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Vietnam’s economy will grow at 6.6 percent this year: HSBC

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HSBC forecasts Vietnam’s economic slowdown in 2019, at 6.6 percent, slightly down from last year’s 7.1 percent.

According to its latest report released last week, HSBC said average inflation of Vietnam would be 3.1 percent, meeting the central bank’s target of ‘below 4 percent’. VNS/VNA – a state run media reported.

The GDP growth in the first quarter is estimated at 6.8 percent, down from 7.3 percent a year ago. Manufacturing industry contributed the most to the growth while the services sector continued to outperform. The Export growth in the period was the lowest in the last nine years.

HSBC said the economy still shows strong signs of growth. In March, the Purchasing Managers’ Index (PMI) rose, manufacturing and new export orders increased steadily.

The industry remains optimistic based on the likelihood of improved demand and investment.

Foreign direct investment (FDI) increased steadily since the beginning of the year, and is expected to sustain domestic growth despite external difficulties.

Meanwhile, low inflation will enable the central bank to further focus on growth.

The Government is expected to continue with reform of health-related services.

Manufacturing is expected to remain strong this year after growing at 13.1 percent in the first quarter and contributing 2.5 percentage points to Q1 growth. This was its highest contribution last year.

Domestic demand remained strong as growth continued in the wholesale, retail and transportation sectors.

The main negative in the first quarter was the slowdown in the growth of the financial sector as credit growth slowed since the second half of 2018 to control inflation.

Vietnam Airlines to launch self check-in kiosks at London Heathrow Airport

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Vietnam Airlines have announced that passengers departing from Heathrow airport in the UK will be able to check-in via newly installed check-in kiosks at the airport.

The airline has already installed a similar service at several foreign airports such as Narita in Tokyo, Kansai in Fukuoka, Incheon in the Republic of Korea, and Frankfurt in Germany.

Passengers will be able to use the check-in service between24 hours and 60 minutes before the scheduled departure time. The new check-in kiosk system is expected to save time for passengers and reduce long waits at the airport. Accordingly, passengers will have the ability to select their seat and print their boarding pass at the airport.

For passengers without luggage, they can use the boarding pass printed from the check-in kiosk to make their way through security and to the gate.

Vietnam Airlines launched a direct service from Heathrow with new bookings available since 2015. The airline uses its new fleet of 787-9 Dreamliners to operate five weekly services to Hanoi and Ho Chi Minh City.

In 2018, 40 per cent of Vietnam Airlines’ passengers departing from Noi Bai, Da Nang, and Tan Son Nhat airports used online check-in services through the company’s website and mobile application or via kiosks installed at the airport. The figure rose to 50 per cent during peak times.

Subsidiaries of Samsung Electronics in Vietnam are thriving

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Samsung Electronics’ overseas sales, excluding semiconductor, have been on the decline in most areas, such as the United States and China. However, Vietnam is an exception.

According to a report on Business Korea, the sales of Samsung Electronics Ho Chi Minh City CE Complex (SEHC), which is in charge of televisions and home appliances, grew more than 280 billion won (US$246.37 million), according to Samsung Electronics on April 3. Samsung Electronics Vietnam Bac Ninh (SEV) and Samsung Electronics Vietnam Thai Nguyen (SEVT), which produce information technology (IT) devices, including smartphones, mainly for overseas markets, increased over 2 trillion won (US$1.76 billion) last year based on separate financial statements. The combined sales of Samsung’s subsidiaries in Vietnam rang up 53.99 trillion won (US$47.52 billion).

This stands in stark contrast to a rapid drop in sales in the United States and China, which are traditionally large markets. The sales of Samsung Electronics America (SEA) decreased nearly 2.16 trillion won (US$1.90 billion), while that of the firm’s subsidiaries in China plunged a total of 5.60 trillion won (US$4.93 billion). In addition, the company saw its sales shrink 460 billion won (US$404.75 million) in the Samsung Electronics GmbH in Germany, 750 billion won (US$659.92 million) in the Thai Samsung Electronics (TSE) and 130 billion won (US$114.39 million) in the Samsung Electronica da Amazonia (SEDA) in Latin America. Samsung Electronics showed sluggish sales in most of its overseas subsidiaries, except for Vietnam.

