Vietnam needs additional 1 million ICT personnel by 2030 Demand for human resources for Information and Communications Technology (ICT) in general and artificial intelligence (AI) in particular in Vietnam has increased continuously and about 1 million more ICT personnel will be needed in the country by 2030, according to the Vietnam-Australia AI Network. In 2019, the total number of personnel working in Vietnam's ICT industry was about 970,000 people, of whom around 180,000 work for the software and digital content sectors and 1,600 are AI researchers (both domestic and foreign). At present, there are 50 universities that are training AI-related majors in Vietnam. The network said that during 2010-2018, Vietnam had 372 AI patent applications, ranking second in ASEAN. The number of scientific publications on AI raised from 134 in 2010 to 525 in 2018. Earlier, the Ministry of Science and Technology launched the Vietnam - Australia AI cooperation network, with the aim to help …
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VIETNAM BUSINESS NEWS SEPTEMBER 13
Banks on road for digital transformation The banking system and credit institutions are the lifeblood of the nation's economy, with digital information in banking and finance set to become one of the key factors in the digital economy, according to experts. The issue was discussed in an online forum “Digital Finance 2021” held by the Vietnam Financial Times last week. Addressing the online forum, Nguyen Viet Hung, deputy head of the Financial Informatics and Statistics Department, told participants that the digital economy, digital government and digital society were three key pillars that supported the national digital transformation programme. "Digital government helps the government operate more efficiently, effectively and transparently. The digital economy promotes innovation, creates new values, new growth engines and helps increase labour productivity. Digital society helps people have equal opportunities to services, training and knowledge, narrows the development gap …
NA Chairman hosts European business leaders on visit to Belgium
National Assembly Chairman Vuong Dinh Hue (right) speaks to a leader of the Netherlands' GC International. (Photo: VNA) Brussels (VNA) – National Assembly (NA) Chairman Vuong Dinh Hue hosted several business leaders of European corporations in Brussels on September 9 (local time) while he was on a working visit to Belgium. They are from wind farm developers Deme Group from Belgium and Ørsted from Denmark, and the Netherlands’ GC International . Deme Group is a renowned global player in dredging and land reclamation, solutions for the offshore energy market, infra marine and environmental works. The group has constructed a number of major infrastructure projects in Vietnam and is cooperating with Vietsovpetro company to develop the Vinh Phong offshore wind power project in the south central province of Binh Thuan. National Assembly Chairman Vuong Dinh Hue (right) meets with a representative from Belgium-based Deme Group. (Photo: VNA) Hue highly spoke of …
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VIETNAM BUSINESS NEWS SEPTEMBER 16
Foreign investors maintain confidence in Vietnam’s economy Vietnam attracted 14 billion USD in foreign direct investment (FDI) in the first eight months of this year, only 2 percent lower than the same period last year, showing foreign investors’ confidence in Vietnam’s economic scenario in mid-and long terms. Of the investment capital, up to 11.7 percent has been disbursed, up 2 percent as compared with the corresponding time last year. In August alone, 2.4 billion USD was registered, up 65 percent from the previous month, mainly additional capital injected into the processing and manufacturing industry. However, this month’s FDI disbursement dropped 14.3 percent against July and 12.2 percent year-on-year as the social distancing order has been imposed in major economic centres. Budget collection in August also went up 13.9 percent while total spending reduced 5.9 percent year-on-year. According to the World Bank, Vietnam’s economic recovery in the fourth quarter will …
VIETNAM BUSINESS NEWS SEPTEMBER 12
Vietnam continues to be attractive investment destination: HSBC The Vietnamese market will remain an attractive investment destination for foreign investors moving forward, the Hong Kong Shanghai Banking Corporation (HSBC) Vietnam said in its monthly macroeconomic update for September 2021. The bank cites statistics from the Vietnam Leather, Footwear and Handbag Association (LEFASO), noting more than 30% of garment makers have suspended production, prompting garment exports to drop by 4.5% in August compared to the previous month. Notably, Vietnam’s leather and footwear industry currently makes up 15% of the world’s market share, a two-fold increase during the past 10 years. Vietnam is also one of the world’s largest textile and garment makers, just behind China and Bangladesh. However, Vietnamese exports of mobile devices and components recorded a sharp increase in August, achieving an annual growth rate of 11%. Meanwhile, exports of computers and electronic products also …
VIETNAM BUSINESS NEWS SEPTEMBER 18
