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Foreign woman loves Ao Dai, brings Vietnamese silk to the world

March 3, 2021 by vietnamnet.vn

Born and raised in Europe but Liisi has a special passion for Vietnamese Ao Dai (traditional gown) and Vietnamese silk products.

Người phụ nữ ngoại quốc mê áo dài, đưa lụa Việt Nam ra thế giới

Liisi next to silk garments from her own brand.

Business started from the love for Ao Dai

Liisi Mari (born 1990) was born and raised in Estonia. Liisi’s family had been painters for three generations, so she inherited some of that talent.

Living in the cradle of art, since childhood Liisi has always been immersed in paintbrushes and canvases. Her favorite technique is drawing on silk.

Later, Liisi graduated from the University of Arts in Estonia and went to Hong Kong (China) to study. Here, she met the man of her dreams and got married to a Vietnamese.

“When we first met, I often shared with my husband Ngoc my hobbies. He said Vietnam is a famous country for its silk. We talked about a lot of things but I was really fascinated when he had the same aspirations,” Liisi said.

When she was introduced to Ngoc’s family, his mother brought her to a tailor to make an Ao Dai as a gift.

The first time she held the Ao Dai in her hands, Liisi felt a strange sensation. In Liisi’s head, the image of paint brushes dancing on her shirt appeared. Just like that, she was infatuated with Ao Dai in all its magnificence.

Since then, Liisi has spent most of her time studying silk and Ao Dai.

Người phụ nữ ngoại quốc mê áo dài, đưa lụa Việt Nam ra thế giới

The young Estonian woman decided to choose silk to start a business thanks to her love of the Vietnamese Ao Dai.

In 2018, she got married and moved to Vietnam to live with her husband. In addition to painting, Liisi occasionally does modeling work.

Liisi is so “addicted” to Ao Dai that she wears them whenever a special occasion comes up, whether it is Tet or a wedding or party.

“Ao Dai contains the essence of national identity. I feel confident wearing them,” Liisi said.

Liisi saw that Vietnamese silk had a lot of potential so she started a business in her husband’s hometown with her own silk brand.

Liisi’s husband was then working for a company with a monthly salary of thousands of dollars, but decided to quit his job to cooperate with his wife on the business.

“My husband studied business administration, but I was inclined to art. We have different personalities but have the same orientation and support each other in our work,” said Liisi.

According to Liisi, silk is a great material for painting. The natural softness of the silk fibers helps the colors to spread and blend together into attractive new colors.

“My products contain my love and passion for silk. The motifs on the Ao Dai are all hand drawn by me so each set is unique, nothing is mass produced,” Liisi said.

Người phụ nữ ngoại quốc mê áo dài, đưa lụa Việt Nam ra thế giới
In the contest “Charming Ao Dai 2019”, Liisi won 4th place with the Ao Dai she designed.

In addition to the Ao Dai, Liisi also developed a hand-painted silk scarf and silk pillows. Just like the Ao Dai, there is only one version for each piece.

In addition to the products drawn by Liisi, the couple also organizes sessions for customers who want to hand-draw the motifs of their scarf or Ao Dai at the sewing factory.

“Painting on silk is an artistic activity that helps people find relaxation, tranquility, stress relief as well as training persistence and creativity,” Liisi said.

Bringing Vietnamese silk to the world

Người phụ nữ ngoại quốc mê áo dài, đưa lụa Việt Nam ra thế giới
Drawing on canvas class for children.

The Estonian woman added that, although the business is stable, the couple’s silk brand has not officially had a store, but only accepts orders via online form.

In order for customers to choose easily, couple are using a smart fashion app with a “Try-on” feature – allowing buyers to try on clothes and accessories on models virtually.

After being welcomed by the Vietnamese market, the couple brought “made in Vietnam” products to other countries. However, the distribution stops at retail activities.

According to Liisi, customers in Finland, Estonia, Germany, the US, and China find Vietnamese silk products through the couple’s sales page.

Người phụ nữ ngoại quốc mê áo dài, đưa lụa Việt Nam ra thế giới
A phoenix silk scarf hand drawn by Liisi.

