Rapid growth In 2017, Vietnam’s export value reached a record US$214 billion, a 21.2 percent increase compared with 2016. The export structure has shown positive changes, with industrial products accounting for a large percentage of goods and export markets diversified. The number of export businesses has also increased, with some gaining regional and global reputations. The Vietnam Dairy Products Joint Stock Company (Vinamilk), for example, has become one of the top 300 businesses in Asia, having invested in 10 farms with 25,000 dairy cows, producing milk products meeting Global GAP standards. Vinamilk also creates organic products for domestic sale and export to discerning markets, such as the US and Japan. Value chain participation According to economist Pham Chi Lan, however, businesses like Vinamilk account for a small percentage of total Vietnamese firms. A 2017 World Bank (WB) report entitled “Vietnam at a crossroads: Engaging in the next generation of global value … [Read more...] about The imperative of joining global supply chains
In Vietnam and elsewhere, ‘disaster capitalism’ is at play
Dang Hung Vo, former Deputy Minister of Vietnam's Natural Resources and Environment There is a Vietnamese folk tale about an old couple who lived in northern Vietnam for 30 years, overcoming together two big storms and five big floods. Though it is a folk tale, its details are drawn from true experiences of northerners. In the modern world, that tale can never be true. The north and north central regions just suffered two storms in two consecutive months, Son Tinh in July and Bebinca in August. The two entered Vietnam almost on the same route, triggering heavy rains in the entire northern and central northern regions, leading to flashfloods and landslides in the northern uplands and then serious flooding in the capital city of Hanoi. Those days when it was raining cats and dogs in Hanoi, I was stuck at home. I could not even call a cab and even if I could, traffic was paralyzed because of the floods. Those days, I slept on many thoughts. I watched TV to catch up on news about the two … [Read more...] about In Vietnam and elsewhere, ‘disaster capitalism’ is at play
Milan and Cortina revive Italy’s 2026 Winter Games bid
The government announced on Tuesday that a proposal to hold the games in Turin, Milan and Cortina had collapsed because of divisions between the three city halls and said that it would not support any new alternative projects. However, with preliminary bids due to be presented to the International Olympic Committee next month, the northern regions of Lombardy and Veneto said they planned to push ahead with a Milan-Cortina project and leave Turin out in the cold. * The two Koreas have agreed to pursue a bid to co-host the 2032 Olympic Games, they said in a joint statement on Wednesday following a summit between DPRK’s leader Kim Jong Un and the ROK’s President Moon Jae-in. * Wales international Ethan Ampadu has signed a new five-year contract with Chelsea, the Premier League club said on Wednesday. Ampadu, who turned 18 last week, has impressed at Stamford Bridge since completing a move from Exeter City in 2017 and has already made seven first-team appearances. * Japan's … [Read more...] about Milan and Cortina revive Italy’s 2026 Winter Games bid
Man City suffer surprise home loss to Lyon
The Premier League champions, favourites with some bookmakers to win Europe’s top club competition this season, were well below their best throughout and now face a serious challenge to progress from a group which also features Germany’s Hoffenheim and Ukraine’s Shakhtar Donetsk. City manager Pep Guardiola, serving a suspension, was forced to watch the game from the stands as his assistant Mikel Arteta took charge and it was a frustrating night for the pair, whose side have now lost four games in a row in the Champions League. In contrast to a flat-looking City, Bruno Genesio’s Lyon delivered a tactically superb display, defending in numbers to nullify City’s normally dangerous forward line and then counter-attacking at pace. City fans do not seem fired up by European competition and there were empty seats in the Etihad Stadium, which lacked any real atmosphere. City’s performance on the field, however, hardly helped to raise the volume. The visitors … [Read more...] about Man City suffer surprise home loss to Lyon
Champions League: Real Madrid win, Ronaldo sent off
Real Madrid coach Julen Lopetegui made three changes to the side that struggled in Bilbao at the weekend with Keylor Navas returning in goal, while Isco and Casemiro also came into midfield and attack. Isco opened the scoring with a free kick on the stroke of halftime, which was a fair reward for a first half in which Madrid were much better than their rivals, who have been struggling for form in Serie A. Bale doubled the lead with an excellent left foot shot to finish off a counter-attack launched by a magnificent pass from Luka Modric as Roma again failed to apply enough pressure to the reigning European Champions. Robin Olsen did well to deny Marco Asensio what would have been a wonderful solo goal with 10 minutes remaining, but Madrid's night was complete when new arrival Mariano Diaz scored a wonderful right foot shot in the 91st minute, shortly after making his debut as a second half substitute. There was drama in Valencia's Mestalla Stadium where Cristiano Ronaldo's return to … [Read more...] about Champions League: Real Madrid win, Ronaldo sent off