About lunar new year 2021

Three lawmakers said on Monday they plan to reintroduce the "Protection from Abusive Passengers Act," saying the enhanced penalty is a strong deterrent and needed to improve aviation worker and passenger safety and "minimize disruptions to the national aviation system and restore confidence in air travel." Senator Jack Reed and Representative Eric Swalwell, both Democrats, and Republican Representative Brian Fitzpatrick are introducing the bill after a series of incidents aboard airplanes. Last year, the American Civil Liberties Union opposed creating a no-fly list for unruly passengers, saying the U.S. government "has a terrible record of treating people fairly with regard to the existing no-fly list and other watch lists that are aimed at alleged terrorists." During the early stages of the pandemic, much of the passenger anger was sparked by the federal government mask mandate. Despite the end of the airplane mask mandate in April 2022, the Federal Aviation Administration (FAA) … [Read more...] about US lawmakers make new push to bar convicted violent passengers from flights

Its revenues were VND1.579 trillion ($67.15 million) and earnings before interest, taxes, depreciation, and amortization (EBITDA) were VND195 billion, the highest gross profit margin in the industry, according to Masan’s newly published annual report. Highland Coffee had revenues of over VND2 trillion a year in 2019 and 2020. Phuc Long opened 23 large flagship stores and two mini shops in the last quarter of 2022, increasing their total numbers to 111 and 21. They represented a near doubling of numbers from 2021 when Masan first bought stakes in Phuc Long. The flagship stores achieved very high profit margins of 31% in 2022 and 26% in 2021. Last year they reported sales of VND1.1 trillion and profits of VND330 billion. But Phuc Long had to close 150 tea and coffee kiosks located inside WinMart retail stores, also belonging to Masan, in the second half of 2022, the annual report said. "We are adjusting this model (opening tea and coffee kiosks in WinMart stores) in the first … [Read more...] about How tea chain Phuc Long fared in the year after Masan takeover

FPT Retail is the owner of consumer electronics chain stores FPT Shop and pharmacy chain Long Chau, while Mobile World is the owner of consumer electronics chain stores The Gioi Di Dong (Mobile World) and Dien May Xanh, as well as drugstore chain An Khang, and food and consumer goods chain stores Bach Hoa Xanh. Drugstores of Pharmacity (left) and FPT Retail's Long Chau located next to each others in HCMC's Binh Thanh District. Photo by VnExpress/Quynh Tran According to documents prepared for its coming annual meeting in mid-April, FPT Retail plans to make pre-tax profits of VND240 billion (US$10.17 million) in 2023, down from VND485 billion in 2022, and VND554 billion in 2021. The main reason behind FPT Retail’s low expectations is difficulties at FPT Shop, the company’s retail chain. Last year FPT Shop contributed nearly 70% of FPT Retail’s VND30 trillion in total revenues. With both financing costs and inflation still rising, FPT Retail management has assumed … [Read more...] about Top electronics retailers Mobile World and FPT Retail facing a rough year

It is now nearly impossible to buy a new apartment at the VND 2 billion mark. According to a report in 2022 from Rever, a Southeast Asia technology firm in real estate brokerage, for VND1.5-1.8 billion, one can buy a 30-55 square meter apartment built 6-10 years ago in Thu Duc City, on the secondary market. The average income of workers in Ho Chi Minh City (HCMC) this year is about VND148 million a year, according to property listing platform Batdongsan.com.vn. By that calculation, it will take up to 24 years to save, with no spending on anything, just to buy an apartment. The type of apartment used in this survey costs VND3.5 billion per unit. The data also shows that Vietnam ranks first in Southeast Asia in terms of the gap between house prices and average worker incomes. From 2018 to 2021, the ratio of the difference between real estate prices and the average income of Vietnamese has continuously increased, surpassing even Singapore. On the other hand, Indonesia, Malaysia and … [Read more...] about A laborer needs to save for 25 years to buy an apartment

Many companies still store and manage data on-premises servers to ensure the fast access speed and meet the essential compliance regulations for data storage systems. — Photo courtesy of Schneider Electric Digital transformation forces many businesses to take advantage of the strength of cloud computing, moving infrastructure to the platforms of service providers. According to the Annual report on business transformation in 2022 published by the Department of Business Development under the Ministry of Planning and Investment and the US Agency for International Development (USAID) in February 2023, only 36.7 per cent of businesses have a budget to cover their digital transformation expenses, while 43.3 per cent of businesses have a budget for investments but are unable to cover the costs. Many companies still store and manage data on-premises servers to ensure the fast access speed and meet the essential compliance regulations for data storage systems. Moreover, there are many … [Read more...] about Schneider Electric releases new White Paper