Mr. Tran Ngoc, Liisi’s husband, said that in 2020, the couple intends to export through a large distribution channel, but due to the epidemic, it has been postponed. Currently, this plan has just been restarted. He will focus on exporting to Estonia and Germany.

“Because of limited capital and the lack of conditions to invest in large factories, my wife and I have developed the model of linking, sewing scarves and silk robes with traditional craft villages.

For standard product line, we order outsourcing. High-end line, exclusive design, we bring them to a small self-production workshop. However, the source of silk fabric must always ensure the standards of Vietnam. Because the foreign market is quite careful,” Mr. Ngoc said.

Người phụ nữ ngoại quốc mê áo dài, đưa lụa Việt Nam ra thế giới
Liisi inside the canvas studio.

Mr. Ngoc shared that the couple started a business entirely with their own capital and did not seek funds from others.

The brand name this may not be widely developed but the production is there. The quantity of goods is not high but he believes this is a sustainable way to go.

At the beginning, Ngoc and his wife also faced many difficulties in finding markets and approaching customers.

With business knowledge and brand development acquired for many years, Ngoc and his wife promote themselves through social networks. At the same time, the couple brings their products to travel fairs, world consumer fairs, and art shows.

“Silk is woven from insect silk. From this material, we can create many different fabrics, shiny like satin, rough like linen and burlap, hard like organza … “, the owner added.

Người phụ nữ ngoại quốc mê áo dài, đưa lụa Việt Nam ra thế giới
Liisi and her husband introduce the silk brand to the world to promote Vietnamese culture.

People often consider silk as a glossy fabric, loose and not for the young, but this material can be used for all ages, different in color and design.

Liisi said the developing the silk brand is not simply a business. The main purpose is to promote Vietnamese traditional culture, and elevate products to art.

“My husband and I are determined to move around and live in both countries – Vietnam and Estonia. So, everyone has the opportunity to be close to their family. In the future, I plan to open a representative office in Estonia. My mother also likes Vietnamese silk products,” said Liisi.

Thai Minh

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Vietnam stock market watchdog to provide support for businesses

March 11, 2020 by hanoitimes.vn

The Hanoitimes – The head of Vietnam’s stock market watchdog urged players to trust the internal strengths of the economy and the resilience of Vietnam’s stock market.

The State Securities Commission of Vietnam (SSC), the country’s stock market watchdog, is considering a number of solutions to help investors and securities firms overcome negative impacts of the Covid-19 epidemic and global turmoil, according to the SSC’s Chairman Tran Van Dung.

Chairman of the SSC Tran Van Dung.

Among them are lowering fees for some brokerage services and easing regulations on margin trading, Dung told Vietnam Financial Times.

At the close on March 9, the benchmark Vn-Index plunged 6.28% to 835.49, the biggest tumble since May 2014 when the standoff between Vietnam and China occurred after China moved an oil rig into Vietnam’s waters.

Dung, however, noted the liquidity of the Hochiminh and Hanoi stock exchanges remained abudant with nearly VND6.5 trillion (US$278.69 million) traded, indicating investors were buying in battered stocks.

Besides, foreign investors remained net sellers but at a moderate amount of VND230 billion (US$9.85 million) on March 9, Dung added.

Dung said the freefall of the stock market was a common situation globally, especially as “all bad news came at one time” that directly impact investor sentiment, including the sharpest decline of oil price since 1991, prompting Goldman Sachs to predict Brent oil could drop to US$20 per barrel this year.

On early March 9, the Japanese government issued lower-than-expected economic data for 2019, heightening fears the global economy may come to a recession under the growing impacts of the Covid-19 epidemic.

The Federal Reserves (FED) on March 3 cut interest rates by 0.5% in an emergency move, prompting 65% of traders to expect the FED to continue lowering interest rates by 0.75% in the upcoming meeting on March 17. If it happens, the cut in the federal funds rate would take the borrowing cost in the short-term markets down to a range of 0.25% – 0.5% and raise concern over the US and global economies going to slow down.

For the Vietnamese stock market, new cases of Covid-19 infections were the main reason for shares going downhill, Dung said. However, Vietnam’s successful containment of the epidemic is just a matter of time, given strong determination of the government and the public.

