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OTT TV competes to foreign giants

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OTT TV is a playing field where Vietnamese players’ rivals are all ‘giants’, from Facebook to Google to Netflix.

The three big players are targeting Vietnam to provide on-demand movies, TV game show services and live streaming of sports tournaments on social networks. With their diverse services and powerful technology, Vietnam’s OTT TVs have been warned they would be uncompetitive in terms of content copyright and would lose audience to digital content service providers.

NetFlix has been trying to step by step penetrate the domestic market for the last three years, and they have gained initial achievements, though its service fee is higher than domestic VOD service providers.

Buu Dien newspaper quoted its source as reporting that NetFlix has attracted about 300,000 subscribers. An abundance of copyrighted films with subtitles in Vietnamese no ads, and high image quality are its great advantages.

An analyst commented that it is difficult for Netflix to lure Vietnamese subscribers because of the high fee, but most subscribers are loyal.

While their rivals are all powerful and have been upgrading to satisfy Vietnamese customers, domestic content producers are still finding their way.

An analyst said there are four groups of OTT TV players in Vietnam.

The first one, comprising K+, SCTV and VTV, well-known TV operators that shifted to OTT TV, use internet as the transmission platform instead of cable and satellite.

The second group includes mobile network operators such as Viettel, VTC and MobiFone, which use content produced by themselves or other TV channels.

The third group are purely content producers such as Cat Tien Sa and BHD, ones which simply make content but do not have infrastructure but now want to build up apps of their own.

And the last group provides platform service such as FPT Play, Zing TV, Clip TV and VNPT Media.

At present, OTT apps in Vietnam mostly serve audiences for free. However, television stations and media firms tend to transmit entertainment content to audience through OTT apps.

More and more apps to watch TV have come out recently, including VTVgo, VTVcab On, Onme, FPTPlay, ClipTV, VTV Giai tri and VTC Now, which broadcast Vietnamese and international TV channels, sports tournaments, music events, dramas and movies.

SCTV, VTVcab, K+ and VTC all have stated they will provide copyrighted content on OTT TV. However, even the most powerful players still cannot ‘give a push’ to OTT TV. The content shown on OTT TV is mostly television content, not specifically designed for OTT.

According to a report on Vietnamnet

Vegetable, fruit exports surpass crude oil for first time

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Revenue from vegetable and fruit exports has reached more than US$3.1 billion so far, up 17.1% year-on-year and outstripping crude oil export earnings for the first time, Lao Dong newspaper reported, quoting Thao Xuan Sung, chairman of the Vietnam Farmers’ Union.

According to the Agro Processing and Market Development Authority of the Ministry of Agriculture and Rural Development, Vietnam exported US$380 million worth of fruit and vegetables last month.

Speaking at the third National Farmers Forum in Hanoi on October 14, Deputy Prime Minister Vuong Dinh Hue said the revenue from fruit and vegetable exports was likely to hit US$4 billion this year. Crude oil exports to date remained below US$2 billion.

Vietnam currently has 10 agricultural products with export turnover of over US$1 billion each, including five products with export revenue of more than US$2 billion each, Deputy PM Hue added.

Many agricultural products have had bumper crops, but they have been adequately consumed thanks to localities’ efforts in promoting consumption, such as litchi in Bac Giang Province and longan in Hung Yen and Son La provinces, the deputy PM added.

However, Hue expressed concern over the low labor productivity in the agriculture sector. At present, 38% of laborers in the country are working in the agriculture sector, and 60% of the population is in rural areas, but the sector contributes only 15% to the country’s gross domestic product.

He called on local farmers and farm produce processors to tap foreign markets, saying the country would develop trading floors for agricultural products to reduce risks for farmers and ensure benefits for producers, consumers and distributors.

At the forum, Sung noted that the outbound sales of agro-forestry-fishery products reached US$29.64 billion in the nine-month period, and the amount may hit some US$40 billion this year.

According to a report on SGT

Vietnamese travel bloggers say their journeys are no bed of roses

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Travel blogging is nothing strange to young people who love traversing places and sharing their experiences with the community.

