Which is the best business to start in Vietnam?

Advertisements

Vietnam considered as a land of opportunity for both local and foreign investors. An institutional investor knows exactly which is the best strategy, but to individual investor,  which is the best business to start in Vietnam?

As a professional investment consultant in Vietnam, Global Business Services Company (GBS | Vietnam) shares with Vietnam Insider the most preferred industries by foreign invested SME companies, which used the services of GBS to set-up their business in Vietnam. Details as below:

1. Restaurant and Bar

Both locals and expats in Vietnam love good meals and drinks. If you like to spend money on the entertainment industry, starting a restaurant and bar is a very lucrative niche in this industry. You might consider establishing a night golf club where people can relax and unwind after a difficult day’s job.

2. Garment and Textile Items

Garment and Textile producing is another lucrative business in Vietnam because Garments and Textiles are among items that Vietnam exports. You may also focus on making ready-to-wear clothing or start your personal clothing line. However, if you think that it would be too costly to begin your own textile and garment Production Company, you may become a cloth merchant or start an on-line clothing shop. All these businesses are profitable equally.

3. Home furniture Making and Remodeling

Home furniture making is a great business because nearly every office or home you step into offers one furniture piece or the additional. Asides that, a whole lot of businesses and businessmen far away source for home furniture from Vietnam that they take to their countries for resale.

4. Exportation

Vietnam exports a whole lot of items like rice which really is a world staple, coffee, Crude oil, shoes, rubber, seafood; electronics; there are simply so many points that you could sell to purchasers from various other countries. To get worldwide buyers, just visit a website like Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site.

Hochiminh City, Vietnam – August 2, 2015: Maritime transport on river, container loading vessel on water, residential and apartment at riverside, scene of industrial city, Vietnam, August 2, 2015

5. Detergents and Cosmetics

Detergents are utilized by almost everyone for washing and house cleaning. There are therefore many brands of detergents in Vietnam, but that doesn’t imply that you cannot develop something unique and various. There would continually be a demand for a thing that is unique, different from the standard and solves a problem.

6. Used Car Dealer

Everyone in Vietnam loves a nice, clean, brand new vehicle but sadly, not everyone can afford it. This is why a lot of people resort to buying used vehicles. Used car dealers make a lot of money just from helping people sell their used vehicles or importing used cars from other countries for sale.

7. Real Estate brokerage

Another rewarding business you can begin in Vietnam is definitely building or buying properties for resale. With the amount of expatriates and immigrants getting into Vietnam, real estate can be a business you won’t regret. You can set-up a company to purchase aged properties to renovate and resell; you can build workplace blocks for lease or small housing models for rent as well.

8. Marketing Consultant

As the country’s economy continues to improve, more foreigners are coming in and more locals are beginning to look to starting a business. Most of these entrepreneurs or corporations usually require an independent consultant to help provide marketing services for them. For you to be a successful marketing consultant, you should have knowledge about industry trends, markets, demographic and sales results.

9. Pet Shop and Supply

Pet care in Vietnam has been growing due to the gradual increase in the pet population, busier lifestyles and rise in the humanization of pets. Cat and fish are the most preferred pets in Vietnam especially in the big cities, and due to health and wellness trends, more pet owners are willing to spend more on packaged pet food. Most pet owners prefer international brands to local brands and so you should take this into consideration when looking to start your pet shop business.

10.Translation and Transcription Services

As more foreigners continue to move into Vietnam to explore business opportunities, starting a translation and transcription service can be a savvy move for an enterprising entrepreneur. You will need to determine the kind of services you intend to offer your various clients and in order to create awareness, you will need to advertise and engage in publicity strategies.

 

Need legal assistant before starting your own business in Vietnam?

Contact

GBS | Vietnam

Email: info@gbs.com.vn | Hotline: +84903189033

Website: https://gbs.com.vn

Tea vs Coffee: The battle for the Vietnamese tastebud

Advertisements

Ho Chi Minh city (HCMC), also known as Saigon, is Vietnam’s largest economic hub and represents the land of opportunities for many investors and entrepreneurs.

With higher income and living standards and a big proportion of Millennials, the city witnesses a mushrooming number of tea and coffee shops opening (and also closing) every day, ranging from global giants, regional chains to local chains, start-ups and small independent stores.

This not only brings more choices for consumers to hangout but also increases the competition amongst providers. Popular brands to name a few are Starbucks, the Coffee Bean & Tea Leaf coffee giants from the US; regional tea chains, mostly from Taiwan, such as Gong Cha and Koi Thé (also known as 50 Lan in Taiwan) and The Alley to local chains like The Coffee House, Highlands, Trung Nguyen and the countless number of independent local stores.

Some of them target the young generation whereas others focus on middle age consumers. Some positioned themselves as take-away shops, whereas others provide comfortable places for consumers to stay for longer, providing large spaces and public amenities.

Vietnamese drinkers also come to tea and coffee shops for various purposes. Teens and students (Gen Z) prefer to gather with friends or to study while Millennials and older groups tend to spend time there with their family, to work or even have meetings. The young generations, especially Millennials, who go out more will be the key target group to shape the future tea and coffee drinking trends as well as to boost the growth of Out-of-Home consumption.

Surprisingly, in Ho Chi Minh city, the size of tea including RTD (ready-to-drink) and RTS (ready-to-serve) tea is almost double that of coffee, according to the initial data of Kantar Worldpanel’s Out of Home (OOH) panel conducted in the city (1). What is the reason behind tea taking such a broad lead on coffee?

