Microsoft and SAP promote co-operation
Microsoft Viet Nam and SAP announced their partnership.
Microsoft Viet Nam and SAP – one of the global leaders in enterprise software – on Friday announced a strategic partnership.
This mutual collaboration aims to propel Viet Nam’s Industry 4.0 by providing integrated offerings from both companies for enterprise customers in Viet Nam to be able to drive more business innovation in the cloud. This collaboration will also help accelerate SAP and Microsoft’s cloud business growth in Viet Nam.
As leaders in enterprise software, SAP and Microsoft are aligning closely to provide companies in Viet Nam with the safe and trusted path to digital transformation. SAP and Microsoft are moving ahead in bringing SAP’s various software and services to Azure. The two tech giants will also co-engineer, go to market together with premier solutions and provide joint support services to move forward to the best cloud experience for customers.
General Director, Microsoft Viet Nam, Pham The Truong, said “The strategic partnership with SAP marks a milestone for Microsoft in not only powering our own organisation, but also powering our enterprises in Viet Nam to run their most mission-critical applications and workloads with SAP S/4HANA on Azure.”
“We are taking our relationship to the next level with this new capability to run SAP S/4HANA in the Microsoft Azure environment,” said Josephin Galla as Managing Director, SAP Viet Nam. “The world’s significant businesses trust Microsoft and SAP. This trusted, optimised and seamless enterprise-ready cloud strategic partnership will help businesses in Viet Nam accelerate their digital transformation. Together, we will help Vietnamese companies leapfrog and thrive in Industry 4.0.”
SAP HANA Enterprise Cloud — SAP’s private managed cloud service — on Microsoft Azure allows customers to run SAP S/4HANA in a more secure, managed cloud. With SAP HANA Enterprise Cloud on Azure, customers get the best of both worlds: application management and product expertise from SAP and a global, trusted and intelligent cloud from Microsoft Azure, including the range of Microsoft cloud services.
Around 85 per cent of businesses in the world’s Fortune 500 are operating on Microsoft and SAP systems. In Viet Nam, there are 15 firms starting their digitalisation progress by running SAP service in the Microsoft environment.
Xiaomi unveils new products to welcome 3rd year in Viet Nam
Redmi Note 7. – VNS Photo courtesy of Xiaomi Vietnam
Global technology company Xiaomi launched the Redmi Note 7 in HCM City on Thursday.
The company said the mobile phone was one of four new products it is launching that day to kick off its third year in the Vietnamese market and expand its already large product portfolio.
“In March 2017 Xiaomi first entered Viet Nam with its distributor agreement,” Steven Shi, Xiaomi’s head of Southeast Asia, said.
“We started with nothing here other than some very loyal Mi Fans. In the two years that have passed we have built a brand that sees us number four in the market, oversees a range of Mi stores spanning the nation, and offers a full eco-system of products that we are adding to today.”
“We promised Viet Nam that we would deliver on our Innovation for Everyone mission here, and today we are once again fulfilling that promise to the market,” he said.
It has a 48mp camera with enhanced light sensitivity that captures bright, clear images even in low light. The camera is coupled with the company’s latest AI features.
The Redmi Note 7 will be available in blue and black and cost from VND3.99 million (US$175) to VND5.96 million ($261) when it hits shop shelves on March 28.
The Redmi 7 was also unveiled at the event. It features a 6.26-inch display and 12+2 MP dual cameras. The company said the phone would enter the “record books for the power it packs at an incredible price point.”
It is also available in blue and black and costs VND2.99 million ($131).
The other products launched at the event were the Mi Home Security Camera Basic 1080 and 16-million color Mi LED smart bulb, which the company said could last 11 years.
They will be available from Match 28 for VND699,000 ($31) and VND499,000 ($22).
MoT backs Vietjet’s plan to expand Dien Bien Airport
Dien Bien Airport in the northern province of Dien Bien. — Photo maybaygiare.vn
Vietjet’s proposal to expand Dien Bien Airport in the northern mountainous province of Dien Bien has received support from the Ministry of Transport (MoT).