Samsung Electronics grasped Vietnam’s spending power as emerging “young market.” Young Vietnamese consumers are highly interested in IT devices, including smartphones, and they get new products more frequently than people in other countries. Industry sources said the population aged between 10 and 29 in Vietnam reaches 31 million out of the total 96 million. The number of mobile device users stands at 70 million, nearly 73 percent of the total population.

Vietnam is also playing a vital role as a production base. With a rise in labor costs in China, Samsung Electronics started to move its production base to Vietnam early. Since Vietnam’s gross domestic product (GDP) per capita still falls short of US$3,000 (3.41 million won), the country is attractive as a production base. Samsung Electronics is said to have more than 100,000 local employees.

- Business Korea

Vietnam’s economy is forecast to grow 6.8 percent in 2019 and 6.7 percent in 2020: ADB

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The Asian Development Bank (ADB) said in its report “Asian Development Outlook 2019.” Strong exports and domestic demand pushed Vietnam’s gross domestic product (GDP) growth higher in 2018 than in more than a decade, standing at 7.1 percent, but in 2019 and 2020, a weaker external environment will likely moderate growth and narrow the current account surplus, while inflation remains stable this year but will rise somewhat next year, the ADB stated in its report released Wednesday.

According to ADB, Vietnam’s economic growth will continue to be broad-based, underpinned by export-oriented manufacturing, inward foreign direct investment (FDI), and sustained domestic demand. Ongoing reform to improve the business environment should encourage private investment, as should efforts to forge stronger ties with partners around the world through various trade agreements.

Asian Development Outlook (ADO) 2019 – ADB

The Vietnamese government targets the establishment of 140,000 new businesses in 2019, which bodes well for exports, FDI inflows, and private investment more generally.

The outlook for private consumption remains robust as households enjoy rising incomes and stable inflation.

Vietnam’s inflation is expected to continue to average 3.5 percent in 2019 but accelerate to 3.8 percent in 2020, the ADB said in the report.

Vietnam achieved GDP growth of 6.79 percent in the first quarter of this year, down against the first quarter of last year, but up against the first quarter of 2011-2017, the country’s General Statistics Office said last Friday.

Vietnam gained GDP growth of 7.08 percent last year, up from the annualized target of 6.5-6.7 percent, the office said, adding that the country’s top legislature has set a target of attaining GDP growth of 6.6-6.8 percent this year.

Standard Chartered Bank has recently forecast Vietnam will see a stable economic growth of 6.9 percent in 2019, buoyed by strong manufacturing sector supported by FDI.

The Asian Development Bank is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The company also maintains 31 field offices around the world to promote social and economic development in Asia. (Wikipedia)

Contact GBS, a business law firm in Vietnam to be advised on how to explore business opportunities in Vietnam at info@gbs.com.vn or visit: https://gbs.com.vn

More information about the report on Vietnam can be found on ADB website

Foreign financial institutions set their sights on poorly-performing banks of Vietnam

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Foreign financial institutions were eyeing up poorly-performing banks in Vietnam after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the banking industry

According to Mr. Nguyen Chi Hieu, a banking expert in Vietnam, M&As in the banking industry had remained quiet for the past two years after witnessing a record from 2011-16.

However, things were warming up this year as the Government wanted to speed up the restructuring of ailing banks while small banks also had to increase capital to meet the SBV’s Basel II regulations by 2020. Said Mr. Hieu.

“The Vietnamese financial market holds a lot of potential, but license applications to establish a bank are very difficult, so purchasing shares in local banks or acquiring a 100 per cent stake in ailing institutions are the best options for foreign investors,” Hieu added.

Last week, J Trust Corp, a Japanese-based firm expressed an interest in acquiring a stake in the Construction Bank (CB) – one of three State-owned banks had been taken over for Zero Vietnamese Dong since 2015 to prevent a systematic collapse of the banking system due to its inability to settle soaring bad debts.

