Tag: asia

  • One Mount develops comprehensive technology ecosystem

    One Mount develops comprehensive technology ecosystem

    One Mount provides solutions covering the entire financial services, distribution, real estate, and retail-sector value chain.

    Approved in June 2020, the National Digital Transformation Program aims to turn Vietnam into a country with digital technology competitiveness comparable to those of developed nations. This sets favorable conditions for Vietnam to actively capitalize on opportunities brought on by today’s technological revolution.

    According to experts, Vietnam has unlocked great potential for digital enterprises to thrive across the country. Technology has been the key factor leading to the explosion of innovative startups in the field of information technology.

    One Mount, with its comprehensive technology capabilities, was named at the Top 10 Vietnam ICT Companies 2021 event as a great example of the new breed of companies providing a suite of technological solutions and offerings for businesses and consumers across multiple life stages.

    Launched in the fall of 2019, One Mount had to navigate a global pandemic in its first two years of operation. This has brought it both challenges and opportunities as it sought to affirm the value of its technology business, which has contributed to the country’s technology and economic goals, even during this challenging period.

    After two years, One Mount has pioneered the deployment of technology solutions that help businesses digitalize their operations and solve bottlenecks in many traditional sectors.

    Leveraging its multi-faceted and modern technology offerings, One Mount is focused on optimizing benefits for value chains across a spectrum of industries and audiences including small to medium enterprises, end-consumers across distribution, retail and real estate, to name a few.

    In the distribution sector, VinShop has established itself as one of the country’s largest consumer goods distributors, which has helped to digitalize more than 80,000 small groceries. Taking advantage of technological advancements to provide maximum support for users, One Mount has connected businesses, manufacturers, and consumers within its ecosystem, allowing goods to reach customers quickly while ensuring stable prices.

    Besides improving the income of thousands of small groceries, VinShop also helps ensure the supply of essential goods while helping consumers feel confident about the quality of products.

    One Mount has developed a lifestyle super app with VinID, a loyalty platform serving millions of users on a monthly basis. VinID recently refined its point tiering system and is rolling out a more dedicated personalization engine, bringing users a more curated experience for their favorite products and brands.

    Meanwhile, OneHousing and OneHousing Pro Agent has established itself as the number one distributor and supplier of Masterise Homes projects in Hanoi. In addition to its premium services, the myHome application integrated with VinID has attracted ten thousand of homeowners and households during its beta launch.

    With more products and premium services on the horizon, OneHousing is expected to transform the real estate landscape in Vietnam by providing a complete one-stop shop experience for home buying, selling and living.

    To realize this early success and fulfill its grand vision, One Mount has formed landmark strategic partnerships with reputable industry leaders like TechcomBank and Google.

    The former has bolstered the vision of bringing financial solutions to more people and underserved areas across Vietnam while the latter helped develop powerful technology infrastructure and AI capabilities via Google Cloud offerings.

    One Mount commits to supporting Vietnam’s digital transformation strategy.

    Recently, One Mount’s potential was affirmed by VINASA when the latter included it among its Top 10 Vietnam ICT Companies 2021. One Mount nabbed a spot in three different categories: Top 10 Companies Providing Digital Transformation Platforms, Top 10 Fintech Companies, and Top 10 Logistics and E-Commerce Companies.

    One Mount was selected by HR Asia Magazine as one of its Best Companies to Work For in Asia 2021 in recognition of its outstanding HR practices, attractive benefits, policies, and engaging work environment.

    With a large technological ecosystem, One Mount provides solutions and services along the entire value chain in the financial services, distribution, real estate, and retail sectors through its three core business units: VinShop, VinID, OneHousing.

  • Volvo’s OTA Update Optimises EV Range With New App

    Volvo’s OTA Update Optimises EV Range With New App

    Swedish automaker Volvo has started to deploy an OTA update which also comes with a new app called “Range Assistant” which optimizes the range of its electric cars. It features a smart battery management tool that has a preconditioning timer, and the assistant app itself. This update is also coming to Volvo’s subsidiary Polestar which exclusively makes electric vehicles.

