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A construction site of Phat Dat Real Estate Development Joint Stock Company (PDR). PDR reported net revenue of VND14.6 billion (US$622,600) in the last 3 months of 2022. — VNA/VNS Photo A volatile real estate market caused revenues and profits of realty businesses to decrease sharply in the fourth quarter of 2022. Phat Dat Real Estate Development Joint Stock Company (PDR) reported net revenue of VND14.6 billion (US$622,600) in the last three months of 2022, a sharp decrease compared to the VND1.29 trillion recorded in the fourth quarter of 2021. The company suffered an after-tax loss of VND229.4 billion in Q4 of 2022, while in the same period in 2021, it reported a net profit of VND751.4 billion. This was considered Phat Dat's "failure" quarter as the company reported a loss for the first time since it announced business results. Dat Xanh Group Joint Stock Company (DXG) reported a loss of VND460 billion in the last quarter of 2022. During the period, the company's net revenue … [Read more...] about Volatile real estate market puts pressure on business results

By the end of December 31 the national flag carrier alone (not including its subsidiaries) was recording an accumulated loss of VND34.2 trillion ($1.46 billion). Its equity was a negative VND10.2 trillion. Vietnam Airlines still needs to publish its consolidated financial statement, which would include the earnings of its subsidiaries. If the report shows an accumulated loss, 2022 would be the third straight year the airline has posted a loss and its shares will be delisted from the HoSE. Under the current regulation, a company will have its ticker delisted if it reports losses for three consecutive years, its accumulated losses exceed the charter capital, or its equity is negative. The last time Vietnam Airlines received this warning was in September last year when it reported an accumulated loss of over VND5.1 trillion. The two years of Covid-19 created major difficulties for Vietnam Airlines and its subsidiaries Pacific Airlines and Vietnam Air Services Company (VASCO). … [Read more...] about Vietnam Airlines once again threatened with delisting

Duong Hung Mien Trung JSC based in Thang Binh District, Quang Nam Province, central Vietnam has shipped two million white-leg breeding shrimp to Taiwan. The parents of these shrimp were imported from Hawaii with a fast growth pace and strong disease resistance. The export affirms the quality of breeding shrimp of Vietnam and a stride in the development of the local shrimp breeding sector and the integration into the international market. Under a contract with its partner, the company will export some 20 million breeding shrimp to Taiwan in 2023. This is good news for Quang Nam Province’s fishing and agriculture as a whole. Duong Hung Mien Trung owns a 4.5-hectare shrimp breeding farm and auxiliary facilities covering four hectares. The shrimp breeding facility annually produces five billion post-larvae shrimp units. With more than 30 years of producing breeding shrimp with 114 breeding farms, Duong Hung Mien Trung has distributed shrimp breeds nationwide through its 32 … [Read more...] about Firm in central Vietnam exports 2mn breeding shrimps to Taiwan

ChatGPT and AI is set to boom in Vietnam In the early days of 2023, ChatGPT released by OpenAI is becoming popular all over the world. ChatGPT is a chatbot providing solutions to complex problems directly like composing essays, coding, and drafting business proposals. Within a few seconds after entering keywords, ChatGPT will provide text, images, audio, and other entertainment media in excellent quality. Just a few weeks after launching, this “super AI” has reached over 10 million users and has rapid growth. This success helps OpenAI negotiate an investment agreement worth $30 billion, more than double its valuation in 2021. After investing $1 billion in ChatGPT in 2019, Microsoft is planning to invest another $10 billion in exchange for 49 per cent of OpenAI's stake. This tech giant is considering integrating ChatGPT into Word, Powerpoint, Outlook, and even the Bing search engine to compete for market share with Google Search. Eric Boyd, CVP of AI Platform at Microsoft, … [Read more...] about ChatGPT and AI booms in Vietnam

Last year, Vietnam’s export revenue of agro-fishery-forestry products set a record high of 53.22 billion USD, up 9.3% year-on-year. However, Europe accounted for only 11.3% of its market share. This is a modest number, although the agricultural sector has optimized many advantages of the E.U. - Vietnam Free Trade Agreement (EVFTA). One of the main reasons is said to be the union’s high requirements on farm imports, while Vietnam’s agricultural production has yet to meet green growth requirements. According to the World Bank’s report, agriculture is the second highest emitter, accounting for 19% of the nation’s total gas emissions in 2020. About 48% of the sector’s emissions and more than 75% of methane emissions are from rice production. Therefore, to boost farm exports to the E.U., the sector is advised to pay more attention to green growth indicators through making policies and roadmaps to reduce greenhouse gas and methane emissions in accordance with international … [Read more...] about Vietnam develops green agriculture to increase exports to E.U.