But it requires more than just enjoyment for those who consider it a job, some popular Vietnamese travel bloggers tell Tuoi Tre News.

Quit job and start ‘wandering’

After three years working as an engineer, Dinh Vo Hoai Phuong realized that doing a job with “repeated numbers and rough standards” would only tire him.

He eventually made up his mind that this kind of occupation was not for him.

After quitting his job as an engineer, the young man from the southern province of Ben Tre founded a YouTube channel called Khoai Lang Thang / Food and Travel, where he shares videos capturing his food adventures in and outside the country.

Phuong has so far attracted 380,500 subscribers to his channel, along with nearly 239,000 followers on his Facebook page Khoai Lang Thang.

Most of his YouTube videos reached thousands of views each, including one featuring his experiences with the southern region’s rare specialties, which garnered more than 2.1 million views.

Using a rustic way of narration, Phuong led his viewers through his experience of tasting different mouth-watering foods at a variety of places he passed by.

Meanwhile, Pham Quang Tuan, founder of the travel blog cuongchan.com, also quit his full-time job twice to become a freelancer and concentrate on his trips as well as private travel projects.

Currently, Tuan works in digital media, and is willing to start a new trip whenever he has spare time.

Visiting Tuan’s blog, readers can easily find plenty of information about travel tips, visa application, hotel booking and more.

The man, from the central province of Quang Tri, also cherry-picked interesting destinations and activities from his trips for readers’ reference.

Another ‘wanderer,’ Tran Viet Anh, founded his blog dulichbui24.com several years ago, with a simple goal of making it a place where he can share his experiences and make friends with people of similar interests.

As Anh started to receive his first advertising contracts, he realized this could be a way to afford his travel.

The longer he travels, the more burning his desire of pursuing this job grows.

Up to now, the young man from the northern city of Hai Phong has considered traveling and blogging his full-time job.

He cooperates with tour operators and accommodation companies to offer reviews on their services, a job from which he earns enough to afford his life and travel.

Not just a bed of roses

As their life looks full of freedom, travel bloggers have become role models that many people, especially the young, dream of.

However, experienced travel bloggers said there is no bed of roses.

According to Viet Anh, challenges are always part of his journey to pursue the job he loves.

Besides difficulties that arose during the trips, Anh also faced financial problems for a short time when he switched from his ordinary job to following travel blogging.

He also had to convince his family to support the path he has chosen.

“I think people should not have a one-sided view on the benefit of working as a travel blogger,” Anh told Tuoi Tre News.

“We should see them as those who are pursuing the job they love, and that job could be cooking, baking, writing or others.”

Sharing his view, Pham Quang Tuan said all the beautiful things people see on his website, the inspiring pieces of writing, great photos or high-quality videos of his trips, did not come out of thin air.

“These pieces of content require a painstaking working process with many different steps,” Tuan said, giving out a general description of his job.

Phuong also said there is no road full of roses, and travel blogging is no exception.

“Beside luggage, we’d better well-equip ourselves with knowledge and health before every trip we make,” Phuong added.

A female representative of the Vietnamese travel blogging community, Nguyen Hoang Nguyen, popularly known as Rosie Nguyen, said travel blogging has recently drawn much attention of young people but not everyone has a proper understanding of the job.

Rosie Nguyen is the author of the renowned backpacking travel guidebook “Ta Balo Tren Dat A,” or “Backpacking in Asia,” and has ten years of experience in traveling and blogging.

However, she does not consider it her job as she does not earn a living from it.

“People often only see the benefits of this job, like we have chances to travel a lot while having free meals and staying at luxury places,” she said.

“There’s no denying that this job brings us those privileges which are not easy to get, but that’s just the tip of the iceberg,” she added.

According to her, this job at the same time requires responsibility along with pressure, not only from clients but also from the public.

“Pressure from the public is terrible,” she insisted.

“For instance, if you post something which is not ‘correct,’ in other people’s experience, you’ll be criticized,” she added.

“It’s not rare for bloggers who are not good at managing their words or photos to be boycotted.”