    “Through in-house development of software and over-the-air updates, we can constantly improve our cars and make sure that your electric Volvo stays fresh. The Range Assistant app is a great example of how quick development and deployment of new features can improve the Volvo customer experience every day,” said Sanela Ibrovic, the head of connected car experience at Volvo.

    The app gives the driver an accurate indication of the estimated range remaining on a trip and offers real-time energy consumption data which helps the driver also understand the factors that impact range. The range optimizer app right now is being launched in a beta stage which can also automatically adjust the climate control system.

    Volvo drivers could see increased range improvements from smart battery management and regeneration performance and a smarter timer to precondition the EV battery. Currently, the first car to receive the update is the Volvo XC40 Recharge and this update will also come to the C40 Recharge.

    The update will also come to the Polestar branded cars which will also get the Range Assistant app which includes a new eco climate mode that enhances efficiency and reduces demand on the battery from the climate system.

    The battery preconditioning system is also now linked to the Google Maps app which is embedded in the car as it is based on Android Automotive enabling the driver to know where public charging stations are, destinations, or waypoints – allowing them to optimize for the fastest possible charge times on the road.

  • Cambodia’s exports to Vietnam quadruple

    Cambodia’s exports to Vietnam quadruple

    Cambodia’s exports to Vietnam nearly quadrupled to $3.7 billion in the first nine months of this year, according to statistics from the General Department of Vietnam Customs.

    Cambodia increased its exports of vegetables and fruits by 61 percent, cashew by 595 percent, soybeans by 549 percent, and rubber by 391 percent.

    Exports of wood products, fabric, scrap, and other goods grew by 5-300 percent.

    Trade between Cambodia and Vietnam increased by 90.9 percent year-on-year in the first nine months of this year to US$7.2 billion.

    According to the Cambodian Ministry of Agriculture, Forestry and Fisheries, the country exported agricultural products to 90 countries and territories though Vietnam (64.11 percent), Thailand (21.49 percent) and China (9.69 percent) accounted for most of it with all others accounting for only 4.71 percent.

  • VN-Index slips in narrow band

    VN-Index slips in narrow band

    Vietnam’s benchmark VN-Index fell 0.01 percent to 1,395.33 points Tuesday, continuing along with a narrow band near the 1,400-range resistance.

    Last-minute selling pressure pulled the index down by 0.2 point. It has been fluctuating within a three-point margin for the past six sessions, after surging to the 1,390-range on Oct. 11.

    Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 14 percent to VND20.34 trillion ($899 million).

    The VN30 basket, comprising the 30 largest capped stocks, saw 17 tickers in the red, led by STB of Ho Chi Minh City-based lender Sacombank with a 2.6 percent drop.

    GAS of state-owned Petrovietnam Gas dropped 1.7 percent after hitting a new peak Monday.

    VRE of retail real estate arm Vincom Retail fell 1.6 percent to the lowest in over a week.

    MSN of conglomerate Masan Group lost 1.4 percent, while HPG of steelmaker Hoa Phat Group fell 1.2 percent.

    Foreign investors were net sellers to the tune of VND470 billion, with the strongest pressure on HPG and VHM of real estate giant Vinhomes.

    The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.55 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.23 percent.

  • Renault India Announces Special Offers Across Range For The Festive Season

    Renault India Announces Special Offers Across Range For The Festive Season

    Renault India has announced special offers across its product range right in time for the festive season. These offers include maximum benefits of up to ₹ 1.30 lakh on select variants across the line-up. The company said that the offers can be availed while purchasing a new Renault vehicle during the festive period. The company has introduced the new RXT (O) variant on the Renault Kiger as part of the special offers as well, which is priced from ₹ 7.37 lakh onwards. (ex-showroom).

    The offers also arrive as part of Renault India’s 10th-anniversary celebrations. The automaker will be offering loyalty benefits of up to ₹ 1.10 lakh, which will be over and above the festive offers and benefits. Furthermore, the brand has rolled out 10 unique loyalty rewards to mark its 10 years in India. Other offers include gift vouchers worth ₹ 49,999, which are up for grabs every day.

