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Tag: Vietnam

  • Vietnam probes wind towers imported from China, weighs anti-dumping tax

    Vietnam probes wind towers imported from China, weighs anti-dumping tax

    Vietnam’s industry ministry has launched an investigation that could lead to anti-dumping duties on wind towers originally from China, following a complaint by domestic producers, the government said on Saturday.

    Producers in Vietnam have claimed that dumping of Chinese-origin towers has caused “significant damage” to them, the government said in a statement, without elaborating.

    “In case of necessity, based on preliminary investigation results, the trade ministry can apply temporary anti-dumping measures to prevent dumping activities that hurt domestic manufacturing,” the statement added.

    The government gave no timeline for completing the investigation.

    Neither Vietnamese customs nor the statistics office provide data on wind tower imports.

    According to the trade ministry, local producers were proposing an anti-dumping tax rate of 97%.

    Wind towers imported to Vietnam currently enjoy a most-favored nation (MFN) tariff of 3%.

    Vietnam is looking to boost wind energy as it begins the transition to becoming carbon-neutral by mid-century, aiming for wind, most of it onshore, to account for 18.5% of the total power mix by 2030.

    The Chinese embassy in Hanoi did not immediately respond to a request for comment outside of business hours.

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  • Indonesian cafe chain Kenangan Coffee enters Singapore

    Indonesian cafe chain Kenangan Coffee enters Singapore

    F&B unicorn Kopi Kenangan, known as Kenangan Coffee outside Indonesia, has expanded its footprint into Singapore, opening its first store at Raffles City Shopping Centre.

    The Singapore expansion follows Kenangan Coffee’s international debut last year in Malaysia, where it currently has more than 20 stores.

    “The profound love that Singaporeans have for coffee, from kopitiams to contemporary cafes, inspired Kenangan Coffee’s leap into this vibrant market,” said Edward Tirtanata, group CEO and co-founder of Kenangan Coffee. “The city’s diversity and its global F&B prominence make our expansion here a pivotal milestone.”

    The company said it plans to expand its presence to other Southeast Asian countries before expanding globally.

    “…We aspire to be the most-loved consumer brand in Southeast Asia, and Singapore will be a key foothold in helping us achieve this mission,” said James Prananto, co-CEO and co-founder of Kenangan Coffee.

    Kopi Kenangan became the first F&B unicorn in Southeast Asia early last year after raising US$96 million in a Series C funding round, which valued the company at more than $1 billion. The coffee chain, founded in 2017 by Tirtanatam, Prananto, and Cynthia Chaerunnisa, has more than 900 stores across Malaysia, Singapore and Indonesia.

  • Maison Kitsune opens first store in Vietnam

    Maison Kitsune opens first store in Vietnam

    Luxury fashion house Maison Kitsune has opened its first physical presence in Vietnam in conjunction with local distributor Tam Son International.

    The store, located on Trang Tien, one of Hanoi’s busiest streets, combines French and Japanese influences, as well as Vietnamese fine arts and local cultural identity.

    The store features a stone-paved facade and a warm colour tone running throughout, with four interconnected sections divided by wooden walls inspired by wicker art, furniture, and ceiling lighting, trying to commemorate Vietnamese heritage and workmanship.

    According to the firm, Maison Kitsune’s store setting captures the essence of the “Paris – Tokyo meets” lifestyle. Kitsune’s signature is light oak, herringbone floors, and marble counters, which highlight the brand’s minimalist design philosophy.

    Created in 2002 by Gildas Loaëc and Masaya Kuroki, Maison Kitsune offers a variety of brands, including Art de Vivre, integrating a fashion brand (Maison Kitsune), music label (Kitsune Musique), and coffee shops (Cafe Kitsune).

    The company operates in several countries and territories, including Thailand, Hong Kong, Japan, and the United States. In 2021, the brand made its debut in Beijing, China.

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  • Bamboo Airways set to downsize fleet

    Bamboo Airways set to downsize fleet

    After restructuring its flight network, Bamboo Airways has said it will also reduce the number of aircraft to lower costs.

    An executive at the airline said the restructuring in the past two months included discontinuing unprofitable routes.

    The airline has not yet announced the number or type of aircraft that will be grounded.

    According to German civil aviation database Planespotters, Bamboo Airways currently operates 23 aircraft, seven fewer than last year.

    It plans to seek approval from regulatory authorities to increase the size of its fleet to over 30 in future, though again, no concrete plans have been announced.

    In a recent report to the Ministry of Transport, the Civil Aviation Authority of Vietnam said it supports the expansion plan but added the airline needs to ensure it has the financial capacity, human resources, and aviation infrastructure.