Tea-based drinks are proven more popular by penetrating over half of the HCMC population while coffee reach is about one third of the city’s population. Among the top choices for savoury tea drinks, milk tea is the favourite option, which has been on average, bought by one out of five Saigoneses at least once in September 2018, followed by peach tea and matcha or green tea. Consumers are also willing to pay much more premium prices for the top three tea drinks, which is 1.5 to 2 times higher than other tea-based choices. Furthermore, Vietnam milk tea market is heating up in recent years. The number of franchise stores has exploded from street corners to shopping malls, thanks to many foreign players which have been expanding into the land especially in key cities. As such, the bubble tea market is expected to enjoy a tremendous growth and continue evolving with a wider variety of brands, flavours and toppings.

On the other hand, although Vietnam is the world’s second biggest coffee producer, coffee earns less from consumers for out-of-home beverage consumption as it tends to appeal less to the mass (unlike tea) and attracts a more unique consumer base that are frequent coffee drinkers. Traditional Vietnamese black (ca phe den) and brown coffee (ca phe sua) are amongst the most popular coffee choices. However, the market observes modern or western-influenced coffees like cappuccino, mocha and ice-blended coffees (frappe) are rising in popularity, accounting for ¼ of the category revenue. This is definitely something to keep an eye on and to monitor regularly in the coming months and years to see how the new coffee styles along with the growing number of modern coffee chains are making a bigger play and impact on the more classical and traditional types of coffee styles.

In terms of places HCMC consumers usually go out for tea and coffee, the top three branded shops conquering HCMC citizens today are The Coffee House, Phuc Long and Highlands. Interestingly, within these coffee shops, coffee drinks account for half of the consumer spending only while other beverages such as tea, fruit juices and soft drinks dominate the other half, which means they are also important SKUs for coffee retailers.

Looking forward to 2021, Ho Chi Minh city is being ranked as second fastest growing city among the top 20 cities in Asia, just after Delhi (India) by Oxford Economics. It promises huge opportunities amidst fierce competition driven by high demand and fickle-minded consumers that are less likely to be loyal to any particular brand. Ones with a “business as usual” mindset today may lose their ground tomorrow if they don’t keep up with the rapidly changing retail landscape and the consumers’ changing needs for better quality and more premium taste or experience. The success recipe lies in the hands of those who are strong in equity for long-term investment, well-informed and agile in adapting to market changes and intuitive in innovating to keep exciting and engaging with their customers.

(1) Kantar Worldpanel has officially launched Out-of-Home (OOH) Panel in Vietnam last September 2018. The OOH Panel regularly measures major convenience foods and beverages that Vietnamese individuals purchase for consumption away from home. This consumer panel research applies state-of-the-art technology in data collection via smart-phones. Consumers report all their shopping trips in real-time via an application with barcode scanning function.

According to a report on Kantar

Eximbank launches ChatBot for 24/7 customer care

Advertisements

Vietnam’s  Eximbank just has launched its ChatBot online support tool – developed from the artificial intelligence platform FPT.AI – to serve customers 24/7, presented with the name ‘Mai’ on its website and Facebook page.

“This pilot study will operate for at least 1 month in order to better understand customer demand and feedback for continuous improvement”. Mr. Rahn Wood – Eximbank‘s representative told Vietnam Insider.

In recent years, with the rapid development of the Industrial Revolution 4.0, the banking and finance industry has rapidly adopted advanced technologies into its business model. ChatBot is a specific application that has been launched by many banks and other financial institutions around the world as well as in Vietnam in order to provide prompt support to customers.

With this application, frequently asked questions about Eximbank’s products and services will be answered immediately by Mai. Questions are available in the database no matter what time of day (ie. 24 / 7) wherein users can be directed to suitable content or contact methods. FPT IS Information System Company is the vendor that provides and deploys this chatBot system.

“In essence, or new ‘Mai’ ChatBot is an online tool that can represent as a professional consultant for enhanced customer care. Since June 2018, Eximbank has cooperated with FPT IS to build this application. So far, we have completely built an application to serve customers’ most popular demands such as: Advice on bank cards issued by Eximbank, Promotion programs for depositors at Eximbank, Location of Branches/Transaction Offices and ATMs throughout Eximbank’s network and some other frequently asked questions. We believe this exciting new technology will provide customers with faster and higher quality service experiences in the digital age.” – said Mr. Rahn Wood.

ChatBot is built based on the newest technology waves of Artificial Intelligence, Machine Learning, Natural Language Processing and Big Data. During this initial stage, for questions that ChatBot cannot answer, the Machine Learning technology will automatically record questions and after Eximbank’s staff respond to the customer, the new data will be used to train Eximbank’s ChatBot answering similar questions afterward. In the medium term, the ChatBot will be automatically trained to improve better and develop more functions to meet the higher and higher requirements of customers.

“In Vietnam, FPT is the pioneer in developing artificial intelligence platform that allows developers to create chatbots easily. Thanks to the application of the most advanced technologies such as natural language processing, artificial intelligence the Chatbot developed from FPT.AI platform can understand the intentions and content that customers demand, from there. Providing accurate feedback, helping businesses to stay connected with customers and thereby reducing the proportion of unsatisfied customers. So far, more than 1,000 chatbot applications have been created on the FPT.AI platform. These applications enhance the user experience in many areas such as telecommunications, e-commerce, banking, or public administration, and help reduce operational costs for businesses. ” Said Mr. Duong Dung Trieu, Chairman of FPT IS.

In early September, Eximbank also deployed Infosys Finacle Core Banking software solution to replace its old Core Banking system. This transformation aims to develop more products – services, tight internal management and alignment of the banking system, creating a foundation for improving customer service, risk management and more efficient services.

The launch of its ChatBot application is a significant first step in building up its digital capabilities as well as a modern and dynamic orientation for Eximbank in the era of Industry 4.0.

