Difference revenue and profit

SINGAPORE/HANOI -- Singapore's sovereign wealth fund GIC is among investors vying to buy up to 20 percent stake in grocer Bach Hoa Xanh from Vietnam's retail giant Mobile World Investment, in a deal that could value the grocery chain at up to $1.7 billion, two sources said. GIC declined to comment. Other bidders include companies from Thailand, the sources added, declining to be named as the matter is private. The identity of the potential buyers has not been reported previously. "The deal is nearing to the finalising stage and expected to close soon," one of the sources with knowledge of the matter said, adding that a deal could be sealed as early as the first quarter of next year if negotiations are successful. In a statement to Reuters , Mobile World said it would announce the information once the deal was concluded. "We are still in a private placement and have signed an agreement not to disclose information with interested bidders," it said. The potential deal would … [Read more...] about Singapore’s GIC among bidders vying for stake in Vietnam’s third largest grocery chain

The program is dedicated to the 10 young women volunteers who gave their lives for the victory of Dong Loc during the anti-American war. An art performance celebrating the 55th anniversary of the Dong Loc Victory is being produced by the Vietnam Women's Museum and director Le Quy Duong. Titled Huyen Thoai Thanh Xuan (Legend of Youth), the performance is dedicated to 10 young female volunteers who gave their lives for the Dong Loc Victory during the anti-American war. Dong Loc T-junction is located in Dong Loc Commune in the Central province of Ha Tinh, on the legendary Ho Chi Minh Trail. The stage is designed to recreate the Dong Loc battlefield. From 1965 to 1968, the US Army dropped nearly 50,000 bombs and fired tens of thousands of missiles on the Dong Loc T-junction to cut off the transport route to the southern front. To keep the traffic flowing, all human resources were mobilized to clear the road. Ten girls between the ages of 17 and 24 … [Read more...] about Dong Loc battlefield re-enacted at Hanoi museum

Data from WINA estimates that in 2022, China’s national noodle demand amounted to nearly 45 billion servings, followed by Indonesia at 14.2 billion, and Vietnam with 8.48 billion. This means each Vietnamese person consumed an average of 85 packs a year, ranking first globally. The report indicates that the instant-noodle demand among Vietnamese decreased slightly between 2021 and 2022, with the figures down by nearly 1 per cent. However, the 8.6 billion packs sold in 2021 marked an increase of more than 20 per cent compared to 2020. Vietnam is home to about 50 instant noodle producers, offering a diverse range of options and price points. Dominated by four major instant noodle makers, namely Acecook Vietnam, Masan Consumer, Uniben, and Asia Foods, the competition in Vietnam's instant noodle market is becoming fiercer. In 2022, Acecook generated revenues of over $590 million. Annually, it provides the market with more than three billion instant food products each year, making it … [Read more...] about Vietnam among the world’s principal instant noodle consumers

Art Trail #01 – Travel & Workshop occurs at Ana Mandara Villas Dalat On September 18, Annam Gallery and Ana Mandara Villas Dalat Resort & Spa kicked off their Art Trail #01 – Travel & Workshop with the mission to inspire young artists. Organised by the Lan Tinh Foundation in collaboration with Annam Gallery and Ana Mandara Villas Dalat Resort & Spa, the event is a journey created by three young artists amid the nostalgic French colonial architecture of Dalat, in a place once designated as a retreat for French officials and soldiers during the colonial period. Each artist has one week at Ana Mandara Villas Dalat, during which they can find inspiration in the resort’s space or go around the city to start their first drafts. Each artist will have a personal studio space to organise their work to utilise going on field trips and studio practice. The theme of this creative camp is about nature, the landscapes of Dalat’s mountains and forests, the grounds of Ana … [Read more...] about Art Trail #01 Travel & Workshop held at Ana Mandara Villas Dalat

At Khoi Dang Tac Khi, a lantern workshop where old-fashioned Mid-Autumn festival lanterns are crafted for and promoted to customers from around the globe, Nguyen Thi Kim Thuy, 31, and her husband are busy preparing for the upcoming holiday. When it all started Founded in 2022, Khoi Dang Tac Khi refers to the sound of a beating drum on a battlefield. Though the workshop was only launched last year, Thuy has been working with lanterns since 2018 when she came across photos of people hanging traditional lanterns on the streets of Hanoi in the 1920s to celebrate the Mid-Autumn festival. The Mid-Autumn Festival, which is celebrated by many Asian countries including Vietnam, is due on the 15th day of the eighth month in the lunar calendar. It is a tradition for children to spend the holiday carrying lanterns, chanting traditional moon-welcoming songs, and playing traditional games. Seeing those pictures of the old days, Thuy was deeply impressed with the sophisticated and … [Read more...] about Ho Chi Minh City couple bring traditional lantern to global audience

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

A FireGroup Technology representative receives the Việt Nam’s Top 10 Digital Technology Companies. — Photo courtesy of FireGroup Technology FireGroup Technology has won the Top 10 Digital Technology Companies Awards in two categories for 2023: Logistics and e-Commerce solutions and impressive revenue growth. The annual awards, presented by the Việt Nam Software and IT Services Association, were announced in Hà Nội last week. It marks a milestone in the company’s journey from being a start-up founded by five entrepreneurs driven by their passion for e-commerce and drop-shipping. “In 2023, during the seventh year of our development journey, FireGroup remains steadfast in our fundamental desire to grow,” Khoa Le, one of the founders and CEO of FireGroup Technology, said. “We are a dedicated team with growth mindsets that transform our work into a passion, fostering a culture of learning where we actively explore and apply the world’s leading innovations and creative ideas. … [Read more...] about FireGroup Technology wins Việt Nam’s Top 10 Digital Technology Companies Awards

Lotte's largest retail complex in Vietnam has opened all establishment “We are committed to accompanying the socioeconomic development of Hanoi and Vietnam through investment activities, research, and development of more projects here,” said Shin Dong-bin, chairman of Lotte Group. Located in Hanoi, the $624 million complex combines a shopping mall with a hotel, cinema and aquarium, and has officially opened all establishments of the largest retail complex in Vietnam this month, is the 16 th supermarket of Lotte Mart in Vietnam, and the third branch of Lotte Mart in Hanoi. This is in light of the restructuring in China and stagnating sales in Korea. The move signifies Lotte's turn towards Southeast Asia. “1996 marked the beginning of Vietnam's Lotte Group with an investment contract for shopping malls and supermarkets, and now we have 19 member companies of Lotte in Vietnam,” he said. Lotte Shopping operates department stores, hypermarkets and supermarkets, e-commerce, … [Read more...] about New Lotte mall expands operating terms amid growth in foreign retail

Hanoi Opera House is given a highlight in the Vietnam video. (Photo: VNA) Seoul (VNA) – A series of videos released by the ASEAN – Korea Centre (AKC) on September 27 is expected to provide a deeper insight into the rich culture and unique architecture of Cambodia, Indonesia and Vietnam, as well as promote collaboration between the ASEAN bloc and the Republic of Korea (RoK). Themed “a journey to culture and architecture” the five-minute videos shed light on two cities in each nation. The respective countries' national tourism organizations recommended the architecture to be featured in the videos and architect-writer Oh Young-wook provided the commentary. The Vietnam video takes viewer to Hanoi, a city with 1,000 years of history, and Ninh Binh – dubbed as the “Ha Long Bay on land”. It spotlights a blend of European flair and traditional elements in such iconic structures as the Opera House, St.Joseph’s Cathedral, Phat Diem Cathedral and Bai Dinh Pagoda. For Cambodia, … [Read more...] about ASEAN – RoK centre releases video to promote ASEAN tourism

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