The new-age airline wants to build the airport’s new passenger terminal at an expected cost of nearly VND1.85 trillion (US$79.6 million) under the build-operate-transfer format with a contract term of 55 years.
The airline also said it would prioritise renting the new terminal after the contract expired.
In a recent report, the MoT said Vietjet had asked Dien Bien’s People’s Committee to set aside VND1.21 trillion to fund site clearance and resettlement of affected families.
The local budget would cover new facilities such as runways, a taxiway, apron and roads at VND1.34 trillion and a new air traffic control tower worth VND60 billion, as per the report.
Vietjet estimated that the expansion of the airline would take 24 months, the report noted.
The Airports Corporation of Vietnam (ACV) would retain its position as the operator of the airport. In term of the new passenger terminal, ACV would team up with Vietjet to recruit staff for the terminal, parking lot and other supporting facilities.
The provincial People’s Committee had previously stressed the importance of upgrading the airport in a document sent to the MoT.
According to the MoT, Dien Bien Province needed to balance its budget for the clearance work amid State budget constraints. The central budget could only set aside VND1.34 trillion for the project.
The ministry also suggested the Prime Minister to assign the Commission for Management of State Capital at Enterprises and the ACV to promptly work out an effective funding solution for the airport’s expansion if the province failed to get sufficient financing from the State.
Hanoi Plas Print Pack expo attracts 50% more exhibitors
The 2019 Hanoi Plas Print Pack, a biennial international exhibition on the plastic, print and packaging industry, will be held in Ha Noi next month with 50 per cent more exhibitors than last time.
The 10th edition has attracted 180 exhibitors from 10 countries and territories – India, Taiwan, the Netherland, South Korea, Hong Kong, Malaysia, Japan, Singapore, China, and Viet Nam – and will feature South Korean and Taiwanese pavilions.
It will feature most phases of the production process. In the raw material segment, for instance, companies like Toyo and De Paauw will introduce plenty of products made from high-quality plastic materials and recycled plastics, while Chyi Yang, Aoxiang and Polystar will showcase multi-layer plastic film blowing machines.
In packaging, Hemingstone and Chao Wei will exhibit bag-making machines with various functions.
In the printing segment, Truong Thinh will introduce German industrial inkjet printer Leibinger while Queesense will present aniline printers for polyethylene, mobile phone, paper, and other packaging materials.
In addition to showcasing the latest products and technologies, the exhibition will also feature a workshop on Industry 4.0 opportunities in the Vietnamese plastic and packaging sector, which will help participants understand more about the market.
According to Mordor Intelligence Research, the compounded annual growth rate of the Vietnamese plastics market will be 6.63 per cent in 2018-23, with the largest driving force being injection molding, which is used to produce thin-walled plastic parts such as household appliances, household electronics and automobile control panels.
To be organised by the Viet Nam National Trade Fair and Advertising Company (Vinexad), Yorkers Trade and Marketing Service Co Ltd and the Viet Nam Plastics Association, the exhibition will be held at the Hanoi International Exhibition Centre from April 24 to 27.
It is expected to attract over 8,000 trade visitors.
Rice farmers in Tiền Giang switch to saltwater-resistant crops
Farmers in Tiền Giang Province’s Tân Phú Đông District categorise lemongrass they have harvested before selling them to traders.
Farmers in Tiền Giang Province’s Tân Phú Đông District have turned nearly 500ha of low-yielding rice paddies into lemongrass and soursop farms because of saltwater intrusion and drought.
The two crops can tolerate high levels of salt.
The rice paddies used to yield only one rice crop each year in the rainy season because of the saltwater and drought in the dry season.
Now farmers grow lemongrass on 360ha and soursop on the rest.
Besides being hardy, they also offer high yields and are in great demand in the market.
Nguyễn Văn Sum, who grows lemongrass on his 0.7ha of rice paddy in Tân Phú Đông’s Phú Thạnh Commune, said lemongrass is easy to grow and suits the soil and harsh conditions in the district.
He harvests around 30 tonnes a year and earns VNĐ50 million (US$2,150) a year, many times the money he would make from rice, helping his family escape poverty, he said.
