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A tomato farm in Don Duong district, Lam Dong province, joining the platform of Koina (Photo courtesy of Koina) HCM City (VNA) – VinaCapital Ventures, a technology-focused venture capital fund of the Ho Chi Minh City-based VinaCaptial Group , has announced an investment of 1 million USD into Koina, an agritech startup founded in Vietnam. The investment from VinaCapital Ventures is part of Koina’s seed fundraising round. Koina, established in 2021, aims to build a large and efficient agricultural ecosystem in Vietnam by connecting farmers with financial organisations, suppliers, and retailers. Its “Farmer Platform” is intended to help farmers access loans, publicise prices, and give guidance on good agricultural practices. Thi Nguyen, co-founder and Chairman of Koina, said the funding from VinaCapital Ventures will help his firm expand sales channels and increase investment in technology to control quality and boost the value of agricultural products of Vietnam. … [Read more...] about VinaCapital Ventures pours 1 million USD into agritech startup

Dat Tong, Senior market strategist, Exness With financial turmoil on the rise around the world, many traders are looking to gold as a safe-haven asset. Gold has been on the rise lately, approaching its all-time high in August 2020 (see chart). The 2009 recession boosted gold trading volume and by 2011, XAUUSD reached a high level at $1,823. As world economies recovered, fiat currencies regained strength and gold prices fell throughout 2013-2014. The downtrend bottomed out at $1,061 in 2015, before starting to ascend. Gold prices rebounded in 2019 as the pandemic ravaged countries, reaching $1,974. Is gold still a safe-haven asset? During difficult economic times, gold price tends to increase. This makes gold a good investment for those looking to protect their assets in uncertain times. Gold can act as a hedge against inflation. When inflation increases, XAU usually increases as well. Scarcity is in gold’s nature, which is another reason why experts consider gold a good … [Read more...] about Exploring the aspects of global gold performance

Responsible and Sustainable direction giving wings to Vietnamese tourism development The survey results also indicate that up to 57 per cent of respondents said that they have had a different thought about tourism is done, especially because it is related to the local economy, community, culture, and environment. Responsible and sustainable tourism is becoming more important, and the needs and preferences of tourists is also changing. Instead of noisy and prosperous tourist destinations, many people are looking for peaceful countryside and experiences of discovery, close to nature and good for health, in accordance with the projects on development of national parks and protected areas in Vietnam. Among the sustainable tourism models often mentioned in recent years, models that focus on exploiting simple and healthy natural experiences such as agritourism, farmstay, or glamping are special models to attract the attention of both tourists and investors. As a model of farm … [Read more...] about Responsible and sustainable direction giving wings to Vietnamese tourism development

HSBC predicted in its latest report on Vietnam’s economy that the Southeast Asian country will see a recovery of the number of Chinese visitors by 50-80 percent in 2023 compared to the pre-pandemic volume. In other words, Vietnam is set to welcome three to 4.5 million Chinese tourists this year. The increasing return of Chinese tourists following China’s border reopening on January 8 will notably contribute to the growth of Vietnam’s tourism, which can be a key sector for the latter in 2023, offsetting the decline in trading and manufacturing, according to HSBC experts. In a broader view, the experts believe that the Vietnamese economy will witness a shift from goods to services, which they consider a driver for economic stability despite the trade slowdown. Red represents Chinese tourists as a percentage of the total number of international visitors to countries in Southeast Asia. After Vietnam resumed inbound and outbound tourism in March 2022, its domestic … [Read more...] about Chinese visitors to Vietnam to reach 3-4.5 million in 2023: HSBC

According to chairman of the Vietnam Real Estate Brokers Association Nguyen Van Dinh, Vietnam’s real estate market is not repeating the crisis cycle which occurred in 2012. Varying factors to determine the fate of real estate, photo baodautu.vn “Currently, urban development is high and infrastructure investment is taking place strongly, along with the rocketing increase demand for housing. So the demand for investment in real estate is rather high. These are the factors that create a great motivation for the market’s ability to recover,” Dinh told VIR. Banking and finance expert Can Van Luc added that the market will be revived by the end of the year. “When banks have new credit room, real estate will see more transactions from homebuyers. Real demand is expected to be a bright spot during the year,” Luc said at a forum on forecasting the real estate market organised by the Vietnam Real Estate Association in Hanoi on January 3. Do Thu Hang, senior director of … [Read more...] about Varying factors to determine the fate of real estate

