Nguyen Kim electronics supermarket launches its biggest yearly promotiong programme with discounts of up to 70 per cent. — Photo Central Retail
Many supermarkets in Ha Noi and HCM City are taking part in the National Promotion Month 2022, organised by the Ministry of Industry and Trade from mid-November, to stimulate consumer demand at year-end.
One of the programmes – the “Ha Noi Midnight Sale” taking place from November 25-27 – has attracted about 200 businesses, shopping centres, production facilities and local supermarkets including Central Retail, BRGMart, Co.opmart, Lotte Mart, Winmart and Pico.
Joining both “Ha Noi Midnight Sale” and “Shopping Season” programmes in HCM City, all supermarkets under the Central Retail Group launched mega sales in three days (November 25 to 2am November 28).
With “Cheaper than ever – Cheap Through the Night” theme, the supermarket chain Big C/GO! offers special discounts of between 35 per cent and 60 per cent for both food and non-food products.
At the electronics system Nguyen Kim, a member of Central Retail, shoppers can buy household products with discounts of up to 70 per cent in its biggest promotion of the year – “Shocking sale Big Bang”, a well-known promotion to consumers since 2006 until now.
Similar programmes are also organised by other electronics supermarkets including MediaMart and Pico.
At the MediaMar, a wide range of products from TV, refrigerators, rice cookers to fan heaters, laptops and smartphones of big-brands like Samsung, LG, Sony, TCL and Coex are being sold at discounts of between 20-60 per cent.
Between November 25-27, Pico has reduced the prices of up to 60 per cent for electrical products and household appliances including microwave ovens, induction cookers, vacuum cleaners, rice cookers and dishwashers.
Tran Thi Phuong Lan, acting director of Ha Noi Department of Industry and Trade, said: “Ha Noi Midnight Sale combined with Black Friday and other events in the Promotion Month is expected to lay a good foundation for the development of the night economy, changing the shopping habits of consumers not only during the day, but also at night, linking shopping with the use of other services such as dining, entertainment, and travel.”
Strong GDP growth supports rebounding M&A market
Vietnam’s economy is expected to grow by 8 per cent this year and 6.5 per cent next year, creating a pedestal for investment and business activities.
Vietnam’s economy is expected to continue despite the challenges posed by global economic fluctuations. According to the Resolution on the Socio-Economic Development Plan 2023 approved by the National Assembly (NA) in November, Vietnam will continue prioritising macroeconomic stability, controlling inflation, promoting GDP growth, and ensuring economic balance.
A stable macro-economy will create a driving force for investment, production, and business activities, including attracting foreign investment and M&A activities.
This year, the global economy has seen fluctuations, exerting a decline in foreign investment inflows. According to the Ministry of Planning and Investment, the total newly registered capital, adjusted and contributed capital to buy shares and buy contributed capital of foreign investors reached more than $22.46 billion as of October 20, equivalent to 94.6 per cent of the same period in 2021.
A KPMG report showed that the value of M&A deals in Vietnam only reached $5.7 billion in the first 10 months of this year, down 35.3 per cent on year, compared with $11 billion in the whole of last year. There were only about 350 deals in the first 10 months of 2022. Meanwhile, the number was more than 700 deals in 2021.
The average value per M&A deal also decreased from $31 million in 2021 to about $16.5 million in the first 10 months this year. The M&A market in Vietnam is slowing down in terms of the value and number of deals.
On the sidelines of the Vietnam M&A Forum 2022, deputy Minister of Planning and Investment Tran Quoc Phuong said that the current difficulties were temporary due to objective factors impacting the general trend of the global market.
GreenYellow acquires 49.5MWp solar farm of French IPP Qair in Vietnam
GreenYellow Vietnam – a major player in the energy transition – recently acquired the Vietnamese subsidiary of Qair – French independent renewable energy producer refocusing on European, Brazilian, and African geographies – as well as its 70 per cent stake in Binh Dinh solar farm, a 49.5 MWp asset in operation in Binh Dinh province in Vietnam’s central coast.