Lê Hồng Đáng of Tân Phú Đông’s Phú Đông Commune has converted his 5,000sq.m rice field into a soursop orchard.
It gives high yields of 5-7 tonnes of fruits a year and he earns VNĐ70 million ($3,020), he said.
He has also taught dozens of poor rice farmers in the neighbourhood how to grow soursop and helped them switch.
Phú Thạnh and Phú Đông are the most affected in the district by saltwater intrusion and drought. Previously farmers would grow one rice crop in the rainy season and leave the field fallow in the dry season.
The district is located at the end of the Tiền River, a tributary of the Mekong, and is badly affected by saltwater intrusion as a result when the water flows backwards in the dry season.
Under the district’s agricultural restructuring plan in the period to 2020, it is identifying crops that can adapt to saltwater and drought and provide high incomes such as lemongrass and soursop.
The district has about 1,500ha under lemongrass and an annual output of 22,000 tonnes.
It is planted in fields, embankments, along roads and around houses in the district.
Some farmers still rotate between lemongrass and rice while others have given up rice.
The district had nearly 1,000ha under soursop as of the middle of last year compared to 600ha in 2015, according to its Agriculture and Rural Development Division.
The fruit provides some 10 times the income as rice, it said.
Soursop can be harvested throughout the year.
The district’s soursop is sold in other delta provinces but mostly to HCM City. The fruit is eaten fresh or used to make fruit shakes and jams.
Nguyễn Văn Hải, head of the division, said the district plans to use all low-yield rice fields to grow lemongrass, soursop and other high-value crops that can tolerate the district’s harsh natural conditions next year.
The crops help farmers improve their lives, he said.
The district had more than 3,500 poor households last year, or a 31 per cent rate.
Tân Phú Đông, one of Tiền Giang’s poorest districts, aims to reduce the rate to 19 per cent by next year.
Trà Vinh shrimp farmers earn more from staggered breeding
A rice field used for both growing rice and breeding aquatic species like shrimp in Long Hòa Commune in Trà Vinh Province’s Châu Thành District.
Giant river prawn farmers with more than one pond in the Mekong Delta province of Trà Vinh increased their incomes by staggering the release of prawn fry into their ponds through the last breeding season to ensure there was no oversupply and prices remained high.
In the past, farmers used to release and thus harvest the prawns together, running the risk of oversupply and losses if prices declined.
But this time, they were advised by local agricultural officials to stagger the release.
Nguyễn Văn Nam, who has bred the prawns in Châu Thành District’s Long Hòa Commune for five years, said he earned VNĐ200 million (US$8,620) from two ponds with a total area of 1.2ha in the 2018-19 season.
At the beginning of the season he began to breed fry in one pond and a month later in the other.
After eighth months he harvested the largest prawns (making eight to 12 to a kilogramme) in the first pond and left the smaller ones untouched. One month later, he did the same in the second pond.
He kept harvesting the prawns when they reached market size, and this way he harvested them several times during the crop, he said.
Giant river prawn is one of the aquatic species that Trà Vinh authorities encourage farmers to raise in both brackish water and freshwater since it is easy to breed and resistant to diseases.
Giant river prawns can live in water with a salt content of 0.4-0.6 per cent and so can adapt to areas affected by saltwater due to climate change.
The province has some 2,100 households raising them in nearly 2,000ha of ponds and producing 1,500 tonnes annually, according to the province’s Fisheries Sub-department.
They earn an average of VNĐ50 – 70 million ($2,155 – 3,120) per hectare per year.
Households who breed only male prawns earn up to 1.5 times more than those breeding both sexes.
The giant river prawn, black tiger shrimp and white-legged shrimp are the province’s major shrimp species and are bred in brackish water.
Trà Vinh has 30,000ha of brackish water where more than five billion shrimp are bred annually, according to the Department of Agriculture and Rural Development.
But there are only 48 establishments producing fry which meet only 45 per cent of local demand.
The province thus has to buy fry from other elsewhere, mostly from the neighbouring province of Bạc Liêu and south central provinces of Ninh Thuận and Bình Thuận.
