Orion Confectionery has sold more Choco Pie snacks in Vietnam than in Korea for the first time.
According to its statement on Wednesday, the Korean company said, Sales of Choco Pies in the Southeast Asian country reached 92 billion won (US$80.95 million) in Vietnam last year, up 15 percent on-year, compared to W83 million in the country of their origin (US$1=W1,138).
Orion publicized the Choco Pie through localization to win over Vietnamese consumers. One of the examples is the Tinh campaign, which has been underway since 2009. The word of Tinh is similar to affinity, affection, or attachment in meaning. Orion has made use of the concept across its promotion and advertising programs so that local consumers feel comfortable with it.
The snack’s huge popularity took Orion’s total sales in Vietnam to a record W233.9 billion for the year.
Vietnam is the second country after China where the snacks have sold more than in Korea.
Most flight and train tickets in Vietnam have already sold out for five-day holiday.
The Reunification Day and Labour Day holiday will last five days from Saturday, April 27 to Thursday, May 2. VNS reports
According to a report on VNS, as many as 130 additional trains from the North to the South and vice versa with 63,500 seats have been offered during the holiday.
On April 27 – the first day of the holiday – most train tickets have been sold out. Said the officer of Vietnam Railways.
Flight tickets with preferential airfares to tourism sites such as Phu Quoc, Da Nang, Nha Trang and Da Lat are no longer available.
On April 27, the price of available flight tickets is quite high. A one-way ticket from Ha Noi to Nha Trang on Vietnam Airlines costs between US$150-270. Those for Vietjet cost between $120-154 while those on Jetstar Pacific cost about $90.
The Vietnam Aviation Department said Vietnam Airlines, Vietjet Air and Jetstar Pacific plan to provide nearly 8,700 domestic and international flights from April 26 to May 5.
None of the airlines sold tickets that exceeded the ceiling price as regulated, it said.
Extra bus tickets
Ha Noi Bus Station JSC said it plans to supply 3,200 bus trips to serve the high travel demand during the holiday.
Nguyen Anh Toan, director of Ha Noi Bus Station JSC, said the surge in passengers mainly focused on routes to tourism sites, including Phu Tho, Quang Ninh, Nam Dinh, Thanh Hoa, Thai Binh, Lao Cai, Son La and Dien Bien.
Regarding the fares, leaders of bus stations said the prices of tickets would not increase.
They suggested that passengers buy tickets at ticket counters.
In order to ensure traffic safety, buses overloaded with passengers and cargos will not be allowed to leave the stations.
Violations such as drunk driving or overcharging will be strictly handled, Toan said.
Moody’s Investors Service has just announced completion of a periodic review of ratings of Vietnam International Bank (VIB)
Previously, Moody’s Investors Service has upgraded the baseline credit assessment (BCA) and adjusted BCA of Vietnam International Bank (VIB) to B1 and Counterparty Risk Assessment (CRA) to Ba3 in November 2018.
The upgrade in VIB’s BCA and other banks’ is driven by the higher Macro Profile of Vietnam, progress in writing off legacy problem assets and profitability of the banks, according to a report from Moody’s.
In addition to the upgrade, VIB was recognized by State Bank of Vietnam (SBV) and Vietnam Asset Management Company (VAMC) as one of five banks to re-purchase all bad debts that VIB sold to VAMC. Moody’s and VIB expect profitability for VIB to improve over the next 12-18 months as the burden of credit costs is reduced because the bank has no debt at VAMC.
VIB is also known as one of the only two local banks ready to apply Base II standards. To date, VIB has completed the implementation and waited for SBV’s approval for applying the standards in 2018.
In 2019, VIB has planned its profit before tax of VND3,400 billion, increasing by 24% year-on-year. Total asset is expected to reach VND182,908 billion and total lending balance amounts to VND136,509 billion. Deposit only from tier 1 market is planned to achieve VND127,198 billion. The bank expects to maintain bad debts at below 2%. The bank will increase its charter capital up to VND10,900 billion, and grant bonus shares for shareholders and private issue for investors.
Nearly 10% room of the bank still be available for foreign investors.
AirAsia’s wholly-owned unit, AirAsia Investment Ltd, together with Gumin Company Ltd and Hai Au Aviation Joint Stock Company, have mutually agreed to terminate the agreement to set up a joint venture in Vietnam, effective April 17th, 2019.
The cancellation of the joint venture (JV) to form a low cost carrier in Vietnam will not negatively affect AirAsia Group Bhd’s expansion plan, said MIDF Research.
