Business

Many brands in Vietnam invest to develop commercial conversation to better serve their customers. (Photo: Infobip) HCM City (VNS/VNA) - Brands in Vietnam and the Asia Pacific region are strongly investing in commercial conversation to improve the customer experience, experts said. About 77.9 million Vietnamese residents use the Internet out of a total population of 98.5 million as of January 2023, which contributes to the popularity of social networking platforms. Therefore, the potential for conversational commerce in Vietnam is incredibly wide. Telecommunications service providers in the country have used conversational commerce platforms for account notifications and to offer hyper-personalised promotions and discounts to customers. In addition to Facebook and Instagram, Vietnamese are very active in using communication apps such as Zalo and Viber. Furthermore, e-commerce is one of the fastest-growing business segments in the country. Many online retailers in Vietnam … [Read more...] about Customer experience, business expansion driving conversational AI investment

Masan is operating 3,500 supermarkets and convenience stores nationwide. (Photo: VNA) Hanoi (VNA) - Vietnamese conglomerate Masan Group on October 2 said it has secured funding of at least 200 million USD from Bain Capital , one of the world’s leading private investment firms with approximately 175 billion USD in assets under management. The investment would be in the form of convertible dividend preference share at a price of 85,000 VND (3.5 USD) per share which can be converted into ordinary shares at a 1:1 conversion ratio, Masan said in a statement, adding that proceeds would be used to strengthen its financial positions. Danny Le, General Director of Masan Group , said Masan wishes to cooperate with Bain Capital to promote its vision in which consumers are put at the centre, thus becoming a platform serving their daily needs. Barnaby Lyons, a leader of Bain Capital, noted his belief that Masan has many solid foundations, and a suitable vision and growth … [Read more...] about Vietnam’s Masan Group secures 200 million USD investment from Bain Capital

Workers of Viet Vuong 3 company in Ben Tre province (Photo: VNA) Ottawa (VNA) – The Vietnam Trade Office in Canada is focusing on helping Vietnamese businesses make the most of CPTPP's principles of origin in the garment and textile sector through connection activities and provision of information about the Canadian market, according to Trade Counsellor Tran Thu Quynh at the Vietnamese Embassy in Canada. She said after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect in December 2018, Canada immediately eliminated 42 tariff lines on Vietnamese textile and garment products, and after five years of implementation, the export value of Vietnamese textile and garment products increased by 100% compared to that in 2018. At the Apparel and Textile Sourcing Canada 2023, held in Toronto in late August, Vietnam’s Viet Vuong company received attention from the organisers and the Canadian Textile Industry Association, thanks to its … [Read more...] about Trade Office helps Vietnamese firms grasp opportunities in Canadian market

By 2050, Ba Ria-Vung Tau will strive to become a national marine economic hub and a maritime logistics centre of Southeast Asia. (Photo: baobariavungtau.com.vn) Ba Ria-Vung Tau (VNA) – With advantages in terms of landscapes, developed seaports, transport infrastructure connectivity, and potential for industrial development, the southern province of Ba Ria-Vung Tau is striving to become a national marine economic hub . The province boasts a long coastline with flat clean beaches, well-known historical cultural sites, and traditional festivals, which are favourable conditions to promote its tourism. Moreover, the province locates next to major economic hubs and populous localities in the Southeastern region with a market of over 18 million people and per capita income being 1.5 times higher than the country’s average. Cai Mep-Thi Vai Deep-water port in the province is the region’s gateway to the East Sea. It is one of the 20 large ports in the world, capable of … [Read more...] about Ba Ria-Vung Tau strives to become national marine economic hub

Acting Chairman of the Quang Ninh provincial People’s Committee Cao Tuong Huy (R) and General Director of HAECO Group Richard Sell. (Photo: baoquangninh.vn) Quang Ninh (VNS/VNA) - HAECO Electrical Mechanical Group (HAECO), one of the world’s leading aircraft engineering and maintenance service providers, aims to invest in the aviation industry in Quang Ninh province . In a recent meeting with the province's leaders, Richard Sell, General Director of HAECO Group, said he was impressed with the remarkable development of Quang Ninh and revealed intention to conduct research and invest in the province. According to Cao Tuong Huy, Acting Chairman of the provincial People’s Committee, Quang Ninh is home to Van Don airport, but the province's aviation logistics infrastructure is still underdeveloped despite being a prioritised sector. Therefore, Huy suggested a collaboration between HAECO and Sun Group, the investor in the Van Don Airport, to soon deploy the logistics project. … [Read more...] about HAECO eyes aviation investment in Quang Ninh province

