_Forming a digital Ministry of Agriculture and Rural Development _Establishing the digital agriculture _Creating digital rural areas with digital farmers. This process has lately been initiated successfully in the fields of cultivation, husbandry, aquaculture, forestry. Thanks to the ability to accelerate the elimination of ineffective traditional single farming models, the process is expected to promote the connection between 9 million farmer households with food processing enterprises as well as 100 million consumers nationwide, and further billions of international consumers. Using digital transformation, the Ministry of Agriculture and Rural Development wants to foster the application of advanced digital technologies among farmers and businesses taking part in agricultural activities. It should begin with modernizing cultivation methods to increase the values for all stakeholders in the ecosystem by providing more nutritious food for users worldwide. The transparency of … [Read more...] about Vietnam striving to develop digital agriculture
How competitiveness and trust in digital economies vary across the world
Japan’s GDP expands in Q2 after Covid curbs lifted
The world's third-largest economy grew 0.5% quarter-on-quarter due to stronger consumption and capital investment. While the country never imposed strict stay-at-home orders during the pandemic, the government in March lifted virus restrictions primarily targeting business opening hours. Inbound tourism remains limited to group tours, however, and the economy is facing headwinds — from the energy price crisis to fears of a global recession fueled by biting inflation. From April to June, private consumption grew 1.1% compared with the 0.3% registered in the January-March quarter, according to the data released by the Cabinet Office. Capital spending expanded 1.4%, compared with a 0.3% contraction in the previous quarter. "After the government lifted a quasi-state of emergency in late March, consumption of services showed a relatively strong rebound, while capital investment returned to growth after staying low for a while," BNP Paribas said in a note issued before the GDP data … [Read more...] about Japan’s GDP expands in Q2 after Covid curbs lifted
China unexpectedly cuts 2 key rates, withdraws cash from banking system
Economists and analysts said they believe Chinese authorities are keen to support the sluggish economy by allowing a widening policy divergence with other major economies that are raising interest rates aggressively. The People's Bank of China (PBOC) said it was lowering the rate on 400 billion yuan ($59.33 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points (bps) to 2.75%, from 2.85%. In a poll of 32 market watchers last week, all respondents had forecast the MLF rate would be left unchanged and 29 had predicted there would be a partial rollover. "The rate cut surprises us," said Xing Zhaopeng, senior China strategist at ANZ. "It should be a response to the weak credit data on Friday. The government remains cautious about growth and will not let go." New bank lending in China tumbled more than expected in July while broad credit growth slowed, as fresh Covid flare-ups, worries about jobs and a deepening property … [Read more...] about China unexpectedly cuts 2 key rates, withdraws cash from banking system
Vietnam, Laos enjoy 24.2% rise in two-way trade in 7 months
The office said that the major products Vietnam shipped to Laos included petrol, vegetables, fertilizers, clinker and cement, electric wires and cables, paper and paper products, ceramics, and garment products. Meanwhile, Vietnam mostly imported from Laos fertilizers, rubber, wood and furniture, ore and other minerals. In July alone, two-way trade hit USD 125 million, a surge of 54.1% year on year, including Vietnam’s export revenue of nearly USD 53.2 million, up 33.9%. This was the third consecutive month that Vietnam enjoyed an increase in exports to Laos, helping reduce the fall in the turnover to minus 1.6% from minus 6% in the first half of this year. In August, Vietnam expects continuous rise in exports to Laos thanks to the stable conditions of the Lao economy, the reduction in petrol prices in the world and the rising number of Vietnamese investors in Laos. Source: VNA … [Read more...] about Vietnam, Laos enjoy 24.2% rise in two-way trade in 7 months
Cashew industry urged to focus on markets with FTAs
Cashew exports saw two-digit drops in the first seven months of this year. — Photo baochinhphu.vn The cashew industry should focus on markets in which Viet Nam had signed trade deals to take advantage of preferential tariffs and expand exports as inflation had pushed up the prices of raw materials and forced people to tighten spending, according to the Viet Nam Cashew Association. Cashew exports saw two-digit drops in the first seven months. Statistics of the Import-Export Department under the Ministry of Industry and Trade showed that cashew exports were estimated at 294,000 tonnes, worth US$1.76 billion in January-July, dropping by 10.5 per cent in volume and 12.1 per cent in value against the same period last year. While the average export price increased by 1.45 per cent against the same period last year to $5,792 per tonne, the price of raw cashews rose by 15-20 per cent. The department predicted that cashew exports would continue to struggle in the third quarter due … [Read more...] about Cashew industry urged to focus on markets with FTAs
Facing up to some ugly truths about beauty contests
The proliferation of pageants in the country has become a recent topic of discussion/debate. People say that the sheer number of competitions has caused a drop in both the quality of the candidates and entertainment value. Comparisons have even been made to Thi No, a literary character famous for being the polar opposite of beauty in Nam Cao's "Chi Pheo." Over the years, I have come to believe firmly that today’s beauty contests, not just in Vietnam, are inherently flawed. While the concept of beauty pageants has existed for millennia in both the East and the West (known through the Greek myth "Judgment of Paris"), modern beauty pageants as we know them only truly began in America during the early 20th century. The first beauty pageant of the modern times was the Miss America Pageant in 1921. Besides the touted appreciation of female beauty, pageants were a major tourist attraction, enticing people to go to resorts and entertainment centers in America's beach cities at the time. … [Read more...] about Facing up to some ugly truths about beauty contests
Demand for logistics real estate increases sharply: Savills Vietnam
Nam Hai Dinh Vu Port in Hai Phong City. (Photo: VNA) This is one of the factors that make the demand for logistics real estate increase sharply, it said. A survey by Savills Vietnam showed that Vietnam's logistics industry is enjoying significant growth due to the development of the national economy, and the manufacturing and e-commerce sectors. According to a report on the emerging market logistics index released earlier this year by Agility, a leading logistics and transportation service provider in 2022, Vietnam ranks 11th among the world’s top 50 emerging markets, only behind Indonesia, Malaysia and Thailand in the Association of Southeast Asia Nations. Vietnam's transport and logistics market is estimated to grow at a compound annual growth rate (CAGR) of 7 percent in the 2021-2026 period. The Vietnamese government encourages enterprises manufacturing and attracts investment by establishing industrial and economic zones. Despite challenges from the Covid-19 pandemic, … [Read more...] about Demand for logistics real estate increases sharply: Savills Vietnam