During a meeting with Vuong Dinh Hue, Deputy Prime Minister of Vietnam on Friday, Nobiru Adachi, Senior Managing Director of J Trust, said his firm wanted to involve in the restructuring of CB.

Besides the capital contribution, J Trust would also support CB in terms of technology and financial operations, Adachi said, expressing his hope that the Vietnamese Government and the SBV would create favorable conditions for the success of its negotiations and the transaction.

According to Hue, the Vietnamese government provides every possible support for domestic and foreign investors, especially those with strong financial and governance capacity as well as experience in banking, to take part in restructuring poorly-performing Vietnamese banks.

Although the Vietnamese Government has no plans to establish more wholly foreign-owned banks in the country, it encourages foreign investors to participate in restructuring weak banks and then become an entity holding 100 per cent of capital in line with domestic legal regulations.

Hue asked Adachi and collaborators to continue discussing their offer to submit to the Vietnamese government and the Prime Minister for consideration.

Apart from CBBank, Hue also welcomed the involvement of J Trust, which successfully revived several financial-consumption companies and restructured weak banks in the Republic of Korea and Indonesia, in restructuring other credit organizations in Vietnam.

On the same day, Richard F.Chandler, chairman of the Singapore-based Clermont Group, also expressed his desire to invest in Vietnamese banks during a meeting with SBV Governor Le Minh Hung.

With experience in bank restructuring and bad debt settlement in Brazil, Russia, Japan and India, he said his group wanted to take part in the restructuring of Vietnamese banks, noting that the group wished to make more contributions to Vietnam.

In Vietnam, Clermont Group invested in the Hoan My Medical Corporation in 2013. From six hospitals at that time, Hoan My now comprises 15 hospitals and six clinics, where more than 4,000 employees serve 3.7 million patients annually.

SBV representatives also announced a potential foreign investor was willing to acquire OceanBank – another bank acquired by the SBV for Zero Vietnamese Dong.

– VNS

True story: Be kind to everyone you meet

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An email sent to Vietnam Insider – a fast growing media site in Vietnam – asked for internship opportunity by a student in the United States, but no opportunity available for her there.

After considering her cover letter and resume, the editor responded to her, “I wonder, if you are interested in working at Vietnam International Bank (VIB), one of the largest commercial banks in Vietnam, which has been recognized as the most innovative companies to work for this year?”

“Be kind to everyone you meet because you never know what battles people are fighting”

#bekind #truestory

Vietnam LEDs Market Research Report and Outlook To 2022

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Fast development in Vietnam has resulted in the increase of per capita income in the country and higher demand for power for daily use. This has resulted in price hikes in electricity and LEDs based lighting products are now seen as suitable solution for reducing the electricity consumption at consumer end.

The government has been facilitating the growth of LED products market in the country, which has resulted in rapid growth in the LED products market in Vietnam. Looking at the fast paced growth in the country, many multinational companies have invested in Vietnam in the past 2-3 years for establishing their production facilities in the country.

LEDs market in Vietnam is expected to grow at a CAGR of 18.2% during the forecast period 2016-2022, to reach USD 729.0 million by 2022. The LEDs market in Vietnam has been analyzed based on major application areas-lighting, displays & backlights, mobile devices, signs & boards and others.

The application area of lighting has further been divided into sub-application areas of indoor lighting and outdoor lighting along with bifurcation into the products of bulbs, street lights, and spotlights. The LED lighting segment is expected to grow fastest among application areas for LEDs in Vietnam market.

The study covers and analyzes the Vietnam LEDs market, bringing out the complete key insights of the industry. The report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.

Companies Covered:
New Light Led Technology LTD
Future Electronics LTD
OSRAM
PHILIPS
Green Power Kim Dinh

For more information on the research report, refer to below link:
Vietnam Light Emitting Diodes (LEDs) Market

Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com | +91-9015378249

Vietnam’s digital trade may be worth $42 bn by 2030

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The economic value of digital trade-enabled benefits to Vietnam’s economy is estimated to be worth VND81 trillion ($3.5 billion) but this could grow 12-fold under the right settings by 2030, according to “The Data Revolution: How Vietnam can capture the digital trade opportunity at home and abroad” report released on March 26 by the Hinrich Foundation with the Central Institute for Economic Management (CIEM) and AlphaBeta. The report assesses the current and future potential value of digital trade for Vietnam’s economy.