Wood chips for export (Photo: VNA) Hanoi (VNA) - Wood pellets and wood chips are a bright spot in the shipment of forestry products, said head of the Wood Chip Section under the Vietnam Timber and Forest Product Association (Viforest) Thang Van Thong. Statistics from the General Department of Vietnam Customs showed that wood chip exports brought home 1.1 billion USD in the first seven months of this year while wood pellets earned 380 million USD. Following the heated growth in the last half of 2022, the average export price of wood pellets decreased by nearly 3% to around 157 USD per tonne in the first half of this year. The Republic of Korea (RoK) and Japan have been the two major importers of wood pellets from Vietnam, accounting for nearly 100% of the total volume and value of Vietnam’s exports to all markets since 2019. During January-June, Japan spent over 195 million USD on importing more than 1.16 million tonnes of pellets from Vietnam, up 5.65% in volume and … [Read more...] about Wood pellet, wood chip exports – a bright spot: official

Although bachelor’s degree holders account for the majority of jobseekers, the number of jobs requiring such degree was only 23% of total, said the survey by the HCMC Human Resources Forecast and Labour Market Information (Falmi). The survey polled 14,500 businesses and 32,300 jobseekers in the city in the third quarter. More than one-fifth of jobseekers held a college diploma, and the number of jobs that required this level of education accounted for 24.6%, implying that there was no major difference between recruitment supply and demand. Up to 13.5% of recruitments were for blue-collar workers, but only 0.5% of jobseekers were in this category. Falmi deputy director Do Thanh Van said that university degree holders are having more trouble looking for jobs because there is a gap between jobseekers’ and employers’ expectations of salary and capability. The survey found that over 40% of jobseekers expect a monthly pay of over VND20 million (US$820), but only 15% of … [Read more...] about 77% of jobseekers hold university degrees: HCMC survey

Hung Yen looks to become "promising land" for foreign investors (Photo: VNA) Hung Yen (VNA) – The northern province of Hung Yen has focused on creating a safe, effective and competitive investment environment to turn the locality into a “promising land” for enterprises, particularly foreign investors. Secretary of the provincial Party Committee Nguyen Huu Nghia affirmed that the province has set a goal to become an industrial hub and an attractive, safe, competent investment destination in its development strategy from now to 2023 with a vision to 2045. Hung Yen boasts a rich network of tangible and intangible cultural heritages and was once a major economic centre. Lastly, the province has an abundant, highly skilled, and hard-working workforce. Vietnam factory project in Thang Long Industrial Park II has the largest investment capital with 132 million USD. The factory specialises in producing LCD polarised films used for smartphones and cars, with a capacity of 176 … [Read more...] about Hung Yen looks to become “promising land” for foreign investors

An oil rig of Petrovietnam (Photo: VietnamPlus) Hanoi (VNA) – Forty-eight years since its establishment, the Vietnam Oil and Gas Group (Petrovietnam) has become a multi-billion-dollar enterprise and made breakthrough and comprehensive development strides. Petrovietnam was set up on September 3, 1975 with the goal of helping guarantee national energy security and serving as a pillar of economic support for national development. Shortly after the date of national reunification (April 30, 1975), on September 3 the same year, the Vietnam General Department of Oil and Gas, the predecessor of Petrovietnam , was established under the Council of Government in efforts to realise late President Ho Chi Minh’s aspiration to develop an oil and gas industry of the country. Nearly half a century has passed, Petrovietnam has managed to master the most cutting-edge technologies and build a complete oil and gas industry. From 1986 to 2022, it posted more than 400 billion USD in total … [Read more...] about Petrovietnam in step with 48 years of national development

Shoppers at a supermarket in Ho Chi Minh City (Photo: VNA) HCM City (VNA) – The September CPI in Ho Chi Minh City increased by 0.56% from August, with rises seen in the prices of eight out of 11 groups of commodities used to calculate the index. The highest increase, 1.4%, was seen in transport services, driven by higher prices of fuels and means of transport. The group of housing, utilities and construction materials posted a 1.11% hike. Three groups of commodities with price reduction are post and telecom services (0.94%), beverage and tobacco (0.31%) and garment, headgear and footwear (0.14%). The average CPI in the first nine months of the year went up 3.45% from the same period last year, with rises seen in nine groups of commodities except for transport services and post-telecom./. VNA … [Read more...] about September CPI in HCM City picks up 0.56% month on month