Vietnamese cloud computing market

A production line at the The Ky Yarn Joint Stock Company (Photo: VNA) HCM City (VNS/VNA) - The textile and apparel industry , which managed to survive three waves of COVID-19 thanks to its decision to produce face masks and personal protective equipment, will focus on sportswear and yarn, according to the Vietnam National Textile and Garment Group . Le Tien Truong, its general director, said demand for face masks and personal protective equipment will shrink rapidly. Armed with their experience of coping with the pandemic, many textile and footwear enterprises are quietly confident of altering plans when required and finding new markets to cope with new situation after COVID-19 is under control. Sportswear has arguably been the most successful segment during the pandemic as awareness of physical exercise rose. According to Euromonitor International, in 2020 the demand for sportswear world-wide decreased only about 8 percent, the lowest in an industry which saw an overall decline of 16 percent. The compounded annual growth rate for the sportswear market in the last five years was 6.5 percent, 1.5 times the industry average, and it is expected to be worth 479 billion USD globally by 2025. The Thanh Cong Textile Garment Investment Trading JSC is considered one of the most successful businesses in 2020 thanks to seizing opportunities to export COVID-19 related apparel products such as fabric masks and PPE. But Tran Nhu Tung, its deputy general director, said the demand for cloth masks and protective gear is returning to pre-COVID levels with the advent of vaccines. This year his company has stopped taking orders for medical protective gear and antibacterial masks. It is focusing on traditional products such as T-shirts and sportswear, demand for which would continue to increase, and there are already enough orders for sportswear for the first 6 months of the year, he said. According to the Vietnam Textile and Apparel Association, …

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As 2020 is coming to end, how do you evaluate the development of businesses that received recognition during the Vietnam Value Programme? Vu Ba Phu, director general of the Trade Promotion Agency under the Ministry of Industry and Trade After 17 years of running the programme with seven times choosing national brands, we have witnessed the continuous growth of many domestic enterprises. At the first selection in 2008, we saw only 30 chosen companies with their products. By 2018, this number had grown to 97, and this year we have recorded 124 enterprises and their brands. However, the growth of the business community has not only happened in the number of participating businesses, but also export turnover, sales, and their contribution to the state budget, as well as their efforts in social responsibility and job creation. For example, firms recognised as national brands in 2018 reached a revenue of about VND907 trillion ($39.4 billion), with their export turnover amounting to VND130 trillion ($5.6 billion), contributing VND85 trillion ($3.7 billion) to the state budget and creating 340,000 jobs. Meanwhile, in this year, these numbers have climbed to VND975 trillion ($42.4 billion) and VND123 trillion ($5.34 billion) in 2020, respectively, with contributions to the state budget amounting to VND197 trillion ($8.5 billion) and 350,000 new jobs created – all this despite the pandemic. What are the main differences between the 2020 programme and previous years’ iterations? This year has been a special one as most of the businesses were affected by the health crisis, even making it difficult for the organisers of the Vietnam Value Programme to obtain applications, organise conferences, and disseminate information. Facing these circumstances, the Ministry of Industry and Trade (MoIT) responded quickly and directed our Trade Promotion Agency (VIETRADE) to coordinate with relevant ministries and localities to implement online procedures for the …

[Read more...] about Initiative’s success helped by quick response to pandemic

Much of Vietnam Airlines’ fleet has been grounded due to the pandemic According to Le Hong Ha, deputy general director of Vietnam Airlines, the carrier has been fully aware of its responsibility to preserve and develop its products and services to both maintain the economic vein of the country and promote its golden lotus logo to bolster Vietnamese aviation and promote the nation’s culture and tourism across the world. As a bridge between regions and the world, Vietnam Airlines is committed to maximising its potentials to support domestic businesses in delivering their products to not only customers all over the country but also to numerous international friends. In 2020, Vietnam Airlines has been reaffirming its position as the top-quality airline of the nation and continuously maintained its 4-star services according to international standards. At the emergence of the pandemic, the carrier immediately applied distinct solutions to ensure safety for passengers, such as limiting reusable items, disinfecting aircraft, and providing sterile towels on flights. However, Vietnam Airlines has not been able to avoid business risks caused by the pandemic. After successfully reducing the spread of the disease, in the second quarter customers began to again pay for air services, while the company sought to generate crucial revenue from inland services. Hopes were high that the third quarter would be the time to make up for the initial losses of the year, but as the next wave of new infections hit, any expectations of recouping revenue had been diminished. As a result, half of the 217 aircraft flying under the five brands under Vietnam Airlines’ patronage were grounded as nobody wanted to fly anymore. Ticket prices decreased by more than 50 per cent compared to last year. Dang Ngoc Hoa, chairman of Vietnam Airlines, also noticed that “a lot of complications arose from the airline’s status as a state-owned enterprise and the state’s intervention in the aviation …

[Read more...] about Flexibility necessary for airlines to prosper