Vietnam has experienced more than two decades of connecting to the Internet and joined the race of digital transformation around the globe. Connected to the Internet in 1997, Vietnam has demonstrated a fast change in socio-economic development to rank itself among the 20 countries with the largest numbers of Internet users in the world. Vietnam has witnessed a steep rise in Internet, smartphone, and social media adoption in the last decade. As one of the fastest growing economies in the region, the country is intent on maximizing the opportunities presented by the Fourth Industrial Revolution, with e-government initiatives located at the heart of the public sector reform. On way to digitalization, through interactive discussions, stakeholders from government, academia, business and civil society have provided different perspectives on the development, shared insights on relevant privacy issues in Vietnam, and proposed regulatory and non-regulatory solutions to the growth, … [Read more...] about How digitalization transforms Vietnam?
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Minister meets innovators in Germany Minister of Planning and Investment Nguyen Chi Dung (second from the right) meets German executives. Minister of Planning and Investment Nguyen Chi Dung is learning about scientific research, technological innovation and personnel training in leading German corporations during his ongoing Germany visit at the invitation of German Federal Minister for Economic Affairs and Energy Peter Altmaier. The Vietnamese delegation has visited a Siemens gas turbine factory, the SAP software company and the Fraunhofer Institute for Applied Optics and Precision Engineering. Minister Dung expressed his wish that Siemens, SAP and Fraunhofer would invest more in Viet Nam by building solar panels and wind turbine plants to meet energy demand in the country and ASEAN, building new research and lab centres in Hoa Lac Hi-tech park. Leaders of Siemens, SAP and Fraunhofer expressed their interest in the Vietnamese market, saying they have … [Read more...] about BUSINESS NEWS IN BRIEF 22/3
The business community looks to 2019 with great expectations Photo: Le Toan Ousmane Dione Country director, World Bank Under the leadership of the Vietnamese government, Vietnam’s socioeconomic achievements have been remarkable. Over the course of 30 years, the economy has expanded at an average of nearly 7 per cent annually. As a result, per capita income has increased almost five-fold. Vietnam today has emerged as a thriving lower middle-income economy and an export powerhouse. Growth has also been inclusive, with poverty falling to just below 7 per cent, compared to more than 60 per cent in the late 1980s. But Vietnam’s journey to become a modern, industrial economy has only just begun, and past achievements are no guarantee for future success. Domestically, Vietnam will have to tackle rising structural headwinds, including a rapidly-aging population, slow productivity growth and weak investment, as well as an increasing environmental toll on development. Leaning … [Read more...] about Business bigwigs on 2019 prospects
Vietnam’s rice exports hit 5.2 million tonnes in ten months Vietnam shipped abroad 264,000 tonnes of rice in October this year for 136 million USD, pushing the total figures so far this year to 5.2 million tonnes worth 2.6 billion USD, up 1.7 and 14.1 percent year-on-year. China remained the leading importer of Vietnamese rice with a growth rate of 24 percent. Strong rises were also seen in many other markets, such as Indonesia, Iraq, the Philippines, and Malaysia. Average rice prices in the first nine months of 2018 reached 503 USD per tonne, up 13.7 percent year-on-year. The highest price was recorded for Jasmine rice with 575 USD per tonne, followed by Japonica with 526 USD per tonne. The export of medium- and high-quality rice increased, while that of low quality types reduced, now accounting for just 2 percent of the total export volume. [Video: Vietnamese rice now top quality on the international market] On October 18 this year, the Philippines closed its bidding and … [Read more...] about BUSINESS NEWS IN BRIEF 11/11
Can Tho invites investors to investment promotion conferenceThe Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD). At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh Thong said investors have already expressed interest in 44 out of the 54 projects on offer, and some are ready to start work immediately on 22 projects. He added that some projects attracted two or more investors, so the city will set criteria to select the best among them. Among the 54 projects, 21 are in real estate, 9 in culture-sports and tourism, 9 in agricultural and industrial infrastructure, 8 in transport, 4 in logistics and power, 2 in cultural-sport and health care infrastructure and 1 in information technology. Prime Minister Nguyen Xuan Phuc is expected to deliver a keynote speech and chair the conference, … [Read more...] about BUSINESS NEWS IN BRIEF 2/8
(VEN) - The industry and trade sector has improved its readiness for the Fourth Industrial Revolution that has had increasingly widespread impacts on all sectors and fields. Opportunities and challenges As part of these efforts, the Ministry of Industry and Trade (MoIT) has coordinated with international organizations and agencies, such as the Japanese Ministry of Economy, Trade and Industry, the German Embassy in Vietnam, the German Chamber of Commerce and Industry in Vietnam, UNDP Vietnam, the UPS Group (USA), and the Siemens Group (Germany), to organize workshops on Industry 4.0. These aim to improve public awareness and knowledge of opportunities and challenges created by this revolution. Industry 4.0 has also been added to the curricula of training organizations under the MoIT. Businesses have been provided with information and consultancy on technology application in production. The MoIT is coordinating with the United Nations Development Program (UNDP) to survey business … [Read more...] about Vietnam moves toward smart manufacturing
Vietnam eager to develop Lien Chieu deep seaport The government has been urging the authorities to appraise Lien Chieu Seaport, showing strong support and promising smoother sailing for the project. Deputy Prime Minister Trinh Dinh Dung recently urged the Ministry of Planning and Investment (MPI) to appraise the capital sources and mobilisation methods of investment capital at Lien Chieu port. Besides, the DPM assigned the Danang People’s Committee to complete the pre-feasibility report for the project after the city studied MPI’ appraisal. Based on reports of MPI and Danang city, the Ministry of Transport (MoT) was asked to build the investment planning evaluation report to submit the prime minister for approval. The assignment of the DPM shows Vietnam’s eagerness to develop the Lien Chieu Seaport project, which is considered one of two key projects that aim to boost the central city as a main logistics centre in the ASEAN and the East-West Economic Corridor (EWEC) … [Read more...] about BUSINESS IN BRIEF 5/6