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Phuc spoke at a forum titled “Market Development for Fruit and Vegetables, and Solutions for the Development of Logistics Systems for Agriculture and Rural Areas” held in the Mekong Delta province of Dong Thap.

Phuc urged the region to continue to keep up with new trends in the global market and “take advantage of the fourth industrial revolution and apply advanced technologies in farming to produce the best quality fruit and vegetables.”

“Logistic plays a key role in enhancing competitiveness and promoting the global market for Vietnamese vegetables and fruits,” he said.

Bui Quoc Nghia, head of the Vietnam Logistics Institute, said the high cost of logistics was one of the barriers reducing the competitiveness of Vietnamese agricultural products in the world market.

Specifically, the ratio of logistic costs to Gross Domestic Product (GDP) in Vietnam is 20.8 percent, compared to 15.4 percent in China, 10.7 percent in Thailand, 13.5 percent in Asia Pacific, 9.2 percent in Europe, and 8.6 percent in North America.

The provincial People’s Committee, Institute of Organic Agriculture Economics, Lavifood Corporation and Greenland Business Group signed an agreement to promote the export of agricultural products from Vietnam to China via an official channel for the first time with a value of at least 500 million USD in the first two years and a gradual increase in coming years.

The Greenland Business Group is a wholly owned subsidiary of China Greenland Group, a leading importer and exporter of agricultural products in China and the Asia-Pacific region.

The forum, organised by the Institute of Organic Agricultural Economics and the Dong Thap provincial People’s Committee, was held to promote exports of Vietnamese fruits and vegetables as well as investment in the value chain of fruits and vegetables.

Vietnam is expected to earn 3.5 billion USD from shipping vegetables and fruits this year, representing a year-on-year growth of 45 percent, according to the Ministry of Agriculture and Rural Development.

In 2017, China, Japan, the US, and the Republic of Korea were the four largest importers of Vietnamese fruits and vegetables, importing 2.15 billion USD, 102 million USD, 82 million USD and 73 million USD, respectively.

China was the dominant import market for Vietnam’s fruits and vegetables.

Japan, UAE, and China posted rising import turnover of Vietnamese fruit and vegetables, increasing by 66.1 percent, 58 percent, and 53.1 percent, respectively.

The country imported 1.25 billion USD in the first 10 months of the year, representing a year-on-year surge of 70.8 percent.

After attending the forum, Prime Minister Nguyen Xuan Phuc visited Thuan Tan Club in Tan Thuan Tay commune, Cao Lanh city, Dong Thap province – a venue for Mekong Delta residents to share agricultural production experience.

Source: Vietnam.net

Vietnam has been ranked sixth among the world’s most attractive retail markets and named in the top 30 most lucrative retail markets this year, said Hoang Anh Tuan, deputy head of the Ministry of Industry and Trade (MoIT)’s Domestic Market Department. Tuan made the remarks at the Vietnam Retail Forum 2017 which was held by the Association of Vietnam Retailers (AVR) in Hanoi on December 12.

Tuan said that according to the Global Retail Development Index (GRDI), released by the US-based A.T. Kearney in June this year, Vietnam’s retail market has increased significantly in recent years and attracted a large number of foreign merchants.

A series of giant retailers from Japan, Thailand, the Republic of Korea, and France have boosted their investments in Vietnam, showing the allure of Vietnam’s retail market with a large and youthful population of more than 90 million.

However, Tuan stated that Vietnam’s retail market has become more competitive, creating huge opportunities and challenges for domestic enterprises. He added that the forum is an opportunity for Vietnamese retailers and members of the AVR to put forth appropriate strategies for meeting market demand and increasing their market share.

Dinh Thi My Loan, chairwoman of the AVR said that over the past ten years, the Vietnamese retailer community have managed to stand firm in the face of difficulties and the wave of foreign investment in the retail sector, noting that they have gradually adapted to the new situation and improved their competitiveness.

Ten years after joining the World Trade Organisation (WTO), Vietnam’s retail market has seen increasing prosperity, becoming one of the most attractive potential markets for foreign investors.

The wholesale and retail sector now accounts for 14% of the national GDP. In addition, sales revenue in retail has expanded strongly from US$88 billion in 2010 to US$158 billion in 2016, surpassing the statistics forecast by many foreign market research services.

Loan said that Vietnam’s retail sector should promote its growth through innovation and the application of technology in retail distribution while assisting domestic retailers in bringing Vietnamese goods to regional markets.

Source：VIETNAMNET Bridge

China-Vietnam Capital Cooperation Forum was held successfully in Ho Chi Minh City, Vietnam. Councilor of Shenzhen Stock Exchange (“SZSE”) Wu Lijun, Consul General of the People’s Republic of China in Ho Chi Minh City Chen Dehai,  Head of Ministry of Planning and Investment Foreign Investment Agency Li Guangjun, President of Bank of China Ho Chi Minh City branch Wang Hao and representatives from Ho Chi Minh City Stock Exchange presented.

Persons in charge of CITIC Securities, Essence Securities, Qianhai Equity Exchange, Vietnam Sacon Bank Securities, Bank for Investment and Development of Vietnam Securities, Yuexin Securities and Sacon Securities took participate in the forum.

4 enterprises took part in the road show of the activity and around 150 investors were attracted to the forum. Till now, SZSE has provided standard service for 40 overseas enterprises matching China’s capital. Participants at the forum launched The Declaration of Growing Route of Small and Medium Enterprises in China and Vietnam jointly, advocating in deepening the capital cooperation of China-Vietnam capital market with more tolerance and serving real economy in both countries to promote the formation of China-Vietnam capital market partner ecosystem under the background of the successful exchange of visits of heads of both states and the steady development of China-Vietnam friendly relations of cooperation.