More information about Vietnam’s Eximbank can be found at: http://eximbank.com.vn

Unqualified foreign English teachers hired overseas because of their “token white face”

Advertisements

Australian travelers teaching English overseas without qualifications cause alarm

Education experts in Australia have voiced concern over the number of unqualified foreign English teachers hired overseas because of their “token white face”, and the lasting negative impact it could have on students.

Key points:

  • Learning English has been growing in importance in Asia over the last few decades
  • Recent report says two-thirds of the 400,000 foreigners teaching in China are unqualified
  • Some schools “would rather pay a fine” than hire local teachers

According to a report by Tasha Wibawa and Bang Xiao on ABC News, China is one among many Asian countries — including Indonesia, Malaysia and Vietnam — struggling to regulate unqualified foreigners teaching English as a Second Language (ESL).

A recent report by state-owned Xinhua news agency said two-thirds of the 400,000 foreigners teaching in China in 2017 were unqualified, with some also working on incorrect visas.

Lynette Kim, director at TESOL Australia, told the ABC that foreigners becoming teachers without formal training could have a lasting negative impact on both students and the teachers themselves.

Jake Sharp is one of many qualified English teachers in Vietnam who enjoys the financial freedom of working overseas. (Supplied: Jake Sharp)

She said it could affect students’ pronunciation, vocal expressions, their ability to learn how to form sentences, and even their interest in continuing to learn English.

“They are coming in thinking I’m going to … make some money and get out of here,” she said.

“[They] get very exhausted, they get very stressed, they start to hate [teaching if] they’re doing it only for the money.”

Former Gold Coast resident Jake Sharp was 27 when he decided to move to Vietnam because he, like many other young Australians, enjoyed the adventure of living in a new country.

Mr Sharp, now an accredited English teacher, said teachers in Vietnam earned a good wage and many Australians decided to stay for the long-term because living costs were much cheaper.

However, many English language centers in Vietnam hired native English-speakers without qualification — as long as they looked the part, he said.

Schools ‘would rather pay fine’ than hire local teachers

Ms Kim, as well as several other teachers the ABC spoke to, said that many schools overseas hired foreigners for their “token white face”.

“People think unless you have that western person [teaching in the school] you’re really not going to get that culture right, and to some degree that’s true,” she said.

French-British national Nathaniel Kempster arrived in China on a student visa in 2006.

He told the ABC he was approached to teach in a kindergarten on his second day and did not have a valid working visa.

“You don’t even have to be a native [speaker] to get good pay, you just have to have a ‘white face’ — that’s the most important — that’s the first criteria,” he said.

PHOTO: Nathaniel Kempster works as a private tutor after being told he could no longer teach in a kindergarten. (Supplied)

He taught on weekends for six months before officials questioned his credentials.

“One Saturday morning I was teaching. All of a sudden, about ten different agents walked in, all with cameras filming us,” Mr Kempster said.

“Kids were absolutely terrified, and no one understood what was happening. And I spent the night in the police centre.”

But Mr Kempster said schools with foreign teachers made a lot of money, so his employer would prefer to pay a fine than hire local teachers.

“[The school] knows that they are going to make an enormous amount of money from that teacher, so paying a fine is a very small thing compared to the amount of money they will make over time,” he said.

“In China, being western is viewed as being superior,” Mr Kempster said.

“Also, the fact that you’re western, [people think] you are obviously super good at English, even though some people aren’t.”

Photo: Daniel Hiers was teaching in China before his criminal past was reportedly discovered by a student. (US Marshals)

The absence of vetting procedures has not only led to untrained teachers, but criminal backgrounds have also gone undetected.

Mr Sharp said in Vietnam, foreigners were often hired without background checks.

“The [English] centers are often not regulated — people are working with children without having to show a police check,” he said.

In Shanghai, one student found her college English teacher, Daniel William Hiers, on a US list of the 15 most wanted criminals, according to Chinese state media CGTN and the Global Times.

The man had been profiled on America’s most wanted list since March 2005 for murder and criminal sexual conduct.

Some people teach just ‘to stay afloat’ financially overseas

Indonesian law requires English teachers to have a masters degree and a minimum of five years teaching experience to teach in an international school.

But teachers who meet these requirements are becoming increasingly difficult to find as the demand to learn English increases.

Some schools have chosen to work around these requirements.

Yusuf Muhyidin, director of tutoring from the Ministry of Education in Indonesia, said unqualified teachers could sometimes slip through the cracks.

“Many language courses employ native speakers, but some don’t want to undergo the correct procedures or obtain a permit from the Ministry,” he said.

“This is often due to the time to process and the cost factor.”

However, he said it was not the Ministry’s issue to resolve.

“It’s actually the police’s job to file a lawsuit against those kind of workers,” he said.

Sydney-born Anya Filla-Dwehus, who has been teaching English in China for 18 years, said it could be hard for foreign nationals to work in the field they are qualified in due to strict Chinese Government regulations.

“While some are actual teachers back home, I’ve come across some people who are basically passing through and it’s just something for them to stay afloat,” she said.

There are conflicting reports on regulations around foreign teachers.

A Xinhua article published in July said it took at least four months to hire a foreign teacher by following the correct legal process.

Foreign teachers also need a bachelor’s degree, two years of relevant work experience or a teaching qualification to obtain a work permit, the report said.

But Zhang Fucheng, vice-president of Yanshan University, told Xinhua in a separate article last September that there were currently no laws and regulations for foreign teachers in China.

“Legislation should be completed as soon as possible to improve the standards and methods for the appointment of foreign teachers, and their legal status, rights and obligations,” Mr Zhang said.

PHOTO: Lynette Kim (far left), director of TESOL Australia, says many foreign schools want “the token white face”. (Supplied: Lynette Kim)

English language skills seen as key to children’s future

Learning English has been growing in importance in Asia over the last few decades.

