Collaborating centre on sustainable consumption and production

A tomato farm in Don Duong district, Lam Dong province, joining the platform of Koina (Photo courtesy of Koina) HCM City (VNA) – VinaCapital Ventures, a technology-focused venture capital fund of the Ho Chi Minh City-based VinaCaptial Group , has announced an investment of 1 million USD into Koina, an agritech startup founded in Vietnam. The investment from VinaCapital Ventures is part of Koina’s seed fundraising round. Koina, established in 2021, aims to build a large and efficient agricultural ecosystem in Vietnam by connecting farmers with financial organisations, suppliers, and retailers. Its “Farmer Platform” is intended to help farmers access loans, publicise prices, and give guidance on good agricultural practices. Thi Nguyen, co-founder and Chairman of Koina, said the funding from VinaCapital Ventures will help his firm expand sales channels and increase investment in technology to control quality and boost the value of agricultural products of Vietnam. … [Read more...] about VinaCapital Ventures pours 1 million USD into agritech startup

At the reception for Tatsuo Yasunaga, President and CEO of Mitsui & Co Ltd., the Government leader praised the company’s business performance in Vietnam, particularly in processing and distributing of local aquatic products. PM Phuc welcomed a joint project between Mitsui and Minh Phu Seafood Corporation which could push the shrimp export value of the major shrimp farming business in Vietnam to 1 billion USD. Yasunaga informed his host of the success of the joint project, which has seen over 150 million USD invested in improving Minh Phu’s processing, business management and export capacity, adding the sides plan to focus on upgrading refrigeration equipment and expanding export markets, particularly targeting Russia apart from the US. In another meeting with Han Chang-woo, chairman and CEO of Maruhan Corporation, PM Phuc said Vietnam is pressing ahead with effective equitisation of Stated-owned enterprises (SOEs), particularly in transport, infrastructure, construction, … [Read more...] about PM meets with leaders of Japanese conglomerates

Seven international partners will support the investment in infrastructure, transport, urban development, and climate response. Nearly US$8 billion will be pumped into Vietnam's Central Coast region to support the socio-economic development of the region towards sustainability and climate adaptation. An overview of the signing and awarding ceremony. Photo: Trung Nhan/The Hanoi Times The value was announced at a signing ceremony held on February 5 between the Ministry of Planning and Investment and international partners. Accordingly, the local authorities granted investment certificates and approved investment policies and investment cooperation for domestic and international investors. Among the investment deals, seven development partners are committed to providing a total capital of more than US$1.7 billion in 45 projects. The partners included the Asian Development Bank (ADB), the French Development Agency (AFD), the International Fund for Agricultural … [Read more...] about $8 billion to be pumped into Vietnam’s Central Coast

Despite the festive occasion, the consumption of non-essential goods in the first month of 2023 remained stagnant, with analysts believing the situation will linger throughout at least the first half this year. Despite the unfavourable environment, Mobile World Group (MWG) – the largest consumer electronics retailer in Vietnam – still aims to post positive revenue and net-profit growth in 2023, as well as two-digit growth compared to average level during the 2020-2022 period. To achieve this goal, the company envisages opening new stores on a selective basis and striving for new shops to generate profit for the patent company within three months after launching. Simultaneously, all shops in the system will focus on augmenting the sales revenue at existing outlets and controlling their operating costs to boost profits. Besides this, MWG will optimise its cash flow and slash financial expenses through improved inventory management. Specifically, the group aims to … [Read more...] about Retailers flexibly steering through turbulent times

Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam’s GDP growth reaches 8.02% this year, a record high in the 2011-2022 period as the economy is recovering strongly, General Director of the General Statistics Office (GSO) Nguyen Thi Huong told a press conference in Hanoi on December 29. The agro-forestry-fishery sector expanded by 3.36%, contributing 5.11% to the total added value of the whole economy. The industry-construction sector grew by 7.78%, contributing 38.24% while the service industry rose by 9.99%, making a 56.55% contribution to the economy. About the economic structure 2022, the agro-forestry-fishery sector accounted for a proportion of 11.88%, industry and construction 38.26%, services 41.33% and product taxes, exclusive of product subsidies, 8.53%. With an annual growth of 7.18%, final consumption contributed to 49.32% of the general growth. Asset accumulation rose by 5.75%, contributing 22.59%, while trade in exports, imports and services adding … [Read more...] about Vietnam’s GDP expands by 8.02% in 2022

