General not for profit corporation act annual report

How can 5G and digital transformation impact the performance of industries such as manufacturing, logistics, agriculture and e-commerce over the coming years? Denis Brunetti, president of Ericsson in Vietnam, Myanmar, Cambodia and Laos As a critical digital national infrastructure, 5G has the potential to significantly transform society, industries, and the economy, as well as benefiting the environment. In the past, developing economies depended on traditional inputs to fuel growth, such as low-cost labour and natural resources. Moving forward, the new economy will increasingly depend on more sustainable inputs, such as science, technology and innovation, whereby data will become the new oil that creates as much as drives a more inclusive and sustainable socioeconomic development, securing broader range prosperity for all. Through 5G, the introduction of Industry 4.0 will be accelerated across thousands of factory floors in Vietnam, enabling robots, digital twin … [Read more...] about Going digital and green in partnership with Ericsson

Ministry of Planning and Investment Deputy Minister Tran Quoc Phuong This is the second year that VIR has organised the Conference on Digital Transformation to create opportunities for representatives of state management agencies, policymakers, experts, and both local and international tech enterprises to meet and exchange information. The National Digital Transformation Programme for 2025, with a vision to 2030, emphasised three main focus points, including digital government, digital economy, and digital society. According to the Ministry of Information and Communications, in 2022, the total revenue of Vietnam's IT and telecommunications (ICT) industry reached about $148 billion, and the digital economy reached 14.26 per cent of GDP. To achieve the goal that, by 2025, the digital economy will account for 20 per cent of GDP under its rapid development scenario, Vietnam needs to maintain average annual digital economic growth of about 20 per cent, more than three times … [Read more...] about Digital transformation – Faster, Smarter, and Greener

Lazada continues to offer new promotions to entice its customer base As one of the early e-commerce players in Vietnam, Lazada is at the forefront of technology to meet customers’ evolving demand. During the Birthday Sale Boom shopping festival in March, the company increased its investments in two new shopping channels, LazLook and LazBeauty, bringing a unique and sophisticated shopping experience to users. There are also myriad promotions for refunds and free shopping. At the same time, the Lazada Super Show virtual music festival has also been held. By integrating 360-degree AR technology, viewers were immersed in unique spaces at home. Meanwhile, the company also applies realistic AI and AR-powered Virtual Try-On to shoppers, enabling beauty lovers to instantly sample products with pictures or live videos of themselves before making a purchase. The moves are all part of attempts to be ahead of the e-commerce game in expectation of an explosion in growth. According to a … [Read more...] about Technology improvements at heart of Lazada’s legacy

The interest rate hikes by the US Federal Reserve and other central banks that began to significantly accelerate in the second half of 2022 have impacted the tech industry and investors in significant ways. These hikes are expected to continue, at least in the short term, until the central banks are satisfied that inflation is under control or lose their nerve. When that happens is anyone’s guess. Eric Johnson, counsel at Freshfields Bruckhaus Deringer LLP This rapidly changing financial environment has made it more difficult for digital economy companies, especially those that are currently not profitable, to raise money in both public and private markets. Many investors have adopted a wait-and-see approach until the situation becomes clearer, and are revisiting the assumptions behind the sky-high valuations that many tech companies previously commanded. The recent failure of Silicon Valley Bank in the US has sent a shockwave through the tech and venture capital … [Read more...] about Supporting the digital economy space

At the event "Vietnam Sports Glory" hosted by the Sports Administration under the Ministry of Culture, Sports and Tourism (MoCST), SABECO awarded VND230 million ($9,750) to 23 athletes in fields such as athletics, swimming, football, cycling, weightlifting, and wushu. The hope is for these young athletes to go on and achieve outstanding things in professional sport and bring glory to the country. The award is part of the "Vietnam Wins Gold" initiative that was implemented by the MoCST and SABECO last year to support the training and development of young athletes as they prepare for the SEA Games, and raise the profile of Vietnamese sport in general. The scheme is to spend VND5 billion ($212,000) to support key athletes in training and participating in international competitions. A total of VND750 million ($32,000) was awarded to 50 athletes selected by the General Department of Sports. The remaining support is expected to be disbursed by April this year to support athletes … [Read more...] about SABECO and Bia Saigon back Vietnamese athletes