International language company Education First (EF) revealed in their English Proficiency Index that Asia has the second highest non-native English speaking population, second only to Europe.

The company’s 2017 report — based on test data from more than 1 million participants — also found that adult English proficiency levels are directly correlated to the country’s ranking in the United Nations Human Development Index, which measures the standard of living and economic growth among other achievements.

Economic development offered new incentives and resources to learn English, the report said.

Ms Filla-Dwehus said Asian parents saw learning English as a key pathway to a successful career.

In China parents want their children to be fluent in English, she said, and be able to pronounce words “just like a foreigner”.

“[Parents] want to have that skill already developed before they get into secondary education.”

Read original article on ABC News here

How to Eat Like a Local in Ho Chi Minh City

Advertisements

Dining, eating and snacking play a large part in Vietnamese culture. Here are five simple ways to chow down like a local in Ho Chi Minh City.

In Vietnam, eating is an essential part of family life, social gatherings and dates. In fact, rather than asking others ‘how are you?’, the Vietnamese will often greet their friends with ‘have you eaten yet?’ With food and dining playing such an important part in everyday life, eating like a local is one of the best ways to experience the culture in Ho Chi Minh City (also known as Saigon).

Vietnamese cooks in a steaming-hot street food marquee | © Michael Davis-Burchat / Flickr

1. Go where the locals go

In Western culture, it’s common to search out a restaurant that has good online reviews. In Ho Chi Minh City, and Vietnam in general, word of mouth is the highest form of endorsement. Recommendations from a local are much more likely to offer a real taste of Ho Chi Minh City’s dining culture than the places listed online.

However, if you’re struggling to find local recommendations, simply head to the busiest spot on the street! The residents of Saigon vote with their feet, and the best places to eat tend to be the ones that are full to the brim almost every day of the week.

2. Don’t judge a book by its cover

Many of the most renowned places to eat in Vietnam are not fancy restaurants or five-star establishments but small, family-owned eateries. These places usually appear to be nothing more than a room full of plastic stools and tables, spilling out on to the pavement. But although they may not be much to look at, often they provide some of the best local dining experiences (and cuisine) in the country.

Pull up a stool: Ho Chi Minh City’s street food scene | © Paul Gallow / Flickr

3. Budge up

One of the best things about Ho Chi Minh City’s street food scene is that there’s always space for one more person. Even when somewhere is overflowing with diners, the staff always seem to be able to magic up enough space for another table. It may take a little manoeuvring to squash yourself into the crowd, followed by folding your limbs in half to perch on a miniature stool, but it’s worth it – what better way to experience authentic Vietnamese dining than amid a bustling crowd at a local restaurant?

4. Try the ‘bestseller’

When it comes to menus in Ho Chi Minh City, sometimes less is more. Some of the best restaurants only offer one or two dishes, and the fantastic flavour of their bestseller normally explains why. Don’t be surprised if the food from the simple restaurant that only serves one thing is much tastier than the restaurant that plates up 100 dishes.

5. Throw everything in your bowl!

Occasionally, visitors come away from Vietnam complaining that the food lacked flavour. But this is likely to be because some restaurants allow customers to season food to their own taste. So, if you find yourself surrounded by condiments, salads and spices, use them!

Flavour your Vietnamese dishes with the many condiments, salads and spices on your table | © Snips / Wikimedia Commons

By Isabelle Sudron,  The Culture Trip

Traffic congestion costs Hanoi USD1.2bn a year

Advertisements

Hanoi is losing USD1-1.2bn a year due to traffic congestion according to the Transport And Development Strategy Institute under the Ministry of Transport.

The figure was announced by Pham Hoai Chung, director of the Transport And Development Strategy Institute, at a conference about reducing congestion and air pollution held in Hanoi on October 24. The city lost over 1 million working hours to congestion a year.

He then raised warnings over public health because of worsening air pollution problem.

Uneven population density is one of the main cause as most people want to work and live in the city’s centre. The rising number of private vehicles and slow development of local infrastructure has also been blamed. Hanoi has about 5.5 million motorbikes and nearly 500,000 cars. From 2010 to 2017, motorbike numbers grew 10%, while cars increased 8%, compared to an 0.39% increase in road surface.

Lieutenant Colonel Nguyen Manh Hung, deputy head of the Road and Railway Traffic Police under the Hanoi Police, also said that local infrastructure was too weak as traffic at some roads exceeded capacity six to seven times.

In Vietnam, land for traffic remained at around 6-7% of the total urban area, much lower than the required 16-26% under the Law on Road Traffic or the 20-25% at developed countries. Hung said that too many apartment buildings and increasing numbers of private vehicles were putting pressure on the infrastructure and causing congestion.

Ngo Manh Tuan, deputy director of Hanoi Department of Transport, said they had built a plan to improve the infrastructure during 2010-2020 period. The city is completing the ring roads 1, 2 and 3 as well and expanding roads to the city’s centre. The department was asked to build a plan with a view to 2030 to significantly ease congestion in the capital.

The city has tightened management over public and private vehicles in 2017 and 2018 and will carry out the motorbike ban by 2030.

Quang Phong report on Dtinews

Saigon restaurant managers arrested for pimping

Advertisements

The Saigon police carried out a raid of a downtown restaurant Wednesday night, and allegedly caught waitresses in compromising positions with customers.
Dozens of officers blocked off both ends of a section of Tran Quang Khai Street in District 1, a 15-minute drive from Ben Thanh Market, before raiding Thanh Vinh Restaurant.

In so-called VIP rooms, dozens of waitresses in skimpy clothing were found flirting with drunken male customers, they said.

The police said the restaurant has committed many violations like offering sex services.