Vietnamese people's cultural and human values should be central to the capital’s industrialization process. Hanoi aims to spearhead the nation's industrialization and modernization until 2030, with an eye on 2045. Hanoi has seen major transformation over the years. Photo: Pham Hung According to the municipal Party Committee, the goal of the plan is to transform the mindset and build consensus in the political system and people to achieve socioeconomic development objectives. The Party Committee emphasized the use of science-technology and innovation, specifically Industry 4.0 advancements, as a key solution for the country’s modernization in the 2021-2030 period. “This would help Vietnam to make breakthroughs in productivity and improve the economy's competitiveness,” stated the plan. For Hanoi, the plan identifies key targets for economic growth, enhancing socio-cultural values, urban development, and environmental protection. By 2030, Hanoi and other … [Read more...] about Hanoi to spearhead the nation’s industrialization efforts until 2030

The festival is held to thank the god for abundant crop and happy life in the past year and pray for peace and health in the new year. Long Tong Festival is annually held on the 14th and 15th day of the first lunar month. During the event, tourists to Bang Van listen to the story related to the origin of the festival. It is said that a long time ago, the country was in turmoil, so the king sent a general to this land to drive away the enemy. Thanks to the assistance of his talented wife, wherever the general went, the enemy troops were defeated. One day when the general was chasing the enemy’s troops, he was ambushed by them at Phja Den Mountain. His wife tried to hold back the enemy at Phja Cong Mountain. The general then blindfolded his horse and jumped off Phja Den Mountain. Having heard of the news about her husband’s death, the woman committed suicide at Phja Cong Mountain. Sympathizing with the fate of the general and his wife, local people set up a temple on Phja Den … [Read more...] about Long Tong Festival in Bang Van commune

Two homestay groups in the Mekong Delta province of Vinh Long and the Northwestern province of Lao Cai received the ASEAN Homestay Award. Meanwhile, four units won the ASEAN Community Tourism Award, namely the Quan Ba Community Tourism Service Cooperative in Ha Giang province, Sin Suoi Ho community tourism village in Lai Chau province, Tan Thanh fishing village in Quang Nam province, and Thai Hai Reserve Area of Ecological Houses-on-Stilts Village in Thai Nguyen province. The ASEAN Public Toilet Award was awarded to the toilets in Saigon Skydeck of Bitexco Financial Tower, Southern Women's Museum and Ben Xua Tourist Area in Ho Chi Minh City. The winners of ASEAN Spa Service Awards were Cham Spa & Massage in the Central city of Da Nang, Sen Tai Thu Vincom Mega Mall Smart City in Hanoi, Sol Spa of Minera Resort Hotel in the Southern province of Ba Ria - Vung Tau, Chi Spa of Silk Path Grand Resort & Spa Sapa - Lao Cai province, and Thala Spa of Best Western Premier Sonasea … [Read more...] about Vietnam wins numerous ASEAN tourism awards

The 6th Joint Committee Meeting (JCM) on Information and Communications Cooperation is held between Malaysia and Singapore on February 3, highlighting the importance of digitalisation. (Photo: Facebook/KKD) Kuala Lumpur (VNA) – Malaysia and Singapore have pledged to strengthen bilateral cooperation on personal data protection , cyber security and the digital economy. The commitment was made at the two countries' 6th Joint Committee Meeting (JCM) on Information and Communications Cooperation held in Kuala Lumpur on February 3. At the meeting, officials of Malaysia and Singapore shared their perspectives on the importance of digitalisation as their economies transition to the endemic phase of COVID-19. Both sides shared the view that the rising uptake of digital technologies during the pandemic demonstrates an opportunity to bolster digital economies and improve corporate and individual connectivity. Consequently, the need for a safe and secure online space has … [Read more...] about Malaysia, Singapore strengthen cooperation in data protection, cyber security, digital economy