Why is metlife so successful

In particular, ST25 rice was sold for more than $1,000 per ton and Jasmine rice for $600 per ton.

The Vietnam National Seed Group (Vinaseed) has also inked many contracts to export rice to Australia, the Netherlands, and the Czech Republic at high prices.

The first batch of Vietnamese rice exported in 2021 was 1,600 tons of Trung An High-tech Agriculture Joint Stock Company. Its two types of Jasmine rice were sold for $680 and $750 per ton.

Pham Thai Binh, general director of Trung An, told VietNamNet that the company has changed its policy: producing and exporting high quality rice only.

Vietnam was known for exporting low-grade, low-priced rice for the past 30 years. Now, Vietnamese firms export high-quality rice for high prices. Vietnam is also the producer of ST25, the most delicious rice product in the world.

According to Deputy Minister of Agriculture and Rural Development Le Quoc Doanh, after more than 30 years of conquering the world rice market, Vietnam is no longer inferior to others in terms of the quality and price of its exported rice. The country currently has many valuable rice varieties and the price for Vietnamese rice is sometimes higher than that of Thailand and India.

Doanh said that five to six years ago Vietnam had 35-40% of high-quality rice varieties, but now the ratio is 75-80%. As the quality of rice has increased, the export price has risen very quickly. The rice industry has been successfully restructured in recent years, although the rice cultivation area has been reduced.

Recently, many people were “startled” by the information that Vietnam imported rice from India. But for experts, this is ‘the new normal’ of Vietnamese rice. Vietnam lacks and has to import low-grade rice to process cattle-feed as the proportion of high-grade rice varieties is overwhelming.

The Bangkok Post on January 25 commented that this is “Vietnam’s wise rice strategy”. Vietnam chose to import Indian rice at lower prices to meet domestic demand, while focusing on producing high-quality rice for export. The production of high-quality rice is on the right track with the world, taking advantage of export opportunities to the EU when the EVFTA went into effect.

Dr. Dang Kim Son, former director of the Institute of Policy and Strategy for Agriculture and Rural Development, acknowledged that rice is the most successful export commodity in recent years. From exporting 1 million tons per year, Vietnam has become the world’s leading rice exporter. If in the past, the price for Vietnamese rice was much lower than the world rice price, especially Thai rice, now it is equal or even higher.

Vietnamese rice holds No. 1 position in world

In mid-2018, when the price Vietnamese rice surpassed Thailand’s, many people called it a “miracle” because, for many years, Vietnamese rice had been inferior to Thai and Indian rice in both quantity and quality.

As a result, the position of Vietnamese rice has changed. In 2020, Vietnam overtook Thailand to become the world’s second rice exporting country, with 6.15 million tons, earning $3.07 billion. Notably, the export volume decreased by about 3.5% but turnover increased by 9.3%.

Vietnamese rice has surpassed both Thailand and India to take the number one spot in the world in terms of selling price. In 2020, with an average export price of $499 per ton, an increase of 13.3% compared to 2019, Vietnamese rice farmers earned high profits. It is estimated that with an output of about 7 million tons per hectare, farmers can earn from VND65-VND70 million per hectare, while the cost is only about VND16-VND17 million per hectare. It means a profit of 70%, equivalent to about VND50 million per hectare.

In early 2021, Vietnamese rice maintained its top position in price. On March 25, the price for Vietnam’s 5% broken rice increased to $515-520 per ton, compared to $500-$518 per ton for Thai rice and $398-403 per ton for Indian rice of the same kind. In January 2021, Vietnam’s rice export price hit $551.7 per ton.

‘Heavenly pearls’

According to the Vietnam Food Association (VFA), rice exports in 2021 will be very positive. The Asian rice market started to heat up again as customers were rushing to buy. Many countries have great demand for fragrant rice and sticky rice, which are an advantageous commodity of Vietnam. Vietnam’s export outlook is wide open thanks to opportunities from a number of markets that have signed free trade agreements (FTA) with Vietnam. In particular, under the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam has a quota of 80,000 tons of rice per year with 0% tax.

However, Pham Thai Binh said that to ensure a stable future for Vietnam’s rice export, it is necessary to strengthen the link between enterprises and farmers to improve quality of rice. Local governments need to find solutions to promote these links. This is a prerequisite for enterprises and farmers to jointly produce rice for export to serve various needs of the international market.

Agricultural expert Hoang Trong Thuy said that rice trading firms should keep shifting the structure of exported rice to high value-added types because if Vietnam produces low-grade rice, it will not be able to compete with India and Pakistan. Investing in the production of high-quality rice will help increase export value and enable Vietnamese rice to enter big markets such as Japan, Korea, and the EU.

Tam An

children explore the digital library at the Book Festival.2021. Photo dangcongsan.vn

HÀ NỘI  Many activities and programmes to promote reading culture have been organised nationwide for the framework of Book Festival 2021.