Another group of officers raided a nearby hotel and caught two women having sex with guests. The women confessed they were waitresses at the restaurant and sent to the hotel to have sex with drunk customers for VND2 million ($86).

Three restaurant managers were arrested for brokering sex services for which they received a VND1 million ($43) bonus each time they had a client.

The raid was part of an ongoing campaign to crack down on dubious and often illegal activities by restaurants and bars, particularly in the tourist area.

Official data estimates there are 3,000 sex workers in Saigon. A study by the International Labor Organization suggested that sex workers are among the most vulnerable in Vietnam as they have to deal with regular police raids, risks of sexually transmitted diseases, and persistent fear of theft and violence.

Sex workers and their customers are not considered criminals under Vietnam laws, but those brokering the service can face jail terms.

Quoc Thang report on Vnexpress

Bamboo straw introduced to reduce single-use plastic

Advertisements

A local craftsman from central Việt Nam is trying to replace single-use plastic straws with reusable bamboo alternatives at hotels, resorts and restaurants in Hội An, Đà Nẵng, Nha Trang and Phú Quốc.

Võ Tấn Tân said the project started early this year to raise a campaign to say no to plastic straws and single-use plastic cups in Hội An.

He said bamboo straws were the latest environmentally friendly product being made at his workshop in Cẩm Thanh Commune – an eco-tour site – that boasts 40ha of nipa palm forest.

Tân said he also offered a tour that to teach guests about traditional crafts made from bamboo and a kayaking tour to clean up the river.

The craftsman said his workshop could produce 20,000 bamboo straws each month without the use of chemicals.

Cẩm Thanh Cmmune – 5km from Hội An – offers bicycle tours and trips in coracle boats through the nipa palm forest. Earlier this year, the International Union for Conservation of Nature (IUCN) launched a communication campaign to promote the non-use of plastic bags as a prelude to its sea turtle conservation programme on Lý Sơn Island in Quảng Ngãi Province and Chàm Island in Hội An.

The programme, entitled Down 1 bottle, Save the Future, aims to encourage hotel owners and tour operators to provide free drinking water for tourists visiting the Lý Sơn Islands following an initiative, Refill, Not Landfill.

Source: VNS

Vietnam drinks its way to being Asia’s third-biggest alcohol consumer: study

Advertisements

Vietnam’s alcoholic beverage market is becoming a battleground for several foreign beer producers looking to carve out a foothold in Asia’s third-largest alcohol consuming country.

Vietnamese men are among the top alcohol consumers in the world, according to the 2016 Global Burden of Disease Study, a survey on the consumption of alcoholic beverages in 195 countries and territories taken between 1996 and 2006 and recently published in the UK’s Lancet medical journal.

According to the study, Vietnamese men down more than five standard glasses of alcohol per day, defining a “standard drink” as one containing ten grams of alcohol.

Globally, only Portugal and countries on the Balkan Peninsula matched Vietnam’s seemingly unquenchable thirst.

The report also noted that the proportion of people consuming alcoholic beverages in Vietnam is moderate for men, with 40-60 percent indulging, while less than 20 percent of women consume alcoholic drinks.

Vietnam’s global ranking in beer and alcohol consumption has also increased at an extremely rapid pace.

According to the World Health Organization, Vietnam was the world’s 94th largest beer consumer in 2010. Just six years later, in 2016, it jumped 30 spots to 64th place, making it the third-largest in Asia.

On average, each Vietnamese aged 15 and over consumes 8.3 liters of alcohol per year.

The hike in alcohol consumption also is the drive for Vietnam’s production of alcoholic beverages to continue its rapid growth.

Drive for production

In 2017, Vietnam’s beer production output topped four billion liters, up 10.4 percent from 2016.

This figure means that each Vietnamese consumed 45 liters of beer that year, 1.5 times higher than 2014.

The amount also implies that Vietnam’s alcohol consumption is somewhat beyond prediction as the Southeast Asian country hit the target that its beer industry set out for 2020 four years earlier than scheduled.

As for alcohol, Vietnam consumed 188 million liters in 2016.

The cost of alcohol consumption in Vietnam is about US$3.4 billion a year and makes up roughly three percent of the government’s budget.

According to the Ministry of Industry and Trade, production and revenues in the liquor industry during the first nine months of 2018 achieved 8.8 percent growth compared to the same period in 2017.

Beer production rose 7.1 percent compared to the same period of 2017. Overall 2018 growth is forecast at six percent.

Among that, Vietnam’s biggest beer brewers, Sabeco and Habeco, contributed 1.77 billion liters and 657.6 million liters, respectively.

The remaining quantity is shared by foreign enterprises and small and medium Vietnamese enterprises.

Currently, Vietnam’s beer market has attracted the presence of most of the world’s major beer companies including Carlsberg, Heineken, Masan Brewery, Sapporo, and AB InBev.

According to Nguyen Van Viet, chairman of the Vietnam Beer Alcohol Beverage Association (VBA), domestic brewers have faced tough competition from foreign entrants in 2018.

Vietnam’s beer industry has set a target of producing 4.1 billion liters of beer per year for the next four years and 5.6 billion liters per year by 2035, meaning output is expected to increase by half over the next two decades.

Bao Anh report on Tuoitrenews

Vietnam’s VinFast in deal with PV Oil for electric car charging stations

Advertisements

VinFast on Thursday signed a memorandum of understanding with PetroVietnam Oil Corp. to build charging stations for its electric cars and scooters.
The company, a unit of Vietnam’s largest conglomerate Vingroup JSC, is building a $3.5-billion scooter and automobile complex in northern Vietnam, with its first production electric scooters slated to hit the streets late this year.

Thursday’s agreement will pave the way for VinFast to deploy charging stations at 20,000 of PV Oil’s existing service stations in Vietnam by 2020, VinGroup said in a statement.

