In the 4th Industrial Revolution (Industry 4.0), agriculture is considered one among the most lucrative sectors with opportunities to make breakthroughs. As smart agriculture is an inevitable trend, domestic tech enterprises have actively researched and developed solutions to help Vietnam's agriculture sector to realise this goal. An agricultural crop cultivation model using smart solutions run by VNPT in Hanoi’s Hoa Lac Hi-Tech Park Complete solution for agricultural production Smart agriculture is the next development step of high-tech agriculture, in which information technology (IT) will not only be applied to several stages but also the entire production process, even the post-production stages, such as preliminary processing, packaging, preservation and distribution, especially in the context of increasingly complex climate change, making cultivation based on experience no longer accurate. Therefore, developing a Big Data source to provide information to farmers … [Read more...] about Industry 4.0 offers opportunities for agricultural breakthroughs
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BUSINESS NEWS IN BRIEF 19/2
M&A makes up majority of foreign capital inflows Some US$6 billion out of US$7.63 billion in foreign investment capital pledged to HCMC last year came from capital contributions, share acquisitions and purchases of stakes from domestic businesses. HCMC vice chairman Le Thanh Liem said at a conference in Binh Duong Province on February 14 that the pledged investment capital from foreign investors for HCMC last year picked up by 15.59% against the previous year. Of these, there were 1,060 new projects, with total registered capital of US$811.68 million, and 244 projects with additional capital of over US$835 million. Last year also saw 3,283 cases in which foreign investors received approval to contribute capital, buy shares and contribute capital to domestic firms, with registered capital totalling US$5.99 billion. With these results, HCMC received around 60% of foreign capital. According to Liem, the 2014 investment law has provided a favorable legal corridor for foreign investors … [Read more...] about BUSINESS NEWS IN BRIEF 19/2
BUSINESS NEWS IN BRIEF 19/1
Hanoi 3rd in JLL's City Momentum Index The Asia-Pacific is home to 19 of the top 20 cities on the sixth City Momentum Index published by JLL, highlighting the continuing shift of fast urban growth from the West to the East. Overall, Indian and Chinese cities dominate the rankings, accounting for three quarters of the top 20. Leading the pack are Bengaluru and Hyderabad in India, with Hanoi third. “Asia continues to show strong momentum, with cities that are successfully expanding their innovation economy punching above their weight in terms of attracting capital, companies, and people,” said Mr. Jeremy Kelly, Director of Global Research at JLL. “It’s clear that the tech sector is a key driver of both real estate and economic momentum - driven by large technology firms as well as dynamic startups in cities like Bengaluru, Hyderabad, Ho Chi Minh City and Shenzhen.” Although the global economic cycle is in its late stages, there are still many cities in the … [Read more...] about BUSINESS NEWS IN BRIEF 19/1
Fresh investment model drives FDI
Vietnam is searching for overseas partners with roots in hi-tech and innovation, Photo: Le Toan The Vietnam Business Forum (VBF) 2018 is set to open on December 4. Appearing at the event will be representatives from the government, ministries, as well as international organisations and business associations such as the chambers of commerce of Europe, the US, South Korea, and Japan. These representatives, along with others, have been the voice of hundreds of businesses across Vietnam. Themed "Sharing the Opportunities in Global Trade Movements", the VBF is expected to focus on financial resources for infrastructure development; improving knowledge to serve the modernised industry; and solving issues facing businesses, with an aim to create a favourable business climate to leverage more FDI in Vietnam, and to stimulate sustainable economic growth. Last week, RION Co., Ltd – a Japanese manufacturer of commercial products based on science and … [Read more...] about Fresh investment model drives FDI
BUSINESS NEWS IN BRIEF 8/8
VIB buys back all bad debt from VAMC Vietnam International Bank (VIB) announced last week that it has repurchased more than VND1.46 trillion (US$64.2 million) worth of debt from the Viet Nam Asset Management Company (VAMC). With this move, VIB was recognised by the State Bank of Viet Nam and VAMC as one of four banks which required all bad debts that they sold to VAMC. Three others are Vietcombank, Techcombank and MBBank. Earlier in July, VIB released its financial report in the first half of 2018 with a profit of over VND1.15 trillion ($51 million), triple that of the same period last year, or equivalent to 57 per cent of the yearly target. During the period, the banks’ net revenue reached VND2.7 trillion, up 56 per cent year-on-year, while its lending saw a yearly rise of 9 per cent to VND91.7 trillion. From January to July, VIB’s Capital Adequacy Ratio (CAR) was maintained at 12.5 per cent while the cost-income ratio (CIR) stood at 49 per cent, … [Read more...] about BUSINESS NEWS IN BRIEF 8/8