According to a report on Tuoi Tre News

Vietnam stocks rebound over global fears

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Vietnam shares jumped 0.8%, boosted by financial and real estate stocks. Vietnam Technological and Commercial Bank (HOSE: TCB) rose 2.1%, while Vinhomes Co (HOSE: VHM) gained 3.2%. Southeast Asian Stocks market rise on Wall Street rebound; Philippines, Singapore lead gains.

Today, October 17, 2018, most of Southeast Asian stock markets rose, tracking a rebound on Wall Street and as local investors looked for bargains in the wake of recent losses. Reuters reports.

Singapore shares rose up to 1.7% after two straight sessions of falls, with financials and industrials leading the bounceback. They declined about 4.5% last
week in their second straight weekly drop.

“In the case of Singapore, we have been sharing much of the downside, but not the upside. As valuations remain attractive in Singapore, it’s not surprising to find bargain hunting after the recent selloff,” said Liu Jinshu, director of research at NRA Capital, referring to last week’s rout. Investor sentiment was also upbeat after data showed Singapore’s non-oil domestic exports growth accelerated in September, led by a jump in pharmaceutical shipments.

Jardine Matheson Holdings Ltd gained 1.7%, while United Overseas Bank Ltd climbed 2%. Philippine shares rose 2% to a near two-week high, helped by financials. BDO Unibank Inc gained 3.6%, while Bank of the Philippine Islands climbed 3%.

“Investors are taking advantage of cheap buy-aways from the PSI, given that they have retreated two standard deviations below its mean… We might reach up the resistance level again, the valuations are getting attractive for the Philippines,” saidLexter Azurin, AB Capital Securities analyst.

Indonesian shares gained up to 0.5%, boosted by telecom stocks.

Telekomunikasi Indonesia Tbk climbed 1.6%, while Indah Kiat Pulp and Paper Tbk rose 7.6%.

Malaysian shares edged higher, helped by tourist resort operator Genting Malaysia Berhad and airport services provider Malaysia Airports Holdings Bhd.

Asian equities also got some welcome relief, after upbeat U.S. earnings reports drove a rebound on Wall Street and helped restore a little faith in emerging market stocks and currencies.

Read full report on Reuters

Three of four suspects arrested for stealing US$320,000 worth of gold in Vietnam

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Vietnamese police had captured 3 of 4 suspects, who stealing nearly $320,000 worth of gold in Ninh Binh Province, northern Vietnam

Local officers confirmed that they had captured 3 local men on suspicion of property theft.

The three registered their residence in Dong Hung District, Thai Binh Province, TTO reports.

Investigators believed that these people stole 200 taels of gold, worth $318,700, from a house in Ninh Binh Province one month ago. A local resident had informed police of thieves burgling his house and breaking a safe to take away 200 taels of gold on September 17.

Local police officers then put together a team to hunt for the suspects and found out a gang headed by Pham Van Cuu, 32. Police discovered that the gang used motorbikes and cars to travel to many cities, stalking private homes before breaking in and stealing their property.

They apprehended the three suspects after tracking them for a while. A search of their house led to the confiscation of jewelry, cash and a gun together with three bullets.

US$320,000 worth of gold found by local police at the house of Pham Van Cuu | File photo

3 of 4 suspects are Pham Van Cuu, 32, Nguyen Quang Nguyen, 32, and Pham Ngoc Luyen, 22, they admitted to police that the 200 taels of gold has been stolen from the house of a local resident, adding that one more accessory, Nguyen Cong Hoan, is still at large.

Police officers are searching for the other suspect.

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It’s not just you, Youtube is down for everyone, everywhere

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No, it’s not just you. As of Tuesday evening Pacific Time, YouTube was down for many users. The outage appears to have begun some time around 6:15 p.m., making this a pretty long outage for such a major site.

The company is well aware of the issue and tweeting its updates. The account began responding to tweets reporting the outage about an hour ago and has painstakingly replied to many, many reports from users since.

YouTube doesn’t experience downtime very often, making Tuesday’s outage pretty notable. We’ve reached out to YouTube about the cause of the outage and will update this story when we learn more.

