The government is creating strategy to promote the rise of startups, as well as more research and development, Photo: Le Toan Several astounding figures were presented at ABB’s Technology Day 2019 last week in Hanoi. The event, highlighting Vietnam’s digital transformation towards accelerating a sustainable future, was attended by 200 delegates including business leaders and policymakers. Among the headlines, it was revealed that the Fourth Industrial Revolution could increase Vietnam’s GDP by between $28.5 billion and $62 billion in a decade, depending on the level of technological application in businesses. This increase is equivalent to a rise of 7-16 per cent of GDP by 2030. Pham Hoang Mai, general director of the Department of Science, Education, Natural Resources and Environment under the Ministry of Planning and Investment (MPI), said at the event, “Industry 4.0 presents Vietnam with a once-in-a-generation opportunity to make the step up to the next … [Read more...] about Vietnam’s new role via Industry 4.0
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No tension for Vietnam football fans over AFF Suzuki Cup broadcast
By Nguyen Quy  September 8, 2018 | 02:50 pm GMT+7 Fans in Saigon cheer Vietnamese men's football team during a match at Asian Games on August 29. Photo by VnExpress/Huu Khoa After missing out on Asiad 2018, VTV has secured broadcasting rights to the premier football tournament in Southeast Asia. In welcome news for millions of football lovers, the Vietnam Football Federation has announced that Vietnam Television (VTV) has successfully clinched a deal with Lagardere Sports, the official sponsor of the 2018 AFF Suzuki Cup, to broadcast the tournament’s matches in the country. The value of the deal has not been revealed thus far. Football fans in Vietnam can now sit in front of their TV sets and watch all 28 football matches, including two matches in the preliminary round on September 1 and 8, and 26 remaining matches scheduled to take place from November 8 to December 15. Vietnam is in Group A along with Malaysia, Myanmar, Cambodia and Laos. The Vietnamese … [Read more...] about No tension for Vietnam football fans over AFF Suzuki Cup broadcast
Vietnamese expats stabilise lives after fire in Cambodia
A fire burnt 57 houses of Vietnamese expats to ground. (Photo: VNA) Phnom Penh (VNA) – The support from Vietnamese and Cambodian authorities, and international organisations have helped Vietnamese expatriates in Phnom Penh, Cambodia, overcome difficulties after a fire burnt their houses to the ground last month. Attending a ceremony jointly held by the Vietnamese Embassy in Cambodia and Khmer-Vietnamese Association on August 4 to review relief activities for fire victims, Vietnamese Ambassador to Cambodia Vu Quang Minh expressed his gratitude towards Cambodian leaders and authorities for giving timely assistance to the Vietnamese expatriates. This was a successful relief campaign, he said, adding that it set a record in terms of speed, donated money and items, and the number of sponsors. Also, he took the occasion to thank Vietnam’s resident reporters in Cambodia for spreading updated news about the incident. At the event, the organising board handed over … [Read more...] about Vietnamese expats stabilise lives after fire in Cambodia
Floods hit Mekong Delta farmers after Laos dam bursts
The rushing waters from the partially constructed hydropower dam in Attapeu Province have so far killed 27 and left 131 missing besides stranding more than 3,000 people. In An Giang Province’s Vinh Hoi Dong Commune, farmer Nguyen Van Dieu looked at his inundated 4,000-square-meter field and said: "It seems like we have lost everything since the water level is continuing to rise rapidly.” Dieu and his wife tried everything they could to keep out the waters but in vain. He is just one of thousands of affected farmers in An Giang. In Dong Thap Province, people living around the Tien River said flooding season came early this year and did not leave much room and time for them to fully prepare. Le Thi Muoi, 42, a local, said farmers did not have time to harvest their crops. “No one would buy our damaged cassava,” she said. In Long An Province, farmers in Thanh Hung Commune are trying to cover up the paddy field and save more than 1,000 hectares of rice. Farmers … [Read more...] about Floods hit Mekong Delta farmers after Laos dam bursts
Francophone students attend summer school in Vietnam
As many as 70 Francophone students from Vietnam, Laos, Cambodia, China, Thailand, and the Republic of Korea are joining a summer school programme held in Hanoi from July 30 to August 4 (Illustrative photo: VNA) Hanoi (VNA) – As many as 70 Francophone students from Vietnam, Laos, Cambodia, China, Thailand, and the Republic of Korea are joining a summer school programme held in Hanoi from July 30 to August 4. The event is organised by the Hanoi University with the support of the Agence Universitaire de la Francophonie’s (Francophone University Association, AUF) Asia-Pacific branch. It aims to help Francophone students in regional universities improve their language skills and explore the city’s culture. The students will participate in various cultural exchange programmes, discussing the social and cultural aspects of Hanoi. They will also visit traditional craft villages and learn how to make their products. The week-long event also includes seminars on … [Read more...] about Francophone students attend summer school in Vietnam