    The entry-level Renault Kwid comes with benefits up to ₹ 40,000 along with special loyalty benefits of up to ₹   65,000. Customers also get an additional ₹ 10,000 cash offer on select 2020 made cars, and an exchange bonus of ₹ 10,000 under the relive scrappage program.

    The new Renault Kiger, on the other hand, comes with a special loyalty benefit of up to ₹ 95,000, along with a corporate discount of up to ₹ 10,000 or a special offer for rural customers. The popular-selling Renault Triber comes with benefits of up to ₹ 60,000, special loyalty benefits of up to ₹ 75,000, and a ₹ 10,000 bonus under the relive scrappage program. The Renault Duster gets maximum benefits of up to ₹ 1.30 lakh along with special loyalty benefits of up to ₹ 1.10 lakh and ₹ 10,000 worth of exchange benefits under the relive program. All models across the line-up get the buy now, pay in 2022 offer as well.

    More recently, Renault also announced that the Kiger subcompact SUV is the most fuel-efficient offering in its class with an ARAI-certified figure of 20.5 kmpl. This is for the 1.0-liter turbocharged petrol version of the car that packs 99 bhp and 160 Nm of peak torque. The motor is paired with a 5-speed manual and CVT options.

  • Thai AirAsia Parent Seeks to Raise $540 Million in Fresh Capital

    Thai AirAsia Parent Seeks to Raise $540 Million in Fresh Capital

    Asia Aviation Pcl, the operator of Thailand’s biggest budget carrier Thai AirAsia Co., plans to raise as much as 17.9 billion baht ($535 million) from new loans, share sales and convertible debt offerings as it attempts to restock coffers depleted by the worst crisis in aviation history.

    A revised financial restructuring plan for the company has been put forward and Asia Aviation is consulting with new investors, shareholders and creditors, Asia Aviation said in an exchange filing late Tuesday.

    The holding company joins a plethora of airlines globally trying to repair their balance sheets after Covid-19 all but put a stop to international air travel in early 2020. While climbing vaccination rates are seeing travel spring back in some parts of the world, in Asia it’s nowhere near pre-pandemic levels. Thai Airways International Pcl and Nok Airlines Pcl are also pursuing financial restructurings.

    Asia Aviation Chief Executive Officer Santisuk Klongchaiya said the fresh funds should allow the airline to increase flights amid an expected recovery in tourism and travel.

    Thailand’s capital Bangkok has administered at least two doses of Covid vaccine to 71% of its adult population, paving the way for the city to welcome back inoculated visitors without mandatory quarantine from Nov. 1., officials said Wednesday.

    Asia Aviation plans to raise a total of 8.8 billion baht from a private share sale to Malaysia’s AirAsia Group Bhd. and an individual investor. That will comprise around 4.5 billion of new shares to AirAsia to raise 7.8 billion baht and another sale to a group of investors led by Pitharn Ongkosit, the chief executive officer of KCE Electronics Pcl, to raise 1 billion baht.

    The company will also raise 2.2 billion baht from sales of convertible bonds and 3 billion baht from a rights offering. Around 3.9 billion baht will come from loans.

    Asia Aviation, which owns a 55% stake in Thai AirAsia, will use most of the proceeds to acquire the shares of Thai AirAsia it doesn’t already control. Other funds will be used to repay debt.

  • Amazon, Ikea commit to using zero-carbon shipping fuels by 2040

    Amazon, Ikea commit to using zero-carbon shipping fuels by 2040

    Nine big companies including Amazon, Ikea and Unilever have signed up to a pledge to only move cargo on ships using zero-carbon fuel by 2040.

    They hope the “aggressive” target will push the heavily polluting shipping industry to decarbonize faster.

    Cargo shipping produces one billion tonnes of climate pollution each year – as much as the country of Germany.

    But critics say shipping firms are not doing enough to meet Paris Agreement goals on emissions.