This acquisition is GreenYellow’s first large-scale investment in the ASEAN, on top of a large existing private C&I portfolio with private off-takers. It demonstrates GreenYellow’s financial ability to enable future renewable energy opportunities in Vietnam and Southeast Asia.
To date, GreenYellow Vietnam has reached a total asset portfolio of 150MWp of solar power generation capacity in the country.
Vietnam’s outbound tourism market recovers faster
88.5% of Vietnamese tourists travelled both domestically and internationally, in the first nine months of this year.
The outbound tourism market in Vietnam has recovered strongly and faster than expected.
This is the main conclusion of the summary report on “Vietnam Outbound Travel 2022” published by Outbox Company, on November 21.
According to the survey, 69.25% of Vietnamese visitors considered foreign travel as a hobby and regular activity. 56.88% of Vietnamese visitors said they need a trip after the long period of lockdown.
In addition, data measuring Vietnamese people’s enthusiasm to return to travel through the Vietnam Travel Tracker model, conducted by Outbox, has shown that the level of anxiety about the safety of the destination has decreased gradually.
The survey results show that, as soon as tourism activities are reopened, Vietnamese tourists especially prefer three destinations in Asia, namely Singapore, the Republic of Korea and Thailand.
In general, Asian destinations have always been the favourite places for Vietnamese tourists, due to many favourable conditions, such as simpler visa procedures, more affordable prices and convenient transportation.
Ministry inspects real estate projects in Dong Nai
The Ministry of Natural Resources and Environment on November 23 announced its upcoming inspections of 10 businesses that are developing real estate projects in Dong Nai Province.
The ministry will look into compliance with laws and regulations on natural resources and the environment at four companies with real estate projects in the districts of Long Thanh, Nhon Trach, and Trang Bom.
Inspections will be conducted at Long Thanh Riverside JSC, Quang Vinh Trading Service Co., Ltd, LDG Investment JSC, and Ha An Investment Real Estate JSC.
The other six real estate projects on the inspection list comprise those of Phuoc Thai Housing Investment JSC, Long Hung Phat Real Estate Investment Co., Ltd, Southern Golden Land JSC, Thanh Nhon Investment Co, Ltd, Gia Duc Real Estate Co, Ltd, and Dai Phat Investment and Development Real Estate JSC.
The Dong Nai People’s Committee and authorities of Long Khanh City, Long Thanh District, and Nhon Trach District will be inspected for their compliance with the land law.
Deputy Minister of Natural Resources and Environment Nguyen Thi Phuong Thoa said the inspection was urgently needed to detect and handle violations, as the mismanagement of the local authorities had given rise to some illegal irregularities recently in the province.
The ministry’s inspectorate required local authorities to prepare relevant documents and reports, as well as cooperate with the delegations during their inspections.
EVFTA to create 146,000 more jobs for 2022-2025 period
It is forecasted that an additional 146,000 jobs will be made for 2022-2025, thanks to the EU-Viet Nam Free Trade Agreement (EVFTA) implementation.
The above figure was shared at the Workshop to assess the impact of EVFTA on labor and employment issues, organized by the Ministry of Labour, Invalids and Social Affairs (MOLISA) on Wednesday afternoon .
Director of the Center of Information, Strategy Analysis and Forecast, Institute of Labor Science and Social Affairs (MOLISA), Pham Ngoc Toan, said that Viet Nam’s labor and employment tended to increase in the period 2012-2019 and began to decrease in 2020 due to the Covid -9 pandemic.
However, when the pandemic was under control in 2022, many jobs were created in the industry providing goods and services for the export industry to the EU.
Additionally, the proportion of employees participating in social insurance after the agreement was signed (quarter 3/2020) increased compared to before the agreement came into effect.