Vietnam Medical Devices Market Outlook to 2022

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Vietnam Medical Devices Market is Expected to Reach around USD 1.8 Billion by 2022

Vietnam Medical Devices market by Application (Orthopedic and Prosthetic Applications, Diagnostic Imaging Equipment, Paraclinical Equipment, Emergency Medical Equipment, Operation Room Equipment and Others) by Material (Textile Products, Electronic Products, Plastic Products, Rubber Products and Other Products) by Equipments (Consumables, Diagnostic Imaging, Dental Products, Orthopaedics and Prosthetics, Patient Aids and Other Medical Devices) and by End Users (Government Funded Hospitals, Local Private Hospitals, Foreign Owned Hospitals and Medical Education, Research Institution and Others) along with company profiles of Japan Vietnam Medical, Danameco, Armephaco, B Braun, Shimadzu, General Electric, Terumo BCT and Phillips. Increased public health expenditure in Vietnam will foster the growth of medical devices industry in Vietnam. Emphasis on local production of medical devices in Vietnam will impact the market positively.

Analysts at Ken Research in their latest publication “Vietnam Medical Devices Market Outlook to 2022 – By Equipments (Consumables, Diagnostic Imaging, Dental Products, Orthopedics and Prosthetics, Patient Aids and Other Medical Devices)” believe that interoperable technology, focus on emerging segments and end to end solutions in medical devices market will have positive impact on market. Vietnam Medical Devices market is expected to register positive CAGR of around 9.6% during the period 2017-2022. Government initiatives and low barriers to entry for domestic production are expected to have positive impact on the demand for medical devices. Increasing activities of telemedicine in consultation, surgery, imaging and cardiology have boosted the demand for advanced technological medical devices.

Given the government’s push towards encouraging local production of medical devices and Vietnam’s advantage over other nations on manufacturing costs, many foreign suppliers are planning to start production of medical devices in Vietnam. Countries such as Singapore, Malaysia and Thailand are categorized as those markets where high end medical devices are demanded. With the advantage of low manufacturing cost in Vietnam, it is imperative for international players to use this factor at their advantage and build manufacturing hubs in Vietnam to meet the need for medical devices in the country and sell to neighboring countries to reduce logistics costs. Many domestic manufacturers are planning to expand their technical capability to higher end medical devices by venturing with international players. Rise in private investments and government initiatives have also acted as a boon for these manufactures in terms of financial assistance and product innovation. Increased public health expenditure will lead to expansion of existing public hospitals and will also lead to increased demand for medical equipments. New technology that is inter-operable with old, obsolete systems will aid in expanding the existing healthcare infrastructure.

For more information on the research report, refer to below link:
https://www.kenresearch.com/healthcare/medical-devices/vietnam-medical-devices-market/143604-91.html

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

Nielsen: Gen Z has high influencing power

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Demographic has major say in purchasing decisions.

Generation Z, born between 1998 and 2010, is estimated to number around 15 million by 2025, representing approximately 25 per cent of Vietnam’s workforce, according to the “Generation Z in Vietnam” report released recently by global information and measurement company Nielsen.

The report also looks at the growing impact of Generation Z, their connection to other generations, how important digital is in their lives, and the effectiveness of brand loyalty and endorsements.

While they are years away from fully establishing themselves, they are already having a marked impact on the consumer landscape. Seventy per cent of Generation Z respondents said they influence the purchase decisions made by their parents for furniture, household goods, and indulgent food and beverages.

According to Retail Measurement Service data, indulgent food and beverages had a market size of $6.6 billion in 2017. And their influencing power on their parent’s purchases is not just limited to these categories above; they also indicated they are the key decision makers for outdoor entertainment, outdoor dining, or technological gadgets such as smartphones, tablets, laptops and smart watches. It is clear that Generation Z has a significant impact on the consumer market in general and on some categories in particular.

“It can’t be denied that today’s children have a remarkable influence on adults’ purchasing decisions,” said Ms. Nguyen Huong Quynh, Managing Director of Nielsen Vietnam. “These youngsters can observe, demand and select goods with permission while shopping with their parents or when shopping on their own.”

“The rise of dual-income households in Vietnam has empowered these young people in a big way, so they can participate more in the decision-making process of the family from an early age. As the purchasing power of these young people continues to grow, marketers and advertisers should pay more attention to developing more effective campaigns to approach these consumers in the future.”