“While the cancellation of the JV may appear to negatively impact AirAsia’s expansion plan, we do not think that this is the case. In early April 2019, AirAsia introduced Can Tho to its network of routes with a weekly frequency of four flights. In fact, this is the first ever international flight to Can Tho, indicating AirAsia’s lead as an international airline for that destination,” it said in its report today.
It noted that Can Tho is AirAsia’s sixth destination in Vietnam while new services between Bangkok and Can Tho are set to commence in May 2019. The Sun Daily reports.
With 8.5 million visitors visiting the Mekong Delta in 2018, it opined that this destination has the potential to attract more visitors which will positively flow to AirAsia’s load factor thus, it is not imperative for AirAsia to set up a JV carrier in Vietnam.
Today, AirAsia told Bursa Malaysia that its wholly owned subsidiary AirAsia Investment Ltd, together with Gumin Company Ltd and Hai Au Aviation Joint Stock Company had amicably agreed to terminate and release each other from all obligations under the transaction agreements in relation to the proposed JV in Vietnam.
Mr. Nguyen Huy Thinh, General Manager of McDonald’s Vietnam, tells VET about the opening of the second restaurant in Hanoi and the use of digital technology.
Can you tell us about the second McDonald’s restaurant in Hanoi?
The second restaurant officially opened on April 17. Located on the first floor of the Diamond Flower building in Hoang Dao Thuy Street, Thanh Xuan district, the restaurant covers an area of 400 sq m. This is a prime location with many offices, businesses and banks. It is also very close to the National Convention Center, with Big C Thang Long supermarket and Hanoi Landmark 72 building nearby, as well as arterial roads such as Pham Hung, Tran Duy Hung and Le Van Luong, which have large populations. We believe that the opening of a McDonald’s restaurant on Hoang Dao Thuy Street will meet the huge demand among customers in the area.
How did McDonald’s prepare for the opening of this second restaurant after more than a year since it opened its first in Hanoi?
After opening the first restaurant by Hoan Kiem Lake, we spent a lot of time understanding consumption habits in Hanoi in particular and the north in general. McDonald’s therefore offers the most appropriate menus, dishes, promotions, and customer care services, receiving support and positive feedback from customers.
Over the past year, we have also studied the central and suburban areas of Hanoi to plan development in the medium and long term, as well as the direction to take in marketing and market development in accordance with the culture and consumption habits of the northern region, to best meet customer expectations. An understanding of customers was the main reason we selected Hoang Dao Thuy as our second location in Hanoi.
Why is McDonald’s opening new restaurants in Hanoi at this time? What are the differences in terms of market and customer habits between Hanoi and Ho Chi Minh City?
McDonald’s has a serious investment and a thorough understanding of new markets we want to develop. Hanoi in particular and the north in general will be an area where McDonald’s Vietnam invests strongly in the future. Therefore, our first steps are cautious, ensuring we bring products and services that meet customer expectations.
In 2017 and 2018, we spent a lot of time recruiting, training, and developing talent because when expanding the network, managers and employees are a key factor in determining success or failure. We also researched and successfully launched new items under our “Localization” strategy, with dishes more suitable for Vietnamese tastes at affordable prices, to bring convenience while ensuring “gold” quality under global McDonald’s standards. After nearly two years, the staff and menu have been completed, and now is the time to open new restaurants to serve customers.
McDonald’s recently received the title of “Sustainable Enterprise” after applying EOTF (Experience of the Future) standards in restaurant operations and customer service. How will EOTF technology be used in this new restaurant?
Thanks to our business acumen and a business development strategy based on technology, McDonald’s is proud to be a pioneer in the service industry and our restaurants use technology to improve service quality and provide new experiences to customers.
When visiting McDonald’s Hoang Dao Thuy, customers will experience an automatic ordering service through Self Ordering Kiosk (SOK) and service at the table, with support from a Guest Experience Lead (GEL). Technology hardware is combined with “heart-ware” to bring the best experience, because when lacking this second element, technology is just lifeless machines.
What are some of the key highlights in McDonald’s Vietnam’s strategy in the Hanoi market in particular and the northern market in general?
In preparation for expansion in the northern market, we prioritized the development of supply networks. We also trained experienced staff to be ready to take on important positions in the system. Understanding the strategic locations and meeting the requirements of the market and consumers is also one of the things we need to do to be able to succeed in new markets like Hanoi and the north.