Phạm Minh Truyền, director of the department, said it was difficult to monitor the quality of fry since the province buys large volumes from other provinces.
Many farmers in Trà Vinh have been affected by the slow growth of their shrimp this year because of the poor quality of fry, according to the department.
Lê Thị Nhàn, who has a 0.3ha pond in Cầu Ngang District’s Vinh Kim Commune, said she bred 15,000 white-legged shrimp fry this year and they only reached a weight of 99 to a kilogramme after two and a half months.
In previous crops, they would often reach a weight of 82 to a kilogramme within two months, she said.
Ten of her neighbours also faced the same situation this year, she added.
To improve oversight of fry quality, Trà Vinh has signed agreements with provinces from which it buys them.
Besides it has solicited investment in farms to produce fry.
The province breeds shrimp under various models like industrial farming, extensive farming, breeding in mangrove forests, and farming shrimp in rice fields in the dry season.
Quang Tri to launch major port projects
My Thuy port in design (Photo: baodautu.vn)
The construction of two key port projects worth more than 14.8 trillion VND (636.4 million USD) is scheduled to begin in the central coastal province of Quang Tri this year.
The Nam Cua Viet specialised seaport will be built on 19 ha within the 120ha Cua Viet port in Trieu Phong district in May. Funded by the CFG Quang Tri Co. Ltd, the project is set to cost 640 billion VND (27.52 million USD).
It consists of two phases. The first phase, lasting until 2020, is expected to construct two wharves serving ships weighing 3,000 – 5,000 DWT and capable of handling 0.2 – 0.5 million tonnes of throughput per year. The second phase will kick off after 2020, building another two wharves for boats of similar or bigger sizes compared to those in the first phase, with annual throughput capacity of 1 – 1.4 million tonnes.
In September, the construction of the 685ha My Thuy port is scheduled to begin in the East – South Quang Tri Economic Zone in Hai An commune, Hai Lang district. The three-phase project, costing in excess of 14.2 trillion VND (611.2 million USD), will build 10 wharves, each capable of handling 100,000 DWT vessels.
The area aims at providing port services for the economic zone, local industrial parks, and goods in transit from Laos and norteastern Thailand on the East-West economic corridor.
Seaport logistics sector to play bigger role in Hai Phong’s economy
A container is loaded onto a truck at Tan Vu Terminal of the Hai Phong port complex
The northern port city of Hai Phong is working to develop logistics services so that they will contribute 25 – 30 percent of its gross regional domestic product (GRDP) by 2030.
The target was set in the city’s plan for logistics services development until 2030.
Hai Phong hopes that by 2020, logistics services will enjoy an annual growth rate of 25 – 30 percent and contribute 15 – 20 percent of the GRDP. The respective figures are aimed at 30 – 35 percent and 20 – 25 percent by 2025.
The city looks to have a basically complete logistics network by 2030, when the sector will maintain a growth pace of 30 – 35 percent and its contribution to the local economy will reach 25 – 30 percent.
To realise these targets, the city is developing various logistics services, especially the ones serving local seaports and airport such as goods transportation, customs clearance, and container storage and loading services.
By 2025, it will develop six logistics centres able to handle about 90.65 million tonnes of goods per year, or 50 – 60 percent of the goods volume that needs logistics services in the city.
These centres will be upgraded and expanded by 2030 to handle 140.35 million tonnes of goods each year, or 60 – 65 percent of the goods volume needing logistics services.
Under this plan, the city will promote the training of logistics human resources to raise the rate of trained workers in this sector to 70 percent by 2025 and 80 percent by 2030.
Chairman of the municipal People’s Committee Nguyen Van Tung said Hai Phong is a port gateway which ranks first in the northern region and second in Vietnam in terms of the goods volume handled.
Notably, the Hai Phong and Lach Huyen port complexes hold the utmost importance in Vietnam when they are located near international shipping lanes and are connected with existing facilities to form a system of terminals. This will increase the volume of goods transported via the city as well as demand for logistics services in the time ahead.