The reduction in export tax rates had a positive effect on increasing the average wages of workers. After the EVFTA came into effect, the average salary of employees increased by 11 percent.
Besides, compared to other regions, the average salary of workers in the import-export sector from EVFTA countries was about 17 percent to 28 percent higher than that of other regions.
However, the trade deal’s positive effects on labor and employment significantly reduced due to the outbreak of the Covid-19 pandemic.
2022 – successful year for farm produce exports
The Plant Protection Department under the Ministry of Agriculture and Rural Development on November 24 announced the completion of opening the Japanese market for longan, the Chinese for sweet potato, and that of New Zealand for lime and grapefruit of Vietnam.
This year can be considered the most successful for the sector, as many agricultural products have gained access to the world markets.
For the Chinese market, earlier this year, the General Administration of Customs of China (GACC) agreed to pilot import of Vietnamese passion fruits starting in July. After that, durian and banana were allowed to be imported into China through the signing of the protocols on phytosanitary requirements between the two countries. Most recently, another protocol was signed for China’s import of sweet potato from Vietnam.
Meanwhile, an agreement on the export of Vietnamese lime and grapefruit to New Zealand was signed by the ministry and New Zealand’s Ministry of Agriculture on November 15. Three days later, the Japanese Ministry of Agriculture, Forestry and Fisheries also announced that Vietnamese fresh longan is allowed to be imported into the country.
First modern ready-built warehouse developed in central Vietnam
Sembcorp Industries, a Singaporean-invested firm, will build the first modern ready-built warehouse in central Vietnam next month to meet the increasing demand in the industrial real estate market.
Sembcorp is set to break ground at the Sembcorp Logistics Park Quang Ngai on December 2, 2022.
Located at Vietnam Singapore Industrial Park in Quang Ngai province (VSIP Quang Ngai), Sembcorp Logistics Park is the first ready-built warehouse to provide modern warehousing spaces as well as enabling operational efficiency and supply chain resiliency to businesses.
The project showcases three blocks of modern single-storey warehouses with a total land area of six hectares and a gross floor area of 35,500 square metres which is expected to be completed by the fourth quarter of 2023.
Int’l conference discusses green finance for sustainable development
An international conference was held in Hanoi on November 25 to seek the enhancement of cooperation with global investment institutions to mobilise green finance for State-owned enterprise (SoE) restructuring and sustainable development.
Pointing out changes in the global economy and emerging trends like digital transformation, green transition, and the re-shaping of supply and production chains, Minister of Foreign Affairs Bui Thanh Son said it is of great necessity to establish equal partnerships, public – private partnerships, and multi-party partnerships to work towards sustainable development.
Multilateral development banks, development partners, multinationals, and global funds are playing an increasingly important role in providing green investment, green finance, and technological and human resources for development, he noted, adding that effectively mobilising external resources to be combined with domestic ones to boost sustainable socio-economic development is a target and also an urgent need of the Vietnamese Government.
Aside from foreign direct investment, the country is also stepping up the attraction of green finance and capital from investment funds to help accelerate economic restructuring, a focus of which is SoE restructuring, and capitalise on new driving forces for green transition and green growth.
Vietnam owns sufficient factors of a promising destination for green and sustainable investment and capital sources, the official went on, highlighting stable economic recovery after the COVID-19 pandemic; an increasingly favourable investment and business climate with a young, creative, and highly adaptable workforce; and an economy extensively and substantively integrating into the regional and global economies.
Persons accused of involving in wrongdoings at Advanced International JSC to stand trial
Nguyen Thi Thanh Nhan, Chairwoman and General Director of the Advanced International Joint Stock Company (AIC), and 35 others will be brought to trial on December 21 for their accused involvement in wrongdoings at the Dong Nai General Hospital, the AIC, and some others.
The first-instance trial, to be held by the Hanoi People’s Court, is scheduled to last for 20 days.