Many couples have taken wedding photos on the top of houses in Hoi An Town in the central province of Quang Nam.
Hoi An is known as a popular spot for taking wedding photos.
Wedding photos taken on the top of houses in Hoi An City
However, some people are unhappy with couples taking pictures from the rooftops, making the most of the traditional skyline.
Hoi An’s cultural and information board admitted the problem, saying that it was not only dangerous for people climbing on houses, but also for the city’s historical sites.
A house in Hoi An City fenced to prevent people from taking photos
According to the board, young couples mainly use houses at No. 92, 150, 158 and 166 on Tran Phu Street, violating the Law on Heritage.
The board wants to raise public awareness about the issue and if any one tries to violate the regulations, they will be fined.
A traffic police officer died after being knocked off his motorbike while pursuing a hit-and-run driver in the southern Vietnamese province of Ba Ria-Vung Tau.
Police in Phu My Town, Ba Ria-Vung Tau Province confirmed on Wednesday that they had arrested Huynh Van Chung, 43, a resident of District 9, Ho Chi Minh City, for a hit and run which caused the death of a traffic cop.
According to preliminary information, Chung was driving a Ford Ranger when he hit multiple cars and motorcycles in the southern province of Dong Nai.
Rather than stop, Chung immediately fled the scene.
Some residents ran after him and managed to pull him over, but the driver injured one person and threatened the other with his axe.
Huynh Van Chung is apprehended. Photo: Ho Ka
The hit-and-run driver continued his journey and was pursued by Captain Chu Quang Sang after entering Ba Ria-Vung Tau Province.
Chung then knocked Captain Sang off his vehicle, leaving the officer with broken ribs and a broken leg and kneecap.
The officer was admitted to the hospital but later succumbed to his wounds.
Chung only stopped when he blew a tire on his truck.
Following the arrest, Chung’s family members submitted his medical record to the Ho Chi Minh City Mental Health Hospital, a police official in Phu My Town said, adding that Chung has been brought to the Ba Ria-Vung Tau mental hospital for a psychological examination.
Dr. Philipp Roesler, former vice chancellor of Germany, said his experience has prepared him for his new role in Vietnam supporting startups.
Speaking to the Vietnamese media a month after being named chairman of the advisory board of VinaCapital Ventures, one of the largest investment and asset management firms in Vietnam, he called the move a step forward in his career.
He highlighted the similarities between leading a country and leading a business, saying both require a collective spirit and for the leader to understand the root of the issues.
His past experiences and relationships have therefore prepared him for his return to Vietnam, he said.
As VinaCapital Venture’s executive responsible for consulting with and supporting startups, Roesler said his aim is to attract the largest possible number of foreign investors to Vietnam and take as many Vietnamese businesses overseas as possible.He added that the firm prioritizes the quality of a start-up’s staff and its leader’s vision for the business model when choosing which ones to invest in. Roesler is a German of Vietnamese origin. He was born in southern Soc Trang Province in 1973 and adopted by a German couple at nine months from a Christian orphange. Before entering politics, he was a cardiothoracic surgeon.
He was the youngest chairman of the Free Democratic Party (FDP) when he took office in May 2011, and served as vice chancellor and federal minister of economics and technology in Angela Merkel’s government until December 2013.
He resigned and quit politics after his Party lost in the 2013 elections.
His appointment at VinaCapital came after he became acquainted with its CEO and co-founder Don Lam at the World Economic Forum five years ago.
Roesler said he accepted the job because he felt the passion and burning enthusiasm of young Vietnamese startup founders.
More than a dozen students from Son La Province in northern Vietnam whose scores in the 2018 National High School Exam were changed in a high-profile cheating scandal are children of provincial leaders and officials, an investigation by Tuoi Tre (Youth) newspaper shows.
Results of the National High School Examination, held each year in June, are used to determine whether a student qualifies for graduation from high school and acts as a placement test for colleges and universities in Vietnam.
In the 2018 exam, hundreds of exam papers from the three northern provinces of Ha Giang, Son La, and Hoa Binh were found to have been manipulated by officials in order to alter the scores of dozens of students.
A criminal investigation was launched this month against more than a dozen officials and police officers in the three provinces to identify any abuse of power or position which may have played a role in the scandal.
Public opinion has been calling on officials and police officers to reveal a full list of students whose scores were altered in the 2018 exam, but the demand has not been met due to privacy concerns.
