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Many taxi companies are calling for support from the government amid rising fuel costs and drivers deciding to resign following the Covid-19 pandemic. Many taxi companies are calling for support from the government amid rising fuel costs and drivers deciding to resign following the Covid-19 pandemic. Nguyen Van Hung has worked as a taxi driver in Hanoi for seven years. He said he has been facing the most difficult time in his career since the Covid-19 pandemic occurred. "Many of our colleagues have turned to other work after continuous social distancing measures were applied for Covid-19 prevention," Hung said. "I've returned to work after the pandemic was recently brought under control. However, we're facing another big challenge coming from rising petrol prices, which is badly affecting our income. The driver said that he was thinking of finding another job. Another driver, Nguyen Thanh Hoang who is working for the app-based Grab Company also said … [Read more...] about Taxi firms call for support as drivers quit

The sell-off in the Vietnamese stock markets has been consistent with what has been occurring in global markets. — Photo vov.vn The sell-off in the Vietnamese stock markets has been consistent with what has been occurring in global markets, though selling pressure was exacerbated by many new retail investors dealing with margin calls for the first time and a crackdown on firms that borrowed money to buy stocks. None of this is however likely to have much impact on Viet Nam’s economic growth or on the aggregate earnings of listed companies, Michael Kokalari, VinaCapital’s chief economist, assured. “In Q1 earnings surged by around 30 per cent year-on-year, and we expect the earnings of all of the companies listed on the Ha Noi and HCM stock exchanges to surge by nearly 30 per cent this year.” Viet Nam’s benchmark VN-Index sold off 11 per cent last week and was down 21 per cent in the year to date at the end of last week after being nearly flat until March end, he said. … [Read more...] about Why the stock market sell-off when VN’s economy is strong?

Two customers do online shopping on an e-commerce platform. — Photo vneconomy.vn Smuggled, counterfeit and low-quality products have begun to spread rapidly on e-commerce platforms as the absence of physical product touch in online shopping puts buyers at a disadvantage. Nguyen Duc Le, deputy director of the Professional Affairs Department under the Ministry of Industry and Trade (MoIT), admitted that deceptive trade practices have been rising steadily in recent years. “Bad vendors use genuine products for advertisements but deliver low-quality or second-hand products to buyers, depriving them of the warranty rights,” he said. Le Mai Huong, an enthusiastic online shopper in Ha Noi, shared her bad experience when shopping online with Viet Nam News. “In my experience, shoppers should not buy online stuff sold at prices far lower than market prices, notably cosmetics and drugs, as they are almost fake products. In addition, for clothes and consumer goods, many times I … [Read more...] about Bad vendors put e-commerce at risk

Container scarcity, input material price rises, and travel restrictions are just some of the factors damaging supply chains, Photo: Le Toan Demonstrating the wide reach that geopolitical tensions and the drag from global supply chain disruptions are causing worldwide, lowered prospects for mergers and acquisitions (M&As) in Asia-Pacific are being projected for the rest of the year, after the number of such deals fell in the first several months of 2022. A total of 123 finance sector M&A deals were reported in the January-to-March quarter, compared with 165 in the same period of last year, S&P Global Market Intelligence data shows. The ongoing conflict in Ukraine, supply chain bottlenecks, and inflation concerns slowed down deal-making in the first quarter. “We expect to see deals start and stop as companies try to time when best to take the plunge,” said Sophie Mathur, partner and Asia head of corporate at law firm Linklaters. Despite the emerging opportunities, … [Read more...] about Reset required for supply chain woes

At a seminar on using science and technology to improve agricultural productivity and quality held in Can Tho city last week, Deputy Minister Tran Van Tung said the Mekong Delta plays an important role in the country’s agricultural production, contributing 55 percent of the country’s rice output, 69 percent of seafood and 70 percent of fruits. It also accounts for more than 90 percent of rice exports and 60 percent of seafood exports. But much of it is sold as raw products at low value. Inconsistent quality is a problem that plagues the region. Climate change and global integration have also adversely impacted the delta’s agricultural production, Tung said. Droughts, floods and saltwater intrusion, often an impact of climate change, have greatly affected productivity and quality. In this context, besides finding measures to mitigate the impacts of climate change and mapping out programs and policies to speed up restructuring of the sector, quickly ramping up the use of … [Read more...] about Vietnam’s agricultural sector urged to modernize technology