This is part of VinFast’s plan to launch between 30,000 and 50,000 charging stations nationwide by 2020, it said.

VinFast customers will be able to charge their vehicles or change their batteries at these stations, it added.

VinFast Chief Executive Officer Jim Deluca told Reuters in an interview earlier this month that the firm would produce 250,000 electric scooters a year alongside 250,000 cars, in an ambitious production target that is set to eventually increase to 1 million units each a year.

The company has started on the development of a battery electric vehicle with Germany’s EDAG Engineering.

Vingroup, which has a market value of about $13.2 billion, also has businesses in property, hospitality, entertainment, retail, healthcare, education, agriculture and smart phone production.

($1 = 23,350 dong)

Source: Reuters

October 25: VN-Index down 1.36%

Advertisements

All indexes close in negative territory.

Vietnam’s stock market had a poor October 25 as global and regional markets also stumbled.

On HSX, the VN-Index closed at 910.17 points, down 12.56 points (1.36 per cent), while the VN30-Index closed at 888.86 points, down 7.64 points (0.85 per cent).

On HNX, the HNX-Index finished at 103.10 points, down 0.63 points (0.61 per cent), the HNX30-Index 186.2 points, down 0.6 points (0.32 per cent), and the UPCoM-Index 51.29 points, down 0.22 points (0.43 per cent).

Liquidity on HSX was VND3.6 trillion ($154.3 million) and on HNX was VND477 billion ($20.4 million).

Food and beverage stocks to gain ground included MSN, by 3.3 per cent, as BID lost 4.3 per cent, VCI 4.2 per cent, and VPB 2.5 per cent. SAB closed at its opening price.

The only gainer in banking was MSN, by 3.3 per cent, as BID lost 4.3 per cent, VCI 4.2 per cent, VPB 2.5 per cent, TCB 1.5 per cent, VCB 1.3 per cent, SSI 1.1 per cent, CTG 0.9 per cent, STB and EIB 0.4 per cent, MBB 0.2 per cent, and BVH 0.1 per cent.

In energy, NT2 gained 3 per cent, PLX 2.7 per cent, and PVT 0.3 per cent, as PPC lost 1.7 per cent and PVD 0.9 per cent. PGD and GAS closed at their opening price.

The Top 5 shares bought by foreign investors were SSI, CTI, VCB, VRE and NT2.

MSN was the largest net sold share on HSX, followed by HPG, VNM, SVI and NVL.

VNC was the largest net sold share on HNX, followed by TV3, TNG, HUT and PLC.

On UPCoM, foreign investors bought 1,476,600 shares worth VND38.4 billion ($1.6 million).

They net sold on HSX by VND161.86 billion ($6.9 million) and net bought on HNX by VND13.4 billion ($574,970).

Vneconomictimes

Photo contest to promote Ba Ria – Vung Tau kick-off

Advertisements

Both locals and expats are welcomed to join the photo contest Beauty of Ba Ria – Vung Tau (“Vẻ Đẹp Của Du Lịch Bà Rịa – Vũng Tàu) about Ba Ria – Vung Tau Province and its people.

The contest organized by Department of Tourism, in co-operation with its partners, the event aims to promote the area’s tourism. VNS reported.

Images of tourist sites, historic architecture, and traditional culture and lifestyle are encouraged.

The organizers hope the contest will discover new talents and introduce local people and their lifestyles

Submissions should be original works taken after December 2016. They should not have been submitted in previous competitions or exhibited publicly.

The works should be in black-and-white or color, and processed without editing.

Organizers said a high priority would be given to entries focusing on creative and unique views and presentations.

Entries may be submitted as a single photograph, a set of photos, or as a photo essay of no more than 10 items, including captions.

Participants should send their work before November 11 to the organizing board’s website http://thianhnetdepdulichbrvt2018.com or cuocthianhbrvt2018@gmail.com.

Organizers will award six top prizes and six consolation prizes worth VNĐ68 million (US$3,500) in December.

The best photos will be published in newspapers and exhibited in public places in the province.

US or China isn’t going to be the winner of trade war

Advertisements

Vietnam’s furniture industry may gain from the US-China trade war.

The US-China trade war rages on. Barring progress in negotiations, 10% tariffs that the US imposed on $200 billion in Chinese goods will increase to 25% as of Jan. 1, 2019.

According to a report by Dan Kopf on QZ.com, while it seems possible, and perhaps likely, that increased trade restrictions will hurt the average person in the US and China, that’s not the case for every nation. If China isn’t exporting as much stuff to the US, there is an opportunity for other countries to fill the void.

There’s a Chinese proverb for this scenario: When the snipe and clam quarrel, it is the fisherman who profits. In this case, the fisherman may well be Vietnam or the Philippines.

In a recent analysis, World Bank economist Massimiliano Calì found that if all planned tariffs go into effect, US imports from China will fall by nearly $70 billion. This would amount to 14% of all US imports from China. Many of those imports are electronics, machinery, furniture, and vehicles.

In his analysis, which was published by the The Center for Economic and Policy Research, Calì explores which countries might be able to replace those imports. He did this by looking into the Chinese products subject to higher tariffs that other countries in East Asia also produce at a large scale (the analysis focuses on East Asia because countries in this region have the most similar export profile to China). For example, Calì estimates that the value of exported chairs from China to the US will fall by over $400 million. Since Vietnam already exports hundreds of millions of dollars in upholstered chairs to the US, the country is well placed to step in.

After finding the products that each country might be able to replace, Calì then summed the total decrease in Chinese exports to the US in these products, and then divided it by that country’s GDP. The biggest possible winner by this analysis would be Vietnam. He found that if Vietnam was able to replace all of the exports in the products they already produce, it would be equal to 4.4% of the country’s GDP. Other countries that could be winners are the Philippines (4.1%) and Cambodia (3.6%).

