Economy

Many offers to sell coastal hotels in Da Nang have appeared on real estate forums these days. Most of them are located in districts Son Tra and Ngu Hanh Son. A hotel put up on sale On just one real estate website on February 22 many ads were listed. A 4-star hotel on Vo Nguyen Giap street, 600 square meters, with 19 stories, 125 rooms and 2 conference rooms is offered at VND440 billion. Hotels on the major streets of Ha Bong, Tran Bach Dang, Ho Nghinh, Vo Nguyen Giap and Ho Xuan Huong are offered at tens or hundreds of billions of dong. Hoang Lam, the owner of a hotel on Tran Bach Dang street, said accommodation service providers have been hit hard by Covid-19. “We have been struggling to survive by cutting costs. However, as capital is getting exhausted, hotel owners have to liquidate assets to pay bank debts,” he said. “Selling hotels is unavoidable as there is no source of revenue, and the operation cost is high,” he said. Do Van Hien from Dana Hotel, a broker, … [Read more...] about Unable to cover expenses during Covid-19, owners sell hotels at cheap prices

Under the auspices of the Vietnamese Ministry of Science & Technology and support from the Aus4Innovation Program, AAC 2021 is a brand-new national competition calling for all innovators to share their bright ideas for rolling out artificial intelligence-driven innovation into new areas of industry, fields of science, and the day-to-day lives. AI startup has undoubtedly been gaining a lot of attention in recent years in Vietnam, but they often lack the support or visibility they need to grow. AAC 2021 provides an exciting opportunity for innovators to receive seed funding and incubation training to help them maximise their chances of success. The programme is designed to open to any individual and team who want to contribute to the economic and social development of Vietnam by using AI technology. During the first phase, applications will be screened online based on the answers on the application form and selected for the next round. The 15 selected starts-up will enter an … [Read more...] about Registration for AI Accelerator Challenge 2021 opens

Shopping on Shopee e-commerce platform. — Photo congthuong.vn HÀ NỘI — The Vietnamese e-commerce market is forecast to continue to boom in 2021, with revenue surpassing last year's figure. A report by the Việt Nam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade showed that with 53 per cent of the population participating in online shopping, the e-commerce market in Việt Nam grew 18 per cent, reaching $11.8 billion last year, accounting for 5.5 per cent of total retail sales of consumer goods and services nationwide. Nguyễn Thế Quang, the agency’s deputy director, said e-commerce had had an impressive year of growth and would continue to explode this year and beyond. According to the national master plan on e-commerce development in 2021-2025, by 2025, up to 55 per cent of the population will participate in online shopping, with the average value of online purchases of goods and services reaching US$600 per person annually. … [Read more...] about E-commerce to continue booming in 2021

Việt Nam continues successful economic story. — VNA/VNS Photo BERLIN — Credendo Group’s offices in Germany and Austria have published a study to evaluate the level of risk in Việt Nam, which emphasises that the Southeast Asian country is continuing its successful economic story after its good performance in controlling the COVID-19 pandemic. The article quotes the latest country study of Credendo, saying that Việt Nam has been one of the few highly resilient countries during the unprecedented COVID-19 shock. The swift, strict and very effective containment of the virus after the outbreak in neighbouring China largely explains this, it says, noting that an early travel ban, testing and wide-scale contact tracing on top of the containment measures have helped keep the virus under control. While most countries were severely hit and hindered by the economic impact of the virus, Việt Nam’s economy continued to operate at a good albeit slower pace despite an initial high … [Read more...] about Credendo: Việt Nam continues successful economic story beyond a contained pandemic

A view of Bắc Giang City. — Photo baodautu.vn BẮC GIANG — The northern province of Bắc Giang is improving a master plan on the development of industrial parks (IPs) and complexes, as well as land use planning, according to it its provincial Party Committee. The province is also refining a master plan on urban areas for the 2021-30 period to attract investment. It built a project on supporting start-ups in the locality, towards strongly developing the private economy, and issued a list of projects in need of investment in the fields of agriculture and rural development. The locality considered building mechanisms to support investment in hotel construction projects and high-end services. In particular, Bắc Giang will step up administrative reform, improve the provincial competitiveness index, pool resources to build key socio-economic infrastructure while enhancing the quality of human resources and State management on projects. The province will actively assist … [Read more...] about Bắc Giang improves master plan on IPs development