.

A significant portion fail to evaluate digital media buys against core quality metrics, with only 17 per cent evaluating critical effectiveness indicators like brand suitability, viewability, fraud, or if the ad was served in the intended geography.

“In the dynamic landscape of digital advertising expenditure growth in the Asia Pacific, it is imperative for advertisers to protect their investments through continuous verification across all channels, to prevent loss of media investment to fraud, viewability and brand suitability violations,” Jeremy Chang, DoubleVerify’s senior director for SEA and North Asia, said.

The changing landscape of social media and the ascent of retail media, highlighted by DoubleVerify, are reshaping the strategies through which advertisers harness digital platforms.

From the initial discovery phase to the final purchase decision, consumers in the Asia Pacific region engage with social media at different stages of the purchasing journey.

In Việt Nam, a substantial 59 per cent of consumers rely heavily on social media to conduct product research before making their purchase decisions.

Super-apps are also a big phenomenon at the moment, with local commerce marketplaces such as Grab, Lazada and Websosanh having grown in popularity as discovery channels, beating out social media and Google search.

Marketers agree with the rising significance of retail media, with 99 per cent of APAC marketers planning to increase retail media spend over the next 12 months.

Some 98 per cent of marketers surveyed said they use attention metrics measurement tools to evaluate digital media purchases, but traditional metric measurements alone are not enough.

Developments in AI will have a far-reaching impact on the advertising industry, especially the predictive capabilities of machine learning, to optimise ad performance in various areas.

Corina Trang Luong, senior sales director for Việt Nam at DoubleVerify, said: “At DoubleVerify, we see Việt Nam as a flourishing market with significant potential in the digital business landscape.

“According to Statista, Việt Nam is the third fastest growing advertising market in Southeast Asia, expected to reach US$2.6 billion by 2024, which offers marketers a unique opportunity to optimise campaigns and expand their audience reach.

“We encourage Việt Nam’s marketers to prioritise media quality, with emphasis on core quality metrics as highlighted in our report.

“By ensuring always-on verification across all channels, marketers can safeguard their investments. Otherwise they risk wasting media dollars.” 

Việt Nam has advantages in exports to Europe, America

The European - American Market Department at the Ministry of Industry and Trade is confident exports will boom this year.

The free trade agreements (FTAs) with Europe and America would continue to have a positive impact, enabling Việt Nam to sustain its advantages in trade and investment, it said.

Meanwhile, demand in the global market, including Europe and America, is gradually recovering because inflation had begun to subside since the end of 2023.

The rate was likely to fall to targeted levels, including the 2 per cent set by the European and US central banks.

Besides, developed countries continue to promote diversification of supply chains and investment sources, which helped Việt Nam become important to the global value chain.

They also promoted the green and circular economies and digital transformation, opening up many new cooperation opportunities and promising financial and technology support to Việt Nam.

But Vietnamese trade will face many challenges this year due to the unpredictable global scenario.

Global economic growth is forecast to fall.

Geopolitical conflicts persist and protectionist policies are increasing.

Developed countries claim to be paying more attention to sustainable development, the fight against climate change and consumer safety, giving them the justification to set stricter standards related to supply chains, raw materials and labour for imports.

Countries are diversifying supply chains away from China, focusing on a number of its neighbouring and rival countries such as Turkey, Mexico, India, Indonesia, and Bangladesh.

This also means more competition for Việt Nam's exports.

So the Ministry of Industry and Trade plans to undertake trade promotions and closely monitor the market situation and economic, political and policy changes around the world that could affect Việt Nam’s trade to issue warnings to the business community and make appropriate policy responses. 

It plans to regularly update information on major import-export markets and make assessments of opportunities and challenges for businesses to develop appropriate strategies and plans.

It plans to coordinate with relevant parties, businesses, businesses associations, and localities to arrive at market development strategies for the US, EU, Latin America, and the Commonwealth of Independent States for the period until 2030.

It will focus on solutions for each market and industry, including by raising increase awareness of new approaches to the circular economy, sustainable production and consumption, to change the thinking of businesses and encourage the use of technology and renewable energy.

It will seek to mitigate the limitations Vietnamese businesses have with respect to market information and self-sufficiency in the supply of raw materials, production capacity and building brands.

It will coordinate with the country’s trade offices abroad to help businesses exploit export markets, take advantage of FTAs, mitigate their difficulties, and protect their legal rights.

In 2023 Việt Nam’s trade with Europe and the US witnessed a significant decrease.

