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Digiworld aims to grow 25 per cent on average annually in the next decade Two months ago, Digiworld’s executive told securities firms that a partner producing and assembling Xiaomi tech products is opening a plant in Vietnam’s northern port city Haiphong, and that the plant would commence operation in the second half of this year. Albeit the information was not yet confirmed by Digiworld’s leadership at the company’s recent annual general shareholders’ meeting on April 4, the company’s CEO Doan Hong Viet was quoted as saying, “This is informal information; Xiaomi and Digiworld will be making an official announcement on a suitable timing in the future.” In fact, Digiworld is the exclusive distributor of all Xiaomi products in the Vietnamese market. According to Viet, home appliances would be one of hte key segments of Digiworld by 2024 with the target of holding a "remarkable market share", in which TV sets would secure the largest share in value. The home appliances market, … [Read more...] about Digiworld aims to reach billion-dollar market cap target

Semiconductor crisis forces top-level action. Source: freepik.com The world’s semiconductor industry sales hit $40 billion for the month of January – a rise of 13.2 per cent on-year, revealed the Semiconductor Industry Association. Now, consumers are having to deal with price hikes and a lack of products from automobiles and videogames to TVs and smartphones as a global shortage in semiconductors grows. The shortage in chips, the so-called “brain” within every electronic device, has been slowly getting worse since last year, according to The Guardian. Temporary delays in supplies as factories shut down due to the coronavirus pandemic caused initial issues. However, although production is somewhat back to normal, surges in the demand driven by new habits stemming from the pandemic is causing the situation to worsen. Mainly, a boom in sales of TVs and computers, the launch of brand new videogame consoles, and arrival of 5G-enabled mobile phones have all driven the demand. … [Read more...] about Semiconductor crisis forces top-level action

Vingroup’s billionaire Pham Nhat Vuong is taking an unexpected step entering the world's largest electric car market. Vingroup’s billionaire Pham Nhat Vuong Bloomberg has cited a source as saying that Vingroup Group (VIC) of billionaire Pham Nhat Vuong is considering an initial public offering (IPO) in the US for its VinFast auto company, which is expected to mobilize about $2-3 billion. VinFast expects a valuation of at least $50 billion or even up to $70-75 billion. With this valuation, the capitalization of VinFast will surpass the famous car maker Ferrari (capitalization at $52 billion), Honda ($51 billion), Ford ($49 billion), Kia ($30 billion) ... and only behind some famous brands such as Tesla, Toyota, Volkswagen, Mercedes Benz, GM, BMW and others. This is an unexpected move, but it is in line with his aim of conquering the top market in the world. The information was released when Vuong’s VinFast company began receiving the first orders for electric … [Read more...] about Billionaire Pham Nhat Vuong plans billion-dollar IPO in the US

Da Nang allows foreigners to buy houses in 17 projects The Construction Department of central Da Nang city has listed 17 commercial housing projects in which foreign organisations and individuals can buy units. The projects include Blooming Tower, Golden Square complex, Quang Nguyen Apartment complex, Thuy Tu urban area, Harmony Tower, and Da Nang FPT Technological Urban Area. The city also disallows foreigners from owning property in three projects, namely F-Home Apartment complex, Da Nang Diamond Tower, and IndoChina Riverside Tower. The department suggested the Department of Natural Resources and Environment and relevant agencies review the grant of licences to foreign organisations and individuals in projects that are off-limits to foreign buyers./. Coffee exports fall by over 11 percent in Q1 Coffee exports earned 771 million USD for Vietnam in the first quarter of 2021 In March alone, 145,000 tonnes of coffee were shipped abroad, bringing home 275 … [Read more...] about VIETNAM BUSINESS NEWS APRIL 14

Vice Chairman of the National Traffic Safety Committee Khuất Việt Hùng Vice Chairman of the National Traffic Safety Committee Khuất Việt Hùng talks to Vietnam News Agency about proposals to the Government to promote green and environmentally friendly traffic in Việt Nam. Electric cars are a current trend around the world. What do you think? It is an irreversible trend. Electric cars are a choice for the present and the future. And we can feel it by the way the market responds positively to VinFast's electric scooter products (when the company put the product on sale, there were 4,000 orders after 12 hours). It is not only the credibility of the market with a car manufacturer, but also because people are really looking forward to and excited about electric cars. In the world as well as in Việt Nam, environmental issues are becoming more urgent. Encouraging people to switch to low-emission vehicles such as electric cars, electric motorcycles, electric buses and trains … [Read more...] about Supporting policies to develop electric cars needed: official