HCM City backs Thailand’s KBank to open first branch in VN
Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen (R) and First Senior Vice President at KBank Pattanapong Tansonboon
Ho Chi Minh City will create favourable conditions for Thai-based Kasikorn Bank (KB Bank) to open its branch in the city, the first of its kind in Vietnam, helping diversify local credit and banking activities, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen has said.
Hosting a reception for First Senior Vice President at KBank Pattanapong Tansonboon on March 22, Tuyen spoke highly of the bank’s strengths in small and medium enterprise (SME) lending and digital banking services, and said that the bank’s development strategy in Vietnam is in line with the city’s orientations.
He hoped that during its operation in the city, KBank will enhance cooperation and share experience in financial management and development of financial and credit services with Vietnamese partners.
Pattanapong Tansonboon, for his part, said that the bank stands ready to share experience with the Vietnamese city in supporting SME development, handling bad debts, branching out digital banks and implementing cashless payment.
KBank is one of the leading providers of SME lending in Thailand. The bank received licenses to reopen its representative offices in Hanoi and Ho Chi Minh City in 2014. It is going through procedures for another license to open its first branch in Ho Chi Minh City, Vietnam’s biggest economic hub.
Vietnam, RoK boost financial, economic partnership
Participants pose for a group photo at the conference
The eighth international economic and financial conference of Vietnam and the Republic of Korea (RoK) took place in Hanoi on March 22.
The event was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with Vietnam’s Ministry of Finance, the RoK’s Financial Services Commission, and EDaily magazine.
Deputy Minister of Finance Tran Xuan Ha said the cooperation between Vietnam and the RoK has deepened in various fields after over 25 years of establishing diplomatic ties, particularly in economics and finance.
He noted that in 2018, two-way trade reached 65.7 billion USD.
The RoK is now the biggest foreign investor in Vietnam. In the past five years, the RoK’s annual registered foreign direct investment (FDI) has always been at around 7-9 billion USD.
The RoK is also one of Vietnam’s biggest bilateral donors with many loans through the Korea Economic Development Cooperation Fund (EDCF). So far, the RoK Government has signed 55 credit agreements with Vietnam worth a total 2 billion USD.
More than 6,600 RoK investors have joined the Vietnamese stock market and six RoK-invested securities companies are active in Vietnam. RoK insurance firms are also operating effectively in Vietnam.
The Deputy Minister gave a brief overview on the economic situation in Vietnam, highlighting an impressive growth of over 7 percent in 2018.
Last year, Moody and Fitch credit ratings organisations upgraded their outlook on Vietnamese Government bonds to stable, he said.
Vietnam is an ideal destination for major trans-national groups, including those from the RoK such as Samsung, LG and Lotte, he added.
The Southeast Asian country has attracted more than 27,000 FDI projects with total registered capital of over 335 billion USD over the past 30 years. The total FDI disbursement was 185 billion USD.
In the coming time, the Vietnamese Government will push ahead with institutional reforms while maintaining macro-economic stability, curbing inflation, and ensuring major balances of the economy, he said.
“We will continue restructuring the economy, especially public investment, State enterprises, in addition to improving the business environment and promoting economic growth in a rapid and sustainable manner,” the deputy minister affirmed.
While evaluating the cooperation potential of the two countries, chairman of EDaily Kwak Jea-sun said Vietnam is the most important partner of the RoK in the ASEAN in terms of promoting new investment policies in all arenas such as education and human resource exchanges.
He noted that in 2018, the two countries exchanged 3.3 million workers and Korean companies have been continuously expanding investment in Vietnam.
Commercial transactions between the two sides have been promoted, he said, adding that Vietnam is the third biggest export partner of the RoK, after China and the US.
Vietbuild Hanoi to feature over 1,600 pavilions
More than 1,600 pavilions will be set up at Vietbuild Hanoi 2019 (Photo:tuoitrethudo.com.vn)
More than 1,600 pavilions will be set up at the Vietbuild international exhibition, the largest exhibition of the construction sector in Vietnam, which will take place in Hanoi from March 27-31.