China-Vietnam Capital Cooperation Forum exhibited potential investment absorption projects and matched potential investors via SZSE’s cross-border capital service mechanism and the information sharing service provided by online road show system. In doing so the forum has created a cross-border capital service platform for China and Vietnam successfully, facilitated the development of cross-border financial products and advanced China-Vietnam cross-border investment and financing greatly.

Vietnam industrial park, Vietnam local enterprises and other projects with feathers were present in the forum via China-Vietnam cross-border capital service platform. The whole activity was live online and gained positive promotion effects. China-Vietnam cross-border capital service platform was built by Shenzhen Securities Information Co., Ltd, the wholly-owned subsidiary of SZSE and Bank of China Ho Chi Minh City branch.

It provides investment and financing service covering the whole chain of China-Vietnam innovative capital and potential projects by offering cross-border road show resolutions and building economic, efficient and transparent information sharing platform of investment and financing to encourage the formation of cross-border capital.

This year’s China-Vietnam Capital Cooperation Forum is an act of SZSE of further deepening the capital market cooperation between China and Vietnam. Various social groups in Vietnam’s capital market are looking forward to a higher level and broader scope cooperation in China-Vietnam capital market.

Next, China-Vietnam cross-border capital service platform will attract more institutions from both sides to contribute, share resource channels and construct a cooperation network to enlarge the platform’s influence and penetration and promote capital connection in a wider range.

China-Vietnam cross-border capital service platform will become the propeller of the capital market cooperation between China and Vietnam, encourage both sides to learn from each other’s beneficial experience and explore routes fit each country’s multi-layer capital market construction and upgrade China-Vietnam economy cooperation towards higher level and long-term development.

Source: mondovisione

Vietnam is one of the fastest growing e-commerce countries in the world, heard the Vietnam Business Forum 2017 themed “E-commerce Solutions for the Success of Businesses” organized in Hanoi on December 12.

According to Do Kim Lang, deputy director of the Vietnam Trade Promotion Agency (Vietrade), which held the forum, the country’s e-commerce market grows 35% a year, 2.5 times faster than in Japan.

Vietnamese businesses capable of taking advantage of the internet and technology grow 2.1 times faster than others. Small and medium enterprises that spend more than 30% of their budget on technological innovation grow nine times faster than those spending less than 10%.

Lang said Vietnam’s e-commerce retail sales growth in 2016-2020 is estimated at 20% per year, and the country’s total retail e-commerce sales would reach US$10 billion by 2020.

In 2017, e-commerce retail sales have expanded 25% and would become an important part of Vietnam’s e-commerce sector.

However, there are still some barriers that threaten the sustainable development of e-commerce, including low consumer trust in the real products and online payment security.

Besides, most Vietnamese e-commerce websites provide basic services only, such as information about products and modes of payment. They should have added services like digital marketing optimization and connecting online with offline sales.

Lang said retailers cannot gain success on the e-commerce market by simply creating and operating a website. They have to develop a thorough and well-integrated strategy for all aspects of operation, including production, marketing, product sources, order management, and transport and delivery services.

Source: Saigon Times

Ho Chi Minh City put into operation its first-ever river bus route on November 25, hoping to ease road traffic loads.

The 10.8-km route connects Bach Dang wharf in District 1 with Linh Dong ward in Thu Duc district with one-way tickets priced at 15,000 VND (0.66 USD) and excluded for people aged above 70 and children with under-one-metre height. In its first ten days of operation, passengers can enjoy the bus service free of charge.

Three vehicles are run on the route, with two more set to be launched within the first half of 2018. Main stations of the route such as Bach Dang and Linh Dong have been connected with the city’s bus network to facilitate the movement of city dwellers.

Nguyen Kim Toan, director of Thuong Nhat company – the investor of the river bus project, revealed that five out of 12 stations along the route have been completed.

The company launched and conducted technical operation in August this year. The second river bus route in the southern city by Thuong Nhat will span 10.3 km, connecting Bach Dang wharf with Lo Gom area in District 6.

It takes passengers half an hour to cover the 11-km route which starts from District 1 to Thu Duc District.

After 10 days of running free of charge, the service will now cost each passenger 15,000 Vietnamese dong (66 U.S. cents) regardless the stops he or she gets on and gets off. The route has 12 stops.

Everyday, four 18-meter long boats run along Saigon River, with each carrying up to 75 passengers a time.

This year The Ho Chi Minh City municipal administration has approved two more river bus routes connecting the downtown with new urban areas in District 7, after the first two scheduled to flow this summer.

The new routes will link Bach Dang Wharf in District 1 with Phu Thuan Ward and Phu My Hung area in District 7, which is around six kilometers (4 miles) to the southeast.

The transport and investment departments will submit a proposal to the prime minister for consideration after the city’s mayor has approved the additional routes. No schedule has been announced.Ho Chi Minh City has decided to make better use of its waterways to clear clogged streets.

They have selected the investor for the first two ferry services, which are estimated to cost VND120 billion ($5.3 million) and slated to start this June.

One route will link the Bach Dang Wharf with Thu Duc District, passing through District 2 and Binh Thanh District over the Saigon River and Thanh Da Canal before reaching its final stop on the Binh Quoi River in the northeastern district.

Another route of more than 10 kilometers will run from the downtown wharf to District 8, passing through districts 4, 5, and 6 and docking at the Ben Nghe-Tau Hu canal. Tickets will cost VND15,000 ($0.7) apiece.

Ho Chi Minh City is also set to build extra piers to serve the new service, which is said to be well connected with bus and metro routes. The city also announced late last year plans to develop a floating market to boost tourism.

Source: Vietnam Plus