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Digital growth chart

/ March 2, 2021

Shopkeepers, petty merchants go digital

Amid the Covid-19 pandemic, after 20 years of trading goods in traditional way, shopkeepers and petty merchants have begun to sell products online. Dung, the owner of a grocery in Thanh Cong Market in Hanoi, said: “Buyers now just stay at home and place orders with their smartphones to get products at their home." Dung shifted to a new online sale method one year ago. Online petty merchants are informed about orders via app and prepare the goods before delivery people come and take them away. Online payment is used for many orders. Thuy, a petty merchant in Hoang Mai district in Hanoi, said at first she hesitated to sell goods online. “I felt worried because I had to deliver goods before getting payment,” she explained. However, Thuy said she has no other choice. If she doesn’t accept this, she will lose customers. At present, online sales just account for 30 percent of total revenue, but she believes the figure will be higher in the future. Tam, the owner of a store in Linh Dam new urban area in Hanoi, who introduced herself as an "older woman who hesitated to use a smartphone" has also made a decision on renovating her business and now uses high technology in store management. Now Tam can place orders for products via apps with her smartphone directly with manufacturers. “Products go directly from producers to retail points, thus ensuring the best quality of products,” she said. Dung, Thuy and Tam are among the owners of 1.4 million groceries and 9,000 traditional markets with total revenue of $10 billion a year in Vietnam, accounting for 75 percent of market share, according to Nielsen. “Traditional markets and groceries are facing stiff competition,” Dung said. “The business has been going downhill. People don’t go to traditional markets now." Instead of going to markets, customers now order products online and get deliveries at home. Changing the way of thinking Nguyen Thai Hai Van, CEO of Grab Vietnam, said that Covid-19 has …

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/ February 27, 2021

HCM City zeroes in on becoming regional AI hub

Vice Chairman of the HCM City People’s Committee Duong Anh Duc has signed a programme on artificial intelligence (AI) research and development in the city for the 2020-2030 period. An aerial view of HCM City (Photo: Vietnamnet) It aims to make the city a hub for AI research, implementation, and technology transfer in Vietnam and among the leading such facilities in Southeast Asia at large. Nine projects and tasks will be carried out to 2030, with a detailed timeline. AI is hoped to play a major role in building innovative urban areas and smart city development in the southern metropolis, facilitating sustainable economic growth. HCM City aims to complete a portal for AI solutions and conduct a survey on demand for the application and development of the technology during 2021-2022. AI is hoped to play a major role in building innovative urban areas and smart city development in the southern metropolis (Photo: Barrons.com) It has set a target of concluding projects on building digital infrastructure and AI-related policies, and establishing centres for AI research, technology transfer, and human resources between 2021 and 2025. A day for information technology and AI businesses will be assigned in the time to come. The HCM City Department of Information and Communications will be coordinator of the programme, whose budget will come from the city and sectors in science-technology, along with social sources./.VNA …

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/ March 1, 2021

Bilateral trade between UK and Vietnam surges thanks to UKVFTA

The Hanoitimes - The initial results of the UK-Vietnam Free Trade Agreement promise to continue creating new impetus for economic and trade cooperation between the two countries in the coming time. Since the UK-Vietnam Free Trade Agreement (UKVFTA) took effect on January 1, the bilateral trade turnover between the two countries has recorded a spectacular rise in the context of exports disruption due to the Covid-19 pandemic, according to the Ministry of Industry and Trade. Vietnamese rice exports to EU. Photo: Vinaseed According to the General Department of Vietnam Customs, in January, the total trade turnover between Vietnam and the UK reached US$657.3 million, up 78.6% over the same period last year. Vietnam's exports to the UK reached US$598 million worth of goods, up 84.6% compared to last January and 56.5% to last December. Among Vietnam's exports to the UK,  farm produce attained stable and positive growth in January, with seafood reaching US$19.7 million, representing a rise of 18.1% over the same period last year, and vegetables and fruits with US$1 million, increasing 148.6%. Chart: Phi Nhat Vietnamese shipments to the UK get opportunities to rise drastically and expand market share thanks to many tariff preferential treatment under the agreement, according to the MoIT. Under the trade deal, more than 94% of the total 547 tariff lines of vegetable and fruit will be reduced to zero. Many Vietnamese key products such as litchi, longan, rambutan, dragon fruit, pineapple and melon will have more market access advantages over tropical fruits originating from rivals such as Brazil, Thailand and Malaysia, the countries that have not signed an FTA with the UK. Chart: Phi Nhat Shipments of the group of processing and manufacturing industries to the UK achieved an impressive growth in January such as phones and components (up 371.6% over the same period last year), followed by …

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