The highlight of the event is an exhibition with the theme “Books — Mission to develop reading culture” at the National Library of on Tràng Thi Street, Hà Nội.

Speaking at the opening of the exhibition, Kiều Thúy Nga, director of the National Library of Việt Nam, said that the National Book Festival, which has been held annually at the library since 2006, has helped to arouse passion, excitement in reading, cultivate knowledge and contribute to the development of  the country.

“Via the activities of National Book Festival 2021, we want to convey the message that each book is a wonderful picture of life,” Nga said .

“Books are not just pages but also contain the world that people always crave to explore. Picking up a book and reading, you will see a whole new world open up.”

The exhibition displays 800 books divided into four categories: Books — Path to knowledge; Books — Gifts nourishing the soul; Reading skills and methods; and Enjoying reading passion. It will last until Wednesday.

In addition, a seminar titled Youth with Reading Culture was organised within the exhibition with the participation of many experts and representatives of publishing units on April 16.

Like previous book festivals, a number of activities for children are being held along, such as drawing illustrations for books, parents’ reading books for children and exploring digital library of over 2,000 books in more than 20 different languages.

Meanwhile, Việt Nam Book Day 2021 kicked off in HCM City yesterday on the city’s book street in District 1.

A symposium on the development of a reading culture amid digital transformation was held on yesterday while the launch of book collections on the implementation of the resolution from the 13th National Party Congress, HCM City and digital transformation will take place on the street today at 3pm

Book lovers can also join a fan meeting with prolific and children’s favourite authors like writer Nguyễn Nhật Ánh or poet Thụy Anh, which will be held tomorrow.

To book lovers who cannot attend the festival in person could check in a national online book festival that will run until May 15 at book365.vn . The theme of this year’s festival, which is the second of its kind, is “Books for All Families”.

The national online book festival take place on the website book365.vn. Photo courtesy of the organisers.

Following the success of the first festival in 2020, the national online book festival 2021 will offer tens of thousands of books with 50-70 per cent discount and free shipping with the support of Vietnam Post.

The online book festival allows participants to discuss the development of a reading culture and gain an insight into digital transformation in the publishing industry, as well as how to access books in the context of the Fourth Industrial Revolution.

Its organisers revealed that they will sponsor readers in remote and disadvantaged areas with a discount of up to 80 per cent to many good books.

Last year, the online book festival gathered 49 publishers and introduced about 10,000 print books and up to 10,000 e-books.

April 21 was designated as Việt Nam Book Day by the then Prime Minister Nguyễn Xuân Phúc on February 24, 2014 with the aim to encourage a reading culture among the public. VNS

A customer views products at a PNJ store in Ho Chi Minh City. Photo courtesy of PNJ.

At its annual general meeting Saturday, it also announced a revenue target of VND21 trillion, up 20 percent.

But Phu Hung Securities Corporation has forecast revenues of VND18.4 trillion and profits of VND1.09 trillion, explaining that the volatility in gold prices and consumers’ increasing preference for imported jewelry would keep numbers down.

BSC Securities expected the jewelry industry to recover this year, and forecast PNJ a 22 percent rise in profits to VND1.3 trillion on revenues of VND19.8 trillion (up 13 percent).

PNJ chairwoman Cao Thi Ngoc Dung said the targets are achievable since the pandemic would be contained this year and the economy would recover.

The company aims to open 40-45 stores in 2021 and buy machinery for its jewelry workshops.

Its CEO, Le Tri Thong, said demand for jewelry among young people in major cities is high, and this would boost the company’s revenues and profits. Smaller cities and rural areas too however show promise, he said.

Last year, revenues edged up 3 percent to VND17.5 trillion, but Thong pointed out though the growth was lower than the average of 32 percent in recent years, the fact that PNJ managed to grow its revenues amid the pandemic was a success for it.

It opened 29 stores and closed 36 existing ones in 2020, most of them were silver jewelry stores in shopping malls with modest business and high rentals.

Most of its customers in the country are in technology, pharmaceuticals and manufacturing, while financial organizations are among the new ones, Elizabeth Laws Fuller, WeWork’s head of growth in Southeast Asia, told VnExpress .

It entered Vietnam in 2018 and now has two locations in Ho Chi Minh City out of its 30 in Southeast Asia.

Vietnam is seeing rising demand for coworking space.

A recent survey by WeWork and market research firm International Data Corporation found that 80 percent of companies plan to use coworking space in the next three years.

Another reason for the improving figures in Vietnam is its success in containing the Covid-19 pandemic and sustaining economic growth, Fuller said.

Many global corporations have been investing or expanding in Vietnam in recent years, and they have demand for flexible workspace, she said.

The pandemic has changed companies’ perception of coworking space, and in the long term customers would not be only small and medium-sized players but also large companies, she added.