Nhan and Tran Manh Ha, Deputy General Director of the AIC, were prosecuted for “violating bidding regulations, causing serious consequences” and “offering bribes”.
Tran Dinh Thanh – former Secretary of the Dong Nai provincial Party Committee, and Dinh Quoc Thai – former Chairman of the Dong Nai provincial People’s Committee, face the charge of “accepting bribes”.
Phan Huy Anh Vu, former Director of the Dong Nai General Hospital and Director of the provincial Health Department, was charged with “violating bidding regulations, causing serious consequences” and “accepting bribes”.
Other defendants were accused of “abusing position and power while performing duties”, “violating bidding regulations, causing serious consequences”, and “lacking a sense of responsibility, causing serious consequences”.
More than 30 lawyers have registered to defend the accused. The court also appointed lawyers to defend the eight who have fled and been put on the wanted list, including Nhan and Ha.
According to the indictment issued by the Supreme People’s Procuracy, Nhan had mastermined, led, and directly engaged in violations of bidding regulations, including setting up relations with officials in Dong Nai province, including Thanh, Thai, Vu, and Bo Ngoc Thu (then Director of the provincial Department of Planning and Investment), to suggest collusion and directly or indirectly order her employees to offer money and material profit totaling 43.8 billion VND (nearly 1.8 million USD at the current exchange rate) to these persons so that the AIC could illegally win bidding.
She reportedly had directed Deputy General Directors Hoang Thi Thuy Nga and Tran Manh Ha, along with employees, to collude with the investor and consulting units to facilitate the AIC to win bidding and falsify bidding papers so that this company won 16 bidding packages worth over 665 billion VND of the Dong Nai Hospital project, causing losses of more than 152 billion VND.
The Supreme People’s Procuracy held that Nhan’s escape has caused difficulties for the settlement of the case.
Investigation agencies have put her on the national and international wanted lists. They have also issued an appeal for Nhan to turn herself in to receive leniency.
Vietnamese firms seek cooperation opportunities in US market
A delegation of over 30 Vietnamese enterprises is paying a fact-finding tour to the US market from November 20 to December 1, with an aim to build effective business strategies in the global economy through digital transformation and innovation.
On November 22, the delegation, led by Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Hoang Quang Phong, was received by Vietnamese Ambassador to the US Nguyen Quoc Dung.
Dung updated the delegation on the two countries’ trade and investment cooperation situation as well as policies and prospects for development collaboration in the coming time, towards the 10th anniversary of the establishment of their comprehensive partnership next year.
He informed them of advantages, difficulties, challenges, as well as things to do when exporting to the US market.
The Vietnamese representative agency in the US will actively coordinate and support businesses in market research, provide information on US buyers as well as trade fairs, he pledged, advising firms themselves to pay attention to research development strategies based on digital platforms, and increase application of information technology in corporate governance activities.
The delegation held working sessions with host businesses on November 23, and had other activities in San Francisco and Los Angeles.
Vietnam, Denmark cooperate in production, management of organic products
The Danish Embassy in Hanoi on November 25 held a workshop on organic production, and certification and management of organic products to share experience between the two countries in this field.
The workshop is part of a long-term cooperation programme between the two countries in support of Vietnam’s efforts in transforming agriculture and food in a green and sustainable direction.
Speaking at the event, Danish Ambassador Nicolai Prytz said one of the reasons for Denmark’s success in organic products is that the country not only considers it a political priority, but also a cooperation on the basis of trust and long-term commitments between all parties in the value chain.
The workshop is a good opportunity to create conditions for leaders, managers, experts, researchers and enterprises from Denmark and Vietnam to continue to enhance the exchange of experience and knowledge in organic production, and management of organic products, he added.
Denmark is one of the world’s leading countries in organic agriculture and food production, and also the first country in the world to promulgate the Act on Organic Farming in 1987.
