Agricultural sector

Bach Hoa Xanh is Vietnam's third-largest grocery chain GIC is among the bidders looking to acquire a stake in Bach Hoa Xanh in a transaction that could increase the grocery chain's valuation to $1.5-1.7 billion. Other bidders include companies from Thailand. The deal is slated to be wrapped up in the first quarter of 2024 if the negotiations are successful, as reported by Reuters . "The deal is nearing the finalising stage and is expected to close soon," a source with knowledge of the matter said. Mobile World said, "Information will be announced once the deal is concluded. The company is still in a private placement and has signed an agreement not to disclose information with interested bidders." Established in 2015, Bach Hoa Xanh, backed by Vietnam's retail giant Mobile World Investment, runs more than 1,700 stores in Vietnam's southern and south-central provinces. Mobile World has now decided to proceed with the planned sale after putting it on hold earlier this … [Read more...] about Singapore’s GIC eyes potential M&A deal in Vietnam’s retail sector

The increase in electricity prices remains a hot topic as it has a major impact on households and businesses alike. Vietnam Electricity (EVN) has proposed another increase in retail electricity prices to compensate for its losses. Speaking at the state capital management in enterprises seminar last week, Nguyen Xuan Nam, vice president of EVN, said, "EVN accepts selling electricity at much lower prices than feed-in-tariffs (FiT). Although electricity prices have climbed three per cent in 2023, it only minimizes some parts of lingering difficulties since 2022. This year, retail electricity prices were not adjusted in a timely manner. As a result, EVN has incurred a loss of $1.48 billion." He added, "EVN's main task is to ensure a sufficient supply of electricity to the economy. However, the company encounters many challenges in mobilising and balancing its capital to fund its initiatives and ensuring safe operation and sufficient electricity supply in the following years. In 2023, … [Read more...] about Adjusting electricity tariff vital to the energy sector

The festival is expected to attract numerous visitors. The Vietnam Craft Village Festival 2023 will be held from November 9 to 12 in Hanoi to promote craft village products and tourism. Foreign visitors at the Hanoi Gift Show 2022 in October last year. Photo: The Hanoi Times The festival's program includes a ceremony to honor artisans and craftsmen, the opening ceremony, and an international exhibition of craft village products and One Commune One Product (OCOP) goods at the Imperial Citadel of Thang Long. Nguyen Thi Hoang Yen, deputy head of the Department of Economic Cooperation and Rural Development, told a press conference on September 26 that six events will be held in response to the Vietnam Craft Village Festival 2023, including an art show of traditional cultural craft villages, an international workshop on craft villages with about 250 foreign and domestic delegates, a Vietnam-San Marino trade networking workshop with about 100 participants, … [Read more...] about Hanoi to host Vietnam Craft Village Festival 2023

Trương Tiến Triển, deputy chairman of the Cần Giờ District People's Committee, speaks at the seminar “Cần Giờ specialties and solutions to build brands of HCM City agricultural specialties" held in Cần Giờ on Saturday. — VNA/VNS Photo Building brands will enhance the value of Cần Giờ District’s agricultural specialties and enable them to reach more consumers in the domestic market and beyond, a seminar has heard in HCM City. Speaking at the “Cần Giờ specialties and solutions to build brands of HCM City agricultural specialties" late last week, Trương Tiến Triển, deputy chairman of the district People's Committee, said the city’s only coastal district has 43,000ha of agricultural land, including 10,000ha for aquaculture with an output of 30,000 tonnes a year. It also has 200ha of mango orchards mainly in Cần Thạnh town and Long Hòa Commune, he said. “This is the Hòa Lộc mango variety. Farmers use fish protein to fertilise them and so the fruits have high quality and a very … [Read more...] about Experts call for popularising Cần Giờ specialities by building brands

According to the Ministry of Industry and Trade, 72 countries recognize Vietnam as a market economy, including Canada, Australia, Japan, and South Korea. The UK did so recently with an official letter to the effect. Speaking to VnExpress , a Trade Remedies Authority Department official said since its first anti-dumping investigation case against Vietnam in 2002 the U.S. had been considering the country a non-market economy. In a meeting with the U.S. Secretary of Commerce Gina Raimondo in Washington last Tuesday, Prime Minister Pham Minh Chinh proposed the U.S. to soon recognize Vietnam’s market economy status . The need for recognition of Vietnam's market economy status was also in the joint statement between General Secretary Nguyen Phu Trong and President Joe Biden on upgrading the two countries' relations to a Comprehensive Strategic Partnership. The EU also sees Vietnam as a non-market economy. In 2015, while free-trade agreement negotiations were underway, the EU … [Read more...] about Significance of Vietnam being a market economy

