After acquisition of Mobicast and Reddi, can Masan become the “Reliance Jio” of Vietnam? On September 21, The Sherpa, a subsidiary of Masan Group Corporation, announced an investment of $13 million to acquire a 70-per-cent stake in mobile virtual network operator (MVNO) Mobicast and officially expand to the telecommunications sector. This is Masan's first step into the digital services sector. Mobicast's services target tech-savvy customers with great demand for data usage and digital lifestyle. As a result, the startup can help Masan to complete its offline-to-online offerings of necessities and financial services. An MVNO offers a fast and cost-efficient system to build transmission and reception network infrastructure. Besides this, an MVNO is considered a catalyst for competition in the mobile telecommunications market. MVNO players will develop value-added services on mobile devices, helping to improve quality and diversify experiences. It is estimated that necessities … [Read more...] about After acquisition of Mobicast and Reddi, can Masan become the “Reliance Jio” of Vietnam?
Service sector vs manufacturing sector
Online platforms will help Vietnamese businesses expand their foothold in the foreign market. Vietnamese furniture exporters have been grasping opportunities to expand their foothold in the foreign market as the country is a member of multiple trade deals including the CPTPP and EVFTA, being emerged as an attractive alternative option. Making wooden products in a facility in Ung Hoa District, Hanoi. Photo: Cong Hung Insiders have said that the challenges are huge, but the opportunities since the pandemic have been pushing major buyers in Europe, the US, or Japan to look beyond China. Local firms, however, would not be able to grasp such opportunities if they are unable to approach customers during the pandemic. Taking furniture to online platforms While the Covid-19 pandemic has been causing tremendous hardship for businesses over the world, the combination of traditional and online selling channels is expected to open the door for Vietnam’s wood … [Read more...] about Vietnam’s wood industry strives to extend its reach globally
The digitalisation and technological transformation are speeded up during the COVID-19 pandemic. (Source: VNA) Hanoi (VNS/VNA) - The COVID-19 pandemic does not slow down technological transformation or digitisation, but in fact speeds them up, companies said. Speaking to Vietnam News , Angus Liew, General Director of Gamuda Land Ho Chi Minh City, said: “ Digitisation is the future of mankind, not only for real estate but also for all other business sectors, and people’s lifestyles as well. It’s an irreversible trend. Nowadays we can see everyone is talking about AI, industry 4.0, etc.” Technology was the backbone nowadays and governed every aspect of doing business, from operational systems to mechanisms to interact with customers. His company had put a lot of efforts and resources into developing technology and innovation. “ Technological transformation is one of our top priorities,” he said. Soon, possibly in the first quarter of 2022, Gamuda Land Vietnam … [Read more...] about Pandemic speeds up digitisation, technology transformation
An employee opens the door for customers at a store of FPT Corporation (FPT). FPT lost 1 per cent Tuesday. — Photo FPT Viet Nam's stock market finished lower on Tuesday on strong selling force from both local and foreign investors. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 0.79 per cent, to 1,339.84 points. The market's breadth was negative with 126 stocks increasing, while 275 stocks declined. The VN-Index had lost 0.16 per cent, to close Monday at 1,350.48 points. Investors poured over VND23.4 trillion (US$1 billion) into the southern bourse, equivalent to a trading volume of nearly 860 million shares. The VN30-Index, tracking the 30 biggest stocks in market capitalisation on HoSE, posted a loss of 0.85 per cent, to 1,446.22 points. Of the VN30 basket, four stocks climbed, while 25 slid. “With the market recovering when hitting the support level of 1,330 points, VN-Index is likely to still move around 1,350 points in the next trading … [Read more...] about Shares drop on strong selling force
Vietnam is racing against time to vaccinate people in order to soon reopen the economy in affected areas. Vietnam’s Covid-19 cases have reached 707,436 as of Sept. 21, including 67% have recovered, statistics by the Ministry of Health showed. Military medics are important in the pandemic fight in Vietnam. Photo: VNA The total infections were mostly detected in Ho Chi Minh City (49%), Binh Duong (26%), Dong Nai (5%), and Long An (4%). The death toll hit more than 17,000, including 76% in Ho Chi Minh City. The number of average daily infections in Vietnam was 10,330/day over the past week while the number of deaths was 229/day during the week. As the transmission is widespread, Vietnam is racing against time to vaccinate people in order to soon reopen the economy in affected areas. So far, more than 35 million vaccine doses have been administered, including nearly seven million people are fully vaccinated. To get as much vaccine as possible, the country … [Read more...] about Today’s Covid News: Vietnam’s coronavirus infections surpass 700,000