Rising lands

Dragon fruits exported to Thailand

Statistics from the Department of Agro-Processing and Market Development show that total fruit and vegetable export revenue in January was USD260m, a decrease of 7.6% compared to the same period last year.

More notably, the total export revenue to Thailand has been on the rise. Vietnam often had an import surplus of fruit and vegetables from Thailand but the situation changed in 2020 when Vietnam exported USD157m worth of vegetables and fruits to Thailand, an increase of 209.7% compared to 2019.

Vietnam imported USD78m worth of vegetables and fruits from Thailand in 2020, a huge decrease from 2019’s USD487m worth of products. In December 2020, Vietnam imported USD8.5m and exported USD8.2m worth of products from Thailand.

In January, Vietnam imported USD7.2m worth of products from Thailand and exported USD16.2m worth of products. The majority of the products exported to Thailand are dragon fruits, mango, longan and litchi.

LONDON — In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million.

The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it and that it is the original work.

It’s a new type of digital asset – known as a non-fungible token (NFT) – that has exploded in popularity during the pandemic as enthusiasts and investors scramble to spend enormous sums of money on items that only exist online.

Blockchain technology allows the items to be publicly authenticated as one-of-a-kind, unlike traditional online objects which can be endlessly reproduced.

“You can go in the Louvre and take a picture of the Mona Lisa and you can have it there, but it doesn’t have any value because it doesn’t have the provenance or the history of the work,” said Rodriguez-Fraile, who said he first bought Beeple’s piece because of his knowledge of the U.S.-based artist’s work.

“The reality here is that this is very, very valuable because of who is behind it.”

Examples of NFTs range from digital artworks and sports cards to pieces of land in virtual environments or exclusive use of a cryptocurrency wallet name, akin to the scramble for domain names in the early days of the internet.“Non-fungible” refers to items that cannot be exchanged on a like-for-like basis, as each one is unique – in contrast to “fungible” assets like dollars, stocks or bars of gold.

The computer-generated video sold by Rodriguez-Fraile shows what appears to be a giant Donald Trump collapsed on the ground, his body covered in slogans, in an otherwise idyllic setting.

OpenSea, a marketplace for NFTs, said it has seen monthly sales volume grow to $86.3 million so far in February, as of Friday, from $8 million in January, citing blockchain data. Monthly sales were at $1.5 million a year ago.

“If you spend 10 hours a day on the computer, or eight hours a day in the digital realm, then art in the digital realm makes tonnes of sense – because it is the world,” said OpenSea’s co-founder Alex Atallah.

Investors caution, however, that while big money is flowing into NFTs, the market could represent a price bubble.

Like many new niche investment areas, there is the risk of major losses if the hype dies down, while there could be prime opportunities for fraudsters in a market where many participants operate under pseudonyms.

Nonetheless, auction house Christie’s has just launched its first-ever sale of digital art – a collage of 5,000 pictures, also by Beeple – which exists solely as an NFT.

Christie’s ’embraces terrifying’

Bids for the work have hit $3 million, with the sale due to close on March 11.

“We are in a very unknown territory. In the first 10 minutes of bidding we had more than a hundred bids from 21 bidders and we were at a million dollars,” said Noah Davis, specialist in post-war and contemporary art at Christie’s.

His division has never seen an online-only sale top $1 million before, he added.

In a decision that could help push cryptocurrencies further into the mainstream, the auction house that was founded in 1766 will accept payment in the digital coin Ether as well as traditional money.

“I think that this moment was inevitable and whenever institutions of any kind try to resist inevitability, it does not work out very well,” Davis said of accepting crypto payment. “And so the best thing you can do is embrace the terrifying.”

$280k for Lebron James slam dunk

NFTs could be benefiting from the hype around cryptocurrencies and blockchain, as well as virtual reality’s potential to create online worlds. The growing interest also coincides with a surge in online retail trading during lockdowns.

The start of the rush for NFTs has been linked with the launch of the U.S. National Basketball Association’s Top Shot website, which allows users to buy and trade NFTs in the form of video highlights of games.

Five months after its launch, the platform says it has over 100,000 buyers and nearly $250 million in sales. The majority of sales take place in the site’s peer-to-peer marketplace, with the NBA getting a royalty on every sale.