“These traits show that Generation Z is approaching and interacting with brands via various channels or at different touch-points,” Ms. Quynh went on. “Therefore, when engaging with this generation, the multi-channel approach is the most ideal and appropriate. Businesses should not just pay attention to online/digital platforms and overlook traditional media and bricks-and-mortar stores. Getting the right message via the right platform at the right time is of the utmost importance.”

Nearly four out of ten Generation Z respondents in the study said they were open to interesting trials even though they have frequently used brands. Only a quarter of this demographic said they would consider a brand carefully before purchasing and were unlikely to switch the brand.

Khanh Chi report on Vneconomictimes

Lawmakers approve continued pilot e-visa issuance for foreigners

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The National Assembly (NA) Standing Committee decided on October 16 to extend the pilot e-visa programme for foreign visitors to Vietnam by another two years.

On November 22, 2016, the NA issued Resolution No.30/2016/QH14 on the pilot programme, which was scheduled to last until February 1, 2019.

According to a report at the 28th sitting of the NA Standing Committee, between February 2017 and August 31, 2018, Vietnam approved 298,113 e-visas for foreigners, of which 298,507 were self-submitted and 8,606 done by sponsoring organisations. As of August 31, there had been 241,875 e-visa holders entering Vietnam.

Presenting the Government’s report on the implementation of the pilot programme, Deputy Minister of Public Security Le Quy Vuong said the outcomes showed that the policy has contributed to attracting foreigners to Vietnam for tourism and investment, forming a driving force behind the tourism sector.

Many diplomatic agencies of foreign countries in Vietnam applauded the policy, saying it facilitates the nation’s external diplomacy amid global integration, Vuong added.

He proposed that the pilot scheme should be continued to provide the basis for a more complete assessment of the policy’s impacts on local socio-economy, defence, security, and foreign diplomacy.

The official pointed to some existing shortcomings, which include the low number of e-visa holders entering Vietnam due to ineffective work on popularising the policy, and the high number of countries yet to be subject to the policy.

According to Vuong, the extension of the pilot plan will help complete regulations on e-visa issuance when amending the law on the entry, exit, transit, and residence of foreigners in Vietnam.

At the session, the NA’s Defence and Security Committee requested that the Government direct the Ministry of Public Security and relevant agencies to review and assess the implementation of the law on the entry, exit, transit, and residence of foreigners in Vietnam, with a view to adding the law to the NA’s law building programme for 2019.

Concluding the function, NA Vice Chairman Do Ba Ty announced a decision on the two-year extension of the pilot programme, saying that during this period, the Government is required to prepare amendments to the immigration law for submission to the NA.

Source: NDO

Vietnam 16th top country for expat earnings: HSBC survey

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An annual HSBC survey says expats in Vietnam earn an average of $90,408 a year, ranking 16th in the world.
The London-based bank’s Expat Explorer Survey report was cited by U.S. news site Business Insider.

The survey, released last Thursday, interviewed around 25,000 expatriates from more than 100 countries and territories between March and April this year about their financial situation, and whether their disposable income was sufficient to cover their expenses.

According to the survey, expatriates in Vietnam earned $90,408 annually on average, which is around 40 times higher than the per capita income of Vietnam at $2,385 last year.

Meanwhile, with the cost of living in Vietnam for expatriates ranging from $700 to $1,400 per month, the country is among the affordable places for foreigners to settle down, according to a report by global cost of living database compiler Numbeo.

Asian countries made up seven of the top 10 countries with highest expat incomes. These include China, Singapore, India, Indonesia, Japan and the United Arab Emirates.

The top spot went to Switzerland, with average expat earnings of $202,865 a year.

Singapore remained the top choice in Southeast Asia for expats to live and work, with the average income standing around $162,172.

There are around 82,000 foreigners living and working in Vietnam. Recent surveys have shown that the country is a good place for foreigners to settle.

A survey done by Go Overseas, a U.S.-based listing and reviews site for programs abroad, revealed that Vietnam was among the world’s nine countries paying the highest salaries for ESL (English as a Second Language) teachers.