Social News 7/8
Legal framework for child care on the internet Vietnam, with 64 million Internet users (67% of its population), is among Asian countries having the biggest number of Internet users. A majority of these users are children and teenagers, who are exposed to both benefits and dangers. In addition to close attention from parents and schools, a legal framework is needed to protect children from the risks of the cyber world. While browsing the Internet, children may encounter unexpected information and people. Their personal information can be hacked. More seriously, children can become victims of swindles, exploitation, harassment, and sex abuse. Online game and smartphone addictions can harm children’s mental and physical health. Parents should teach children how to find and use information on the Internet. Dang Hoa Nam, Director of the Department for Children of the Ministry of Labor, Invalids, and Social Affairs, said, “Parents play a very important role. They should be … [Read more...] about Social News 7/8
BUSINESS IN BRIEF 26/6
HCM City to monitor pork prices The HCM City Department of Industry and Trade has promised to prevent any scarcity of pork or sudden price surges, saying the pork market would be steady. According to the department, the price of pig on the hoof reached VND48,000-51,000 per kilo last month, 40 per cent up year-on-year. Last year pig prices had plummeted, causing losses to most farmers, who reacted by reducing their breeding activities, and the resultant low supply pushed up prices, it said. To ensure adequate supply of essential goods, including meat, in the city, the department regularly inspects the market. According to Nguyen Huynh Trang, the department’s deputy director, businesses taking part in the city’s price stabilisation programme have increased supply and sell at 5-10 per cent below market prices. But following the relentless increase in pork prices since April the city has reviewed and agreed for them to increase pork prices once each in April, May and June. In … [Read more...] about BUSINESS IN BRIEF 26/6
BUSINESS IN BRIEF 17/4
Da Nang High-Tech Park tries to attract more investment After seven years in operation, Da Nang High-Tech Park is one of three high-tech parks in Vietnam receiving the government’s especially preferential treatment to lure greater investment. The park aims to promote technological innovation, technology incubators, and science and technology market development for the central and central highlands regions. The government and Da Nang municipal administration have invested nearly US$84 million in upgrading Da Nang High-Tech Park’s infrastructure. Covering more than 400 hectares, Da Nang Hi-Tech Park currently houses 10 projects with a total investment capital of US$250 million, three of them are 100% foreign invested projects. Doan Ngoc Hung Anh, Deputy Director of the Park’s Management Board, said since the beginning of this year an increasing number of domestic and foreign investors has visited the park to seek investment opportunities thanks to the … [Read more...] about BUSINESS IN BRIEF 17/4
BUSINESS IN BRIEF 28/1
One more project in the red for VinachemA Laos-based potassium salt mining and processing project is the fifth million-dollar loss-making project of Vietnam National Chemical Group (Vinachem) and the thirteenth of the Trade and Industry sector.The total investment of this Vinachem project is $522 million, including $105 million from Vinachem, $113 million from Vietnam Development Bank (VDB), $161 million from Bank for Investment and Development of Vietnam JSC (BIDV), and $143 million from VietinBank.The project’s scope of exploration is 10 square metres. It is expected to be built within five years and start exploration from 2020, producing 320,000 tonnes annually. However, after two years of construction, the project has stalled in 2017.In 2017, the 20 subsidiaries of Vinachem recorded a total profit of nearly VND2.2 trillion ($100 million), but four projects had a negative revenue of VND2.115 trillion ($93.2 million). Earlier, in the first days of 2018, Deputy Prime … [Read more...] about BUSINESS IN BRIEF 28/1
Social News 5/1
Quang Binh one of the top ten destinations in Vietnam: Trip AdvisorIn 2017, Central Quang Binh Province ranks fourth among the top ten Vietnamese destinations after Hanoi, Ho Chi Minh City, and Hoi An, according to the travel website Trip Advisor.Dang Dong Ha, vice director of the provincial Department of Tourism, said Quang Binh is known as the kingdom of caves and is a paradise waiting to be discovered on interesting tours of fascinating locations like Son Doong, Tu Lan cave system, Da Nhay beach, Thien Duong cave, Phong Nha-Tien Son, Chay River, and Toi cave.Quang Binh welcomed 100,000 foreign visitors for the first time in 2017, a year-on-year rise of 120%.Mr Ha attributed such a rise in popularity to the localities’ efforts in improving service quality and new tourism products, organizing a variety of promotional programs for local tourism like Quang Binh cave festival, and hosting Miss Grand International, all of which lured more visitors to the province. 21 explosions … [Read more...] about Social News 5/1