Digital economy

Illustrative photo It is for this reason that more thought is being given to create alternate non-cash payment methods, with online and non-contact with cash across countries. This new preference and shift towards digitization will bring about a new form of exchange between service providers and consumers. New cashless trends According to recent statistics from Square, which is a global payment service provider, the percentage of cashless service providers have more than doubled in the United States, Australia, Canada, the United Kingdom, and Japan. A survey by Frost & Sullivan shows that 53% of consumers in the Asia-Pacific region shop online more often than they did before the Covid-19 pandemic broke out. It was also seen that almost 54% of consumers in Thailand, 57% consumers in Singapore, and 68% consumers in Malaysia shop online more often now, than they did during the years before the global Covid-19 pandemic. With the rise of e-commerce platforms, the use of …

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The city plans to be one of the five localities leading digital transformation in Vietnam by 2025. Hanoi is set to cover 5G in industrial parks (IP), high-tech parks, schools, hospitals, and tourist places, as well as research & development and innovation centers by 2030. Hanoi will continue to promote 5G commercial deployment. Photo: Vingroup It is the goal under a draft plan to develop telecommunications infrastructure for Hanoi's Digital Transformation Program to 2025 with a vision to 2030, which was approved by the Hanoi People’s Committee recently. The draft of the city’s Digital Transformation Program, submitted by the Hanoi Department of Information and Communication, highlighted by 2025 Hanoi would be one of the five cities and provinces taking the lead in digital transformation, information technology, competitiveness, innovation, and network security. "The city will become one of the top countries in Southeast Asia in data science and …

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EVFTA - A catalyst for Vietnamese businesses: diplomat The European Union-Vietnam Free Trade Agreement (EVFTA) has created a favourable corridor for trade between the two sides and brought new impetus to economic cooperation between Vietnam and the EU, Nguyen Van Thao, head of the Mission of Vietnam to the EU, has said. Thao, who is also Vietnamese Ambassador to Beligum and Luxembourg, told Vietnam New Agency in an interview on prospects for further promoting the EVFTA in the future. He said the agreement took effect on August 1 last yer at a hard time when EU countries were very heavily affected by the COVID-19 pandemic. This year, the pandemic has  continued to break out in Southeast Asian countries. Vietnam is not an exception. The country has also suffered big impacted by the pandemic. However, trade turnover between Vietnam and the EU still reached 50 billion USD last year, and grew by 4.5 percent in the last five months of 2020. This was an encouraging …

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Education and Training Minister Nguyễn Kim Sơn. Photo baochinhphu.vn Education and Training Minister Nguyễn Kim Sơn talks to the Government Portal about how the COVID-19 pandemic has impacted the education sector. What impact has the COVID-19 pandemic had on the education and training sector? It is true that the COVID-19 pandemic has caused disturbances and seriously affected the education and training industry. Due to the pandemic, schools had to switch to online teaching, students were not allowed to go to school, and their study plans were turned upside down. Therefore, it is very worrying that the quality of training may be affected and many problems have arisen because students have to stay at home for long periods of time. Especially for children at the primary school level, online learning causes many difficulties. Leaders of the education sector have considered many options to minimise the negative impact of the pandemic on education and training without …

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According to Le Group, in the first half of the year, the number of firms that ceased doing business was 59,800. However, over the same period, they also recorded the establishment of 78,300 new enterprises, an increase of 11.9 percent over the same period last year. Many have been, relative to the rest of the economy, quite successful. “It is easy to find businesses once doing well now in trouble because of the pandemic. However, it is also undeniable that many startups have grown stronger because their products and technology are suitable for the changes that the pandemic has made to the habits of consumers,” said Hung Tran, co-founder of Got It, an online platform that administers digital gift certificate programs for businesses. He believes that startups need to identify their core values as well as choose technologies that are suitable for what will be trending in the distant future instead of just solving current problems. COVID-19 had also presented an opportunity for …

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Honourable international award “collection” of Vietnam tourism Real estate firms aim to adapt and thrive in the “new normal” Vinhomes activates the “Happy Home” program for apartment owner – lessee connection at stage 2 Vinhomes to officially launch The Miami subdivision in Hanoi's west UNLOCKING THE SYNERGIES OF URBAN BRANDED RESIDENCES IN VIET NAM Nguyen Ho Nam, chairman of Bamboo Capital JSC, and Pham Minh Tuan, BCG Energy’s CEO, at the online signing ceremony to set up a joint venture for investing in rooftop solar and exploring other renewable energy sources in Vietnam with SP Group on July 30. SINGAPORE, VIETNAM — SP Group and BCG Energy Joint Stock Company, a wholly owned subsidiary of Bamboo Capital JSC, on August 2 announced the formalisation of a joint venture to invest in rooftop solar and explore other renewable energy projects in Vietnam. This partnership marks SP’s first joint venture in Vietnam. The JV, 51 per cent owned by BCG Energy and …

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Digital tools have facilitated the consumption of agricultural products across the country during the Covid-19 period. The first ten tons of avocados sold out in ten days via a Vietnamese e-commerce platform has made Le Thi Tuyet, a gardener in the Central region, changing her mindsets in trading, which is seen as “light at the end of the tunnel” when she has been struggling to overcome negative impacts caused by the Covid-19 outbreak for months. Tuyet comes from Krong Buk District, the Central Highland province of Dak Lak, where is well-known for many special fruits of Vietnam, especially long-shaped 034 avocados. Le Thi Tuyet's virtual store on Sendo.vn. Tuyet told The Hanoi Times that the volume sold at the traditional market was about one ton per month but intermediaries paid her only part of the total value and the remaining amount was paid later or even lost. "The price is much lower than the one sold on the Sendo e-commerce platform," she …

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At a session of the 15th National Assembly (Photo: VNA) The first session of the 15th National Assembly (NA) last Monday elected Vietnam’s new prime minister and new state president. It passed a resolution on re-electing Nguyen Xuan Phuc as state president, and another resolution on re-electing Pham Minh Chinh as prime minister, both for the 2021-2026 tenure. The Politburo members have held these positions since April 2021 (the 2016-2021 term). After the ballot, the new leaders took the oath of office under the flag and before the NA and constituents nationwide, vowing to “be completely faithful to the country, people, and the Constitution of the Socialist Republic of Vietnam,” and they will do their utmost “to accomplish all tasks assigned by the Party, the state, and the people.” Phuc, 67, received 100 per cent of all the 483 votes at the election to become the 11th president since 1945, when President Ho Chi Minh read the Declaration of Independence to establish the …

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