The volume is rapidly rising: February has seen sales totalling $198 million as of Friday, heading for a fivefold increase from January’s $44 million, Top Shot said.

Each collectible has “a unique serial number with guaranteed scarcity and protected ownership guaranteed by blockchain”, the site says. “When you own #23/49 of a legendary LeBron James dunk, you’re the only person in the world who does.”

The biggest transaction to date was on Feb. 22, when a user paid $208,000 for a video of a LeBron James slam dunk.

One major NFT enthusiast, who goes by the pseudonym “Pranksy” told Reuters he had invested $600 in an early NFT project in 2017 and has now built that up to a portfolio “worth seven figures” in NFTs and cryptocurrencies. He asked to be anonymous to protect his family’s privacy.

Pranksy said he has now spent more than $1 million on Top Shot and made about $4.7 million by reselling purchases. Reuters was unable to independently verify the figures, although NBA Top Shot confirmed he is among the site’s biggest buyers.

“I see them as investments really, much like any other collectibles and NFTs that currently exist,” he said in an interview conducted via Twitter. “I’d never watched a game of basketball before Top Shot launched.”

‘Emergence of the metaverse’

Nate Hart, a Nashville-based NFT investor who, like Pranksy, has been involved in the market since it first developed in 2017, has seen some popular digital art NFTs such as Autoglyphs and CryptoPunk surge in value.

Hart said he bought a LeBron James Cosmic NFT on NBA Top Shot for $40,000 in January, then sold it for $125,000 in February.

“We’re in awe, it just doesn’t feel real. We were in the right place, right time, got lucky, but we also took that risk,” he said.

“The space has been growing a lot. I do think that this is a little bit of a bubble. It is a bubble,” he said. “It’s hard to predict what the top will be.”

Andrew Steinwold, who launched a $6 million dollar NFT investment fund in January, warned that the majority of NFTs could become worthless in future.

But, like many backers, he is confident that some items will retain their value and that NFTs represent the future of digital ownership, paving the way for a world in which people live, socialise and make money in virtual environments.

“We’re spending a lot of our time digitally, always online, always plugged in. It makes sense to now add property rights to the mix and suddenly we have the emergence of the metaverse,” he said.

“I think it’s going to reach into the trillions of dollars one day.”

Clam processing at Lenger Seafoods Vietnam Co. Việt Nam and the UK saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. VNA/VNS Photo

HÀ NỘI — After the UK-Việt Nam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic.

Statistics from the General Department of Việt Nam Customs showed that total trade in goods between the two nations topped US$657.35 million in January, a year-on-year hike of 78.57 per cent. The Ministry of Industry and Trade described it as an impressive growth, particularly in the context of COVID-19.

Notably, Việt Nam’s shipments to the European country hit $598.07 million, or 84.61 per cent higher than the same time last year, and 56.51 per cent higher than December 2020. Exports of agricultural products maintained stable growth in the month, with export revenue of seafood surging 18.1 per cent to $19.72 million, and fruits and vegetables rising 148.6 per cent to $1.04 million.

Under the UK trade deal, tariffs levied on Vietnamese shrimp materials is reduced from 10-20 per cent to zero per cent, while more than 94 per cent of 547 tariff lines on Vietnamese fruits and vegetables will be cut to zero per cent.

Experts said a wide range of Vietnamese fruits like lychee, longan, dragon fruit, pineapple and rambutan will hold more advantages to access the UK market over those from Brazil, Thailand and Malaysia who have not clinched an FTA with the European country.

Việt Nam also saw strong increase in its shipments of telephone and parts (up 371.6 per cent to $252.59 million); machines, equipment and parts (up 109.9 per cent to US$74.58 million); computers and parts (up 91 per cent to $31.82 million), among others.

Meanwhile, Việt Nam spent $59.297 million on imports from the UK, up 34.3 per cent year-on-year.

Last year, total trade value between the two nations reached $5.64 billion, with Việt Nam posting positive trade balance of $4.27 billion. The UK continued to be the 3rd largest trade partner of Việt Nam in Europe, following Germany and the Netherlands.

As of December 2020, the UK registered $3.84 billion in 411 projects in Việt Nam, becoming the 15th biggest investor among 139 countries and territories landing investment in the nation. Most of the UK’s projects were in finance, banking, oil and renewable energy.

