Malaysia News Gazette

Hanoi: The Ministry of Agriculture and Rural Development (MARD) will hold a conference in May to announce the export of chicken meat products to Islamic markets with an estimated volume of around 1,000 tonnes per month, according to Deputy Minister of Agriculture and Rural Development Phung Duc Tien.

The Deputy Minister said the market of Muslim countries with a total population of around 2.2 billion people offers opportunities for a number of Vietnam’s agricultural products.

To date, Vietnamese companies have exported many products such as tra fish (pangasius), vegetables, fruits and rice to this market. However, the MARD believes that there is still great potential to be exploited.

According to the official, to export agricultural products to Muslim countries, Vietnamese products must have Halal certification. In the coming times, the ministry will focus on implementing solutions to tap this market./.

Source: Vietnam News Agency

Hanoi: Vietnamese small- and medium-sized enterprises (SMEs) should better their management capacity and business strategies so as to draw capital from both domestic and foreign investment funds who are holding hundreds of billions of USD, economists have said.

The funds are able to provide SMEs with effective financial solutions, they said, elaborating instead of investing in financial tools, they are targeting unlisted companies and listed ones who are planning to withdraw their stocks from the market to engage in the firms’ management and business growth.

The funds commit at least five- to ten-year investment, experts said.

Last month, the Vietnam Chamber of Commerce and Industry received a delegation of 14 world and region’s leading multi-national investment funds who came to seek investment opportunities.

Along with large funds such as VinaCapital and Mekong Capital, there is an increasing number of foreign venture capital funds expressing interest in the Vietnamese market.

However, most of the Viet
namese firms have not been well aware of the funds while their poor management and foreign language proficiency as well as limited understanding of the financial market’s potential are hindering them in seeking investment, said Tran Thanh Hai, a specialist from Bac A Commercial Joint Stock Bank.

Besides, the SMEs need to prove their capacity, technology and business vision, according to Hai. Once getting long-term capital from investment funds, they will have motive to invest in long-term values like digitalisation in management and business and automation in production./.

Source: Vietnam News Agency

Hanoi: Pham Nhat Vuong, Chairman of Vingroup and founder of Vietnamese electric vehicle maker VinFast, on March 18 announced the establishment of V-Green Global Charging Station Development Company (V-Green).

V-Green’s mission is to invest in the development of a charging infrastructure system that provide maximum support for VinFast to expand globally and propel Vietnam towards becoming one of the world’s leaders in electric vehicle charging station density.

V-Green, of which Vuong holds a 90% stake, will operate as a global partner, spearheading the creation of a comprehensive charging network.

This move will allow V-Green to focus solely on infrastructure investment independently from VinFast, and enable the Vietnamese electric manufacturer to prioritise market expansion and sustainable development.

With its goal of developing a green ecosystem and contributing to the electric vehicle transition, V-Green will seek better access to and mobilise capital with preferential interest rates, thereby fuelling
VinFast’s rapid expansion into international markets.

In the initial phase, V-Green will directly search for land and partners to establish and expand its charging network in key markets around the world. It will also cooperate with other charging companies to provide charging services to VinFast electric vehicle owners.

In Vietnam, V-Green will be responsible for operating and managing VinFast’s existing charging network. It will additionally invest 10 trillion VND (about 404 million USD) over the next two years to build new stations, upgrade and complete its existing network.

With this threefold increase in infrastructure investment compared to VinFast’s initial plan, V-Green aims to establish charging stations nationwide and make Vietnam one of the world’s leading countries in charging infrastructure for electric vehicles. After about five years of operation, depending on each market and actual fundraising capacity, V-Green may consider expanding charging services to other EV manufacturers in addition t
o VinFast.

The decision by VinFast’s Founder to establish V-Green is a strategic step to globally support and promote VinFast’s sustainable development, said Nguyen Duc Thanh, Chief Executive Officer of V-Green.

VinFast is expected to expand its operation to at least 50 countries around the world in 2024. In addition to key markets like the US, Canada, and Europe, the company is also entering into neighbouring Asian countries such as India, Indonesia, Thailand, and the Philippines as well as the Middle East and Africa./.

Source: Vietnam News Agency

Washington: Deputy Minister of Industry and Trade Phan Thi Thang had a meeting with Deputy Assistant US Trade Representative (USTR) for Southeast Asia and the Pacific Sarah Elleman, within the framework of Vice State President Vo Thi Anh Xuan’s recent working visit to the US.

The two sides assessed the official upgrade of the Vietnam – US relations to a comprehensive strategic partnership on September 10, 2023, as a historic milestone in bilateral ties, in which economic and trade cooperation will continue to be an important driving force, playing a pioneer role in promoting common prosperity between the two countries.

