9 hacks to accelerate digital business

Prime Minister Pham Minh Chinh speaks at the conference (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh urged the business community and associations to take specific solutions and join hands with ministries, sectors and localities to remove difficulties, towards promoting economic recovery and sustainable development. Chairing at a Government to Business (G2B) conference on August 11, PM Chinh said thanks to tireless efforts over the last two years, Vietnam has managed to contain the COVID-19 pandemic, with stable macro-economy, inflation under control and positive economic growth . He asked for more efforts to improve the business and investment environment and accelerate the reform of administrative procedure s; build industry strategy and planning; and develop socio-economic infrastructure, towards creating favourable for businesses to build long-term and sustainable business, production and investment orientations. Participants at the meeting … [Read more...] about PM asks for greater efforts to promote sustainable recovery

In February, Vietnamese State President Nguyen Xuan Phuc paid a state visit to Singapore, with both nations vowing to continue cementing economic ties. How has this cooperation been implemented so far? Singaporean Ambassador to Vietnam Jaya Ratnam Singapore and Vietnam’s strong economic, trade, and investment ties are underpinned by decades of consistent and meaningful engagement between our governments and peoples. During President Nguyen Xuan Phuc’s state visit to Singapore earlier this year, he and President Halimah Yacob reaffirmed these ties and committed to further collaboration. Our leaders also oversaw the signing of an MoU on economic and trade cooperation between our two countries. We are starting from a very strong base. Singapore has been the leading source of foreign direct investment into Vietnam for the past two years. Singapore is now Vietnam’s second largest foreign investor, with total registered capital of nearly $70 billion. This demonstrates the … [Read more...] about Singapore and Vietnam commit to further strong collaborations

With the peak summer travel season drawing to a close, Vietnam’s international tourism segment still faces bottlenecks on its route to full recovery. Within the framework of a program early this week to discuss the current state of the Vietnamese tourism sector, representatives from businesses and organizations across the country voiced doubts that Vietnam will meet its goal of welcoming five million foreign tourists by the end of the year if regulations governing visa policies, infrastructure, and personnel are not relaxed. Incomplete recovery According to Cao Thi Tuyet Lan, sales manager at Viettours Incentives & Events Co. Ltd., foreign tourists still find it difficult to enter the country despite Vietnam having fully reopened its borders. “What's more, it is hard to apply for visas for business travelers who work with domestic enterprises," Lan said. “[The domestic partner] first has to register [the foreign partner] with the Immigration Department, then wait for a … [Read more...] about Vietnam still struggles to welcome back int’l tourists

The capital city is committed to accompanying the business community in promoting industrial products using advanced and environmentally friendly technologies with high-added value. Hanoi is pushing for the development of industrial infrastructure and key industrial products, seen as the driving force for the capital city’s sustainable economic growth. Thang Long Industrial Park in Dong Anh District, Hanoi. File photo During the first six months of 2022, the municipal Department of Industry and Trade started the construction of six industrial parks and is working on accelerating 38 other projects in the city. For the 2021-2025 period, Hanoi aims for supporting industries to make up 30% of the total value of industrial production, an increase of 5% from the current level; raise the value of key industrial products to 40-45% of total industrial production, and expects 10% of businesses in Hanoi to stay among Vietnam’s top 500 companies. To realize this goal, … [Read more...] about Hanoi promotes industrial infrastructure development for sustainable growth

Emulating the ambitions of Singapore’s high-tech vision, Photo: Le Toan Last week, Prime Minister Pham Minh Chinh urged Singaporean groups to increase their investment in Vietnam, notably in the fields of technology, strategic infrastructure development, logistics, and cutting-edge startups. According to PM Chinh, the Vietnam-Singapore strategic partnership is growing strongly and quickly in all areas, particularly the economy, trade, and investment. The two-way trade increased by over 23 per cent to reach $8.3 billion in 2021, and it reached $4.75 billion in the first half of 2022. He stressed that Vietnam wishes to strengthen its bilateral strategic alliance and learn from Singapore’s experience in establishing an independent, self-sufficient economy in parallel with intense and wide international integration. The PM suggested that the two countries should launch projects and events to commemorate the 50th anniversary of bilateral diplomatic relations and the 10th … [Read more...] about Emulating the ambitions of Singapore’s high-tech vision