Prayer for peace held for OVs in Phat Tich pagoda in Vientiane, Laos (Photo: VNA) Vientiane (VNA) – A prayer for peace for Vietnamese expats living, working and studying in Laos was held at the Phat Tich pagoda in Vientiane on February 15 (the 15th day of the first lunar month). happy New Year and good health for their families and other loved ones, and development and prosperity for the homeland. Phat Tich pagoda is among the popular destinations for OVs in Laos with architectural style imbued with Vietnamese spirituality. It offers them a spring atmosphere like in their homeland. VNA … [Read more...] about Prayer for peace held for OVs in Laos

People shop at a supermarket in Hanoi. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam is becoming an attractive retail market for companies all over the world with many regional and global FDI investors recently announcing plans to increase capital and expand distribution networks here. According to the Ministry of Industry and Trade, the Vietnamese retail market is worth 142 billion USD and is expected to increase nearly 2.5 times to 350 billion USD by 2025. In January, total retail sales of consumer goods and services decreased by 6% on-month to more than 481.8 trillion VND (20.4 billion USD) due to weaker demand as many commodities were purchased ahead of the Lunar New Year. People spent more on festival activities post Tet, said the General Statistics Office. However, it still rose 13% year-on-year. For the first two months of the year, the country’s total retail sales of consumer goods and services advanced 13% over the same period of 2022 to over 994.1 trillion VND. … [Read more...] about Vietnam’s retail market proves attractive for foreign investors

A Ford Ranger. The car was named “Best 4x4 and Pick-up” by the Women’s World Car of the Year judges. — Photo Courtesy Ford Vietnam The Ford Ranger has been recently named the “Best 4x4 and Pick-up” by the Women’s World Car of the Year judges. Women’s World Car of the Year is voted on by a jury comprising 63 women motoring journalists from 45 countries across five continents who make up the automotive industry’s only all-female jury. Vehicles across six categories are assessed for safety, driving, comfort, technology, design, efficiency, impact on the environment, and value for money. “Having worked on the new Ranger right from the beginning, I know how much customer feedback was poured into the truck to ensure it was fit for work, family, and play. And, as a mother, I can fully appreciate the truck’s practicality and advanced driver assistance systems. Thank you to the Women’s World Car of the Year jury for this award, which recognises Ranger’s global appeal and ultimate … [Read more...] about Ford Ranger named best pick-up

Several e-commerce platforms in Vietnam reported a decrease in the value of sales despite having launched many promotions. Consumers on e-commerce platforms used to prefer high-end, luxury items. The trend has changed, however, as buyers now focus on healthcare products, sportswear, and fitness products. The reason for this change is the impact of economic difficulties and inflation, many vendors on e-commerce platforms believed. They added that buyers now tend to seek healthcare products with reasonable prices and prefer direct discounts. Hung, whose online store specializes in selling phone accessories and electronic goods, said that the revenue of this group of products decreased by nearly 40 percent compared to the same period last year. Online shoppers only focus on beauty or healthcare products and tend to cut unnecessary spending, Hung added. Lazada’s report on February 3 showed that consumers want to receive more value from the products they buy, aside from … [Read more...] about E-commerce in Vietnam faces decreasing purchasing power

Participation in the EU-Vietnam Free Trade Agreement (EVFTA) has also enabled Vietnamese farm produce to make inroads into the European market. Belgium is Vietnam’s sixth-largest trade partner in the EU. Bilateral trade surged nearly 54% to 4.3 billion USD in 2021 compared to 2020, and reached 4.5 billion USD in 2022. Notably, since 2018, Vietnam and Belgium have become strategic partners in agricultural cooperation, which was an important milestone in relations. Besides agriculture , Belgium also wants to strengthen cooperation with Vietnam in fields such as tourism and healthcare. In addition to economic success, political and diplomatic relations between the two countries have also been thriving thanks to frequent high-level visits. Vietnam and Belgium have also strengthened cooperation and mutual support at multilateral forums and in international organisations. With a stable foundation over the past five decades, the friendship and cooperation between Vietnam … [Read more...] about Vietnamese farm produce finds favour in Belgium