VietNamNet Bridge - Vietnam targets building at least three smart cities in 2017-2020. But to reach that goal, it needs to have better infrastructure, more money and a more qualified workforce. Vietnam targets buildings at least three smart cities in 2017-2020 According to the Ministry of Information and Communication (MIC), the biggest problem is that technical infrastructure cannot catch up with rapid urban development, causing traffic jams, lack of running water, flooding and pollution. The biggest problem is that technical infrastructure cannot catch up with rapid urban development, causing traffic jams, lack of running water, flooding and pollution. In Vietnam, a smart city is generally understood only as "the use of IT at a high level to improve the quality of people’s life". Sharing economy RELATED NEWS Vietnam to have more smart cities: Experts Developing smart cities must firstly base on smart planning Kim Chi … [Read more...] about Vietnam vows to build smart cities despite huge challenges
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Who rules Vietnam’s coffee market?
VietNamNet Bridge - The domestic coffee market in the past was controlled by big players Trung Nguyen, Nestcafe and Vinacafe. But now the competition is stiff, with the presence of many strong brands. Vietnam is a big coffee exporter In 2013, the market began heating up with the arrival of Starbucks and other coffee chains, including South Korea’s Coffee Bene, the US’s PJ’s Coffee and Vietnam’s The Coffee House, Trung Nguyen, Highlands, Phuc Long and Passio.‘Laymen’ also grow coffee Vietnam has over 150 coffee export companies and 3,000 coffee collectors, but only one-third of enterprises have coffee bean processing factories that make products for export. This is the first state-owned enterprise in Dak Lak to be equitized.The battle of the coffee chains RELATED NEWS Vietnam’s coffee industry relies on merchants Firms aim for higher profits by selling processed coffee Chi Mai … [Read more...] about Who rules Vietnam’s coffee market?
Vietnam instant noodle market controlled by three big brands
VietNamNet Bridge - Fifty instant noodle manufacturers exist in Vietnam, but the market is controlled by three big players, namely Acecook, Asia and Masan. Consumers buy instant noodle more than one time each month A survey by Kantar Worldpanel showed that instant noodles are one of the most regularly bought fast-moving consumer goods, about 18 times a year on average. In urban areas, foreign brands are holding market share of 60 percent. Acecook alone holds 50 percent of market share. The market has grown by 8 percent in value and 3 percent in quantity in urban areas, higher growth rates than 2016. However, the rural market saw decreases in both value and quantity. RELATED NEWS Vietnam consumes 4.9 billion instant noodle packets a year Vietnam's instant noodle surges Thanh Lich … [Read more...] about Vietnam instant noodle market controlled by three big brands
Vietnam’s textile & garment industry expect big benefits from EVFTA
VietNamNet Bridge - Once the EU-Vietnam FTA (EVFTA) is signed and the tariff is cut to zero percent, textile and garment exports to the market may obtain 7-8 percent growth rate per annum, experts say. Vo Van Kien Nhan from Viet Tien Garment JSC said he is looking forward to the signing of EVFTA and puts high hopes on the agreement, though he anticipates serious competition from foreign brands such as Zara and H&M. The belief in the high export growth rate from the EU is consolidated by optimistic forecasts about the EU economy. The International Monetary Fund (IMF) predicts a 2.2 percent GDP growth rate for the EU this year. Rong Viet Securities, in its latest report, also affirmed that in the context of the world’s stable economic growth, especially in the EU, the shock to Vietnamese enterprises caused by the sharp fall orders in 2016 will not occur again. RELATED NEWS Vietnam, EU move to finalise EVFTA ratification EVFTA to be ratified in 2018 … [Read more...] about Vietnam’s textile & garment industry expect big benefits from EVFTA
Chinese furniture manufacturers relocate to Vietnam
VietNamNet Bridge - Chinese wooden furniture enterprises are considering setting up their production bases in Vietnam, raising worries among domestic manufacturers. Vietnam's woodwork exports may bring $8 billion in 2017 Chair of Tianjin Furniture Association Gao Xiu Zhi told the local press on the sidelines of an event on trade and investment promotion with Beijing, Tianjin and Hebei held in HCMC December 6 that the member companies of the association now want to relocate their production to Vietnam. Vietnam’s woodwork exports in 2017 may bring $7.8-8 billion, higher than the targeted $7.3-7.5 billion. The US, China, Japan, the EU and South Korea are the biggest export markets. A report shows that China exports $10 billion worth of woodworks to the US, much higher than Vietnam’s export turnover of $2 billion. RELATED NEWS Vietnam wooden furniture products now target high-end market Wooden furniture manufacturers see great opportunities in 2017 … [Read more...] about Chinese furniture manufacturers relocate to Vietnam
The weaknesses of Vietnam agriculture