Industry 4.0 made a top level priority
The Industry 4.0 Summit 2018 has seen words of wisdom for Vietnam to flourish in the new digital age, Source: Government Office Nearly 2,000 delegates, including government leaders, representatives of international organisations and about 50 leading domestic and international firms attended the Industry 4.0 Summit 2018 held late last week in Hanoi. They discussed the role of policymakers in formulating a proactive approach to Industry 4.0 and international co-operation, as well as proposed solutions to optimise breakthrough technologies in all socio-economic fields. The event included an exposition, gathering 50 booths from leading corporations including Ericsson, ABB, CMC Telecoms, Viettel, and FPT, in such sectors as manufacturing, agriculture, energy, telecommunications, healthcare, transportation, banking and finance, and e-commerce. While planning to venture further into the local market to cash in on its huge potential in the digital age, they are waiting for concrete … [Read more...] about Industry 4.0 made a top level priority
Vietnamese PM meets Lao counterpart in Cambodia
Prime Minister Nguyen Xuan Phuc (L) and Lao counterpart Thongloun Sisoulith (Source: VNA) Siam Reap (VNA) – Prime Minister Nguyen Xuan Phuc met bilaterally with his Lao counterpart Thongloun Sisoulith on April 4 on the sidelines of the third Mekong River Commission (MRC) Summit in Siam Reap, Cambodia. PM Phuc thanked PM Thongloun Sisoulith and Lao delegation for contributing to the success of the sixth Greater Mekong Sub-region Summit (GMS 6) and the tenth Cambodia – Laos – Vietnam Development Triangle Summit (CLV 10) held in Hanoi last week. He suggested that in accordance with the high-level agreement between the two Politburos, the two countries will work closely together at all levels, at bilateral and multilateral mechanisms to promote the effective and sustainable use and management of Mekong River water resources, harmoniously ensuring interests of nations along the river for the sustainable development of the two countries and the … [Read more...] about Vietnamese PM meets Lao counterpart in Cambodia
BUSINESS IN BRIEF 4/4
Hapro and Protrade Corp. report successful IPOs Both state-owned Hanoi Trade Corporation (Hapro) and Binh Duong Producing and Trading Goods Corporation (Protrade Corp.), the owners of several golden land plots and industrial parks, conducted successful IPOs. On March 28, Protrade, the third largest state-owned firm in the southern province of Binh Duong, offered 30 million shares for sale, equalling 10 per cent of its stakes, at its IPO with the initial price of VND12,000 ($0.53). As a result, 63 investors joined the auction, four of whom won with the highest bid of VND21,000 and the lowest bid of VND16,600. The average selling price was VND17,474, which was 46 per cent higher than the initial price. After the IPO, the state’s holding in Protrade decreased to 50 per cent, equalling 150 million shares. Besides, Protrade Corp. will put 119.7 million shares, equalling 39.91 per cent of the stakes, on sale to strategic investors. Previously, Protrade Corp. also published the … [Read more...] about BUSINESS IN BRIEF 4/4
Thai Products’ Week underway in Hai Phong
As part of a series of trade and investment promotion events in Cambodia, Laos, Myanmar and Vietnam (CLMV) and ASEAN member states, the week is being organized by the Thai Ministry of Commerce’s Department of International Trade Promotion, the Thai embassy in Hanoi’s Office of Commercial Affairs and the Vietnam National Trade Fair & Advertising Company. Photo for illustration About 70 booths are showcasing food, beverages, fruit, household appliances, apparel, jewellery, electronics, health and beauty products, decorations and souvenirs from Thailand. The event will also feature cooking demonstrations and music performances. The event has been held annually in Hai Phong since 2012. Thailand is among top 10 largest foreign investors in Vietnam, pouring over USD 8.4 billion into nearly 500 projects mostly in northern and southern Vietnam. At present, Thailand’s investment in Vietnam mainly focuses on manufacturing and processing (USD 7.14 billion … [Read more...] about Thai Products’ Week underway in Hai Phong
BUSINESS IN BRIEF 1/2
PNJ targets opening at least 40 stores this yearPhu Nhuan Jewelry (PNJ) plans to open at least 40 new stores this year and have 300 by the end of April. The 40 new stores include gold stores or stores combining gold and silver retail.It has also set a net revenue target of VND14.1 trillion ($619.6 million) for the parent company this year, up 30 per cent, with after-tax profit increasing 22 per cent to VND882 billion ($38.7 million).PNJ is in the process of preparing for upgrading and modernizing its ERP system, through which it can study customer behavior at outlets and better understand customer choice.The company also plans to use big data to develop new products aimed at more specific customer groups and at the same time use digital marketing strategies to expand market share.As noted by HSC, PNJ’s sales in FY2017 increased 28 per cent year-on-year to VND10.97 trillion ($482.1 million) thanks to most segments growing strongly. Gold bar revenue increased 20 per cent, to … [Read more...] about BUSINESS IN BRIEF 1/2