Việt Nam’s trade with Europe and the US last year was worth US$208 billion, down 9.5 per cent from 2022, Công thương (Industry and Trade) newspaper reported.

Of this, the exports stood at $166 billion, down 9.6 per cent, and imports, $41 billion, down 9.1 per cent.

Việt Nam's trade surplus was $33 billion with Europe and $92 billion with the Americas.

The department said the decline was partly caused by the direct impacts of the global economic downturn in the first half of 2023 and the slow and uneven economic recovery in the second half. 

HCM City to host International Processing, Packaging Exhibition

The 17th International Processing, Packaging Exhibition will take place from April 3 to 5 at the Saigon Exhibition and Convention Centre in HCM City.

ProPak Vietnam 2024 will bring together more than 450 exhibitors from more than 30 countries and territories, who will showcase new packaging materials, technologies and innovative technical ideas in the processing and packaging industries.

For the first time a new exhibition area dedicated to beverage industry technologies, DrinkTech, will be part of ProPak, showcasing new technologies, equipment and solutions.

The three-day event will also feature a number of international conferences, seminars and technical sessions co-organised by Informa Markets, Active & Intelligent Packaging Industry Association, the Vietnam Beer – Alcohol – Beverage Association, the Vietnam Plastics Association, and the Vietnam Food Science and Technology Association.

Speaking at a press meeting in HCM City on Thursday, Jeffrey Au, head of international sales, Asia, at Informa Markets, said: “Plastic packaging consumption will continue to grow despite anti-plastic sentiments and increasingly stringent waste management regulations.

“The primary focus for the industry should be on delivering packaging designed for easy recycling and developing recycling systems that can help reintegrate plastic within a circular economy.

“This is also our mission when bringing to Việt Nam over 450 exhibitors, especially in DrinkTech, a dedicated zone for drink technologies that promise to thrive in Việt Nam.”

The event promises valuable opportunities for the processing and packaging industries and support businesses to grow and gain a long-term competitive advantage, he added.

The expo is expected to attract more than 11,000 trade visitors. 

Vietnam Airlines affirms its continuous expansion in a volatile world: IAS 2024

More than 60 aviation businesses, policymakers and government representatives gathered in Hà Nội for a two-day conference from February 28-29 to discuss various issues related to business management and development in the aviation industry.

The International Airline Symposium (IAS) 2024 also served as a platform for fostering collaboration between aviation businesses, policymakers and government representatives to shape the future of the industry.

The conference acknowledged the opportunities and challenges faced by the aviation industry in a volatile global environment. Airlines must navigate volatility, uncertainty, complexity and ambiguity in various aspects such as economics, politics, technology and climate change. Delegates at the conference were tasked with reaching a consensus on how to steer the industry as a whole and achieve new heights.

During his speech at the conference, General Director of Vietnam Airlines Lê Hồng Hà emphasised the importance of proactively navigating the complex industry landscape. Hà highlighted strategic vision, customer experience, technology adoption, sustainable development, safety and employee engagement as crucial factors for long-term success and sustainable growth in the dynamic aviation market.

Also at the conference, Nawal Taneja, professor of aviation at Massachusetts Institute of Technology and Ohio State University (USA), shared his observations about the aviation industry undergoing rapid changes driven by technology. Technology has indeed played a significant role in enabling greater flexibility, adaptability and resilience for businesses in the aviation sector. The industry has seen advancements in areas such as aircraft design and manufacturing, operations and maintenance, passenger experience and data analytics.

However, Taneja also pointed out that successful digital transformation requires more than just adopting new technologies. It necessitates changes in organisational structure, personnel and culture to effectively leverage technology and achieve higher productivity. This is an important but often overlooked aspect, as organisations need to align their internal processes, workforce skills and mindset with the transformative potential of technology.

Meanwhile, Glenn Morgan, former CTO of British Airways/International Airlines Group, highlighted a key challenge faced by the aviation industry in achieving carbon neutrality: the limited availability and usage of sustainable aviation fuel (SAF). While many airlines have set goals to reduce carbon emissions and transition to clean energy, the widespread adoption of SAF remains low, with only 0.1 per cent of global flights currently using this fuel.

To address this challenge, it is crucial to have the support and active participation of various stakeholders. The government plays a vital role in creating policy frameworks and providing incentives to promote the development and use of SAF. Governments can offer financial support, tax incentives and regulatory measures to encourage the production and distribution of sustainable aviation fuels.

As the host airline of the event, Vietnam Airlines actively facilitated the participation of leading industry experts from around the world. The conference provided a platform for exchanging the latest industry information, enabling the development of strategies and affirming Vietnam Airlines' commitment to continuous expansion in the evolving global aviation landscape. Additionally, the event showcased Việt Nam as a safe, dynamic and friendly destination to a large number of delegates and international guests. 