Speaking with Tuoi Tre (Youth) newspaper on Wednesday, a Party leader in Son La confirmed that a number of provincial officials are parents of the students involved in the scandal.
An independent investigation by Tuoi Tre reveals that 21 out of 44 confirmed cheaters from Son La are children of local officials or police officers, many of whom hold top positions at their respective government bodies.
The list includes the deputy director of the provincial education department, deputy chairman of Son La’s namesake capital city, director of the provincial statistics office, and the chief inspector of the provincial education department.
The children of these officials had their scores raised by 3-25 points on a test with a maximum score of 30, turning them into ‘top-scorers’ on the exam despite their real scores being much lower than the national average.
Most have dropped out or been expelled from their respective higher education institutions following the exposé.
However, according to a Party leader of Son La, an official court ruling on the role of these parents is needed before any disciplinary measure can be taken against the government officials.
In the meantime, these officials will not be considered for promotion, commendation, or salary bonuses, the source said.
Vietnam’s polices made another huge drug seizure this week, finding a ton of what is believed to be crystal meth that was dumped near a salt field in the country’s north after residents called the authorities.
Local residents phoned the local police to complain about bags which they thought were industrial garbage being dumped near a salt field on April 16, according to Tran Quoc Tuan, chairman of the Quynh Thuan Ward in Quynh Luu District in Nghe An Province. VNExpress reported.
On Wednesday, when police arrived at the spot, on the edge of National Highway 48B, they uncovered about a ton of ‘white crystals’ stored inside 23 bags.
Deputy head of the Nghe An Police, Nguyen Manh Hung, said that three suspects from different locations were arrested on April 17 but did not give any further details.
An unnamed police officer pointed out that the dumped meth could be linked to the 600 kilograms of meth that was seized on April 15 when police searched a house in Vinh, the provincial capital, 90 kilometers from Quynh Luu, and arrested five suspects.
Despite having the death penalty for drug traffickers, Vietnam continues to be plagued by drugs as it has become a key transit point for regional drug smugglers thanks to its favorable logistics.
‘Golden Triangle drug lord’
Investigators said last month that a trafficking syndicate run by a Chinese group was transporting large amounts of meth from the Golden Triangle through Laos into Vietnam. And some of those consignments were distributed from Vietnam to other countries.
The gang was allegedly headed by a Chinese man named Wu Heshan, 56, who set up a ‘garment company’ outside Ho Chi Minh City five years ago. But his compound was guarded around the clock and his security guards were kept away whenever ‘goods’ arrived.
Increased surveillance led to a raid on March 20, when 16 Chinese, including Wu, were arrested, with others, and 300 kilograms of meth seized.
Police later found 270 kg of meth had been shipped to the Philippines – a consignment that was seized on March 22.
Even before the latest discovery on Wednesday, more than 1.18 million tons had been seized in recent weeks.
The company, a 70/30 joint venture between Far East Orchard and The Straits Trading Co., signed a hotel management and technical services agreement with real estate developer Five Elements Development to manage two boutique hotels in Ho Chi Minh City, Vietnam.
Far East Hospitality will manage hotel operations and sales and marketing functions for both properties and will act as a consultant during the design, planning and construction stages of the hotels.
“Vietnam is one of the fastest growing tourism markets in the world with double-digit percentage increases in the country’s international arrivals since 2015. Furthermore, the Vietnamese government has also set a goal of 20 million foreign visitors by 2020,” Arthur Kiong, CEO of Far East Hospitality, told Singapore newspaper The Edge.
The hospitality market in Vietnam, which has been an attractive sector for investors over the past few years thanks to its consistent growth, is expected to continue to expand this year, partly due to global trends, according to Savills Hotels Asia Pacific.
Vietnam’s hospitality industry is witnessing rising interest from international and local investors. However, transactions have been limited within the operating asset segment due to the scarcity of inventory and the unwillingness of owners to dispose properties.
Dairy is an important and essential food but due to the high price compared to Vietnamese average income leading to the limitations in dairy’s expenses. Dairy’s spending accounts for 10% of the total food’s expenditure in Vietnam. Average GDP per capita growing constantly is the important factor boosting the dairy consumption.
The world’s dairy industry is highly concentrated. Total dairy consumption in developing countries is high, but consumption per capita is lower than in developed countries. In the first quarter of 2018, the dairy price fluctuated with two increases and three decreases, equivalent up 10.8% and down 2.3%.