Two weeks ago, the government held a forum to help make the first steps to shape the market of high-efficiency energy-consuming equipment by 2030. The move is made amid the rising pressure to alleviate power outages and achieve the net-zero goal by 2050. More options looked at for energy-efficiency goals, photo VNA The event, on developing the high-efficiency energy-consuming market from policy to implementation, was organised by the Office of the Steering Committee for Energy Efficiency under the Ministry of Industry and Trade (MoIT). One measure discussed was promoting the use of high-efficiency energy-consuming equipment and gradually eliminating outdated technological products. Meanwhile, low-efficiency energy-consuming equipment such as storage water heaters and infrared hobs is prohibited to import, produce, and sell in Vietnam, according to a decision made in May. Dang Hai Dung, deputy chief of the Office of Sustainable Production and Consumption under the … [Read more...] about More options looked at for energy-efficiency goals

Huynh Thanh Dat, Minister of Science and Technology, and Susan Elliott AM, interim president and vice-chancellor of Monash University What does it mean to Monash University to successfully host International TECHFEST 2023? We are pleased to host International TECHFEST 2023 – the first time the event has been held in Australia – as we celebrate the milestone of 50 years of diplomatic relations between Vietnam and Australia. We are delighted to collaborate with Vietnam's Ministry of Science and Technology and to have the opportunity to welcome the country's delegation to Monash. International TECHFEST 2023 reflects Monash University’s distinctive global footprint and commitment to international collaborations. It is a wonderful platform to strengthen relations between Monash and Vietnam, and deepen our connections with Vietnamese students, researchers, and industry leaders. Importantly, this event offers a significant opportunity to enhance the potential of the … [Read more...] about Monash University helps Vietnamese startups unlock their potential

In Vietnam, the import of wild-caught lobster larvae is under strict control because of short supply, yet the smuggling of this in-demand shellfish remains rampant on social media, posing immeasurable risks. Many raft owners in Cam Ranh City, Khanh Hoa Province find it difficult to import official lobster larva shipments, while some online sellers offer lobster larvae in great numbers and with plenty of pricing. When buying lobster larvae becomes a gamble Despite being aware of numerous risks in quality, many consumers still go for buying lobster larvae online. "Vendors vaguely claimed that these infant lobsters hailed either from Indonesia or the Philippines,” said Le Phuong Dung, a buyer in Cam Linh Ward, Cam Ranh City. The price per lobster larva peaked at VND60,000 (US$2.46) in July and August, while each cost about VND40,000 ($1.64) at the moment, said Dung. Besides purchasing from a regular contact, she usually orders lobster larvae online as this kind of trading … [Read more...] about Lobster larvae increasingly smuggled into Vietnam

Several ongoing trends in the Vietnamese tourism sector have contributed to its strong recovery in the wake of the global COVID-19 pandemic, with the increasing travel demands of Gen Z and families with kids as significant contributors, according to the Visa Global Travel Intentions Study (GTI) 2023. Vietnam, with its stunning landscapes and diverse cultural heritage sites, has become a popular destination for travelers from around the world. According to the study, it is vital for both travelers and industry stakeholders to understand new trends in Vietnamese tourism following the pandemic. In terms of leisure trips, families with kids and 'Silvers' – individuals older than 60 – made an average of 2.4 trips over the past 12 months, more than any other market segments, according to the GTI 2023. Besides ticking visiting landmarks, Vietnamese tourists are now placing a strong emphasis on leisure-focused and experiential journeys. Relaxation was the main driver of travel, … [Read more...] about Emerging trends expected to power Vietnam’s tourism boom: study

Upstream floodwaters caused by heavy rains over the past couple of days took a heavy toll on a pig farm in Thanh Hoa Province, north-central Vietnam, with 1,108 pigs swept away as of 10:00 am on Thursday. The incident triggered estimated losses of over VND3 billion (US$123,259), Dong Van Thanh, who manages the pig farm under Nhu Xuan Agriculture Development Company, located in the province’s Nhu Xuan District, told Tuoi Tre (Youth) newspaper on the same day. Le Tien Dat, head of the district’s agriculture and rural development sub-department, said the agency has worked with relevant bodies and the company to jointly cope with the aftermath of the incident. Floodwaters inundate a pig farm in Thanh Son Commune, Nhu Xuan District, Thanh Hoa Province, north-central Vietnam. Photo: Supplied Authorities and the farm operator called on local residents to return the missing pigs, with each weighing some 60 kilograms on average, to the farm if they discover any of them … [Read more...] about Over 1,100 pigs swept away by floodwaters in Vietnam