Inflationary pressure for Vietnam's economy in 2023 is high and comes from many factors, he said in an interview with the Vietnam News Agency (VNA). The demand-pull and cost-push inflation will put pressure on the country's efforts to control inflation amid surging demand and strengthening of the U.S. dollar which yields increased import prices. Demand for petrol and electricity – the two important commodities for production and consumption – will increase in 2023. The domestic electricity price has been kept unchanged for the past few years, while the price of coal and gas used in the production of electricity has increased, he said, noting that thermal and gas power account for a large proportion of the total generated electricity. Therefore, it is forecasted that the Government may raise the price of electricity this year. A hike in electricity prices will put pressure on inflation by increasing production costs and consumer spending, and at the same time reducing economic … [Read more...] about Vietnam faces inflationary pressure in 2023: expert

Dr. Pham Nguyen Anh Huy - Founder, RMIT FinTech-Crypto Hub Many crypto projects, especially GameFi, move-to-earn, the metaverse, and Web3, were launched in such an environment which helped boost national innovation and drive the digital economy. However, the lack of a regulatory framework has led to several issues, such as the lack of investor protection if they get scammed; the difficulty of tracing crypto-related fraudulent and criminal activities such as money laundering; a volatile business environment; and the inability of the tax authority to collect taxes from crypto-related activities. Eventually, these issues may dampen market confidence and make Vietnam less attractive, especially when the hype is over. Given the get-rich-quick mindset of most Vietnamese crypto investors coupled with the lack of a regulatory framework, it is not surprising that Vietnam is one of the most active crypto trading hubs in the world, ranking second in peer-to-peer exchange trade volume … [Read more...] about Regulatory framework needed to boost Vietnam’s crypto scene

Vietnam is enjoying global rice price rises as local exporters are receiving more orders. Vietnam's rice export prices hit two-year high. Illustrative photo The export price of Vietnamese rice on February 5 increased by USD15 per tonne compared to last month, with broken rice prices reaching USD453-473 per tonne, the highest level recorded over the past two years. However, prices were still lower by USD 20 and USD 10 compared to that of Thai and Pakistani rice, respectively. Last December, Vietnamese broken rice enjoyed the world's highest prices, ranging between USD 418-438 per tonne, about USD 20 higher than Thai rice. According to Do Ha Nam, vice chairman of the Vietnam Food Association, rice prices are rising in the first months of 2023 due to the prolonged Ukraine War and the world's fluctuating socio-economic situation. "Some of our big customers including China, the Philippines, and some African countries made larger orders," Nam said. "The … [Read more...] about Vietnam’s rice export prices hit two-year high

As of the Kanagawa Festival in Hanoi, its latest holding last year has left good imprints on the locals and Vietnamese people. Hanoi will continue tightening relationships with Japanese localities including Kanagawa, focusing on the development of economic and cultural exchange, educational cooperation, and manpower training, among others. Deputy Chairman of Hanoi People’s Committee Nguyen Doan Toan stressed the idea when receiving Governor of Kanagawa prefecture Yuji Kuroiwa on November 11. The meeting also saw the attendance of Umeda Kunio, Ambassador of Japan to Vietnam. At the meeting, the two sides discussed the organization of the Kanagawa Festival in Hanoi this year and the orientations of cooperation between the Vietnamese and Japanese localities in the coming time. According to Hanoi’s deput mayor, the city is currently on a very strong development momentum, to which many Japan – Vietnam cooperation projects have contributed a great deal. Deputy … [Read more...] about Hanoi looks to tighten cooperation with Japanese locality

Producing wooden furniture for export at Trieu Phu Loc Furniture Co., Ltd, Tan Uyen town, Binh Duong province (Photo: VNA) Hanoi (VNS/VNA) - Wooden furniture exports from Southeast Asian markets to Australia grew sharply in the past year, with Vietnam leading the way on 205.6 million USD, up 26.4% year-on-year. Vietnam is followed Malaysia with 101.9 million USD and Indonesia with 61.7 million USD. The proportion of wooden furniture imports from these three markets accounted for 22.9% of the total value of wooden furniture imports into Australia. The Import-Export Department, Ministry of Industry and Trade, quoted statistics from the General Department of Customs saying that the export value of wooden office furniture reached 28.4 million USD in December, a year-on-year decline of 28.6%. The export value of wooden office furniture reached 370.3 million USD last year, down 15.9% over the same period in 2021. In the structure of wooden furniture exports last year, … [Read more...] about Vietnam leads Southeast Asia in wooden furniture exports to Australia