    The Aspen Institute – the non-governmental Organization coordinating the campaign – expects other retailers and manufacturers that rely on maritime shipping to sign up.

    “Maritime shipping, like all sectors of the global economy, needs to decarbonize rapidly if we are to solve the climate crisis, and multinational companies will be key actors in catalyzing a clean energy transition,” said president Dan Porterfield.

    “We urge other cargo owners, value chain actors, and governments to join forces with us.”

    The companies pledging zero-carbon shipping by 2040 are:

    • Amazon
    • Brooks Running
    • Frog Bikes
    • Ikea
    • Inditex (owner of Zara)
    • Michelin
    • Patagonia
    • Tchibo
    • Unilever

    With about 90% of world trade moving by sea, maritime shipping accounts for 3% of all global emissions. That could rise to 10% by 2050 if the industry continues to rely on carbon-intensive fuels, experts say.

    The shipping industry also produces 10-to-15% of the world’s manufactured sulfur oxide and nitrous oxide emissions, which can cause respiratory illness.

  • 5G innovations and policy-making key to digital evolution in the Asia Pacific

    5G innovations and policy-making key to digital evolution in the Asia Pacific

    In conjunction with Huawei’s 12th Global Mobile Broadband Forum (MBBF), Telecom Review Asia Pacific interviews Daisy Zhu, vice president of Huawei Wireless Marketing to learn about the direction of 5G evolution and key trends that shape the development of the wireless industry in the Asia Pacific region.

    We are in the dawn of a new digital age where 5G represents a milestone in the advancement of mobile communications. In just over 5 years since the ITU released its vision for 5G, there are now 176 commercial 5G networks around the world, deployed over 1.5 million base stations to more than 500 million 5G users. Recognized as a key driver for the digital economy, 5G has a transformative impact on lives and societies where it is deployed.

    In the consumer market, where average 5G download speeds are now 10 times faster than 4G and HD video buffer times reduced from 3 seconds to just half a second, Daisy Zhu, vice president of Huawei Wireless Marketing cited notable network growth as 5G offers enhanced user experiences on more immersive OTT content and applications. The use of artificial intelligence (AI) and virtual reality (VR) to create better-simulated experiences is, in turn,also fuelling new economic activities such as live streaming.

    Across industries, the road to commercial 5G adoption has been fraught with difficulties, but countries have made significant strides. Since it has been commercialized 2 years ago, 5G now supports industrial digitalization through more than 10,000 scenarios in over 20 industries worldwide.

    Sharing China’s success in 5G deployment, Zhu said, “In China, 5G is on a fast development track to accelerate the digital transformation of verticals such as coal-mining, steel manufacturing, port operation, and new media. Across these industries, 5G-based digital applications have helped yield improved quality and increased production efficiency while reducing costs to positively impact various sectors.”

    Innovation that balances performance, coverage, and energy consumption

    Of the 176 countries where 5G has been rolled out, about 80%-90% have adopted high bandwidth, large capacity TDD, which when combined with Massive MIMO, can boost peak to deliver the promise of 10 Gbps real-time, immersive experiences. Massive MIMO can also deliver better energy efficiency per bit, compared to conventional antenna units, to help mobile network operators reduce their carbon footprint and meet their carbon neutrality objectives.

    Even though network traffic is projected to multiply hundredfold in a fully connected digital world, the World Economic Forum estimates that digital technology can reduce 15% of global carbon emissions by 2030. As a global ICT leader, Huawei dives into innovative ways to help mobile network operators build green, low carbon networks to address higher energy consumptions led by a global ramp up in data traffic.

    Zhu highlighted Huawei’s MetaAAU, a technological breakthrough in Massive MIMO coverage and energy efficiency launched during the MBBF 2021. Designed to strike an optimal balance between performance, coverage, and energy consumption, Huawei’s MetaAAU uses ultra-massive antenna arrays to significantly increase antenna gains and yield improved output or transmit power of an antenna unit. Without compromising on coverage, the MetaAAU reduces power consumption by about 30% compared with traditional AAU modules.