$9.7 million to be invested in Đắk Lắk power grid projects

The Đắk Lắk Power Company is undertaking a number of construction and other works to ensure electricity supply during the dry season even as demand is forecast to increase.

The Việt Nam Electricity Central Power Corporation (EVNCPC) is set to allocate nearly VNĐ240 billion (US$9.7 million) to the company for 37 projects.

They include the installation of 140km of medium-voltage and 320km of low-voltage lines, and construction of nearly 200 electrical substations with a total capacity of 35,000kVA.

However, the province has not yet approved land-use plans for 2024, and EVNCPC has called on the People's Committee to do it soon.

It also sought assistance with land clearance, relocating power facilities when roads are widened and speeding up approval of power grid projects.

According to EVNCPC, all places in Đắk Lắk Province are connected to the national grid, and customer services are steadily being modernised.

At a recent meeting with EVNCPC officials, the leaders of Đắk Lắk Province acknowledged the contributions made by the electricity sector to socio-economic development.

They promised to instruct relevant agencies to help speed up work on power projects. 

HCM City announces key tasks for digital transformation

HCM City has announced details concerning orientations to its digital transformation this year, with a roadmap comprising nine key tasks.

Võ Minh Thành, deputy director of the city’s Department of Information and Communications, said successful digital transformation will serve as a fundamental solution to successfully implement the tasks mentioned in the Resolution of the 11th Congress of the municipal Party Committee for the term of 2020-25

The key tasks include perfecting information technology infrastructure; launching an integrated information system for administrative procedures; and encouraging citizens and businesses to use a mobile app for centralised communication with local authorities.

Providing a unified management platform and exploiting the city’s common-use shared Geographic Information System (GIS) platform; operating the city's execution governance platform; operating a shared digital platform; digitising sector-specific data; and training members of the community digital technology team are also included.

The city has developed a plan to effectively implement the tasks on three main pillars, which are digital government, digital infrastructure, and digital economy and society.

It is implementing solutions and policies to support small and medium-sized enterprises, household businesses and residents on digital transformation process through training and consulting activities, and use digital platforms at reasonable prices.

It also gives priority to effectively operate Quang Trung Software Park in District 12, and establish additional concentrated information technology parks.

This initiative aims to facilitate regional connectivity in fostering the development of the IT industry.

The city is one of the five leading localities in the country for digital transformation, with most administrative procedures available for use online.

Digital transformation is being carried out in various aspects of the city to better serve the public.

The city has set various targets for its digital transformation by 2030.

Operations of the digital government apparatus in the city are transforming to boost the growth of a digital society and economy.

It strives to become a healthcare centre of Việt Nam and the ASEAN region with a medical ecosystem of 6,000 modern clinics and hospitals that provide medical care, and implement AI in disease diagnosis and treatment.

It is developing a booming digital economy with an expected contribution of 25 per cent and 40 per cent to the city's GRDP in 2025 and 2030, respectively, to maintain the leading position economically in the nation. 

Vietnam to join conference on global agricultural supply chain connection

Vietnamese businesses operating in agriculture will attend the Agricultural Supply Chain Asia conference (ASCA) co-hosted by the US Grains Council, the US Wheat Associates, and the US Soybean Export Council from March 18 – 20, according to the Vietnam Business Council for Sustainable Development (VBCSD) under the Vietnam Chamber of Commerce and Industry (VCCI).  

The conference will be held in both in-person and online formats, expecting to attract crowds of representatives from agricultural businesses from many countries and territories.

For more than a decade, this conference has served as an important business-to-business platform and an prominent highlight in the Crop Calendars for Southeast Asia.

Delegates will focus their discussion on issues related to the integration of sustainability and innovation for future agriculture development. They will join sessions to provide the latest market updates and information on the agricultural sector.

They will not only analyse current challenges but also jointly envision and propose a future direction for the agriculture and food sectors in Southeast Asia.

The conference is hoped to provide an opportunity for Vietnamese businesses to approach and learn about this cooperation journey and connections, thus getting more business opportunities in the future.

Organisers said that ASCA offers a venue for connecting and promoting trade discussions and business prospects for agricultural products from the US as well as many other countries.

The VCCI said participants should be agricultural importers and exporters; providers of transportation, logistics and other services on grain trade; businesses specialising in food, animal feed and agriculture; and purchasing and quality control specialists for government and private entities, grain and transportation analysts, and agribusiness consultants.