With data updated until May this year, the survey found that a foreign English teacher can earn from VND22.7 million to VND45.5 million ($1,000 to $2,000) a month in Vietnam

The InterNations’ 2018 Expat Insider survey, published in March this year, ranked Vietnam among the 10 friendliest places on earth for expats.

Nguyen Quy report on Vnexpress

October 16: VN-Index up 1.23%

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All indexes close in positive territory.

Trade ended October 16 with quite positive results, as money spread across all sectors and helped indexes rise.

On HSX, the VN-Index closed at 963.37 points, up 11.73 points (1.23 per cent), while the VN30-Index closed at 939.41 points, up 10.86 points (1.17 per cent).

On HNX, the HNX-Index finished at 108.60 points, up 0.92 points (0.86 per cent), the HNX30-Index 198.39 points, up 2.32 points (1.18 per cent), and the UPCoM-Index 52.77 points, up 0.36 points (0.68 per cent).

Liquidity on HSX was VND2.7 trillion ($115.6 million) and on HNX was VND425 billion ($18.2 million).

Food and beverage stocks to gain ground included TLG, VNM and SAB, by 1.3, 0.2 and 0.2 per cent, as BBC lost 0.8 per cent, KDC 0.6 per cent, and BHN 0.1 per cent.

Gainers in banking included STB, by 5 per cent, BID 2.8 per cent, MBB 2.1 per cent, TCB 1.8 per cent, CTG 1.6 per cent, VPB 0.8 per cent, and VCB 0.2 per cent, as BVH lost 0.7 per cent. EIB and VCI closed at their opening price.

In energy, PVD gained 3.9 per cent, GAS 1.6 per cent, PPC and PLX 1.1 per cent, and NT2 1 per cent as PGD lost 2.1 per cent and PVT 1.4 per cent.

The Top 5 shares bought by foreign investors were HBC, DXG, HPG, HDB and BID.

VJC was the largest net sold share on HSX, followed by MSN, SSI, CII and VCB.

PVS was the largest net sold share on HNX, followed by PVB, VGC, CSC and VIX.

On UPCoM, foreign investors bought 528,370 shares worth VND13.42 billion ($574,900).

They net bought on HSX by VND907.47 million ($38,875) and net sold on HNX by VND47.38 billion ($2 million).

Huyen Thanh report on Vneconomictimes

Vietnam’s per capita GDP long way away from 2020 target

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Vietnam’s GDP per capita is set to increase this year, but its 2020 target of $3,200-3,500 looks distant.
Minister of Planning and Investment Nguyen Chi Dung said at a National Assembly meeting Monday that if Vietnam’s GDP increases by 6.7 percent this year, per capita GDP will reach $2,540, up $155, or 6.1 percent year-on-year, and 1.21 times that of 2015.

However, this figure is still far away from the country’s target of $3,200-3,500 by 2020, he conceded.

According to World Bank Group statistics, Vietnam’s GDP per capita in 2017 is $2,343. The figure for Singapore is $57,714, Malaysia ($9,945), Thailand ($6,594), the Philippines ($2,989) and Myanmar ($1,298).

Minister Dung estimated that Vietnam’s GDP would grow by 6.57 percent on average in the 2016-2018 period, meeting the National’s Assembly target of 6.5-6.7 percent growth.

However, he expressed concerns about the increasing number of businesses that stopped operations in the first nine months of this year.

While 96,610 new businesses opened, 73,100 closed, up 48 percent year-on-year.

These figures worried government officials at the meeting. Vu Hong Thanh, Chairman of the National Assembly’s Economic Committee, said that the goal of having one million businesses by 2020 will be “difficult to achieve.”

Last year Vietnam had over 560,000 active businesses, up 11 percent year-on-year, according to the General Statistics Office.

But in another meeting last week, Deputy Prime Minster Vuong Dinh Hue said that the goal “is full of challenges, but achievable.”

Hue said that how strong these businesses are and how much they can contribute to the economy is more important.

“The government aims to practically improve the business environment by not imposing more conditions,” he said.