In recent years, dairy sales in cities have not grown or kept negative growth, while dairy consumption in rural has been steadily growing at double digits. However, in the first quarter of 2018, total spending on dairy products in the whole market was lower than 5%. Especially, the negative growth in the quarter in cities was due to the fact that demand for powdered milk has not recovered.
Vietnam’s dairy production was forecast to increase by about 10% in 2017 and 2018. However, production of new raw milk only met 39-40% of domestic dairy demand, the rest depended on the import source. Dairy sales in Vietnam grew strongly from VND 42,000 billion in 2010 to more than xx, xxx billion in 2017, with an annual double growth rate of 11.7% in the period 2010-2017.
Powdered milk sales in 2017 were estimated to reach xx thousand billion dong, up 14.4% over 2016. According to VDA, powdered milk sales have continuously positively grown in the period 2017-2020. The turnover in 2018 is estimated at xx.xtrillion.
Vietnam’s liquid milk market has an annual double growth rate of 22.4% in the period 2010-2017. Up to the first three months of this year, liquid milk sales reached VND xx.xx thousand billion, up 10.8% compared to the same period in 2017. Yogurt consumption in the first 3 months of 2018 reached about x.xbillion, increasing by 10.7% over the same period last year.
Companies Covered In this report:
Vietnam Dairy Products Joint Stock Company (Vinamilk)
Nestle Vietnam Company Limited
3a Nutrition Company Limited
Nutifood Nutrition Food Joint Stock Company In Binh Duong Province
Frieslandcampina Vietnam Company Limited
Th True Milk Joint Stock Company
Moc Chau Dairy Cattle Breeding Joint Stock Company
Mead Johnson Nutrition (Vietnam) Company Limited
International Dairy Products Joint Stock Company (Idp)
AirAsia ’s wholly-owned unit, AirAsia Investment Ltd, together with Gumin Company Ltd and Hai Au Aviation Joint Stock Company, have mutually agreed to terminate the agreement to set up a joint venture in Vietnam, effective April 17, 2019.
According to a report by The Star, AirAsia in a filing with Bursa Malaysia today said AirAsia Investment, Gumin and Hai Au Aviation have amicably agreed to terminate and release each other from all obligations under the transaction agreements in relation to the proposed joint venture in Vietnam.
“The company, nonetheless, remains interested in operating a low-cost airline in Vietnam due to its favourable geographical location, expanding aviation market and overall growth potential,” it said.
the Malaysia-based carrier and Thien Minh Group, a Hanoi-based tourism business, agreed on Thursday to invest in aircraft to form a fleet for the new airline. TMG CEO Tran Trong Kien said that the fleet will mainly consist of Airbus A320s and A321s, both short- to medium-range, narrow-body aircraft.
“We expect to enhance our contribution to Vietnam’s aviation and increase locals in one of the most promising markets in the region,” AirAsia CEO Tony Fernandes said before signing agreement in December 2018.
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Ho Chi Minh City Open University will stop using plastic water bottles, drinking straws and other products during events held within the school from next month, in response to a movement to fight single-use plastics.
The management board of the Ho Chi Minh City Open University has observed an alarming number of over a hundred thousand plastic water bottles used in meetings, events and even in classes for the past few years, despite the school’s huge efforts on promoting environment campaigns on its campus.
A fresh effort is underway to tackle the issue, with the school expected to cut off the use of plastic bottles, straws and other dining utensils in all internal meetings from the beginning of next month, according to its vice rector, Associate Professor and Doctor Nguyen Minh Ha.
Alternatively, lecturers and students are encouraged to bring their own reusable water bottles or drinking water provided by the university to reduce plastic waste, Ha added.
Large water containers are expected to be available during meetings, as attendees will no longer be individually given their own water bottles.
The management of Ho Chi Minh City Open University will also offer reusable water bottles to officers and employees and organize environmental campaigns and events among students, as part of this plastic-reduction effort.
Different initiatives to reduce single-use plastics have recently been taken in Vietnam, at a time when environmental protection is a topical issue in the country.
Earlier this month several supermarket chains, including Vietnam’s leading retailer Saigon Co.op, began a step-by-step effort to ditch their biodegradable wrap for banana leaves in their respective systems.
Saigon Co.op also announced it would stop selling plastic drinking straws across its trading system from May 1.
In the meantime, local youth across the country have actively participated in the Challenge for Change, or the #Trashtag Challenge, where they gathered in groups to clean outdoor areas that have been overrun with litter.