Increasing demand Nguyen Tuan Anh, Deputy Director of the Electricity and Renewable Energy Authority under the Ministry of Industry and Trade (MoIT), said that new power sources expected to be put into operation in the 2022-2025 period will not keep up with the load growth, making it increasingly difficult to ensure stable supply and risking peak capacity shortage in the northern region from May to July. Transmission of renewable energy sources remains limited Nguyen Tuan Anh explained that about 10 major power projects in which Electricity of Vietnam (EVN) is not invested, are behind schedule bringing capacity shortage to about 7,000 MW, which will affect power supply. Meanwhile, renewable energy sources (solar and wind power) have been significantly supplemented, but transmission of the energy remains limited, likely resulting in local electricity shortages at times. Tuan Anh also said that according to the MoIT’s Electricity Master Plan VIII, the demand for … [Read more...] about Transparency needed to draw power industry capital, officials say

Your browser does not support the audio element. I confess I’m a soup lover, yet another reason for Vietnam to be at the top of my list of foodie destinations since there is no shortage of options day or night. The beauty is although the common Vietnamese soups share the same name and unique place of origin, the ingredients and preparation are different depending on local tastes in each region as well as what’s readily available and fresh. Da Lat is a destination that’s on nearly everyone’s list and the city features unique and delicious food, but, like anywhere, the best hideaways aren’t always easy to find. These places aren’t found in foodie blogs nor in tourist magazines – their success is strictly based on word-of-mouth. They’re makeshift, worn and old, a couple don’t even have addresses, and popular among locals but otherwise not well known. After lengthy searches and comparisons they are the best I’ve found at what they serve. Mi Quang Da Lat Style As most people … [Read more...] about Three great street soups in Da Lat

A pet memorial corner at Tề Đồng Vật Ngã Pagoda. VNS Photo Bảo Ngọc Bảo Ngọc Thousands of pets have been laid to rest in the burial ground of Tề Đồng Vật Ngã Pagoda. Founded 50 years ago, it is a peaceful place in downtown Hà Nội where animal lovers can pay their last respects to their beloved pets. Nguyễn Bảo Sinh, 84, owner of the pet cemetery, believes that pets have the right to be treated like humans. He said that it was one of the main reasons he built the pet cemetery. “I think pets have equal rights as human beings, and they should be treated and loved just like humans,” he said. “Buddhism teaches us to have love and kindness to all, including animals and plants. That is the compassion in Buddha’s teaching. My pagoda is built based on the principle of compassion in Buddhism." From a small ground, Sinh has developed this place into an unusual destination, with “life-to-death” services for pets such as hotels, healthcare, funeral, and cremation. “I used to have a … [Read more...] about An unusual cemetery where pets can be remembered

Hanoi last month resumed its night tour of Thang Long Imperial Citadel, a complex of buildings first constructed in 1011 under the reign of King Ly Thai To. It was constructed on the remains of a Chinese fortress dating from the seventh century, on drained land reclaimed from Red River Delta in Hanoi. It was the center of regional political power for almost 13 centuries, from the Ly, Tran to Le dynasties. The tour that lasts an hour and a half starts from Doan Mon, the main gate of the imperial citadel at 18 Hoang Dieu Street, Ba Dinh District. From the gate tourists commence along roads paved with lemon flower bricks built under Tran Dynasty to Thien An Palace. A royal court ceremony and ancient dance performance called "Thang Long Palace" is staged on top of the archaeological remains. Tourists can learn more about the history of the citadel while admiring artifacts associated with Vietnam's feudal dynasties. … [Read more...] about Night tour of Thang Long Citadel revives ancient royal customs

Vegetarian food Smiling Mushroom's customers are urban, high-income consumers, 85 percent of them women. The company has launched distinctive products, such as plant-based meat and food made from mushroom protein, targeting 20-55 vegetarians and dieters concerned about their health and the environment. Emmay’s distribution strategy is both B2B and B2C, via both online and offline channels. So far, the company has established 230 retail points, seven distributors and compiled 800 end-consumers data. A product of the Emmay and Colleagues JSC Its products are currently distributed at big supermarkets, such as Aeon Mall, Saigon Coop or BigC, and at about 200 clean food outlets. Eighty percent of the company’s revenue is derived from wholesale distributors and supermarkets. According to Smiling Mushroom CEO, the brand is still in the early stages of food substitutes for animal meat, making it 50 to 70 percent more expensive than animal meat. For example, a 200-gram bag … [Read more...] about Startup sales mushroom as they adapt to ensure survival