Moreover, in the mid- and long-term, credit and fiscal support packages from the government will no doubt help enterprises recover, Dung added.

Dung urged enterprises, intermediary financial institutions and investors to trust the internal strengths of the economy and the resilience of Vietnam’s stock market.

Such confidence would help the market to rebound sooner and avoid unnecessary sell-offs, Dung stated.

In the coming time, the SSC would continue to closely monitor the market and only intervene out of necessity, Dung added, stating the authority would strictly punish cases of market manipulation or providing false information for unfair gains.

Filed Under: Uncategorized Vietnam, stock market, SSC, Japan, United States, FED, coronavirus, ncov, Covid-19, Vn-Index, stock market support, yahoo finance business finance stock market, business news stock market today, stock market business news, yahoo finance business stock market, yahoo finance business stock market quotes news

Accountability sought in e-commerce

March 3, 2021 by www.vir.com.vn

1533 p10 accountability sought in e commerce
Accountability sought in e-commerce, illustration photo

A draft decree amending 2013’s Decree No.52/2013/ND-CP on e-commerce, which will see comments collected from businesses and consultant firms, has recently caused concern for e-commerce operators if the draft is adopted.

Nguyen Chi Linh, representative of an e-commerce platform which is a subsidiary of the Chinese tech giant Alibaba Group, noted her criticisms to VIR about an adjusted article which orders a searching tool for state authorities to manage all information of their traders to check and inspect any violations or complaints.

“This regulation is unnecessary and can seriously impact the convenience of traders. Even if traders do not violate or make any complaints, they don’t want private information to be monitored by state management agencies. They could jump to other social platforms, and hamper e-commerce development,” said Linh.

She added that the platforms are assisting state management agencies in investigating illegal business acts, saying that providing registration information, transaction histories, and other documents on the issue on the e-commerce trading platform should be enough.

In addition, new regulations related to joint responsibility on goods and services on the platforms has caused headaches for e-commerce operators. The draft decree has added responsibilities in Article 36.11.d, and the representative of the Chinese e-commerce platform said this is impossible for them, which plays a commercial intermediary role only.

Without a legal framework, the role and responsibilities of e-commerce platforms continue to be highlighted. At the end of 2019, sneaker and sports apparel giant Nike ditched its deal with Amazon after two years, after noting its concerns about third-party sellers offering counterfeit products on the marketplace. Many brands are unhappy with how Amazon operates, with fake goods running rampant.

According to Bloomberg, the e-commerce giant is also notorious for identifying popular products sold by third parties on its website and then selling its own similar products at lower prices.

In Vietnam, e-commerce platforms like Shopee and Sendo are used to inspections for massive violations and complaints related to bad service or fake and prohibited goods.

Nguyen Minh Long, director of Dragon Law Company, said that e-commerce platforms should not shirk their duty to provide a management tool for state authorities, and take the joint responsibilities to improve themselves.

“In order to enhance the efficiency of these regulations, we need some sanctions strong enough to ensure owners of e-commerce platforms improve accountability and compliance, ensure good performance of online trading, and protect local consumers,” said Long.

He agreed with new provisions, saying, “In the context that online trading is increasingly developing, especially during the pandemic, strengthening the state management for the sustainable development of the retail market is necessary to maintain both benefit of businesses and consumer protection, and avoid e-commerce platforms developing as a place for trading illegal goods,” explained Long.

The draft decree amending 2013’s Decree No.52/2013/ND-CP on e-commerce is being compiled by the Ministry of Industry and Trade. The draft adds provisions on managing e-commerce activities involving foreign factors, and those on social networks. It also revises several regulations on the responsibility of both e-commerce platforms and their operators.

Some popular e-commerce platforms in Vietnam are backed by Chinese technology giants, or funded by regional venture funds. However, results often fail to match investment, and competitiveness increasing. In 2020, Lazada.vn fell behind Shopee and Tiki, according to Malaysian shopping aggregator iPrice Group, with a sharp month-by-month drop of its traffic, while that of the leading player Shopee has tripled Lazada and Tiki.

By Huong Nguyen

Filed Under: Uncategorized e-commerce, Shopee, Tiki, Lazada, Coverage, account 12th commerce, accounting for e-commerce, accounting software for e-commerce

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