VietNamNet Bridge - Startups in the agriculture sector are focusing on making products and ignoring projects on seed production. Vietnam has to import plant varieties Duong Hoa Xo, deputy director of the HCMC Agriculture Department, said though there are many institutes and schools in the city, no new seed variety has been created for many years. In the long term, the risk of losing export markets for Vietnam farm produce could occur because of technical barriers set by import countries. Product quality has decreased because of the degeneration of seeds. At a recent conference, a leader of MARD (the Ministry of Agriculture and rural development) said, in the long term, the risk of losing export markets for Vietnam farm produce could occur because of technical barriers set by import countries. Product quality has decreased because of the degeneration of seeds. RELATED NEWS Vietnam masters rice-seed production technology Agricultural seed market worth billions of … [Read more...] about The weaknesses of Vietnam agriculture
Vietnam reaps fruits of 30 years of FDI
VietNamNet Bridge - Thirty years have elapsed since Vietnam ratified the Foreign Investment Law in 1987. Foreign investors committed to invest $312.9 billion by the end of 2017, of which $170 billion was disbursed. The chair of the Vietnam Association of Foreign Invested Enterprises Association (VAFIEs), Nguyen Mai, commented that foreign invested enterprises (FIEs) have made great contributions to Vietnam’s export turnover by exporting valuable processed and manufactured products. According to the Foreign Investment Agency, $3.34 billion worth of FDI was committed in the first two months of 2018, while disbursed capital was $1.7 billion, an increase of 9.7 percent over the same period of 2017. “The topic for daily discussions in the provinces with large foreign invested projects like Bac Ninh is not how to eliminate hunger and reduce poverty, but how to settle social problems arising during industrialization and migration,” Mai said.Hi-tech … [Read more...] about Vietnam reaps fruits of 30 years of FDI
Vietnam Airlines swaps old planes for new ones
Vietnam Airlines swaps old planes for new onesBy Mong Binh and Thanh Trung - The Saigon Times DailyNguyen Van Hung, deputy general director of Vietnam Airlines, said in a statement sent to the Daily that the hand-over marked important development in modernizing the aircraft fleet in general and the ATR 72 fleet in particular as outlined in a program that Vietnam Airlines initiated in June Hung said Vietnam Airlines would deliver back all the ATR 72-200s which have been put into service since 1992 to the plane maker within one year. These old turboprops will be replaced by the new ATR 72-500s that the airline has already ordered from the aircraft maker.“Vietnam Airlines will operate a fleet of all new generation ATR 72-500s by the end of 2010 in an effort to improve our efficiency and services. We are ready to put into use 14 ATR 72-500s to meet the air travel demand which is forecast to recover soon,” Hung said.Hung said that Vietnam Airlines would operate the new ATR … [Read more...] about Vietnam Airlines swaps old planes for new ones
US encourages Vietnam to buy more of its weapons, diversify from Russia: report
The U.S. State Department has expressed an interest in boosting its weapons trade with Vietnam two years after it lifted an embargo, saying it’s time Vietnam distances itself from “historical suppliers” like Russia. The U.S. is encouraging Vietnam to diversify from typical suppliers like the Russians and look “into buying U.S. equipment that would, one, give them more capability and, two, help strengthen our partnership for the interoperability and the greater interaction with our military,” a State Department official said, as cited by the Virginia-based magazine Defense News. Vietnam increased its military spending by almost 400 percent between 2005 and 2014, according to the U.S. Department of Commerce. But it has not considerably stepped up purchases of American-made weapons, even after the United States fully lifted its weapons ban in 2016, said Tina Kaidanow, the State Department’s principal deputy assistant secretary of state for … [Read more...] about US encourages Vietnam to buy more of its weapons, diversify from Russia: report
Vietnam culture ministry to probe bikini show on plane carrying U23 footballers home
Vietnamese Minister of Culture, Sports and Tourism Nguyen Ngoc Thien has requested an inspection of the bikini performance on a Vietjet plane carrying the national U23 football team back home after completing their campaign at the 2018 AFC U23 Championship in China. In his dispatch issued on Monday, Minister Thien asked ministerial inspectors to work with relevant authorities in investigating the incident and suggesting an appropriate penalty for the budget airline. A full report on the matter is expected to be submitted to the minister by January 31. Vietjet has been in hot water since Sunday, when clips began to circulate across social media platforms showing bikini-clad dancers strutting and performing suggestive moves on the airline’s Shanghai-Hanoi flight carrying the U23 players. The dancers even approached the players for photos, causing a moment of awkwardness as the young men were visibly uncomfortable with the unexpected intimacy. The footage drew a storm … [Read more...] about Vietnam culture ministry to probe bikini show on plane carrying U23 footballers home