    By flying three different aircraft – Airbus, Boeing, and Embraer – that do not allow interoperability, Bamboo Airways has additional costs in terms of hiring pilots, technicians, and training instructors for each of them.

    Many other Vietnamese carriers, such as Vietjet, Pacific Airlines, and Vietravel Airlines, only fly Airbus aircraft.

    All of Vietnam Airlines’ narrow-body aircraft are from Airbus, while its wide-body ones are a mix of Airbus and Boeing.

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  • EVN seeks to speed up electricity imports from Laos

    EVN seeks to speed up electricity imports from Laos

    Vietnam Electricity (EVN) is seeking approval from the government to speed up the import of electricity from Laos since shortages are forecast in the northern region.

    It plans to import electricity equivalent to 225 MW from the Nam Mo and Houay Koauan hydropower plants.

    It is also seeking permission to link up the Savan 1 and 2 wind power plants in Laos with the Vietnamese grid.

    Until 2025 no new major power plant is set to enter the grid in northern Vietnam, which is expected to face shortages.

    By 2025 the shortage is estimated to be 3,630 MW.

    Purchasing from Laos is economical since its hydropower costs only 6.95 cents per kilowatt-hour, lower than local prices, EVN said.

    In August Prime Minister Pham Minh Chinh approved a proposal to import 2,698 MW worth of power from Laos, with EVN signing purchase contracts for around 83% of it.

    The north suffered a crippling power shortage in summer this year, with many localities resorting to load shedding. Imports from Laos and China met 10% of demand during the period.

     

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  • iPhone 15 prices plunge 20% in three days

    iPhone 15 prices plunge 20% in three days

    An iPhone 15 Pro Max brought from overseas is now sold at around VND40 million (US$1,650) in Vietnam, down 20% in three days.

    Smartphone shops in Hanoi and Ho Chi Minh City on September 26 offered the VND40 million price for 256GB storage option. Higher storage options of 512GB and 1TB cost VND45 million and VND58 million, respectively.

    Traders queued up to buy the product at Apple stores in Singapore and Thailand and brought them to Vietnam unofficially.

    The first ones were available on Friday last week, one week before they are sold officially in Vietnam, at prices around VND70 million, or nearly 50% higher than official prices in Vietnam.

    Nguyen Hieu, owner of an unofficial Apple shop in Hanoi, said that he had anticipated the drop in prices this year as the iPhone is sold in Vietnam only one week later than Apple’s tier-1 markets, compared to several weeks in previous years.

    He only bought 20 iPhone 15s to sell in the last three days.

    Retail chains are reporting a shortage of the most expensive option, the iPhone 15 Pro Max, due to high demand from preorders.

    Customers will have to wait until the end of October for more supply, retailers said.

  • Porsche Vietnam presents new Cayenne

    Porsche Vietnam presents new Cayenne

    The third generation of Porsche “Sports Car for Five” features comprehensive upgrades to the powertrain, chassis, design, and equipment, further enhancing driving performance and offering luxurious comfort.

    With the vision “Further Together”, Porsche Vietnam unveiled the all-new and thoroughly refined Cayenne. The third generation of the luxury SUV made its national debut at the Contemporary Space of Porsche Cayenne at Porsche Centre Saigon and Porsche Studio Hanoi, equipped with a highly digitalized display and control concept, new chassis technology, and innovative high-tech features.

    Ever since its world premiere in 2002, the Cayenne has been a game-changer. Combining the performance characteristics of a Porsche with luxury and utility, it is the definitive sports car in the SUV segment and a true pioneer.

    Since its establishment in 2007, Porsche Vietnam has been turning sports car dreams into reality. One-third of all Porsche vehicles delivered in Vietnam are Cayenne models, making it the best-selling Porsche here to date.

    “We are excited to introduce the new Cayenne in Vietnam with a tremendous product upgrade. The new Cayenne creates more opportunities for Vietnamese Porsche fans to experience their dream sports car than ever before,” said Andreas Klingler, general director of Porsche Vietnam.

    Key highlights of the new Cayenne include high-definition HD Matrix LED Headlights that provide road illumination tailored to every driving situation, an air quality system that filters pollutants from the air in the interior, and, for the first time in the Cayenne, front passengers have their own infotainment display—for streaming videos during the trip, for example.

    With its extensively upgraded design and more powerful engine range, the Cayenne emphasizes its claim to be the sportiest car in its segment.

    A highly significant model launch adds to Porsche Vietnam’s momentum. Since it was officially established in 2007, Porsche Vietnam has grown to become one of the most exciting markets for Porsche, both from a global and regional perspective.