Therefore, management agencies of the two countries in general and between the Ministry of Industry and Trade of Vietnam and the USTR Office in particular need to have more extensive collaboration activities to implement and realise the vision of high-ranking leaders, and set development goals commensurate with the comprehensive strategic partnership for the coming journey, they said.

Thang
spoke highly of the close cooperation between her ministry and the USTR Office over the recent past, especially in increasing the efficiency and intensifying policy exchanges on a variety of economic and trade issues through the dialogue mechanism of the US-Vietnam Council on Trade and Investment.

She reiterated the need for relevant agencies of the US Government to have a substantive voice supporting the early removal of Vietnam from the non-market economy status, affirming that recognising Vietnam as a market economy will allow Vietnamese businesses to be treated more fairly, without affecting the legal rights of the US domestic manufacturing sector.

In addition, the US recognition of Vietnam’s efforts in economic reform will motivate other economies, and create more pushes for Vietnam in improving its business and investment environment, thus helping form a stable supply chain for the import and consumption needs of US enterprises and people, stressed Thang.

In the field of trade defence, the official e
xpressed deep concern over the increasing frequency of this kind of investigations on Vietnamese exports, and suggested the US carefully consider Vietnam’s opinions in each specific case to ensure trade liberalisation, fairness, objectivity, and transparency for trade activities of the two countries’ businesses.

Regarding specific cooperation activities in industry and energy, Thang proposed the two sides promote the implementation of signed agreements, expressing her hope the US and developed countries will have specific funding packages to support Vietnam in effectively implementing energy transition. She also suggested the US help the Southeast Asian nation improve its processing capacity and protect the environment in the process of mastering and exploiting natural resources.

The Vietnamese official also had working meetings with the Presidents of the American Association of Exporters and Importers (AAEI) and the Asian American Chamber of Commerce (AACC).

US associations highly valued the development p
otential and investment and business opportunities in Vietnam, saying that many member businesses are currently interested in diversifying supply chains and expanding investment in digital trade and services, seaport development, education, and finance in Vietnam.

Thang took the occasion to invite AAEI and AACC to introduce member businesses to attend the Vietnam International Sourcing 2024 scheduled for June in Ho Chi Minh City./.

Source: Vietnam News Agency

Hanoi: Building national brands is important to help local businesses engage deeply in the global value chains and establish reputation in the world’s market, experts have said.

According to brand evaluation consultancy Brand Finance, Vietnam brand value has increased to 431 billion USD to rank 33rd in 2022 from 319 billion USD in 2019. The country climbed one place to 32nd in 2023.

A report on the implementation of the Vietnam National Brand Programme 2023 by the Ministry of Industry and Trade showed that Vietnam continued to be a spotlight in the world’s brand development map, posting the fastest growth rate of 102% in the 2019-23 period.

Along with the growth of the nation brand, the brand value of Vietnamese businesses also increased strongly.

While brands of Vietnamese businesses were absent in the rankings of international organisations in early 2000s, the total value of the country’s top 50 brands increased by 36% to $36.6 billion in 2022.

Telecommunications, banking and food are industries with t
he most valuable and strongest brands, according to Brand Finance’s Vietnam 100 2023 report.

Banking brand value increased by 47% in 2022, proved resilient to economic headwinds battering the nation by adopting digitalisation and enhancing customer services. Bank of Investment and Development for Vietnam (BIDV) was the fastest growing brand with the value up 69% to 1.4 billion USD.

Viettel defended its title as Vietnam’s most valuable brand in our rankings for the eighth year running with a growth of 2% to 8.9 billion USD on improvement in financial performance and digitalisation effort.

According to Bui Thi Huong, executive director of Vinamilk, it is important for businesses to seek innovation and creativity based on their core values to not only continue affirm the brand value in Vietnam but also contribute actively to bringing Vietnam brand to the world.

Dang Thuy Ha from Nielsen Vietnam highlighted the remarkable success of the business community in promoting corporate brands and expanding the reach
of Vietnamese goods to international markets.

Vietnam’s strong brands are increasingly known to the world.

Still, many enterprises, mostly small and medium sized, have not paid adequate attention to building brands and invested properly for brand communication.

According to Alex Haigh, Managing Director of Brand Finance, Asia Pacific, a compelling story is the key to building the national brand and image of Vietnam. A number of factors will play roles in establishing brand, including diplomacy, economy and business environment.

Le Ba Ngoc, Deputy President of Vietnam Handicraft Exporter Association, said in brand building, it is necessary to focus on innovative, original and sustainable value.

Economist Tran Dinh Thien said that building a Vietnamese brand means creating prestige and advantage as well as conditions for Vietnamese products to easily reach the world to create national value and increase national pride./.