In the first nine months this year, Vietnam’s GDP grew by 6.98 percent, the highest nine-month growth rate since 2011. The economy grew by 6.81 percent last year, the highest rate in a decade.

Nguyen Hoai report on Vnexpress

VinFast selects Siemens’ innovation platform

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Siemens has announced that VinFast, Vietnam’s first motor car manufacturer, has selected a suite of tools from Siemens PLM Software to help realize its plans for next-generation automotive and transportation design.

Siemens is providing a digitalization solution across the entire automotive OEM value chain, which can help enable VinFast to meet its goals of creating the first Vietnam-made automobile and eScooter brands and promote the development of Vietnam’s industrial and manufacturing sector.

“Siemens PLM Software is proud to form this excellent partnership with VinFast in the first national car project in Vietnam, to help VinFast accelerate its innovation cycle,” said Mr. Alex Teo, Managing Director and Vice President of Siemens Industry Software for South East Asia. “The vast portfolio of Siemens solutions that VinFast plans to deploy is a demonstration of the trust our customers place in our proven capabilities in taking products from the digital world to the real world.”

According to Mr. Jason Buxton, Chief Information Officer at VinFast, using the combined power of both product lifecycle management and manufacturing operations management technology is a key part of VinFast’s digitalization journey. “To drive innovation within the automotive industry, it is essential to have the right technology in place,” he said. “We feel that Siemens’ best-in-class solutions can empower automakers and the vehicle electrification supply chain to reduce development time and deliver high-quality solutions, with the ability to adapt to changes easily at every stage of the process.”

VinFast plans to take advantage of a connected digital twin across both design and manufacturing. It plans to use an integrated digital platform including the Teamcenter® portfolio for digital lifecycle management, including the Teamcenter solution for product costing to support cost and value engineering, and the Tecnomatix® portfolio, the industry-leading digital manufacturing software, combined with SIMATIC IT UA for Discrete Manufacturing covering the MES (Manufacturing Execution System) layer.

Teamcenter connects the digital twin with a consistent digital thread, which can help VinFast increase speed and flexibility in development, optimize manufacturing processes and use the insights gained from product and plant operations to improve future performance.

VinFast recently announced to the market that the company is also launching the first Vietnamese electric car. Using a connected PLM and MES digital enterprise solution will prove to be critical to achieving this goal. By creating a digital enterprise, VinFast can take advantage of new and disruptive technology across each phase of their operation to reduce cycle time, increase yield and foster new business opportunities.

Siemens PLM Software, a business unit of the Siemens Digital Factory Division, is a leading global provider of software solutions to drive the digital transformation of industry, creating new opportunities for manufacturers to realize innovation. With headquarters in Plano, Texas, and over 140,000 customers worldwide, Siemens PLM Software works with companies of all sizes to transform the way ideas come to life, the way products are realized, and the way products and assets in operation are used and understood.

Linh San report on Vneconomictimes

How technology is transforming Vietnam

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While Industry 4.0 may call to mind images of futuristic smart cities and robot waiters, it’s already transforming Vietnam.

Tran My Tien is a hard-working employee of a famous bank in HCM City.

Looking at her outstanding performance, no one can believe the 30-year-old has another job on the side: she is the co-owner of a coffee shop called Cai Lo Gach Cu in District 11 that opened several months ago.

Talking about how she manages to juggle two jobs at the same time, she merely said “technology”.

She was referring to the phone applications she uses to monitor everything in the shop like cash flow, revenue growth, supply sources, and others.

While many people may not understand industry 4.0 and other technological changes, they are clearly sweeping across the country.

On the one hand, there are many conferences on esoteric concepts like big data, cloud, Internet of Things, and artificial intelligence, on the other, these have already entered daily life to benefit users.

Tien is one of those benefiting from the hi-tech revolution.

“I don’t know much about 4.0 but it is true that modern technology, including phone applications and social media like Facebook, have helped me much in doing business.”

She told Viet Nam News, “Modern technology has enabled me to manage the coffee shop from far away so that I can do many jobs at the same time.”

She uses two apps for the task. They also help her calculate the volume of materials required and show her which the peak business hours are so that she can organise promotions.