    Huawei’s C-RAN solution is another green network architecture that helps network operators reduce electricity consumption. Featuring a centralized BBU, C-RAN simplifies site construction as equipment rooms are no longer needed at base stations. As a result, air-conditioning can be decommissioned to significantly reduce on-site energy consumption by up to half.

    Evolving into digital service providers

    As innovations such as 5G, IoT, and cloud take centre stage in a digital era, network operators are challenged to first undergo digital transformation.

    To capture new growth, Zhu opined that “network operators must move away from the traditional model of selling connectivity to adopting a multi-dimensional role as content providers, cloud service providers, and system integrators”.

    South Korea’s network operators, for instance, create unique content so that they do not have to rely solely on OTT providers for content. As system integrators, network operators are tasked to help verticals integrate applications on the cloud to fully digitalize. Since SMEs form the backbone of the economy in the Asia Pacific, Zhu stressed that network operators should tailor solutions to address the needs of SMEs.

    To support greater, more diversified, and more stringent demands from both the consumer and enterprise markets, Huawei proposes the “1+N” 5G target network as the one fundamental network to provide continuous and large bandwidth coverage for “N” types of capabilities.

    In the case of the consumer market, a “1+N” network provides continuous large bandwidth coverage to deliver seamless roaming experiences to subscribers. In the Asia Pacific, where manufacturing is a dominant industry, smart factories require 20ms latency and 99.99% reliability to support real-time decision-making powered by AI. Precision-positioning is another use case in smart factories that is best founded on a “1+N” network infrastructure so that high-performing capabilities can be localized to perform more sophisticated functions as needed to keep operational costs as low as possible.

    Policy-making recommendations in the Asia Pacific

    With global DOU expected to reach about 700G by 2030, Zhu highlighted the importance of licensing the 6GHz band as the next golden band – also the last available midband spectrum after the C-Band.

    Home to over half of the world’s population, Asia Pacific will witness an exponential surge in data consumption. Echoing GSMA’s recommendation, Zhu proposed that governments allocate 2GHz of 6 GHz mid-band spectrum so that network operators have adequate access to spectrum to meet the ever-increasing demand for data. In China, for instance, the entire 1.2 GHz in the 6 GHz band has been allocated – comprising 500 MHz for Wi-Fi and 700 MHz for IMT connection.

    “Compared to the mmWave spectrum band, the 6 GHz band has been tested and found more suited to power 5G as it can coexist with fixed satellite systems without causing any interference,” said Zhu.

    An enabler for the digital transformation of industries and sectors, 5G has the potential to boost the world’s GDP by $2.2 trillion. In the new digital society, IoT and NB-IoT will also power up to 100 billion connections by 2030. Zhu called on all ecosystem stakeholders to embrace digitalization to ride on the 5G wave.

    To advance 5G deployment, favorable industry policies are also critical. In Thailand, regulators ensure that spectrum auctions are reasonably priced so that network operators can invest in constructing 5G infrastructure for eventual rollout. Introducing spectrum instalments is another initiative that will not overly burden network operators.

    Finally, network operators can be discouraged from leaving purchased spectrum bands unutilized to jack up prices. To counter such practices, regulators can mandate network operators to improve network coverage quantitively in a given timeframe.

    Essentially, spectrum is a scarce resource. Proper spectrum management and sound policy-making will ensure equitable spectrum access for 5G to develop and mature, in turn spurring economic recovery, growth and resiliency in the region.

  • Hong Kong and Macau Announce Wealth Connect Bank List

    Hong Kong and Macau Announce Wealth Connect Bank List

    China’s two special administrative regions announced their list of eligible banks to participate in the cross-border wealth management scheme.

    In Hong Kong, HSBC, Standard Chartered, Citi and more were amongst those on the list of 19 approved banks, according to an announcement yesterday from the city’s central bank.

    Three banks – Bank of East Asia, DBS and Dah Sing Bank – were only allowed to sell products via the southbound route.

