After revision, Vietnam’s GDP grew an average of 25.4% annually in the 2010 – 2017 period, in which 2011 recorded the highest growth rate of 27.3%. Vietnam’s GDP in 2017 is estimated at VND6,294 trillion (US$272.77 billion) after revision, representing an increase of VND1,300 trillion (US$56.34 billion) against the previous figure of VND5,006 trillion (US$216.95 billion), according to the General Statistics Office (GSO). This would result in revised GDP per capita of US$2,985, higher than the preceding number of US$2,343, stated the GSO in a statement announcing the result of GDP revision in the 2010 – 2017 period held Friday. As a result, Vietnam’s GDP grew an average of 25.4% annually in 2010 – 2017, in which 2011 recorded the highest growth rate of 27.3% and 2015 grew the lowest rate of 23.8%. Among economic sectors, services posted the highest growth rates after revision with an additional increase of VND316 – 615 trillion (US$13.68 … [Read more...] about Vietnam 2017 GDP expands US$56 billion after revision
Instincts personal performance product review
ICT contest in HCMC honors practical ideas for smart city development
This year’s HCMC ICT Contest is themed ‘Journey to a Smart City’ and was launched in August 2019. Until October 31, 2019, it received 65 papers, which were carefully evaluated in November for the awards ceremony to be held in December 2019. Many of these papers are from state organizations and in the fields of digital transformation, Internet of Things, smart operation, and practical applications for citizens. According to Deputy Director Le Quoc Cuong, among the 16 submitted papers of 12 enterprises in the first category of ‘Business with Outstanding Software Product’, the contest prioritizes domestic research results, those in the list of the key product program, and ideas to directly contribute to smart city establishment or solutions to the city’s current issues. Certain prominent candidates are the document administration system Doceye, the school management software, the integrated library management software Lac Viet Vebrary, and the … [Read more...] about ICT contest in HCMC honors practical ideas for smart city development
The costly competition in the retail industry
Foreign retailers, from Metro, Auchan, Casino Group to Parkson, have had to leave Vietnam because they did not understand the market well. Nguyen Anh Duc, deputy general director of Saigon Co-op, said he once criticized Co-opmart SCA Hanoi, a branch of Saigon Co-op, because the supermarket displayed old bananas for sale on inauguration day. Foreign retailers, from Metro, Auchan, Casino Group to Parkson, have had to leave Vietnam because they did not understand the market well. Localization means gathering the tastes and shopping needs of local consumers to build up a list of products for supply that can satisfy needs. Personalization is understanding shopping culture and demands for experience during the shopping process in order to offer new creative shopping models to attract customers. Nearly 2,600 supermarkets and sale points in 50 provinces/cities throughout the country and the data about 8 million customers are the important factors for VinCommerce to build a strategy. … [Read more...] about The costly competition in the retail industry