The value of digital trade is estimated to reach VND953 trillion ($42 billion) by 2030, which is equivalent to 9 per cent of Vietnam’s projected GDP, according to the report.

Potential benefits are spread across all sectors of Vietnam’s economy but are particularly relevant in infrastructure, financial services, manufacturing, and agriculture and food.

The research employed a broad definition of “digital trade” that covers the production, distribution, marketing, and sale or delivery of goods and services – domestically and abroad – supported by cross-border data flows.

Vietnam’s digital exports in 2017 were estimated to be worth over VND97 trillion ($4.3 billion). This makes it the country’s eighth-largest export sector, accounting for 2 per cent of its total export value. If digital trade is fully enabled, Vietnam’s digital exports could potentially increase by almost seven-fold to reach VND652 trillion ($28.7 billion) by 2030.

According to the report, besides creating value from abroad through digital exports, digital trade also supports large productivity improvements in Vietnam’s domestic sectors. Yet, traditional economic measures fail to adequately measure the value of digital trade to exports and Vietnam’s economy.

A robust fact base is therefore crucial to ensure that the value of digital trade is fully appreciated and taken into account when formulating trade and economic policy. This includes assessing (a) the current and future value of the digital trade opportunity for Vietnam’s exports and the domestic economy; (b) perceived concerns relating to digital trade abroad and how these could be addressed without unduly impeding digital trade flows; (c) priority areas Vietnam could focus on in order to fully harness the benefits while managing the potential risks of digital trade.

According to a report on VET

Danang’s former official accused of child sexual assault

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A former deputy head of the Danang City People’s Procuracy has just been accused of sexually assaulting a seven-year-old-girl in Ho Chi Minh City.

Speaking with the media on April 3, the spokesperson of HCM City’s Public Security Department, Nguyen Sy Quang confirmed that they have identified the man who managed to hug and kiss a girl in an elevator at a local building as Nguyen Huu Linh, former deputy head of the Danang City People’s Procuracy.

“Linh has been summoned by police in District 4 and we are working with police in Danang City to investigate the case,” Quang said.

The incident occurred on the evening of April 1 at an elevator in Galaxy 9 Apartment Building in District 4 where Linh was coming to visit his daughter and the girl was returning home on the 10th floor. There were only two of them in the elevator and the man suddenly hugged and kissed the girl despite her resistance. The girl could only escape when the elevator opened. The assault was recorded by a security camera in the area.

It is said that the man had met the girl’s family to say sorry and this was accepted.

But a video clip of the scene appeared on the internet the next day and arousing public anger.

According to police in Danang City, Nguyen Huu Linh retired in June 2018 at the age of 60.

Source: Dtinews

Vietjet receives flagship Airbus A321neo aircraft

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Vietnamese budget carrier Vietjet last week took delivery of a brand new A321neo, registered as VN-A600m, in Toulouse (France) in a ceremony featuring the presence of Vietnamese National Assembly Chairwoman Nguyen Thi Kim Ngan and fellow dignitaries from the Vietnamese National Assembly who were on an official state visit to France.

Fitted out with 230 comfortable leather-covered seats and high-quality carpeting, the first five rows of Vietjet’s spacious new A321neo have been especially designed to accommodate passengers who choose to fly Skyboss, the airline’s premium service.

The aircraft’s interior also features a lively lighting system and a striking décor that create a comfortable and refreshing ambience through the whole cabin.

“We are pleased to be the aircraft manufacturer of choice for Vietjet, one of the fastest growing carriers in the Asian region,” said Jean-Francois Laval, executive vice president Sales Asia at Airbus, at the delivery ceremony in France.

“The A321neo with its maximum flexibility, fuel efficiency, and the lowest-possible operating costs in its size category provides an ideal platform for the carrier’s growth. At Airbus, we are honoured to be a key partner of Vietjet, and we look forward to seeing more of our aircraft flying in its colours,” he added.