    Considering that it will be the first time for retail investors to conduct cross-boundary investments, we will closely monitor the operation of the cross-boundary Wealth Management Connect and step up investor education and investor protection work together with the industry, said Hong Kong Monetary Authority chief executive Eddie Yue Wai-man in a statement.

    Concurrently, Macau’s central bank also announced its list of seven lenders approved for the cross-border scheme earlier this week.

    Bank of China, Bank of Communications, China Construction Bank, China Guangfa Bank, CMB Wing Lung Bank, ICBC and Luso International Banking were approved to launch services in the Wealth Connect program as of yesterday, according to the Monetary Authority of Macau. z

  • Paris Baguette arrives in Indonesia

    Paris Baguette arrives in Indonesia

    Erajaya Food & Nourishment (“EFN”) and Paris Baguette of Singapore (“PB”), officially entered into a joint venture partnership through the signing of a Joint Venture Agreement represented by Ms. Gabrielle Halim from EFN and Mr. Jin-Soo Hur from PB.

    Through this partnership, Paris Baguette, the well-loved fast-casual bakery from South Korea, known for its quality, delicious and innovative array of pastries, breads and cakes, officially enters the Indonesian market. The highly-anticipated debut would make Indonesia the fourth country in South East Asia that Paris Baguette would call home.

    Paris Baguette’s entry into the Indonesian market promises to break through the country’s F&B clutter, by offering elevated culinary concepts and a plethora of delicacies, crafted using premium ingredients, guaranteed to satisfy the most discerning taste.

    Gabrielle Halim, CEO of Erajaya Food & Nourishment, stated, “We are honoured to partner with Paris Baguette to expand its footprint in Indonesia. Their commitment to innovation and quality is in line with our vision to become a leading F&B player in Indonesia. We are certain the food lovers in Indonesia will welcome and enjoy Paris Baguette’s fresh concept and unique offerings when we open our first stores shortly.”

    “We are delighted to partner with Erajaya Food & Nourishment, who shares our vision of making the world a happier place through innovative products and by leading with integrity. Together with our partner, we will bring the high-quality treats that we love from Paris Baguette to Indonesia. Our expansion into Indonesia is a part of our globalization strategy.” said Hana Lee, Vice President of Paris Baguette SEA, SPC Group.

  • Tesco opens checkout-free store in London

    Tesco opens checkout-free store in London

    Tesco has become the latest retailer to open a checkout-free store in the UK. Replacing traditional tills with high-tech cameras, weight sensors, and a mobile app, the supermarket giant is launching its first high street store trial, called GetGo, in London on Tuesday.

    Tesco said it was aiming to “improve the shopping experience” and save customers’ time.

    The firm – which is one of the UK’s largest employers – stressed that the move away from cashiers will not reduce the number of staff in stores, with the High Holborn site continuing to employ 22 workers, which it said is in line with other convenience stores.

    It comes after Aldi opened its own till-free shop last month in Greenwich, with Amazon having launched its first Amazon Go grocery shop seven months prior in Ealing, before expanding to five more sites in the capital.

    Morrisons, Lidl, and the Co-op have also trialed checkout-free technology in their stores.

    Sainsbury’s, however, became the first UK supermarket to open a checkout-free store in April 2019, also in Holborn. But it abandoned the project five months later, saying: “Take-up was not as we had expected and it’s clear that not all our customers are ready for a totally till-free store.”

    Tesco is reported to have been testing its “frictionless” technology at a trial site within the supermarket group’s headquarters in Welwyn Garden City since 2019.

    The retailer said the technology had now been lifted from the trial site after a lengthy period of testing and improvements.

    To shop in the new store, shoppers will need to use the Tesco app, which will be scanned as they enter the building. They will then pick up the items they wish to buy and walk straight out of the store, receiving a receipt and being charged for the products once they have left.

  • Furniture companies seek reopening autonomy

    Furniture companies seek reopening autonomy

    Furniture companies in Binh Duong are proposing more autonomy in imposing Covid-19 measures as they reopen after months of social distancing.

