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
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FDI hoped to help realty market develop sustainably in long term
The real estate sector was at second position in FDI attraction in Vietnam last year. (Photo: baodautu.vn) Hanoi (VNA) – Vietnam’s real estate sector last year attracted an additional 1.85 billion USD in foreign direct investment (FDI), retaining its second place among industries drawing FDI with combined investment of 4.45 billion USD, accounting for 16.1% of the total FDI poured into the country, according to the Ministry of Construction. real estate enterprises, helping to promote the sustainable growth of the market in the long term. Phu My Hung Urban Area in Ho Chi Minh City. (Photo: VNA) According to the General Statistics Office, from the beginning of this year to January 20, 2023, the total registered FDI capital in Vietnam reached 1.69 billion USD. VNA … [Read more...] about FDI hoped to help realty market develop sustainably in long term
Food prices rise slightly ahead of first full moon
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
Viet Nam, Netherlands eye further cooperation in sustainable development
Pineapple processing at Dong Giao Foodstuff Export JSC in the northern province of Ninh Binh. Agriculture plays a pivotal role in the economies of Viet Nam and the Netherlands and is deeply imprinted in the culture and people of the two countries. — VNA/VNS Photo Thuy Dung Due to their similar geographical features and advantages, the Viet Nam and the Netherlands have increased their sustainable development partnership in agriculture, water management, and climate change adaptation, said Ambassador of the Netherlands to Viet Nam Kees van Baar. Agriculture plays a pivotal role in the economies of Viet Nam and the Netherlands and is deeply imprinted in the culture and people of the two countries, the diplomat told Dau tu (Vietnam Investment Review). Close co-operation between the two sides has resulted in new visions and the blooming of business cooperation, with a growing number of the Netherlands' companies doing business and investing in Viet Nam. The Netherlands is the … [Read more...] about Viet Nam, Netherlands eye further cooperation in sustainable development
PM chairs monthly teleconference with localities
At the event (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on February 2 asked the Government, ministries, agencies and localities to boost production and trade, deal with difficulties to be faced by businesses and people this month to achieve rapid and sustainable socio-economic development. Chairing the Government’s monthly teleconference with localities, PM Chinh said since the beginning of this year, the Government has followed the Party Central Committee’s conclusions, the National Assembly and Government’s resolutions and Party General Secretary Nguyen Phu Trong’s directions on 2023 socio-economic development. Ministries, agencies and localities have also drastically performed their assigned tasks. In January, macro-economic situation was basically stable. The consumer price index rose by 0.52% month-on-month and 4.89% year-on-year. As of January 17, credit growth hit 0.65% compared to the end of last year, meeting public demand before and during the … [Read more...] about PM chairs monthly teleconference with localities
Vietnam among world’s best places for budget honeymoon: Lonely Planet
It advised tourists to visit Vietnam outside of the peak summer travel season in July and August to find budget-friendly accommodation. The magazine recommended travelers to try the country's signature dishes: beef pho , bun cha (barbecued pork with rice noodles) and banh mi (baguette). "Expect to eat like royalty even when you're on a budget in Vietnam – it’s street-food heaven." Bun cha and pho costs around VND50,000-80,000 (US$2.13-3.41) in Vietnam and banh mi around VND15,000. A cruise tour through limestone karst mountains in the world heritage site Ha Long Bay or a cycle tour through ancient houses with yellow walls in the old town Hoi An are not bad ideas for newlyweds, it said. The list of the top 10 destinations is rounded off by Cambodia, Indonesia, Honduras, Bulgaria, South Africa and Puerto Rico. … [Read more...] about Vietnam among world’s best places for budget honeymoon: Lonely Planet
Vietnam develops green agriculture to increase exports to E.U.
Last year, Vietnam’s export revenue of agro-fishery-forestry products set a record high of 53.22 billion USD, up 9.3% year-on-year. However, Europe accounted for only 11.3% of its market share. This is a modest number, although the agricultural sector has optimized many advantages of the E.U. - Vietnam Free Trade Agreement (EVFTA). One of the main reasons is said to be the union’s high requirements on farm imports, while Vietnam’s agricultural production has yet to meet green growth requirements. According to the World Bank’s report, agriculture is the second highest emitter, accounting for 19% of the nation’s total gas emissions in 2020. About 48% of the sector’s emissions and more than 75% of methane emissions are from rice production. Therefore, to boost farm exports to the E.U., the sector is advised to pay more attention to green growth indicators through making policies and roadmaps to reduce greenhouse gas and methane emissions in accordance with international … [Read more...] about Vietnam develops green agriculture to increase exports to E.U.
Vietnam prioritizes macroeconomic stability in 2023: PM
The country is forecast to be the second-fastest growing economy in Asia-Pacific this year. Vietnam would continue to prioritize macroeconomic stability and containing inflation in anticipation of greater challenges from both domestic and international fronts in 2023. Prime Minister Pham Minh Chinh at the meeting. Photos: VGP Prime Minister Pham Minh Chinh gave the remarks during a monthly Government meeting today [February 2]. According to Chinh, Vietnam’s socioeconomic performance in January has been positive with strong results in all fields and sectors, especially in industries, agriculture, and tourism. The World Bank in its latest global economic outlook report forecast Vietnam’s GDP in 2023 at 6.3% year on year, down 0.2% from the previous assessment, but still the second highest in Asia-Pacific. In addition to economic development, the authorities have taken measures to ensure social welfare and provided financial support for 25 million eligible … [Read more...] about Vietnam prioritizes macroeconomic stability in 2023: PM
Hanoi’s university leaps 97 places in Webometrics global rankings
The jump indicates the expansion of the scope of influence of the university's online resources and website not only in Vietnam and the world's academic community but in society. Vietnam National University-Hanoi (VNU-Hanoi) ranked 661st in the latest Webometrics Ranking of World Universities in 2023, jumping 97 places from the previous list released in August 2022. With the new position, the VNU-Hanoi stood 137th in Asia and 11th in Southeast Asia, according to the rankings freshly issued by the Cybermetrics Lab, a member of the Spanish National Research Council. The VNU-Hanoi ranks 11th in Southeast Asia in the latest Webometrics Ranking of World Universities. Screenshot: Anh Kiet/ The Hanoi Times (Source: webometrics.info) To the VNU-Hanoi, the jump from the 758th position in the January rankings to the 661st indicates the broadening scope of influence of its online resources and website not only in the academic community of Vietnam and the world but … [Read more...] about Hanoi’s university leaps 97 places in Webometrics global rankings
PwC Vietnam appoints Mai Viet Hung Tran as general director
Tran is currently the assurance leader for PwC Vietnam, a role he has played since 2019. He has over 26 years experience in auditing, accounting and management through construction and real estate, manufacturing and services, hospitality as well as the entire sale and retail industry. Mai Viet Hung Tran Tran’s core expertise lies in assurance, International Financial Reporting Standards and Vietnamese Accounting Standards. Under his leadership, the assurance practice has grown significantly and built up a portfolio of audit clients, including many local companies and multinational corporations. "We are pleased to announce Tran’s appointment and are confident that under his leadership, the firm will continue to grow and deliver on our client and people's expectations. It has been a fulfilling experience leading the firm since 2011, growing our multidisciplinary practice, developing new capabilities and most importantly, driving efforts to make PwC a better place to work … [Read more...] about PwC Vietnam appoints Mai Viet Hung Tran as general director