Source: Vietnam News Agency

Can Tho: Chairman of the People’s Committee of the Mekong Delta city of Can Tho Tran Viet Truong highlighted the potential benefits awaiting Japanese enterprises investing in the city during a working session on March 18 with a delegation of executives of Japanese banks led by Managing Executive Officer of Gunma Bank Uchibori Takeo.

Truong underlined the advantages Can Tho offers, including a readily available workforce, access to raw materials, well-developed transportation infrastructure, and a favourable urban environment. He pointed to the National Assembly’s Resolution issued in 2022, which allows Can Tho to apply some specially-designed policies to attract resources for infrastructure, human capital and digital transformation initiatives, including those from abroad.

Can Tho boasts a robust industrial park network, with six parks currently operational and one under construction covering a total area of nearly 992ha. It is actively seeking investment in the Hung Phu 1 and Vinh Thanh industrial parks.

Beyond infrastructure, Can Tho possesses a significant advantage in its human resources. It has the largest number of skilled workers in the Mekong Delta, with eight universities and 63 vocational training institutions contributing to the talent pool. Notably, around 8,400 students are pursuing studies in fields like information technology, electronics, telecommunications, e-commerce and digital economy. Every year, some 1,700 college and university graduates enter the workforce equipped with digital transformation skills.

Furthermore, FPT University in Can Tho offers a dedicated Japanese language programme while Can Tho University has incorporated Japanese as a supplementary language within its foreign language faculty. Other universities and colleges collaborate with businesses and organisations to provide training courses that prepare workers for potential employment opportunities in Japan.

Uchibori expressed confidence in the future of strong bilateral cooperation between Japan and Vietnam, noting the r
ecent upgrade of relations between the two countries to a comprehensive strategic partnership in November 2023. He said the existing cooperative relationships between Can Tho and Japan’s Hyogo prefecture, Okayama and Nasushiobara cities have established a solid foundation for further collaboration, particularly in the financial and banking sectors.

He thanked the municipal authorities at all levels for their support during the delegation’s fact-finding trips to various locations. He also pledged to facilitate the dissemination of information to Japanese leaders and businesses interested in collaborating with Can Tho./.

Source: Vietnam News Agency

Hanoi: Some 62% of women-led small and medium-sized enterprises and micro-businesses reported increased revenue after adopting digital payments, according to a recent study on small and medium-sized businesses (SMBs) in Vietnam released by Visa, a global leader in digital payments.

According to the study, considering that women constitute over half of Asia’s population, the Asia Pacific economy, including the Vietnam market, could gain an additional 89 billion USD annually if women were able to maximise their economic potential.

SMBs are crucial for Vietnam’s economic growth, with SMBs accounting for 96% of all businesses of Vietnam and employing 47% of the labour force, it said.

The study found that, with the adoption of digital payments, managing businesses has become easier for 73% of the surveyed SMBs in Vietnam. Almost three-quarters of the respondents have adopted digital payments, while 42% accept card payments. The primary factors influencing these decisions include ease of management, impact on sa
les, and the security afforded by bank transfers.

Furthermore, two-thirds of the surveyed SMBs collaborate with more than one payment provider. Among the businesses that have started accepting digital payments, those accepting cards witnessed the most significant turnover increases (79%), compared to those who did not accept cards (46%).

Digital payments enable fast transfers, and cashless everyday transactions for a better commerce experience. Visa supports SMBs in Vietnam through wide acceptance and protection for merchants and customers, and protection against fraud.

‘My business has grown since I introduced digital payment methods. I appreciate the convenience, speed, and the ability to easily track payment records. It provides my customers with a convenient cashless payment option too. I hope to expand my business beyond Vietnam so enabling cross-border payments will help me grow my customer base,’ said Nguyen Minh Tram, CEO and Founder, Sorella Beauty and Spa.

“SMBs are the backbone of Vietnam’s
thriving economy and Visa is proud to contribute to their growth by providing secure and convenient digital payment solutions,’ said Dung Dang, Visa Country Manager for Vietnam and Laos. ‘Visa is committed to continue introducing innovative financial and payment solutions, so they can build on this foundation to grow their business.’

In Vietnam, Visa is committed to helping SMB owners and startups, having signed a three-year MoU with the State Bank of Vietnam. Visa launched its SMB Accelerator Program in Vietnam in 2023 to support SMBs and partners, including through faster onboarding and comprehensive take-to-market support. The expanded SMB Accelerator initiatives will also focus on a wider set of partnerships with ecosystem participants to serve smaller sellers and fast-track solutions deployment for SMBs.

The Visa Foundation has also pledged 100 million USD over five years to accelerate access for underrepresented and women-led SMBs in APEC economies, including Vietnam, Indonesia, the Philippines, Mexic
o, and Peru. Of the nearly 67 million SMBs reached by Visa globally, approximately 29.6 million are from APEC economies, with 10.9 million being women-led SMBs./.

Source: Vietnam News Agency