A conference to review first-half operations and set out second-half tasks Significant contributions Despite numerous difficulties and challenges, the industry and trade sector yielded positive results in the first half of the year, making significant contributions to the country’s socioeconomic development, Minister Dien said. Nguyen Thuy Hien, deputy director of the Planning Department under the Ministry of Industry and Trade, highlighted bright spots related to the industry and trade sector’s growth goals in the first half of the year. Accordingly, the added value of the industrial sector increased by 8.48 percent compared to a year ago. Total export-import turnover reached an estimated US$371.3 billion, with exports increasing by 17.3 percent to more than US$186 billion. In particular, the export growth rate of the domestic sector (19.5 percent) overtook that of the FDI sector (16.6 percent), reflecting intensified efforts of domestic businesses to restore trade, … [Read more...] about Production back to pre-pandemic level

At the “International experience on blockchain technology development and recommendations for Vietnam” conference held last Friday, Michael R. DiGregorio, the Asia Foundation’s country representative in Vietnam, suggested that the Ministry of Information and Communications (MIC) should allow businesses to experimentally approach areas that are not clearly regulated by laws, such as blockchain. Legalities in way of blockchain progress, illustration photo The Asian Foundation is collaborating with Vietnam Blockchain Corporation and jupviec.vn to pilot the application of blockchain. After the blockchain platform is successfully integrated into jupviec.vn, the system will connect about 2,000 domestic helpers with potential customers through the website and mobile application. This creates favourable conditions for workers when looking for a job, helping to increase their ability to negotiate salaries and other benefits related to their work records and professional … [Read more...] about Legalities in way of blockchain progress

Kredivo, one of the most valuable fintech unicorn in Southeast Asia, has been established in Vietnam since August 2021 through the partnership with VietCredit JSC. Sendo is one of the leading e-commerce platforms of Vietnam, serving millions of customers and sellers in Vietnam every month. This partnership takes Kredivo to the next level in its business journey in Vietnam. With the simplicity of just 2-clicks, Sendo’s customers will be able to seamlessly checkout via Kredivo while allowing these customers to repay in 30 days at 0% or over 3, 6 and 12 months. During the registration process, customers can sign up through the mobile application, and get approval by VietCredit for a credit limit of up to 25 million VND in nearly real-time. Krishnadas, SVP Business Development of Kredivo, said, “Kredivo aims at solving customers' needs to access fast and affordable credit, while also supporting merchants in driving higher Gross Merchandise Value. We are delighted to partner … [Read more...] about Kredivo and VietCredit provide “Buy Now Pay Later” service on Sendo

Jakarta (VNA) - Secretary-General of ASEAN Dato Lim Jock Hoi highlighted the need for closer public-private partnership amid challenging global economic outlook, at the 14th Dialogue with the Federation of Japanese Chambers of Commerce and Industry in ASEAN (FJCCIA) on August 10. FJCCIA representatives along with key important figures in ASEAN – Japan cooperation including Ambassador of Japan to ASEAN Akira Chiba, President of the Economic Research Institute of ASEAN and East Asia (ERIA) Professor Hidetoshi Nishimura and Chairman of Japan External Trade Organization (JETRO) Sasaki Nobuhiko attended the meeting. At the dialogue, Secretary-General Dato Lim highlighted ASEAN’s strategies to attain economic resilience in the post-pandemic world by leveraging on trade openness, digital transformation, and sustainability. He also welcomed closer engagements with Japanese businesses to increase trade and investment activities and deepen collaboration in technology transfer, digital … [Read more...] about ASEAN chief highlights need for closer public-private collaboration

Ngo Khai Hoan, Deputy Director of the Vietnam Industry Agency Ngo Khai Hoan, Deputy Director of the Vietnam Industry Agency: Industrial production recovers strongly With the government’s decision to switch from “Zero COVID-19” to safe and flexible adaptation to the pandemic, industrial production has seen strong recovery and has been restored to pre-pandemic levels, especially the manufacturing and processing sector. The added value of the industrial sector increased by 8.48 percent in the first half of 2022 compared to a year ago. The index of industrial production (IIP) grew by 8.7 percent in the first half of the year, with the manufacturing and processing sector going up by 9.7 percent. Almost all localities saw IIP increases, with high rates recorded in the provinces of Bac Giang, Bac Ninh, Quang Nam and Binh Phuoc. --------------------------------------------------------------------------- Tran Duy Dong, Director of the Domestic Market Department … [Read more...] about First-half industry and trade highlights