This A321neo is also the 60thaircraft of its model that Vietjet has received directly from Airbus, among almost 80 aircraft that the airline is operating. The new aircraft will immediately join fleet operations starting this April.

The official visit of the Vietnamese National Assembly chairwoman to the aircraft manufacturer’s factory and other engine manufacturers underscores the significant commitment of Vietnamese leaders in supporting the development of the aviation industry and other affairs related to technology transfer, and strategic co-operation within the industry.

Since its inception in 2011, Vietjet has been a pioneering airline, positively contributing to the development of the national and regional aviation industry.

In the words of Vietjet’s vice president Dinh Viet Phuong, Vietjet is currently operating a fleet of new Airbus A320 family aircraft with an average age of 2.82 years, making it the youngest fleet in the world.

The A320 family aircraft has greatly contributed to Vietjet’s impressive operation performance, including the airline’s technical reliability rate standing high at 99.64 per centin recent years as well as being one of the airlines with the lowest operating costs in the world.

“The delivery of this new A321neo once again emphasises Vietjet’s great efforts to grow and modernise its fleet, so we can continuously contribute to the growth of tourism and economies across the region, while meeting our utmost objective of bringing maximum comfort, joy, and safety to our passengers,” Phuong said.

Vietjet is the first airline in Vietnam to operate as a new-age airline offering flexible, cost-saving ticket fares and diversified services to meet customer demand.

Vietjet is a fully-fledged member of the International Air Transport Association (IATA) with an IATA Operational Safety Audit (IOSA) certificate.

Vietjet was named “Best Ultra Low-Cost Airline 2018-2019” and awarded the highest ranking for safety with 7 stars in 2018 by the world’s leading safety and product rating website, AirlineRatings.com.

The airline has also been listed as one of the world’s 50 best airlines for healthy financing and operations by Airfinance Journal in 2018.

Currently, Vietjet operates around 400 flights daily, carrying more than 70 million passengers to date, with 108 routes covering destinations across Vietnam and international destinations such as Japan, Hong Kong, Singapore, South Korea, mainland China, Thailand, Myanmar, Malaysia, and Cambodia.

Source: VIR

Singaporean woman claims she was raped in central Vietnam

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Binh Thuan police have opened an investigation after a Singaporean woman filed a complaint saying she was raped by a local man.
On Sunday, the 30-year-old Singaporean woman, whose name has not been revealed, filed a report with the local police, accusing a man, only identified as the manager of the guesthouse where she was staying, of raping her on Saturday night, local media reports said.

The woman, who was in the popular resort town of Phan Thiet in Binh Thuan Province on vacation, said she and her friend went out with the guesthouse manager for dinner and stayed out until late at night. After she returned to her room, he came at 1 a.m. and raped her, she said.

Following her complaint, officers summoned the 26-year-old manager for questioning.

The man denied the charge and said they had consensual sex. However, police said the woman’s body bore signs of sexual assault and that they are continuing the investigation.

In Vietnam, punishment for convicted rapists ranges from two years in jail to death sentence, depending on the seriousness of the attack and damage caused to the victim.

Source: Vnexpress

YouTube shuts down popular channel of Vietnamese ‘thug’ after backlash

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YouTube has terminated a popular channel that chronicles the “thug life” of a Vietnamese man through videos that display excessive violence and law infringement after its owner was arrested on a gambling charge.

The Google-owned platform took action on Wednesday after receiving a formal request from Vietnam’s Authority of Broadcasting and Electronic Information (ABEI) the earlier day.

“YouTube cannot allow this channel to continue to exist or it would risk promoting the unhealthy behaviors and lifestyle of a man who has violated Vietnamese laws,” said ABEI director Nguyen Thanh Lam.

The channel, which goes by the name of ‘Kha BanH’ (Handsome Kha), had a verified badge and garnered over two million subscribers and nearly 400 million views on its hundreds of videos before the shutdown.

It was run by Nguyen Van Kha, 26, a resident in Bac Ninh Province in northern Vietnam.

Kha became an Internet sensation idolized by many Vietnamese youths, even though his videos do not document anything other than himself gambling, engaging in gang fights, destroying properties, and breaking traffic laws.