Calì points out that this is the absolute most a country might benefit from replacement, so the likely gains are much smaller. Still, he think this is good representation of the potential gains for each of these countries.

The analysis also points out that other East Asian countries risk being collateral damage in the trade war. Taiwan and Malaysia both export a large amount of goods to China that are used in manufacturing the products that are exported in the US. Calì estimates that the trade war could decrease Taiwan’s GDP by over 0.2%. When the snipe and clam quarrel, sometimes the fisherman also gets caught in the crossfire.

Bombs sent to Clintons, Obamas, Holder and CNN – ‘Act of terror’

Advertisements

Authorities have intercepted bombs intended for former President Barack Obama and Hillary Clinton, and several other top political figures were targeted in what authorities are investigating as a connected series of incidents.

Also, CNN’s New York bureau in the Time Warner Center was evacuated after a package containing a bomb, addressed to former CIA Director John Brennan, was discovered, city and local law enforcement officials said.

In addition, sources told CNN that a suspicious package intended for California Democratic Rep. Maxine Waters was intercepted at a congressional mail screening facility in Maryland; New York Gov. Andrew Cuomo received what he said was a device at his Manhattan office; and the San Diego Union-Tribune evacuated its building after “suspicious looking packages” were spotted outside.

Later Wednesday night, two law enforcement sources told CNN that law enforcement officials are trying to track down a package addressed to former Vice President Joe Biden now considered suspicious because of similarities to other packages. The package was misaddressed and returned to sender.

The developments, which unfolded rapidly and continued steadily into the afternoon, touched off fear and confusion and immediately invited questions about the motives of those responsible. The recipients of the packages are all prominent targets of right-wing criticism and, in many cases, of President Donald Trump himself.

“This clearly is an act of terror attempting to undermine our free press and leaders of this country through acts of violence,” New York Mayor Bill de Blasio said at an afternoon news conference.

CNN, citing a law enforcement official, was initially told a suspicious package containing a pipe bomb that was addressed to the White House was intercepted at Joint Base Bolling in Washington, DC. The Secret Service, however, later said it had only intercepted the two packages intended for Obama and Clinton and called reports of a package headed for the White House “incorrect.”

Trump says ‘no resources’ will be spared

Trump: No place for political violence in US 02:06

Trump vowed Wednesday afternoon that “the full weight of our government is being deployed to conduct this investigation.”

“We will spare no resources or expense in this effort,” Trump said at the top of his remarks at a White House opioid bill signing event. He said he had just concluded a briefing with the FBI, Department of Justice, Homeland Security Department and Secret Service.

Package intercepted at Capitol Hill sorting facility was addressed to Maxine Waters
The President — who has recently taken to calling his political opponents “evil” — called for unity in his remarks and said “we have to come together and send one very clear, strong, unmistakable message that threats or acts of political violence have no place in the United States of America.”
“This egregious conduct is abhorrent to everything we hold dear and sacred as Americans,” Trump said, adding, “We are extremely angry, upset, unhappy about what we witnessed this morning, and we will get to the bottom of it.”

His remarks were greeted with a standing ovation in the room.

Devices appear to be similarly constructed

de Blasio: This was clearly an act of terror 01:17

Bryan Paamann, an FBI special agent in charge of the counterterrorism division in New York, said the devices appeared to be pipe bombs. A law enforcement official told CNN that the initial examination of all of the devices shows them to be constructed similarly. At least one of the devices appeared to contain projectiles, including shards of glass. The devices are rudimentary but functional.

Trump, Pence and other GOP leaders condemn suspicious devices sent to Hillary Clinton, Obama, CNN

A law enforcement source said the device found in the Time Warner Center’s mailroom is similar to the ones addressed to Obama, Clinton and billionaire investor and major Democratic donor George Soros, which was discovered earlier this week. The package to Brennan was delivered by courier, law enforcement sources said.
Neither Obama nor Clinton received the packages sent to them or were at risk of receiving them, the Secret Service said. They were discovered during “routine mail screening procedures as potential explosive devices and were appropriately handled as such,” the agency said in a statement.

The package intended for Obama was intercepted in Washington, DC, and the one intended for Clinton was addressed to her in Chappaqua residence in Westchester County, New York, on Tuesday, authorities said.

Speaking in Florida early Wednesday afternoon to campaign for Democrat Donna Shalala’s congressional bid, Clinton said she and her husband, former President Bill Clinton, were “fine” and praised the response by the Secret Service.

A suspicious package sent to the Florida office of Democratic Rep. Debbie Wasserman Schultz was intended for former Attorney General Eric Holder but had the wrong address, two law enforcement sources said. It was returned to the Democratic congresswoman because that was the return label on the package, the sources said, adding that it was the same return address for the packages sent to Obama and Clinton.

On the package sent to Biden and returned to sender, it was not clear if the return address was Wasserman Schultz’s or another address. Authorities are trying to locate it, the officials told CNN.

Packages sent to Soros, Clinton, CNN, Obama, Holder and Waters were all sent with Wasserman Schultz’s office as the return address in manila envelopes with bubble wrap interior, the FBI said in a statement Wednesday. Each package had six Forever stamps on the envelope as well.

The bombs show the presence of a sulfur substance, which could have exploded. The devices were pipe bombs and are inherently unstable, and could have been set off just by handling.

There is no information that suggests Wasserman Schultz sent the packages. The bomb squad was investigating the package discovered at Wasserman Schultz’s office, a local police spokesman said. It was not immediately clear if the package contains a device similar to the others detected around the country.

The Soros package was believed to have been placed in a mailbox rather than mailed, a separate law enforcement source said.