Pineapple processing at Dong Giao Foodstuff Export JSC in the northern province of Ninh Binh. Agriculture plays a pivotal role in the economies of Viet Nam and the Netherlands and is deeply imprinted in the culture and people of the two countries. — VNA/VNS Photo Thuy Dung Due to their similar geographical features and advantages, the Viet Nam and the Netherlands have increased their sustainable development partnership in agriculture, water management, and climate change adaptation, said Ambassador of the Netherlands to Viet Nam Kees van Baar. Agriculture plays a pivotal role in the economies of Viet Nam and the Netherlands and is deeply imprinted in the culture and people of the two countries, the diplomat told Dau tu (Vietnam Investment Review). Close co-operation between the two sides has resulted in new visions and the blooming of business cooperation, with a growing number of the Netherlands' companies doing business and investing in Viet Nam. The Netherlands is the … [Read more...] about Viet Nam, Netherlands eye further cooperation in sustainable development

A French passenger was handed back a coat which contained EUR2,300 (USD2,530) that he had left at Noi Bai International Airport in Hanoi. On January 30, the man had left his coat at the airport’s Terminal 1 after finishing his check-in procedures for budget carrier VietJet Air’s flight VJ513 to the central city of Danang. The French passenger has been handed back his coat which contained EUR2,300 (USD2,530) A female staff member from Ha Linh Services JS Company found the coat and reported the problem to the airport’s security. Meanwhile, the French passenger informed the airline that he had lost his coat. On the same day, he received his coat with the money in from the airport’s security. The traveller expressed his great thanks to the airport’s management board. The airport has also proposed Ha Linh Service JS Company commend its female employee for reporting the found coat. Last year, 2,688 passengers had their personal items they had left at Noi Bai … [Read more...] about French passenger has coat and money returned from Noi Bai Airport

Vietnam's real estate market continues to show strong appeal to foreign investors despite global economic difficulties. The foreign direct investment (FDI) into Vietnam’s real estate market in 2022 rose by over 70% yearly to US$4.45 billion, focusing on industrial and large-scale commercial projects, according to the Ministry of Construction (MoC). Real estate projects in Hanoi. File photo The MIC’s report suggested that real estate stands second among sectors with the highest FDI attraction in 2022, which showcases “the strong appeal of the market to foreign investors amid a difficult global economic environment.” Neil MacGregor, Managing Director of Savills Vietnam, echoed this view by saying foreign investors remain attracted to Vietnam, especially in production, retail, logistics, and real estate. He expected the attention from foreign investors would help the local real estate accelerate the recovery process this year. Regarding this sentiment, HSBC … [Read more...] about FDI to Vietnam’s real estate rises by over 70% in 2022

Dao Van Chieu, from the north-central province of Thanh Hoa, said that he received a call on Monday, his first day back in the city after a visit to his hometown for Tet . "They offered me a job listening to music and liking songs on an online music site for VND10,000 (43 cents) per song," Chieu said. Despite having previously read warnings about online tricksters, he still tried out the gig as a way to investigate and possibly warn other people of the scam. "They actually paid me VND10,000," Chieu said, "then they tempted me to send in money for high commission. The online group they established had attracted nearly 4,000 members." As soon as he joined the group, his phone began receiving a relentless flow of chat notifications. Every time someone completed a task, they would send a message to the group. "Receiving hundreds of messages means hundreds of people believed in the system and had completed the tasks," Chieu said. "Among them, many might have been deceived." … [Read more...] about Hundreds fall for post-Tet online scams

Tran is currently the assurance leader for PwC Vietnam, a role he has played since 2019. He has over 26 years experience in auditing, accounting and management through construction and real estate, manufacturing and services, hospitality as well as the entire sale and retail industry. Mai Viet Hung Tran Tran’s core expertise lies in assurance, International Financial Reporting Standards and Vietnamese Accounting Standards. Under his leadership, the assurance practice has grown significantly and built up a portfolio of audit clients, including many local companies and multinational corporations. "We are pleased to announce Tran’s appointment and are confident that under his leadership, the firm will continue to grow and deliver on our client and people's expectations. It has been a fulfilling experience leading the firm since 2011, growing our multidisciplinary practice, developing new capabilities and most importantly, driving efforts to make PwC a better place to work … [Read more...] about PwC Vietnam appoints Mai Viet Hung Tran as general director