Tra fish nets impressive export growth
Tra fish exports recorded impressive growth in the first 10 months of 2022, with turnover eclipsing the 2.2 billion USD mark.
The yearly export turnover is forecast to top 2.5 billion USD, up 58% compared to that of the same period last year.
According to businesses, in 2022, global inflation and the Russia-Ukraine conflict have sharply increased the export of affordable white fish products such as tra fish. The import value of tra fish products from Vietnam have increased by 40-200% this year.
At present, the two biggest importers of Vietnamese tra fish are China and the US, accounting for 30% and 23% of the Southeast Asian country’s total export volume, respectively. In the January-October period, the value of tra fish exports to China reported a year-on-year rise of 110% to 647 million USD.
Those two members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and several Asian, North, and South American markets such as Australia, Singapore, Malaysia, Canada, and Chile also recorded impressive growth. Notably, the export to Canada posted a fourfold increase compared to that of the same period last year.
At present, Vietnam has over 400 businesses engaged in the export of tra fish, most of them have reported growth over the same period last year, mainly thanks to increases in export prices.
Tra fish exporters are advised to continue their negotiations to expand their markets, and take advantage of opportunities brought about by free trade agreements (FTAs) to boost exports and promote brand.
Conditions in place for Vietnam to boost wellness tourism
Wellness tourism is becoming increasingly popular among travellers, especially after the COVID-19 pandemic, and Vietnam is believed to hold much potential for developing it.
The country boasts many advantages for wellness tourism, including about 3,260km of coastline which is home to a large number of beautiful beaches such as Tra Co, Ha Long, Cat Ba, Cua Lo, Lang Co, Nha Trang, Mui Ne, Long Hai, Vung Tau, and Phu Quoc, to name a few; and various islands of all sizes that are suitable for relaxation and health improvement.
Besides, the country also houses rich mineral water resources, about 400 hot spring sources nationwide, that can be used in health care or production of bottled water. A diversity of herbal plants, about 3,850 species, is also a source of materials for traditional medicine or nutritional food. A system of historical and cultural relic sites, including Buddhist temples and Zen monasteries, with scenic landscapes can also be optimised to develop wellness tourism, according to the Institute for Tourism Development Research under the Vietnam National Administration of Tourism.
Over the recent past, many localities have moved to promote wellness tourism on the basis of their potential and advantages.
The Mekong Delta province of Long An has been known for many special ecological, relaxation, and wellness tourism products among domestic and foreign visitors. A highlight is relaxation and wellness tourism services in the “Canh dong bat tan” (Endless Field) tourism area in Moc Hoa district.
The Long An provincial Tourism Promotion Centre said this tourism area, operated by the Mephydica company, is supplying sightseeing and wellness tourism services and also producing herbal products, becoming a typical ecological and wellness tourism site of the province as well as the Mekong Delta as a whole.
Deputy Director of Mephydica Duong Van Toan noted all tourism products here are based on nature to help visitors relax and improve their physical and spiritual health.
Located in the southeastern region, Ba Ria-Vung Tau province also boasts various of wellness tourism products connected with maritime and insular resources in Vung Tau and Ba Ria cities, as well as Con Dao and Long Dien districts.
Trinh Hang, Director of the provincial Tourism Department, said Ba Ria-Vung Tau is renowned for many beautiful beaches and attractive landscapes, making it an ideal destination for maritime, relaxation, and MICE tourism.
Vietnam, Laos eye 2 billion USD in two-way trade
Vietnam and Laos expect to achieve 2 billion USD in two-way trade in the near future, given that the figure surged 28.2% annually to 1.4 billion USD in ten months of this year, heard a forum held in Vientiane on November 25.
Speaking at the event, Somvixay Vongthilath, Deputy Director of Trade Promotion Department under the Lao Ministry of Industry and Commerce (MIC), said the event offers a chance to listen to concerns of businesses and review the efficiency of existing cooperation frameworks to fine-tune policies, mechanisms and laws, thus helping firms improve their production and export capacity, even export to the third country.