His channel has been awarded the YouTube Gold Play Button for topping one million subscribers.

According to Kha, in his best months he could make nearly US$20,000 a month in YouTube payment for displaying ads on his videos.

In one of his videos, Kha could be seen surrounded by students in the northern province of Yen Bai as he taught them how to do his iconic “hand fan dance” to the amusement of the young audience.

Kha was arrested in Bac Ninh on Monday for the allegedly organizing gambling.

At the time of his arrest, Kha also tested positive to narcotics use, said Ngo Cong Khoi, head of the criminal division of Bac Ninh Police.

Weapons including machetes, batons and knives as well as evidence of his gambling ring were also confiscated during a search of Kha’s residence, Khoi said.

“Officers also found documents that suggest Kha is involved in some kind of loan shark activities,” the police chief added.

Nguyen Van Long, police chief of Bac Ninh, said officers are expanding the investigation and collecting more evidence to prosecute Kha and associates for their crimes.

Kha has a history of criminal activities and was in 2017 arrested for inflicting injuries and disrupting public order, Long said.

Source: Tuoitrenews

Vietnam rejects international finding on Hanoi air pollution

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Hanoi has been ranked the second most polluted city in Southeast Asia on the basis of incomplete data, says Vietnam.
Vo Tuan Nhan, deputy minister of Natural Resources and Environment, said at a Tuesday press conference that the World Air Quality Report released early last month, which says Hanoi had the second worst air quality in Southeast Asia, is not precise.

The report surveyed air quality in over 3,000 cities globally by measuring PM2.5 levels, referring to particulate matter of up to 2.5 micrometers (PM2.5) in size data, regarded as the pollutant with the most health impacts.

In Southeast Asia, however, data has been used from 20 cities in four countries – Indonesia, Thailand, the Philippines and Vietnam.

“Due to the lack of full data from 11 Southeast Asian countries, there’s no convincing evidence to jump to a conclusion that Hanoi is the second most polluted city in Southeast Asia,” Nhan said.

Nhan admitted that the concentration of PM2.5 in Hanoi has exceeded the permitted level, but only on some days, especially in the first three months of 2019, and the pollution was not widespread.

PM, or particulate matter, is the term for a mixture of solid particles and liquid droplets found in the air. PM2.5, also described as super fine particles, is a fraction of the width of a human hair, which is released from vehicles, industry and natural sources like dust.

Nhan blamed Hanoi’s worsening air quality on dense traffic, emissions from construction projects, industrial facilities and waste burning.

The ministry will work closely with the city’s leaders to take more feasible measures to improve air quality in the capital, he said.

He also said that in the coming time, the ministry is planning to install 80 more automatic air monitoring stations across the city, allowing the public to keep track of air quality every day.

The World Air Quality report compiled by Greenpeace and Switzerland-based air quality monitor IQAir AirVisual showed the average PM2.5 level in Hanoi last year was 40.8 micrograms per cubic meter of air as opposed to 45.8 in 2017. The World Health Organization (WHO) Air Quality Guideline recommends an annual mean exposure threshold of 10 μg/m3 to minimize health risks.

Although Hanoi has seen the improvement in air quality over the past year, it remained among the most polluted capital cities in the world, the report said, ranking it 12th among the 62 most polluted cities globally in 2018 and second in Southeast Asia, after Indonesia’s Jakarta.

The 2018 Sustainable Cities Index, commissioned by Arcadis, an Amsterdam-based design and consultancy firm, ranked Hanoi among the least environmentally friendly cities in the world.

The city of eight million people has more than five million motorbikes and 550,000 cars. Data shows the number of private vehicles has been increasing at a rate of 4.6 percent annually, but the amount of land allocated for transportation projects has only been expanding at a rate of 0.4 percent.

In its pollution fight, the city legislature made a controversial decision last July to approve a ban on motorcycles by 2030.

The ostensible aim was to boost use of public transportation, including a new metro system, but this is a poorly developed sector in the capital city.

Source: Tuoitrenews

Vietnam’s national football team are valued at €1.73 million by Transfermarkt

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Vietnam’s national football team is worth nearly US$2 million, according to figures published by Transfermarkt.com, a football statistics site.