The event is expected to draw nearly 200 domestic businesses, 45 joint ventures and over 160 foreign groups and enterprises from 18 countries and territories, heard a press conference in Hanoi on March 22.
Representatives from the organising board said the construction material sector faces many difficulties in 2019, as many foreign companies will be able to export their goods to Vietnam under free trade agreements to which Vietnam is a member.
Therefore, domestic companies are striving to enhance their competitiveness and improve product quality in order to compete with their foreign counterparts.
Following the success of the previous events, Vietbuild Hanoi 2019 provides a venue for businesses to display their latest products in the fields of construction, building materials, real estate, and interior and exterior decoration.
Last year’s expo attracted 1,500 booths run by nearly 400 domestic and foreign companies.
Vietnam learns international experience in building e-government
At the workshop (Source: http://vpcp.chinhphu.vn)
A workshop was held in Hanoi on March 22 to seek ways to improve the institutional framework for e-identification and e-authentication in e-government development towards a digital government and economy in Vietnam.
The event was co-organised by the Vietnamese Government’s Office, the Ministry of Information and Communications, the World Bank, and the Australia Agency for International Development.
Participants shared effective models which are being carried out in some countries such as Estonia, Singapore, Thailand, and Denmark, and talked about challenges during the implementation process.
Minister and Chairman of the Government’s Office Mai Tien Dung said e-identification and e-authentication in e-government building is important to the reliability of e-transactions, especially online public services.
He said nearly one billion people globally lack identification while the remaining 6.6 billion people have some form of identification but more than half of the identification forms cannot be used effectively in the today’s digital ecosystem.
He pointed to the fact in Vietnam that individuals and organisations have many codes such as health insurance codes, social insurance codes, tax codes, and bank deposit codes.
In absence of a national database on population, the Prime Minister has requested domestic and foreign experts to devise ways to authenticate identification using these codes as soon as possible.
According to Dung, most public services portals and information systems in Vietnam still use accounts and passwords to authenticate identification of users, which does not ensure accuracy.
He said Vietnam is building institutions to ensure the confidentiality of personal information, connection, sharing, identification and authentication as well as information security during the process of transaction.
The country launched the National E-Document Exchange Platform on March 12.
The national public service portal will be launched in the fourth quarter of this year.
The Minister hoped the World Bank, the Australian Government, and international experts will continue supporting Vietnam to build the e-government.
Can Tho seeks logistics centres for air transport
Can Tho International Airport
The Mekong Delta city of Can Tho needs to develop logistics centres to meet increasing demand for the transportation of goods by international and domestic airlines.
Vo Thanh Thong, chairman of the city’s People’s Committee, made the statement at a recent meeting with the Ministry of Industry and Trade (MoIT)’s delegation. He added that four businesses have put forward proposals to develop such centres in cooperation with the city.
Logistics services for the transport of goods by air are very important for Can Tho and the Mekong Delta region, Thong said, because agricultural products, especially farming and fishery products, must be fresh if they are to be sold at high prices. Therefore, besides preservation, the moment of transport for those products is very important.
At present, Can Thơ International Airport is connected with Hanoi in the north, Da Nang in the central region, and Phu Quoc and Con Dao islands in the south. In 2019, the airport will be connected through five new domestic routes to the northern port city of Hai Phong, Thanh Hoa, Vinh, and Nha Trang in the central region, and Da Lat in the Central Highlands and two international routes to Bangkok (Thailand) and Kuala Lumpur (Malaysia).
Can Tho expects to exploit these routes for both transporting passengers and cargo, Thong said. Therefore, demand for logistics services is high, especially demand for the transport of fresh agricultural products.
Municipal authorities are in the process of studying the four investors that have made proposals to choose suitable partners, according to the official.
He said the projects need support from the Ministry of Industry and Trade and the Ministry of Transport to ensure efficiency, especially in terms of selecting partners.
At the meeting, Minister of Industry and Trade Tran Tuan Anh said the ministry would continue to discuss more details about the development of air logistics centres with Can Tho’s authorities.