Deputy head of the Vietnamese Ministry of Industry and Trade’s Department of Asia-Africa Markets Do Quoc Hung said Laos now ranks first among 78 countries and territories invested by Vietnam. Meanwhile, Vietnam is the third biggest investor in Laos, mostly in agriculture, banking, finance, telecommunications, manufacturing and processing.
Reports at the event focused on trade achievements between the two countries, bilateral cooperation in market management and energy development.
Dong Nai eyes selective FDI attraction
The southern province of Dong Nai, with its geographical and transport strength, has the advantage to promote selective attraction of foreign direct investment (FDI).
The industrial hub is located in the southern key economic region, serving as a northeast gateway to Ho Chi Minh City. It connects the south central and south Central Highlands regions with the entire southeast region, making the locality a favourable spot for the transport of goods to both domestic and foreign markets.
According to the provincial Department of Planning and Investment, as of October 31, Dong Nai raked in 1.01 billion USD worth of FDI, meeting 91% of the target set for the year.
In the period, there were 38 new projects licenced, whose registered capital amounted to 381.65 million USD. Most of them were invested by those from the Republic of Korea (RoK), Taiwan (China), Japan, and China. Meanwhile, 81 existing projects added 629.69 million USD to their capital.
Sweet potatoes enter Chinese market via official channels
Vietnam’s sweet potatoes have just got the greenlight to enter the Chinese market via official channels.
According to a notice from the General Administration of Customs of China, sweet potatoes of Vietnam must meet phytosanitary requirements, which are related to cultivation, monitoring, processing, storage, packaging and transportation.
Earlier, Chinese customs officers scheduled to conduct a virtual survey of potato growing areas and packaging facilities in Vietnam in late October.
Sweet potato is one of Vietnam’s important agricultural products. Most of its plantations concentrate in the Mekong Delta province of Vinh Long with more than 13,000 ha under the crop.
Currently, Vietnam has 11 kinds of fruits that are exported via official channels to China. Of these fruits, Vietnam has signed with China protocols on phytosanitary requirements for three kinds, including mangosteen, passion fruit and durian.
Vietnam fosters trade cooperation with Latin America
The Latin American region has for years been a potential market for Vietnam, Deputy Minister of Industry and Trade Do Thang Hai told the 2022 Vietnam-Latin America Trade Forum on November 25.
In terms of Vietnam’s trade exchange, the region has always been among the markets with the highest growth. Not only a potential export market for Vietnam’s key products such as garment and textile, footwear, and agricultural and aquatic products, Latin America is also an important source of raw materials for the Vietnamese processing industry with such products as corn, soybean, and animal feed.
Two-way trade nearly doubled from 11.6 billion USD in 2016 to 21.4 billion USD last year, of which 12.5 billion USD came from Vietnam’s exports.
The figure reached 18.7 billion USD in the first 10 months of this year, up 10.5% year-on-year, of which Vietnam’s exports were valued at 10.2 billion USD.
Notably, besides Vietnam’s key markets such as Brazil, Mexico, Argentina and Chile, newly emerging ones such as Panama, Colombia and Peru have become bright spots in trade exchanges between the two sides. Vietnam’s trade turnover with Colombia, Peru and Panama hit 674.7 million USD, 633.7 million USD, and 465.6 million USD last year, up 41.5%, 62% and 45.5% year-on-year, respectively.
At the forum, over 100 Vietnamese enterprises were helped to connect with 28 Latin American firms in various fields to seek cooperation opportunities. Vietnamese companies also showcased their products within the framework of the event.
ASEAN extends MoU on essential goods
The Association of Southeast Asian Nations (ASEAN) has extended the memorandum of understanding on the implementation of non-tariff measures (NTMs) on essential goods under the Hanoi plan of action on strengthening ASEAN economic cooperation and supply chain connectivity in response to the COVID-19 pandemic until November 30, 2024.