The squad and player values of Vietnam were made available for the first time on Transfermarkt, with the team’s total market value estimated at €1.73 million ($1.93 million) as of Tuesday.

Transfermarkt.com’s calculation was made on lineups that played for Vietnam at the Asian Cup 2019, their most recent international tournament.

The most valuable player in the team was goal keeper Dang Van Lam, who currently plays for Thailand’s Muangthong United, with a worth of €300,000 ($336,039).

Midfielder Luong Xuan Truong, who plays for Thailand’s Burriram FC, came second at €200,000 ($223,987).

Nguyen Cong Phuong, a striker of South Korea’s Incheon United, and midfielder Nguyen Quang Hai and defender Doan Van Hau, both playing for Hanoi FC, were ranked at the same worth of €150,000 ($168,075).

Hanoi-based Viettel FC midfielder Nguyen Trong Hoang was valued at €125,000 ($140,052), while defender Do Duy Manh of Hanoi FC and Viettel’s Que Ngoc Hai both had the market value of €75,000 ($84,031).

Five players were estimated at €50,000 while the others were listed at €25,000.

This is the first time the entire lineups of Vietnam’s national football team have made Transfermarkt.com’s value list.

Before the 2019 Asian Cup, Vietnam’s squad was modestly valued at €260,000, as only four players – Xuan Truong, Cong Phuong, Trong Hoang and Van Lam – appeared in the football transfer site’s data.

The latest update of Team Vietnam on Transfermarkt apparently came after a string of successful tournaments of the Golden Stars.

Vietnam finished second at the 2018 AFC U-23 Championship and sealed the fourth position at the 2018 Asian Games. They also won the 2018 AFF Cup and advanced to the 2019 Asian Cup’s quarterfinals.

According to a report on Tuoi Tre

E-commerce helps Vietnamese products reach foreign markets

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Vietnamese products have great opportunities to reach foreign markets thanks to global online distributors such as Amazon and Alibaba.

According to the Ministry of Industry and Trade, about 200 Vietnamese firms have sold products on online trading site Amazon. Meanwhile, about 1,000 others are partnering with Alibaba.com – a world leading e-commerce platform focusing on business-to-business activities.

Through Alibaba, Vietnamese products can reach 260 million customer companies from 240 countries and territories worldwide.

According to Pham Dat, General Director of Fado Vietnam, the biggest markets of Alibaba are the US and the EU.

Vietnam and the Chinese firm signed a cooperation agreement on March 14 in Ho Chi Minh City to launch a new trading channel supporting Vietnamese firms, especially small- and medium-sized enterprises (SMEs).

Dat said cooperation with Alibaba will enhance Vietnamese SMEs’ capacity to seek foreign partners.

Fado Vietnam and Alibaba will focus on promoting strong Vietnamese products such as wooden furniture, footwear, foodstuff and beverages.

At the same time, joining the Amazon Global Selling programme will help Vietnamese firms reach more than 300 million buyers and get more chance to export their products to the world.

Amazon now covers 185 countries, along with more than 175 fulfillment centres supporting the delivery of products to different countries.

Amazon commented that Vietnam is strong in household appliances, garment, footwear and leather and handicraft, which are easily sold on Amazon. Vietnam also has a large community of youngsters with high capacity for e-commerce and online trading.

It advised Vietnamese firms to improve their foreign language skills and trademark building capacity, while paying greater attention to products’ origin and quality to be successful in global e-commerce platforms.

Nguyen Ngoc Dung, Vice President of the Vietnam E-Commerce Association (Vecom), said if a company is qualified to sell its products on Amazon, customers tend to search for its products on Alibaba also.

Stressing that cross-border e-commerce is becoming an important channel for businesses in export, he said that Vecom will strengthen promotion and training activities to get products of traditional craft villages available online.

In 2019, the Ministries of Industry and Trade plans to organise programmes to support businesses to enhance export capacity in online retailing and provide them with information on export opportunities.

Besides, the ministry will guide enterprises to improve their products’ designs and complete administrative procedures for exporting

According to a report on VNA