    After marking its 15th anniversary in 2022, Porsche Vietnam carries a positive momentum forward into 2023, Porsche’s 75th anniversary year, with the launch of the new Cayenne. Porsche has maintained a steady position as Vietnam’s top luxury sports car brand.

    “We see an increasing number of Porsche cars on the roads of Vietnam. Our biggest achievement so far is building and spreading sports car fascination, nurturing a passion for the brand, and turning sports car dreams into reality. This reflects the aspirations that motivate us, and more notably, it underscores the passionate support from our valued customers and fans in Vietnam,” Klingler said.

    At Porsche, the brand interacts with sports car enthusiasts in engaging and innovative ways. Porsche’s already attractive product portfolio now receives a boost with the new Cayenne, with a comprehensive range of upgrades ready to take any family further together.

    The all-new Cayenne: Featuring Porsche Driver Experience

    Porsche has integrated a completely revised display and control concept into the new Cayenne.

    The new Porsche Driver Experience, first introduced in the Porsche Taycan, focuses on the driver’s axis and optimizes operation. Functions that the driver frequently uses are located directly on or immediately next to the steering wheel.

    For example, the lever located on the left behind the steering wheel now has additional functions for operating the driver assistance systems. The automatic transmission selector lever in the new Cayenne is now on the dashboard.

    This makes room on the new center console for storage compartments and a large air conditioning controller in an elegant black panel design.

    Large, easily accessible controls combined with mechanical air conditioning switches and a haptic volume controller ensure optimum operability and a refined look.

    A key feature of the new Porsche Driver Experience is the balance between digital and analog elements. For the first time, the redesigned cockpit of the Cayenne includes a fully digital 12.6-inch instrument cluster with a curved and free-standing design and variable display options. An optimized head-up display is also available.

    The standard 12.3-inch central Porsche Communication Management display integrates harmoniously into the new dashboard and provides access to all the relevant vehicle functions.

    Native apps such as Spotify® and Apple Music® are provided to optimize connectivity in the new Cayenne. A 10.9-inch display is now available for the first time on the passenger side.

    This enriches the front passenger’s driving experience by displaying performance data, providing separate access to the infotainment system controls, and, depending on the market, offering the option of streaming video content on the road. A special foil ensures that the driver cannot see this display.

    Refined design, innovative lighting technology

    The new Cayenne now has a particularly expressive appearance. A new front end combined with more strongly arched wings, a new bonnet, and technically appealing headlights emphasize the vehicle’s width.

    Three-dimensionally designed taillights, uncluttered surfaces beneath, and a new rear apron with an integrated number plate holder characterize the rear-end design of the new Cayenne.

    An expanded color palette with three new colors, lightweight sports packages saving up to 33 kilograms for the Cayenne Coupé, and a new extensive range of 20, 21, and 22-inch wheels make it possible to configure the new Cayenne individually and dynamically.

    Matrix LED headlights are now standard in the new Cayenne. HD matrix LED headlights are a new optional feature.

    With two high-definition modules and more than 32,000 pixels per headlamp, their innovative technology picks out other users and blocks out the light of the high beam for them with pixel accuracy so as not to dazzle them.

    The brightness of the modules can be regulated in more than 1,000 steps, depending on the driving situation. Customized light modes increase safety and comfort in different driving situations.

    Porsche has also introduced an air quality system in the new Cayenne.

    As standard, the vehicle uses predictive navigation data to detect approaching tunnel entrances and automatically activate air recirculation.

    Optionally, a sensor detects the level of fine dust particles in the air and passes them through the fine dust filter multiple times if necessary. Furthermore, an ionizer removes many germs and pollutants from the air, which is particularly beneficial for allergy sufferers.

    In addition, customers can use a comprehensive range of new and optimized assistance systems. These include the active speed limiter and the swerve assist, the cornering assist, and the improved Porsche InnoDrive as part of the adaptive cruise control.

    This means that the new Cayenne is even better at helping its driver in dangerous situations as well as in traffic jams on motorways and main roads.

    Increased range between ride comfort and performance

    Porsche now equips the Cayenne at the factory with a steel spring suspension, including Porsche Active Suspension Management.

    New shock absorbers with 2-valve technology and thus separate rebound and compression stages allow optimized performance in all driving situations.

    Comfort at slow speeds, handling during dynamic cornering, and pitch and roll support have been noticeably improved.

    The driving experience can be additionally enhanced with the new adaptive air suspension with 2-chamber, 2-valve technology. This improves the driving experience with a soft suspension characteristic, stabilizes the vehicle, and simplifies on-road and off-road handling compared to both the standard suspension and the predecessor model.