The MoU, signed by ASEAN Economic Ministers in 2020, commits ASEAN Member States (AMS) to refrain from imposing restrictive trade measures on essential goods and supplies except for public health emergencies.
AMS also aim to unilaterally rollback all non-tariff measures on essential goods that are not in conformity with the WTO Agreement. In cases where complete rollback of NTMs on essential goods are not feasible, AMS will discuss an appropriate modality to address the NTMs’ trade distorting effects, if any.
The MoU includes a list of 152 essential goods, consisting mostly of medical goods such as test kits and equipment. The list is based on a joint list by the World Trade Organisation and World Health Organisation.
Vietnam seeks IRRI’s more support to agriculture sector
Vietnamese Minister of Agriculture and Rural Development Le Minh Hoan on November 24 held a working session with the Manila-based International Rice Research Institute (IRRI).
Hoan, who was accompanying National Assembly Chairman Vuong Dinh Hue on his official visit to the Philippines, thanked IRRI’s support and cooperation with Vietnam in specific areas such as gene conservation, variety research, cultivation process, technology transfer and capacity building for Vietnamese officials, saying they have contributed to the sustainable development of Vietnam’s rice sector.
Vietnam’s rice sector has for many years remained a main pillar of national food security and actively contributed to global food security, he said.
As Vietnam’s agricultural sector in general and rice industry, in particular, are facing many challenges to undergo drastic transformation to enhance added value, quality, brand and environmental friendliness, Hoan suggested IRRI, as well as the Consortium of International Agricultural Research Centres (One CGIAR), continue to support the country in the areas that IRRI and One CGIAR have strengths and are in line with Vietnam’s Strategy for Sustainable Agriculture and Rural Development for the 2021-2030 period, with a vision to 2050.
He also said that the Ministry of Agriculture and Rural Development (MARD) wants to receive assistance in expanding a project on high-quality and low-emission rice cultivation areas in the Mekong Delta.
IRRI is collaborating with Vietnam in a series of activities from research on strains that are disease-resistant and adaptive to climate change to transfer and certify cross-border strains, reducing greenhouse emissions and applying mechanisation in rice production.
Vietnamese, Korean firms seek links for technological supply-demand
A hybrid networking took place in the northern port city of Hai Phong on November 25 to connect Vietnamese and Republic of Korea (RoK) businesses with supply capacity of and demand for technology.
Co-organised by the municipal Department of Science and Technology and the Korea Trade and Investment Promotion Agency (KOTRA Hanoi), the event saw many of its participants joining remotely from the RoK’s Incheon, Gyeonggi, Busan, and Seoul.
Within the day, more than 50 networking sessions are scheduled to introduce a series of technologies such as dry ice blasting for industrial cleaning, a product error detection technology to control and monitor the production process, and solutions for smart factories and machinery manufacturing.
According to the department, the organisation of the networking was based on a survey of demand from more than 100 Vietnamese firms, most of whom lauded the RoK’s sci-tech products for their diversity and easy application.
Da Nang hosts start-up innovation event
The Da Nang Startup and Innovation Festival (SURF) 2022 titled ‘Innovation – Mastering the Future’ officially opened on November 25.
The function features roughly 160 virtual and direct booths which showcase a range of products and services across various fields, such as technology, food, travel, automobiles, natural beauty products, and health care.
Furthermore, four thematic seminars on issues relating to innovative start-ups and three investment connection activities will also be held during the course of the festival.
Organised by the municipal Department of Science and Technology, SURF 2022 aims to help participating units advertise their products, as well as connecting innovative startup ecosystems in Da Nang and other provinces and cities throughout the country.
Moreover, the occasion also represents a chance to create fresh opportunities for local startups as they can gain access to international expert resources, capital, and technologies.
This year, SURF attracted more than 3,000 visitors and connect with 10 investment funds.