On the website of the World Economic Forum, President and CEO of Siemens Joe Kaeser said, “The fourth industrial revolution is transforming practically every human activity: the way we make things, the way we use the resources of our planet, the way we communicate and interact with each other as humans, the way we learn, the way we work, the way we govern, and the way we do business. Its scope, speed and reach are unprecedented.”

Obviously, the technological changes are changing the lifestyles of Vietnamese so quickly that many people feel they can’t live without the tools technology provides and they benefit greatly from them.

Even a few years ago no one thought they could buy a bubble tea or a meal without going out of the office or at least making a phone call.

Food delivery apps now do all this for them.

If we go to a beverage shop or restaurant in big cities like HCM City and Hanoi, it is easy to see people in uniforms ordering food and beverages.

They are staff of food-order delivery apps like Now.vn and Grab Food buying food and drinks for customers for delivery.

Do Minh Phuong of HCM City’s District 7 told Viet Nam News that “technology is now indispensable” in her life.

She uses the food delivery services frequently when “I want a bubble tea in the afternoon but cannot leave the office or want to buy fresh food but do not have enough time to go to supermarket or market”.

“Modern technology is making life easier for people,” Phuong said.

Another app that is of great benefit is the one for hailing motorbike taxis.

In recent years this service has become popular around the country and provides employment to many people. A spokesperson for a new motorbike taxi hailing app, GoViet, told Viet Nam News that after a six-week test period the company had signed up 3,000 drivers in HCM City and Hanoi.

There were 1.5 million downloads during this period, he said.

Do Kim Ngoc, a senior citizen living in Hanoi, said “motorbike hailing is a very useful service”.

“They are always ready, I can now go around the city without waiting for my children to take me when they are free.”

A shipper from Lalamove said it was easy for him to find a job thanks to modern technology.

He said he had applied for a job at a major automobile company and while waiting for it he decided to work as a shipper for Lalamove. He had to thank technology for the opportunity, he added.

According to a report on Vietnamnews

Vietnam is the world’s top emerging economy: experts

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Embracing free trade policies, reducing overregulation and costs of doing business, and investing in human capital and infrastructure are three ingredients that help Vietnam become a top emerging economy in less than three decades, said a writing posted on the US hakernoon.com.

According to the article citing the World Bank’s recent report, the Vietnamese Government’s efforts have been paid off as its trade liberalisation opened the door to new agreements, lowering taxes for international commerce operations, and increasing regional competitiveness. To date, the Southeast Asian country has successfully inked 16 bilateral and multilateral free trade deals. Also, it has become a member of the World Trade Organisation (WTO), the Association of Southeast Asian Nations (ASEAN), and the Eurasian Customs Union.

Eliminating excessive controls and providing a clearer framework for doing businesses in several key industries have played a crucial role in boosting the country’s business development.

The article mentioned new challenges for the country when the number of businesses keeps growing and the economy’s scale continues expanding. It said that Vietnam should pay due attention to education with a view to elevating quality standards, and infrastructure investments which help supply more energy and improve connectivity within the country.

Last month, World Economic Forum (WEF) President Borge Brende praised Vietnam’s economic performance at the Vietnam Business Summit. He pointed out the positive impact of the numerous economic reforms implemented by the government over the last few years to reduce debt and stabilize public finance, the writing said.

According to Vietnamese Minister of Finance Dinh Tien Dung, the country’s public debt had risen to 64 percent between 2011 and 2015; however, thanks to latest reforms, debt is expected to decrease to 60 percent in three years (from now). In addition, Vietnam reached an economic growth peak for the decade at 6.8 percent, outperforming its target of 6.7 percent.

Brende said that Vietnam could benefit from the creation of a friendly environment for innovative technologies like the Internet of Things, blockchain and crypto. Countries that quickly adopt these technologies can expect a brighter future.

In fact, Prime Minister Nguyen Xuan Phuc ordered the establishment of a national committee for e-government in August. This aims to study and elaborate guidelines, strategies and policies to create a legal environment favourable for developing digial government.

A report from the AlphaBeta Consulting firm, Vietnam ranks second in high-tech investment environment, and third in digital competence in the Southeast Asia.’

According to a report on VNA