He said now the MoIT is in the process of talking with a Japanese partner about the development of a food processing centre in the Mekong Delta region. Under the project, an air logistics facility will be developed to serve the food processing centre.
The minister also asked Can Tho to pay more attention to attracting enterprises, especially from the Republic of Korea and Japan.
In August 2018, Can Tho City People’s Committee and Vietnam Airlines Corporation (Vietnam Airlines) signed an agreement to develop the Can Tho Air Logistics Centre on an area of about 27 hectares next to Can Tho airport.
FDI firms contribute ideas to promote growth in HCM City
An FDI firm in Ho Chi Minh City
Representatives from foreign-invested (FDI) enterprises in Ho Chi Minh City contributed their ideas and recommendations to spur growth in the city at a meeting with municipal leaders on March 23.
Secretary of the city’s Party Committee Nguyen Thien Nhan hailed the development of the FDI sector in the city, which has become one of the growth drivers for the city. He reported that 1.55 billion USD had been poured into HCM City in the first three months of 2019, up 20.4 percent from the same period last year.
The official said the new trend of technological development and globalisation has required the city’s administration to reform its management in order to create a favourable environment for business activities and innovation.
Chairwoman of the American Chamber of Commerce in Vietnam (AmCham) Amanda Rasmussen said at the meeting that HCM City has made progress in facilitating business activities and goods circulation.
However, she said the frequent change of laws and regulations, including taxation policies and tax rates, is causing difficulties to foreign investors, as it affects their business and investment plans.
Vice Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Tomaso Andreaatta affirmed that HCM City is an attractive destination for foreign investors, including those from Europe. However, to achieve a breakthrough in growth and foreign investment attraction, the city should accelerate infrastructure projects and take effective flood control measures along with improving public transport.
Andreaatta added that as European investors pay great attention to the environment, HCM City should set up a body to manage the discharge of waste water in industrial parks and propose the Government issue policies on air quality and public transport development, thus ensuring a clean living environment for the city’s residents and foreign investors.
Carlos Dominguez Agulleiro, deputy head of the Economic and Commercial Office of Spain in HCM City, said an increasing number of Spanish enterprises are making the decision to invest in Vietnam. If in the past they were attracted to the country by the low labour cost, now they choose the country based on high growth, stable macroeconomic foundation and a clear policy on global cooperation.
At the same time, he pointed to existing hurdles to the flow on investment into HCM City, including a lack of transparency of procedures, which causes delay and uncertainty for enterprises and investment projects. In addition, delayed transport projects have affected the pace of many investment projects, and the lack of suitable infrastructure has remarkably reduced the competitiveness of Vietnam in general and HCM City in particular.
Chairman of the municipal People’s Committee Nguyen Thanh Phong appreciated the recommendations of the foreign business community, and stressed that the city always considers the FDI sector an important part of the local economy and attaches importance to promoting the sector’s long-term development.
According to the official, the city is now home to more than 8,000 FDI projects with total registered capital of nearly 45 billion USD. With an average 20 billion USD of export revenue each year, the FDI sector accounts for 58.7 percent of the city’s total export value. The sector is employing 670,000 workers and creating indirect employment for millions of others.
Phong affirmed that the city will continue with efforts to create a favourable and competitive investment environment in accordance with international standards and commitments in new-generation free trade agreements to which Vietnam is a member. The city’s administration will always listen to investors and work closely with them for the city’s sustainable development and the investors’ success, he said.
BIDV named as Best Retail Bank in Vietnam for five consecutive years
The Bank for Investment and Development of Vietnam (BIDV) was named the Best Retail Bank in Vietnam for five consecutive years.(Photo: vnexpress.net)
The Bank for Investment and Development of Vietnam (BIDV) was named the Best Retail Bank in Vietnam for five consecutive years by The Asian Banker Magazine.
The award was presented to the bank at a ceremony held in Dubai, the United Arab Emirates on March 21, in conjunction with the Excellence in Retail Financial Services International Awards 2019.
With this valuable award, BIDV has affirmed its unceasing efforts in providing the customers with high-tech products and services.