Cops used a big white sphere to move an apparent bomb from CNN’s office building in New York

The package addressed to Waters had similarities to the other suspicious packages, according to two law enforcement sources. One source said that belief was based on the timing, packaging and devices inside the packages, though it was not clear if it was capable of exploding.

Later on Wednesday, a spokesperson for the Bureau of Alcohol, Tobacco and Explosives, Ginger Colbrun, said a second package addressed to Waters had been found at a postal facility in south central Los Angeles. Colbrun told CNN the package matches the description of those sent to CNN and Democratic political figures. The Los Angeles Police Department said the postal facility was evacuated while an investigation takes place.

FBI Director Christopher Wray said in a statement the investigation is the “highest priority for the FBI.”

“We have committed the full strength of the FBI’s resources and, together with our partners on our Joint Terrorism Task Forces, we will continue to work to identify and arrest whoever is responsible for sending these packages,” Wray said. “We ask anyone who may have information to contact the FBI. Do not hesitate to call; no piece of information is too small to help us in this investigation.”

The FBI said it’s possible additional packages were mailed to other locations and advised the public remain vigilant.

The FBI’s counterterrorism investigators are leading the investigation and are handling as a domestic terror matter.

The San Diego office of Sen. Kamala Harris, D-California, was also evacuated after “suspicious packages” were found near the building, but they were not addressed to the senator or her office, a spokeswoman tweeted.

New York device investigated

CNN anchors report outside after evacuation 01:17

The device sent to the Time Warner Center was a “live explosive device,” NYPD Commissioner James O’Neill said at an afternoon news conference, adding that police were also investigating an envelope containing white powder that was found as part of the “original packaging” of the device.

The package was removed from the building late Wednesday morning and was sent to an NYPD facility in the Bronx, a law enforcement official said.

At the news conference, Cuomo disclosed that a device was sent to his Manhattan office and that it was being handled. An NYPD official later told CNN that the device was simply an informational package containing literature.”There’s a number of devices and there’s a pattern apparently with them,” he said.

The NYPD increased patrols at media locations in the city and other potential areas, a spokesman for the department said. Officials from the ATF and Explosives are at the sites of the multiple packages and were at Soros’ Bedford, New York, home on Tuesday, a spokeswoman said. The FBI also is involved in the investigation, the bureau said.

CNN’s Pamela Brown, Sarah Westwood, Josh Campbell, Jessica Schneider, Brynn Gingras, Mary Anne Fox, David Shortell, Brian Stelter, Eli Watkins, Mary Kay Mallonee, Sonia Moghe, Elizabeth Landers and Dan Merica contributed to this report.

Read full report on CNN here

The 6 Must-visit Art Galleries in Ho Chi Minh City, Vietnam

Advertisements

Saigon’s art scene has rapidly evolved from a commercial art hub to an eclectic community of talented and unique contemporary artists. Galleries are crucial to promoting local artists and are often responsible for organizing events outside of classic exhibits to bring the artistic community together. Here are the best art galleries in Saigon recommended by Katie Kalmusky (The Culture Trip) to catch a glimpse of the incredible talent within this dynamic city.

SAIGON OUTCAST

Bar, Market, Restaurant, American, Vietnamese

Entrance to Saigon Outcast in Thao Dien | © Matthew Pike / Culture Trip

Saigon Outcast describes itself as a ‘creative space, magical craft beer garden and graffiti paradise’. This events venue hosts everything from rock climbing and movie evenings to life-drawing classes and acoustic nights. One of the most striking things about Saigon Outcast, though, is the graffiti covering many of the surfaces. This place has some of the most impressive wall art in the city.

LOTUS GALLERY

Art Gallery, Art Museum
This gallery, located in the heart of District 1, makes clever use of its long, narrow interior by placing art work on sliding panels to reveal several paintings underneath. The gallery owners are friendly and informative and will gladly provide details of each piece, as well as a brief history of several artists hailing from all over the country. This private gallery has operated since the ’90s and also features a range of works from portrait style canvas paintings to contemporary pieces

HO CHI MINH CITY MUSEUM OF FINE ARTS

Art Museum

Ho Chi Minh Museum of Fine Arts | © Jon-Eric Melsæter

This is the top-rated art museum within the city. Here, you can catch a glimpse of what the local art scene looks like and what local artists are creating. This dauntingly huge complex features an appealing mix of French and Chinese architectural styles, as it was owned by a Chinese-born businessman who was one of the city’s richest men at the time it was constructed.

CRAIG THOMAS GALLERY

Art Museum
This is one of the older galleries in the city, but it still offers plenty of contemporary artwork. American lawyer Craig Thomas worked in Saigon for many years before he followed his true passion as a collector. Established in 2009, this gallery features many emerging new artists, along with well-known names. A number of exhibitions are held throughout the year and pieces are often created by Vietnamese locals. Like most great artwork, many paintings found here contain important messages behind the brushstrokes.

APRICOT GALLERY

Art Museum
This elegant, stylish gallery located in District 1 houses impressive works from both well-known local artists and newcomers. Originating in Hanoi, this gallery occupies five storeys and features large canvas paintings displayed as though they were in a big-budget museum. Keep your eyes peeled for some lesser known contemporary works by up-and-coming local talent.

DUC MINH GALLERY

Art Gallery, Art Museum
This expansive private art collection is one of the best in the country. Duc Minh was one of Vietnam’s most important art collectors, saving pieces from potential destruction during the Vietnam war. His son, Bui Quoc Chi, has continued the family legacy by preserving the vast amount of pieces that range from from 1920–1990. The current collection has expanded to feature more contemporary works and occasionally, Quoc Chi offers guided tours. If you do find a tour date, grab it; tickets are a little pricey, but they sell out fast.
Exit mobile version