This is therefore an opportune time for the hospitality and real estate industry to reflect on what has happened and discuss was to increase competitiveness in both regional and international markets. Entitled “Vietnam Hospitality and Real Estate - Time for a Level Up”, the Meet The Experts' conference will take place on March 30th in Ho Chi Minh City, with more than 40 of the industry’s leading experts discussing the latest trends and sharing industry insights. Some of the highlighted topics: Vietnam and regional market updates Megatrends and market changes - Unlocking opportunities Judging by numbers - Hotel profitability in ASEAN Real estate conversion in hospitality - Vietnam's potential Megatrends - Consumer experiences that create value Redefining luxury dining and F&B value in real estate Colour trends in interior architecture Lifestyle, boutique, and soft brand hotels - Vietnam's untapped opportunity Investment and development talks … [Read more...] about Hospitality and real estate experts to share their views

According to a report given at the VBF by the Korean Chamber of Business in Vietnam (KoCham), many factories currently have dorms on their campus for their expat workers. However, a new regulation in Decree 35 asks foreign workers to live in specially built accommodation areas within IZs. In other words, according to the new rules, developers have to set aside specific land in the complex to build accommodation for their expat workers, instead of them living in dorms within the factory campus. Notably, the decree stipulates that accommodation facilities within the complex are to be built in the service area of the complex and at a safe distance in accordance with related laws. The company must ensure security and order and not affect the production and business activities of other enterprises in the industrial park. Pursuant to Decree No. 35/2022/ND-CP, Dong Nai Industrial Zones Management Authority has issued an official letter of implementation of regulations on the residence of … [Read more...] about KoCham raises foreign workers residence issue at VBF

Climate change is an urgent problem for humanity in the 21 st century, and its importance was reinforced by the presence of 197 heads of state at the Climate Change Conference in Glasgow in 2021 (COP26). Vietnam has made strong commitments and issued its National Strategy on Climate Change for the period to 2050. Time for business action According to the World Bank, Vietnam is one of the most vulnerable countries to climate change. In 2020 alone, Vietnam has suffered a loss of $10 billion, equivalent to 3.2 per cent of GDP. Without a green transformation strategy, it is estimated that the nation could be losing 12-14 per cent of GDP every year by 2050. Green transformation describes the process of applying advanced processes and technologies to reshape business operations, ensuring economic growth, environmental sustainability, and social development. From an enterprise perspective, a common management solution is through a set of environmental, social and governance … [Read more...] about Net-Zero: Challenges and opportunities for Vietnamese businesses

Vietnam has recorded around 13,000 cases of dengue fever so far this year, about 2.3 times higher than the same period in 2022, according to the Ministry of Health. The rising numbers of cases have been recorded in mainly in central and southern localities, the General Department of Preventive Medicine reported. However, Hanoi has also not been spared. The capital’s Center for Disease Control (CDC) has recorded 172 dengue fever cases in 23 of 30 districts, a 20-fold increase from the same period last year. The health ministry said abnormal weather conditions have contributed to the rise in the number of cases. Normally dengue does not hit in such numbers until the rainy season. A surge in cases is expected soon as the country enters the rainy season, it added. On Monday, the ministry asked localities to ramp up environmental cleanup efforts to curb the spread of outbreaks. Medical facilities must ensure enough medicine and equipment to treat patients, it added. Vietnam … [Read more...] about Dengue fever hits before rains this year

A train of Viet Nam Railways. — Photo courtesy of VNR The railway sector is striving to escape losses and divest capital in many companies in 2023, the Committee for Management of State Capital at Enterprises said about the Project on Restructuring Viet Nam Railways (VNR) from 2021 to 2025. The project has identified and evaluated the achievements and limitations on the basis of a comprehensive assessment. The restructuring of VNR in 2016-2020 includes the production and business performance, the level of safety, security and defence, development and investment, science and technology and digital transformation. It also sets out goals and plans for the restructuring of the corporation in 2021-2025, aiming at innovation, improved corporate governance, effective exploitation of resources, and enhanced labour productivity. Additionally, VNR tries to achieve and exceed the targets assigned by competent authorities, fulfil the obligation to pay the State budget, ensure enough … [Read more...] about Railway sector sets plans to avoid losses this year