Digital transformation plays a vital role in agricultural development To achieve ambitions to become a modern-oriented industrialised nation by 2030 and a developed country with high income by 2045, Viet Nam must succeed in the digital transformation process, in which agriculture is one of the priority areas, Minister of Foreign Affairs Bui Thanh Son said. Minister Son gave the statement at the Vietnam Agricultural Digital Transformation International Forum 2021, themed “Keeping up with market trends, ensuring the pivotal role of the economy during and after the COVID-19 pandemic.” which was held virtually on Thursday by the Ministry of Foreign Affairs (MOFA), the Vietnam Digital Agriculture Association (VIDA), and e-newspaper VnExpress. The forum is a place for dialogue and public-private policy activities between the Government, private sector and stakeholders. It was also an activity within the framework of the Vietnam International Agricultural Exhibition 2021 (AgriTech Expo …
VIETNAM BUSINESS NEWS SEPTEMBER 9
Wood exports plummet as amid virus outbreak Wood production and exports have hit a slump in recent months after showing strong numbers during the first half of the year, according to a report by the Ministry of Agriculture and Rural Development (MARD). The country exported US$8.71 billion worth of wood products in the first half of 2021, a 62.9 per cent increase year-on-year. However, the sector has been hard hit by yet another outbreak of the virus. The virus has paralysed some of the largest production centres of the industry including the southern provinces of Binh Duong and Dong Nai, said Bui Chinh Nghia, deputy head of MARD's department of forestry. "We have seen significant drops in wood exports in recent months. Exports for June, July and August dropped by 16 per cent compared to the previous three-month period. August saw the biggest drop at 22 per cent compared to July," said Nghia. More than half of the country's wood producers have had to shutter or scale down …
VIETNAM BUSINESS NEWS SEPTEMBER 11
Hanoi tax authorities collect taxes from Google and Apple content developers The Hanoi Department of Taxation have collected over VND39 billion (USD1.69 million) from content developers on Google and Apple during the first seven months of this year. The Hanoi Department of Taxation have collected over VND39 billion (USD1.69 million) from content developers on Google and Apple during the first seven months of 2021. Illustrative photo According to the department, they have collected taxes from 392 people that provide content services on various applications including Google Play and Apple Store. The department have collected VND 203 billion (USD8.83 million) in taxes from these content developers since 2018. The municipal tax authorities are also seeking to collect more taxes from online businesses. They are checking on the information of 32,085 businesses that are using online delivery services and 756 housing rental businesses. The department has co-operated with banks and …
E-commerce turns small businesses into big cross-border traders
Many business owners have found major partners after joining international B2B marketplaces. Vihaba is a small and medium enterprise that exports and distributes agricultural products, handicrafts and garments. Since the enterprise began selling products on Alibaba, its revenue has increased by 55 percent over the last two years. Vietnam’s products are exported to many big markets, including the EU, US, the Middle East and Southeast Asia, thanks to the e-commerce platform. A representative of the company said the company makes the most of the e-commerce platform to effectively manage clients and improve the advertisement of products. DSW received orders soon after entering Alibaba. Its CEO Tran Thi Yen Phi said since the day of getting the first order worth $3,000, the company’s export turnover reached $400,000 a month. Ten percent of that comes from the contracts it gets via Alibaba. DSW has expanded its business scale, exporting products to 10 markets, while its staff …
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Reopening poses challenges for southern businesses
Wood furniture maker Happy Furniture in Dong Nai Province is struggling to recruit enough employees to resume operation. "Most candidates are those who have suffered heavily because of the pandemic," said said Le Xuan Tan, member of the director’s board. "If they could, they would prefer to stay in their hometowns and wait for the outbreak to be completely contained." Many candidates test Covid-19 positive and therefore cannot be recruited. The company has around 20 percent of its employees yet to be vaccinated due to health issues, and therefore it does not want to risk bringing the virus from outside. An organic rice producer in Ho Chi Minh City’s District 7 is facing a similar plight amid staff shortages after seeing half its employees, or 40 people, contract the novel coronavirus in June. Looking for new staff has been challenging, as people do not want to be forced to stay at the company as the city requires, said a spokesperson. In three recruitment sessions, the …
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