The Ministry of Industry and Trade affirmed that the trade pact will boost trade growth between the two nations in the future thanks to its commitment to erasing 65 per cent of the total tariffs immediately after the pact took effect, and 99 per cent of the tariffs in six or seven years. — VNS

Beautiful scenery on the road from the centre of Tram Tau district to Mo Chi. The terraced field is one of the “specialties” of this land.

Often called the rooftop of Yen Bai province, Ta Chi Nhu is located in Xa Ho commune, Tram Tau district. It is part of the Pu Luong massif of the Hoang Lien Son mountain range.

Slopes passing through the meadows and tea fields.

A river amongst the severe slopes

The slopes become extremely slippery when it rains.

The dwarf forest with its low foliage along the slopes’ paths.

A camp site built for visitors by Mong people at an altitude of 2,400 meters above sea level.

The camp site is about 2.5km from the peak, this journey being the most beautiful stretch during the journey. Visitors can watch the sea at sunrise and sunset as well as the beautiful landscapes from the “dinosaur spine” and the mighty valleys of Pu Luong mountain massif.

The mountain sides are covered with the pink and purple colours of “Mat Rong” grass, a very special variety found in the locality.

Horses on the path to “conquering” the peak.

Ta Chi Nhu is considered one of the most beautiful sunset views.

Many people climb to the mountain’s peak in the afternoon and see dawn at the camp site the next morning.

The most significant moment is when visitors reach the landmark at an altitude of 2,979m of Ta Chi Nhu.

A beautiful dawn scene.

Ethnic minority porters are always enthusiastic in assisting visitors.

Tran Manh Quy, in Xuan Du Commune, Thanh Hoa Province, has been recognised by the Vietnam Youth Federation for his contribution to society. — Photo tuoitrethanhhoa.vn

Tran Manh Quy, 32, lives in Xuan Du Commune, Nhu Thanh, Thanh Hoa Province. His income has hit VND700 million (US$30,300) per year and he has created jobs for 10 local residents with a stable salary of VND5 million each monthly.

Born into a farming family in a poor mountainous region, Quy had a tough childhood.

After graduating from Hanoi University of Physical Education and Sports, he worked all kinds of jobs but still could not afford to care for his family.

In 2012, he realised the land of his hometown was suitable for growing peaches and learned through newspapers and the internet about how to raise chickens under peach trees.

After months of thinking, he decided to leave Hanoi to return to his hometown to chase his chicken and peaches dream.

“To implement this agricultural combined model, I had to borrow VND150 million from relatives and a local bank,” he said.

Initially, he only raised 200 chickens and planted 200 peach trees and some other fruit trees.

Because he did not have experience in farming and breeding, he encountered many difficulties and the baby chickens died frequently.

With perseverance and an inquisitive spirit, he overcame the difficulties, and improve his skills day by day.

In 2015, he sold many batches of chickens and decided to expand production by planting 300 more peach and other fruit trees, breeding another 800 chickens and digging fish ponds.

“To ensure a stable raw source and output, as well as learn experience, I joined a local breeding group with 22 outstanding members,” he said.

With his diligent and learning spirit, his farm has expanded to 1.5ha, including 2,000 peach trees, 200 dragon fruit trees and he sells 3,000 chickens raised according to VietGap standards each year.

His farm’s chickens have been certified as hygienic and safe by the Agriculture Department of Nhu Thanh District.

His farm’s chickens are sold to provincial supermarkets and traders. In the Tet (Lunar New Year) period, he sold 500 peach trees and 1,500 chickens.

As well as running his business, Quy is the Deputy Secretary of the Xuan Du Commune Youth Union and helps clean village roads and build charity houses for local residents.

He led the youth union groups to guide local people on how to protect themselves when from the COVID-19 pandemic.

He also encouraged local villagers and youth union members to donate flood to people in flooded parts of the central provinces.

On his plans for the future, Quy said: “I will expand the farm and guide the youth union members to develop the economic model by sharing techniques and breeds.”

Tran Tien Hung, Deputy Secretary of Nhu Thanh District’s Youth Union, said Quy has always been a leader in the economic development movement of young people.

“He has contributed to building a beautiful image of Thanh Hoa Province’s youth who always devote their work to the community,” Hung said.

Quy was honoured as a ‘Model youth example in 2020’ by the Vietnam Youth Federation.  VNS