    Members of Binh Duong Furniture Association said due to the limited number of government workers, their proposals to resume production have faced delays.

    There are about 50 staff working as industrial park managers in the province, though there are around 3,900 companies.

    Apart from these parks, there are over 50,000 companies in the province.

    Deputy Director of Binh Duong Department of Industry and Trade Nguyen Thanh Toan said the province is set to issue guidelines for companies to reopen with safety measures.

    The province is currently letting companies test their own workers. It allows the combination of samples from three workers in one test to reduce costs.

  • Mercedes dealer reports record loss in Q3

    Mercedes dealer reports record loss in Q3

    Hang Xanh Motors Service JSC (Haxaco), a major Mercedes-Benz dealer in Vietnam, reported a record loss, more than VND33 billion ($1.4 million) in Q3, due to social distancing orders.

    Revenue in Q3 was VND700 billion, down 59 percent compared to the same period last year.

    Social distancing measures applied in Hanoi, Ho Chi Minh City and other localities in this quarter have seriously affected Haxaco and the automobile industry. The company’s two branches in HCMC had to temporarily close in Q3 while another in Hanoi was closed until Sept. 12.

    “This has caused a decline in our sales and services during this period,” the company noted.

    Between January and September, the auto dealer’s revenue was VND3.4 trillion, down 9 percent over the same period, equivalent to 35 percent of this year’s business plan.

    However, profit dropped by 45 percent to VND44 billion.

    Despite the revenue decline, the company retains a positive forecast for the last quarter of this year. It has thoroughly prepared to resume operations in the new normalcy, with all employees fully vaccinated to ensure operational safety.

    Previously, in the annual meeting at the beginning of the year, the company set a business plan for 2021 with a net profit of VND126 billion.

  • Vietnam set to keep public debt under control

    Vietnam set to keep public debt under control

    Vietnam is set to keep its public debt under control this year at 43.7 percent of GDP, against the cap of 60 percent.

    This amounts to around VND3,700 trillion ($162.58 billion), according to a government report recently submitted to the National Assembly.

    Last year, public debt was 55.3 percent against a threshold of 65 percent.

    The government is set to pay VND365.93 trillion in debt this year. It said debt duties so far have been paid fully and on time.

    But the complicated Covid-19 situation is set to cause challenges to achieve growth targets this year.

    GDP expanded by only 1.42 percent in the first nine months, while a lower-than-expected growth rate for the year could cause a negative impact on budget overspending and public debt safety indicators.

    Issues in negotiation, signing and disbursement of Official Development Assistance loans due to Covid-19 and other knots in policies and differences between domestic and foreign administrative procedures are set to put more burden on mobilizing money domestically.

  • Vietnamese apathetic over iPhone 13 mini

    Vietnamese apathetic over iPhone 13 mini

    iPhone 13 mini seems to be the least favorite model of the latest Apple smartphone lineup, accounting for only 5 percent of total pre-orders in Vietnam.

    The most favored is iPhone 13 Pro Max with 70 percent pre-orders, followed by iPhone 13 and iPhone 13 Pro, each 12.5 percent, according to data from retail chains.

    But the iPhone 13 mini, the smallest and cheapest of the lineup, is set to see shortages due to a lack of supply.

    For retail chain CellPhoneS, only 2 percent of its iPhone 13 imports are mini.

    “We might only meet 50 percent of customer demand,” said spokesperson Nguyen Lac Huy.

    The unofficial market, where buyers pick up the phone in Singapore and Hong Kong and bring them back to Vietnam, does not seem to have a lot of supply for iPhone 13 mini either.

    “We only imported a small number as there is almost no demand from customers,” said a smartphone vendor in downtown Hanoi.

    Last year, the iPhone 12 mini was also the least favorite. Many stores had to repeatedly lower prices to get rid of their inventory.

    Industry insiders say Vietnamese prefer the most expensive iPhones.

    The four models of the iPhone 13 line is set to be officially delivered to Vietnam starting Oct. 22.