Shifting diets for a sustainable food future

A bakery and coffee shop in HCM City. The Vietnamese food and beverage industry is expected to grow by 18 per cent this year. — Photo By Thu Ngan The food and beverage market is forecast to grow by over 18 per cent this year to VND720 trillion (US$31 billion). A recent report by iPOS.vn said that, after an impressive rebound in 2022, the F&B industry is poised to achieve “sustainable growth”. It predicted the market to top VND938 trillion ($40 billion) by 2026. It expected big players to push strongly this year to gain market share but smaller ones to exercise caution since the economic difficulties would continue in 2023. New brands like Phe La and Katinat Saigon Kafe would enter, it said. It forecast some business models to struggle in 2023, including food delivery because sellers would have to reduce their prices to be competitive. The model developed strongly when the COVID-19 pandemic hit. A representative of Golden Trust, a company in food and beverage … [Read more...] about Food and beverage industry to do well this year despite modest economy

Demand for fresh foods increases ahead of the Ram Thang Gieng (the first full moon of the lunar year) as usual, but market prices have barely changed. The upcoming celebration of Ram Thang Gieng (the full moon of the first lunar month) marks a strong increase in demand for fresh food in the market, but prices have remained stable. People buy fruits at a traditional market in Hanoi to prepare dishes for the celebration of the first full moon in the lunar year. Photo: Hoai Nam/The Hanoi Times The first full moon of the lunar year falls on the 15th day of the first lunar month. On that day, Vietnamese prepare some dishes in honor of the gods, Buddha, and ancestors, and pray for the happiness, luck, and prosperity of their relatives. In 2023, Ram Thang Gieng falls on January 4. Given such meaning,  demand for fresh and good quality food before and during the day tends to increase. In 2023, however, prices for raw and fresh foods are virtually unchanged … [Read more...] about Food prices rise slightly ahead of first full moon

And while Amazon's holiday revenue beat Wall Street's expectations, the company believes sales growth in its long-lucrative cloud business will slow for the next few quarters, its chief financial officer told reporters. Shares fell 5% in after-hours trade, erasing most of their 7% gain before the market's close Thursday. Making a rare appearance on Amazon's quarterly call with financial analysts, Chief Executive Andy Jassy said "virtually every enterprise" was treading carefully on cloud and other costs in light of economic uncertainty. "We're going to help our customers find a way to spend less money," he said. "We're trying to build a set of relationships in business that outlasts all of us." Facing high inflation and recession fears, Jassy has embarked on extensive cost-cutting inside Amazon as well. Last month, the online retailer said more than 18,000 employees particularly in its commerce and human resources divisions would lose their jobs. It booked a $640 million … [Read more...] about Amazon’s outlook disappoints as customer budgets stay tight

Officials of Mong Cai and Dongxing cities at a ceremony marking the 93rd founding anniversary of the Communist Party of Vietnam on February 2 (Photo: VNA) Quang Ninh (VNA) – A delegation of the Communist Party of China (CPC) Committee of Dongxing city in the Guangxi Zhuang Autonomous Region of China on February 2 visited Mong Cai city in Vietnam's northeastern border province of Quang Ninh to attend activities marking the 93rd founding anniversary of the Communist Party of Vietnam (CPV). This was the first in-person exchange between Dongxing and Mong Cai after a nearly-three-year hiatus caused by the COVID-19 pandemic. Secretary of the Dongxing CPC Committee Peng Shaoguan offered congratulations on the CPV’s 93rd anniversary (February 3, 1930 - 2023) and presented gifts to the CPV organisation, administration, and people of Mong Cai. He expressed his wish for continued enhancement of comprehensive and sustainable cooperation between the two localities and their … [Read more...] about Dongxing delegation visits Mong Cai to attend CPV’s 93rd anniversary celebrations

Illustrative image (Photo source: CNA) Bangkok - Thailand's capital city of Bangkok has kicked off a project to offer space free of charge for hawkers and street vendors in the heart of the city in a bid to clear cluttered pavements. The project named "Hello Hab-Re" (Hello hawkers) is piloted outside the Samyan Mitrtown mixed-use shopping complex on Rama IV Road. It will reorganise hawkers and street vendors in the city by allocating suitable areas that do not block public footpaths. The operator of the complex has agreed to provide space next to its building for registered vendors to use for free from Monday to Friday, 8am-2pm and 3pm-8pm. Chairing the launch ceremony, Governor of Bangkok Chadchart Sittipunt thanked the operator of Samyan Mitrtown for providing the space, saying it would increase shopping opportunities, promote small entrepreneurs, and help tidy up the city. He said he hoped more private property owners would join the project in the future. According to … [Read more...] about Thailand’s capital pilots free space for street hawkers