Last year, the bank paid due attention to promoting modern distributing channels and became a pioneer in applying the achievements of the Fourth Industrial Revolution to meet the diverse demands of the customers. Its prominent products include BIDV SmartBanking featuring virtual assistance, QRPay, online currency trading, BIDV Pay allowing customers to withdraw money at ATMs without cards, among others.
Besides, BIDV has improved customer services through the 24/7 Contact Centre and Social Medial Command Centre.
To date, the bank has launched over 100 products and services for individual customers.
As of December 31 last year, BIDV’s total assets exceeded 1.28 quadrillion VND (55.11 billion USD), the most among banks in Vietnam. The bank also posted more than 9.63 trillion VND (414.2 million USD) in pre-tax profit, an annual increase of 11 percent.
The bank was ranked 307th in the 2019 list of the world’s top 500 valuable bank brands recently announced by the Brand Finance, an independent branded business valuation and strategy consultancy firm. The ranking was up 44 places against 2018.
VN firms advised to stay alert to risks of US-China trade tension
Deputy head of the Trade Remedies Authority of Vietnam Chu Thang Trung
Vietnamese importers and exporters should stay alert and take a proactive approach to risks posed by the unpredictable development of the US-China trade tension, experts said at a workshop in Ho Chi Minh City on March 22.
Deputy head of the Trade Remedies Authority of Vietnam Chu Thang Trung said that the trade war between the two largest economies of the world has been affecting the goods trading flow, and increasing the US’s trade defence investigations against its big importers.
It has also forced the two countries’ enterprises to seek ways to intensify exports to third countries, putting import pressure on other markets, including Vietnam, Trung stated.
According to him, if the trade war is not solved early, there is a great risk for Vietnamese exporters to be subject to trade defence investigation and measures of the US.
He cited as examples several cases in the past, when the US’s investigation and trade defence tax targeting Chinese products were usually followed by measures against the same kinds of Vietnamese product 3-4 years later.
Lawyer Nguyen Thi Phuong Thao from IDVN Lawyers Firm said that the biggest risk of the trade tension for Vietnamese enterprises is the transfer of commodities from China to Vietnam. She said Chinese goods will enter Vietnam in the form of temporary import for re-export or for simple processing in order to gain Vietnamese origin, and then be exported to the US.
This move will help Chinese goods avoid high taxes, but it will be a good reason for the US to conduct an investigation and apply trade defence against Vietnamese products.
Therefore, she advised Vietnamese businesses to keep themselves up to date regarding trade defence measures imposed on products of China and other competitors. They should also think twice before using materials originated from China and other countries which are subject to US trade defence measures.
Meanwhile, Chau Viet Bac, Vice Secretary General of the Vietnam International Arbitration Centre (VIAC), suggested Vietnamese firms to take the initiative in assessing risks, avoid getting involved in the transfer of goods from China, and well keep documents on origins of products and materials.
Samsung Vina launches six new monitors
Samsung Vina Electronic launches six new computer monitors to meet the demands of users.—Photo news.samsung.com
Samsung Vina Electronics has launched six new computer monitors.
The new monitors include the Space monitor, UR59C curved monitor, CRG9 with 5K resolution, CR500 with three-sided bezel-less design and QHD resolution, and the CJG50 and CJG51.
Suh Kyung Wook, president of Samsung Vine Electronics, said the company had conducted research to improve the product and bring the best experience to users.
The new generation of monitors frees up desk space and improves image quality to meet users’ work and entertainment needs, he said.
The space monitor is designed with an integrated clamp design that allows users to adjust the height of the monitor to meet the needs and eye level of users.
With a flexible design and high resolution (the 27-inch version has QHD resolution and the 32-inch version has 4K UHD resolution), the space screen offers extremely detailed photos with the sophistication of a new-style screen.
The 49-inch CRG9 has 5K resolution and is considered to be the best monitor in the market for gamers. The CRG9 monitor also has HDR AMD Radon Free Sync technology which reduces lag and delay
The 32-inch curved UR59C monitor with 4K resolution has up to one billion colours, offering rich visual experiences, especially useful for designers.