Fruit imports head increasingly to the home market

The appeal of imported fruit products has not cooled down, as more and more foreign exporters are trying to find ways to loosen market room.
 
Vietnam will be a key export market for fruit products originating from Japan, according to an event to promote imports organised by the Japan Fruit and Vegetables Export Promotion Council in collaboration with the Japan Food Product Overseas Promotion Centre in January.

Currently only apples, pears, and tangerines are officially imported from Japan to Vietnam. Japanese fruits are favoured by many Vietnamese consumers and chosen as gifts despite higher prices due to strict quality control.

Seiki Furudate, deputy consul general of Japan in Ho Chi Minh City, said, “In the ASEAN region, the income of Singaporeans is higher than that of Vietnamese people, but more Vietnamese buy Japanese fruit even though the price is quite high. Vietnam is a high potential market for Japanese fruit exporters because of its high population and great demand for safe and quality fruit products.”

In addition to pears that are out of season, apples and tangerines are two Japanese fruits currently widely sold in supermarkets and imported fruit stores in Vietnam. There are three main types of Japanese apples on the market, including fuji, kinsei yellow, and sekaiichi red.

Yuya Arashima, CEO of Star Kitchen, a Japanese fruit business at Takashimaya Trade Centre in Ho Chi Minh City, commented that Japanese fruits often have higher prices than others on the market. However, they possess perfect taste and appearance, so they are often chosen by Vietnamese consumers as gifts, especially during holidays.

“In addition to the three main fruits, we hope that grapes and strawberries will also be introduced into the Vietnamese market,” said Yuya Arashima.

Vietnam imported about $1.96 billion of fruit and vegetable products in 2023, according to data from the Vietnam Fruit and Vegetables Association. The main import markets include Australia with grapes, oranges, and cherries; New Zealand with apples, kiwis, and blueberries; North America with apples and grapes; and South Korea with pears, strawberries, and grapes.

According to the Australian Trade and Investment Commission, the total value of Australian horticultural exports to Vietnam grew 15.6 per cent to $127.4 million for the 12 months to July 2023, the end of the Australian financial year.

Vietnam is now Australia’s second-largest export market and accounted for 7 per cent of all Australian horticultural exports over this period. In comparison, the General Department of Vietnam Customs reported that horticulture exports to Australia in 2022 were worth more than $164.2 million, including fruits, vegetables, and cashew nuts.

Last December, Australia also began promoting exports of popular summer fruits including peaches and nectarines to Vietnam.

“Agricultural products and fresh fruits will continue to become a key trade promotion focus in the close diplomatic relationship between the two countries. Australia will be interested in developing fruit products here in the near future,” said trade and investment commissioner of the Australian Trade Promotion Agency in Vietnam, Chris Morley.

In the fiscal year 2022-2023, Australia’s total agricultural products exported to Vietnam hit $3.4 billion, an increase of 51.7 per cent on-year. As such, fruits and nuts accounted for 3.8 per cent of total agricultural exports to Vietnam.

Figures from New Zealand Trade and Enterprise (NZTE), food and beverages (F&B) account for 77 per cent of New Zealand’s total exports to Vietnam, with produce fruits and nuts forming 23.4 per cent of those F&B exports. New Zealand has consistently posted double-digit growth of the exports of apples and kiwi to Vietnam over the past few years.

“With consistent growth of New Zealand’s export of apples and kiwis to the Vietnamese market over the last few years. The potential for further growth of imported fruit consumption looks to continue, especially in the apple sector where considerable growth opportunities are present in Vietnam”, said Giang Nguyen, head of F&B Business Development of the NZTE.

Although it is believed to possess long-term growth potential, many foreign fruit importers and exporters assess that the market will decline slightly in 2024 due to reduced purchasing power caused by the economic recession.

Le Viet Si, CEO of imported fruit distribution business Tony Fruit, said it is forecast that imported fruit output will decrease by nearly 10 per cent compared to last year.

“Importers currently do not dare to commit to output with foreign exporters. Except for Japanese fruits, most imported fruits this year have lower prices than previous years,” Si said.

According to Le Huu Tinh, who is the senior marketing manager of Thiso Retail, the owner of the South Korean joint venture supermarket chain Emart, although some products such as gala apples are in good season due to increased shipping costs, the selling price also increases.

“Instead of bringing American apples and green grapes to Vietnam by sea, which will be delayed, affecting product quality and business seasons, importers choose air freight. Therefore, there will be less diversity, some items will have high prices,” Tinh informed.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes