Xiaomi revenue surges 55 in q1 fills market gap left by huawei

More favorable conditions needed for private-sector development: PM By Thuy Dung Prime Minister Nguyen Xuan Phuc speaks at the Vietnam Private Sector Economic Forum 2019 - PHOTO: VGP HANOI - Although private enterprises have increasingly asserted their vital role in the local economy, they still face multiple obstacles in doing business. Therefore, it is necessary to create more favorable conditions for them to become a major driving force for the country’s economic growth, said Prime Minister Nguyen Xuan Phuc. Addressing the plenary session of the Vietnam Private Sector Economic Forum 2019, opened in Hanoi today, May 2, PM Phuc hailed the private sector’s contributions to the country’s socioeconomic growth. The sector has accounted for more than 42% of the country’s gross domestic product, contributed one-third of the State budget revenue and created jobs for 83.3% of local laborers, or 45.2 million people. The sector’s investment grew 17.1% in 2017 and 18.5% in … [Read more...] about More favorable conditions needed for private-sector development: PM

GoBear to improve financial inclusion for the Vietnamese people GoBear Vietnam has joined hands with FE CREDIT to drive greater financial inclusion for the people A renewed partnership agreement was signed in HCMC on March 4 by GoBear Vietnam and FE Creditto drive greater financial inclusion to Vietnam’s market. This partnership is one of the key projects for GoBear Vietnam this year, aligned with their growth strategy. In this partnership, GoBear Vietnam will synergize with FE Credit’s award-winning end-to-end digital lending mobile app $NAP, which offers loans to consumers with the ability to get real time loan pre-approval within 15 minutes. The new GoBear powered by FE Creditapp will further streamline GoBear Vietnam’s user journey and provide millions of unbanked Vietnamese people better access to unsecured loans. This app employs new technologies including Facial Recognition, AI algorithms, Optical Character Recognition (OCR) and Intelligent Character … [Read more...] about GoBear to improve financial inclusion for the Vietnamese people

Trần Hồng Hà Viet Nam News Trần Hồng Hà, Minister of Natural Resources and Environment, speaks to Việt Nam News Agency about his commitments to assure Việt Nam will be wealthy and clean Will you please tell us key achievements that the Ministry of Natural Resources and Environment recorded in 2017? In 2017, we focused efforts to achieve four major goals, such as to settle all major problems that had been left over in 2016; to solve policies that had prevented the utilisation of natural resources in production and business, in the course of national economic development; to further reform our administrative procedures; and to draw lessons learned in the course of implementing our policies regarding land, environment, mineral resources and the sea. In summary, I’m proud to say that most of the targets set for 2017 had been achieved. In short, what we had achieved last year was to aim to turn our country into an industrial nation and be pro-active towards climate change, … [Read more...] about Natural resources and environmental protection high on agenda

Students at Lilama 2 Technical & Technology College in Đồng Nai Province practise using the latest technologies based on German standards. — VNS Photo Thu Hằng Viet Nam News Thu Hằng HCM CITY — Despite receiving high scores on the universitiy entrance exam this year, Nguyễn Đình Tuấn decided to choose a more practical career by studying automobile engineering at a vocational college A native from the central province of Quảng Ngãi, Tuấn enrolled in Cao Thắng Technical College in HCM City, hoping to have a stable career soon after graduation. He made his decision based on careful study of the labour market and the availability of jobs that are in high demand. His parents, who supported his decision, said that technical training would prepare him for a rewarding career after graduation. This year, around 600 high school students who could have enrolled in university instead chose the automobile engineering technology training programme, according to Lê Xuân Lâm, … [Read more...] about High school grads shun university, choose vocational jobs as demand rises

China remained Vietnam’s largest importer of vegetables and fruits, accounting for 72.6% of Vietnam’s total export revenue from these products in the first five months of this year. A farmer in his fruit garden. China contributed 72.6% to Vietnam’s vegetable and fruit export revenue in the first five months of the year Vietnam generated US$1.76 billion from vegetable and fruit exports in the five-month period, including US$1.28 billion from the Chinese market. China was followed by the European Union with US$60.16 million, accounting for 3.4% of Vietnam’s total revenue from vegetable and fruit exports and increasing 39.7% year-on-year. The ASEAN market came third with US$59 million, followed by the United States with over US$58 million and South Korea with US$55 million. In 2013, the northern neighbor accounted for only 28% of Vietnam’s vegetable and fruit export revenue. The proportion surged to 70.8% in 2016, 75.7% in 2017 and 70% last year. The heavy … [Read more...] about China receives nearly three-quarters of Vietnam’s vegetable, fruit exports

Retailers rush to expand convenience store chains By Vu Yen A customer shops at a Cheers convenience store. Many local retailers are rushing to expand their retail store chains – PHOTO: TT HCMC – Many local retailers are rushing to expand their retail store chains, resulting in convenience stores mushrooming across the country, mainly in HCMC, even though some European retailers have withdrawn from the local market. Vingroup on a single day of December 31, 2018, put into operation 117 more convenience stores in the three regions, including northern, central and southern Vietnam, taking its total number to 1,700 VinMart+ stores at the time. VinMart+ now owns 1,900 stores nationwide. Vingroup has set a target to own 4,000 VinMart+ stores by 2020, according to the group. Meanwhile, Mobile World Investment Corporation, known in Vietnamese as The Gioi Di Dong, inaugurated 46 Bach Hoa Xanh stores in March. As of April 30, Bach Hoa Xanh operated 512 stores across the … [Read more...] about Retailers rush to expand convenience store chains

A challenge for the pandemic fight By Le Thach Anh Nearly 80% of international visitors came to Vietnam by air, much higher than the world’s average of 58%, according to the United Nations World Travel Organization - PHOTO: LE ANH Since the outbreak of the Covid-19 pandemic in Vietnam, Prime Minister Nguyen Xuan Phuc has repeatedly laid emphasis on the dual task of fighting the pandemic and ensuring socio-economic growth. This has posed a complex question for the related authorities: When to reopen international air routes? The reopening of the door to the world will be an important driver for the resumption of economic life, especially for international tourism. However, the move will bring about risks for the fight against the Covid-19 pandemic in Vietnam. The pandemic is developing very complicatedly in the world with rising infections while the vaccine against Covid-19 has not yet been commercialized. Many countries have reopened their doors to the outside … [Read more...] about A challenge for the pandemic fight

Vietnam’s economy still resilient to external headwinds: IMF By Pham Nhat Deputy Prime Minister Vuong Dinh Hue (R) shakes hands with Alex Mourmouras, division chief of the IMF’s Asia and Pacific department, on April 12. The Vietnamese economy remains resilient in the face of external headwinds – PHOTO: VNA HCMC – The Vietnamese economy is still resilient in the face of external headwinds, supported by robust domestic demand from a growing, urbanizing middle class and by rising inflows from tourism, remittances and direct investment, according to the International Monetary Fund (IMF). Country surveillance is an ongoing process that culminates in regular comprehensive consultations with individual member countries, with discussions in between as needed. The consultations are known as “Article IV consultations” because they are required by Article IV of the IMF’s old1/Articles04 of Agreement. An IMF team led by Alex Mourmouras visited Hanoi and HCMC from April 3 to 19 … [Read more...] about Vietnam’s economy still resilient to external headwinds: IMF

Cabbages are left rotten on the field in Ha Tinh province. Due to low prices, no traders have come to buy the vegetables. Some 40 cabbages freshly harvested on the farm filled her two baskets. But Oanh’s mood was gloomy. “Even if they are sold out, I will earn less than VND100,000 ($4.3),” Oanh estimated. This year, she grew nearly 1,500 square meters of cabbages, yielding some two tonnes of cabbages. Oanh estimated that if the cabbages are sold to traders, after she accounts for her spending on the seeds and the caring process, she will lose more than VND4 million ($174) in total. Vegetable and fruit prices in the north are reported to be cheaper than ever before, local media reported after Tet (Lunar New Year) holiday. Prices for vegetables and fruits sold at big markets in the capital city such as Dich Vong, Nhon, Mai Dich, Phung Khoang, Hom and Dai Tu have dropped by half or even three times as compared to those before Tet . Cabbages are sold at … [Read more...] about Vegetable prices plunge in northern and central regions

Traffic safety among worst experiences cited by foreign tourists By Dao Loan International tourists cross a street in downtown HCMC. The lack of traffic safety is the top reason for bad impressions among international visitors, regarding their experience in Vietnam – PHOTO: DAO LOAN HCMC – Poor traffic safety and trouble with local vendors are the main reasons for negative impressions among international visitors when visiting Vietnam, the World Bank (WB) said in its special focus on Vietnam’s tourism industry. The world lender cited data from the General Statistics Office (GSO) as saying that the vast majority of international visitors to Vietnam come from Northeast Asia, especially China, South Korea and Japan, accounting for 60% of Vietnam’s international arrivals last year. A significant share of visitors (11%) also come from nearby Southeast Asian nations. Other top visitor source markets are the United States (4.4%) and Russia (3.9%), reflecting their strong … [Read more...] about Traffic safety among worst experiences cited by foreign tourists