Lam Dong Province leaders visit the farm of Sunfood Da Lat CO.OP recently. — Photo courtesy of the Sunfood Da Lat CO.OP The Central Highland province of Lam Dong will need to train a highly skilled workforce, expand international cooperation and lure foreign investment in hi-tech agriculture in an effort to become a national agriculture hub. According to Nguyen Van Chau, deputy director of the province’s Department of Agriculture and Rural Development, Lam Dong, blessed with a mild climate and fertile soil suitable for agriculture, aims to attract FDI in hi-tech agriculture to add value and meet market demand, especially for exports. It plans to focus on restructuring crops and building concentrated production areas. It will invest in equipment and machinery, upgrading factories, supporting human resource training and building processes that meet international standards. Priority will be given to large-scale FDI enterprises with high capability in terms of capital, … [Read more...] about Lam Dong lures FDI in hi-tech agriculture
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Vietnamese Gov’t targets GDP growth of 7% in 2022
Vietnam’s economy has been firm on the recovery track, with the GDP growth in the second quarter at 7.72% year-on-year, the highest second-quarter growth since 2011. Based on Vietnam’s economic performance in the first six months of the year and expectations for the remainder of 2022, the Ministry of Planning and Investment (MPI) expected the economic expansion rate may hit 7% this year, 0.5 percentage points higher than the Government’s target of 6.5%. Minister of Planning and Investment Nguyen Chi Dung at the meeting. Source: VGP MPI Minister Nguyen Chi Dung forecast at the monthly Government meeting held today [July 4]. According to Dung, Vietnam’s economy has been firm on the recovery track with the GDP growth in the second quarter at 7.72% year-on-year, the highest second-quarter growth since 2011. This lifted the overall six-month GDP growth to 6.42% year-on-year, higher than the 5.74% rate in the same period of 2021, and equivalent to the … [Read more...] about Vietnamese Gov’t targets GDP growth of 7% in 2022
Venture capital into local startups reached record high of $1.4 billion
The report reveals that venture capital going into Vietnamese startups reached a record high in 2021 amidst market uncertainties and upheaval caused by COVID-19. The total funding amount reached a new high of $1.4 billion, a 1.6x growth compared to the prior record of $874 million set in 2019. Accordingly, the total number of funds invested in Vietnamese startups climbed by 60 per cent, equally distributed among countries. Singapore was the most active investor in 2021, followed by Vietnam and the US. Japanese investors have also gradually resumed their activities in Vietnam after a two-year slowdown. Investor appetite has been accelerated by an increased interest in sectors that have benefited from the pandemic. Moreover, the ease of video conferencing has made travel restrictions no longer a barrier to the investment decision-making process. Riding the acceleration of digital adoption, Vietnam celebrated the emergence of two unicorns, MoMo and Sky Mavis, in 2021. Their … [Read more...] about Venture capital into local startups reached record high of $1.4 billion
Festival featuring Vietnamese cuisine kicks off in Da Nang
A festival featuring delicacies from across Vietnam began on Sunday night in Da Nang as part of its summer tourism season activities, attracting a large number of locals and tourists. The event, devoted to Da Nang cuisine and beer space, is the highlight of the coastal city's summer festival activities. Visitors to this festival will be able to taste all of the specialties of central Vietnam, such as mi Quang (Quang noodle soup), bun bo (spicy beef noodle soup), bun hen Hue (Hue baby mussel noodles), banh xeo Binh Dinh (Binh Dinh savory crepes), and more. Two visitors enjoy ‘bun hen Hue’ (Hue baby mussel noodles) at the food festival at Bien Dong Park, Da Nang, Vietnam, July 3, 2022. Photo: Tan Luc / Tuoi Tre Aside from central Vietnam delicacies, tourists can enjoy other regional specialties such as hu tieu Sa Dec (Sa Dec stretchy rice noodle soup) and pho Thin Lo Duc , a dish from the namesake popular Hanoian pho restaurant. According to Tan … [Read more...] about Festival featuring Vietnamese cuisine kicks off in Da Nang
Sacombank re-appoints Nguyen Duc Thach Diem as CEO for five years
Nguyen Duc Thach Diem, permanent vice chairwoman of the board of directors cum CEO of Sacombank. — Photo courtesy of Sacombank Nguyen Duc Thach Diem has been re-appointed as CEO of Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) for five years. Her new term began June 30, 2022. Diem is now permanent vice chairwoman of the board of directors cum CEO of Sacombank. She was appointed CEO in 2017 when the bank began a post-merger restructuring process in the face of numerous difficulties and challenges in terms of personnel, operational efficiency and bad debts. Diem and her team managed to put a restructuring plan on the right track to achieve growth and improve operational efficiency over the years, making Sacombank an example of success in restructuring in Viet Nam’s banking industry. In the five years since restructuring, Sacombank has recovered and handled nearly VND72 trillion (US$3.09 billion) worth of bad debts and outstanding assets, meeting 67.9 per cent of … [Read more...] about Sacombank re-appoints Nguyen Duc Thach Diem as CEO for five years