    At the same time, the adaptive air suspension improves driving precision and performance and reduces body movements in dynamic driving situations. The suspension also offers an even sharper differentiation between Normal, Sport, and Sport Plus driving modes.

    The all-rounder: More power and sportier

    In Vietnam, the new Cayenne debuts with three different versions.

    An extensive refinement of the four-liter V8 biturbo engine developed by Porsche replaces the previous V6 engine in the new Cayenne S.

    With a maximum output of 349 KW (474 PS) and a torque of 600 Nm, 25 kW (34 PS) and 50 Nm more than its predecessor, it accelerates both the SUV and the SUV Coupé to 100 km/h in 4.7 seconds.

    The top speed is 273 km/h. The entry into the world of the Cayenne comes with an optimized three-liter V6 turbo engine. It now generates 260 kW (353 PS) and 500 Nm, which is 10 kW (13 PS) and 50 Nm more than before.

    The Turbo GT, designed for maximum on-road performance, is still the top model in the Cayenne range in most Porsche markets.

    It is available exclusively as a coupé and benefits from all the optimizations and innovations of the model series. In addition, the output of the four-liter V8 biturbo engine of the Turbo GT has been increased by 14 kW (19 PS) to 485 kW (659 PS).

    The Cayenne Turbo GT accelerates from zero to 100 km/h in 3.3 seconds, with a top speed of 305 km/h. The all-new Cayenne models are available to order now from Porsche Vietnam.

    The price of all 5 versions of Cayenne is VND5.56-14.36 billion. All prices are estimated and include import tax, SCT, VAT, and local service packages.

    Porsche in Vietnam continues to grow with Porsche Centre Saigon in HCMC, Porsche Centre Hanoi, and Porsche Studio in Hanoi.

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  • Fruit, vegetable exports historical high

    Fruit, vegetable exports historical high

    Fruit and vegetable exports in the first three quarters are worth an estimated US$4.1 billion, 24% more than in full-year 2022, Vinafruit said, citing customs data.

    Vinafruit, or the Vietnam Fruits and Vegetable Association, said durian, banana and dragon fruit were the main contributors to the increase, with durian in the lead after climbing into the billion-dollar export club.

    China has been by far the biggest importer, buying $2.3 billion worth of fruits and vegetables from Vietnam in the first eight months of the year, a 134% increase year-on-year and accounting for a 64% share.

    The next three biggest importers have been the U.S. ($168 million, 6% down in the same period), South Korea ($148 million, up 18%), and Japan ($123 million, up 6%).

    Durian exports increased 20-fold this year. Unlike the Thai and Philippine varieties, Vietnamese durian can be harvested even in the so-called off-season, and their exports fetch higher prices as a result.

    China also bought bananas and jackfruit from Vietnam at higher prices and is considering buying fresh coconuts through official quotas.

    The U.S. recently allowed imports husked coconut from Vietnam.

    According to the Ministry of Agriculture and Rural Development, Vietnam plans to both export more items and to more markets, including passion fruit to the U.S. and Australia; grapefruit to Japan, Korea, Australia, and India; durian to India; and citrus fruits, coconut and durian to China.

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  • Techcombank chairman’s daughter buys 82 mln TCB shares

    Techcombank chairman’s daughter buys 82 mln TCB shares

    Ho Thuy Anh, daughter of Techcombank (TCB) chairman Ho Hung Anh, has bought 82 million TCB shares worth at least US$110.1 million.
    The transaction, completed between Sept. 5-8, will increase her stakes in Vietnam’s largest private bank from 0.64% to 2.97%.

    As of the end of June, the chairman Hung Anh held 39.3 million TCB shares, or 1.1% stake in the lender. His family currently holds 621 million TCB shares, a 17.7% stake.

    In the four-day period Sep5-8, a total of 83.3 million TCB shares changed hands in put-through transactions at two trading sessions on Sept. 5 and Sept. 8.

    Specifically, the Sept. 5 session saw 37.5 million TCB shares worth VND1.2 trillion (US$50.8 million) traded, and the Sept. 8 session saw 45.8 million shares change hands worth a total VND1.53 trillion.

    Currently, the market price of TCB shares has been fluctuating around VND35,000 per share, 27% higher than the beginning of this year.

    The bank’s profit was VND11.3 trillion in the first half of this year, a year-on-year decline of 20%, mainly due to difficulties accessing corporate bonds and real projects’ struggles attaining credit.

    After being the second-biggest profit maker among commercial banks in Vietnam for years, Techcombank fell to fifth place in profit rankings in the first six months of this year.

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  • Vietjet partners 2023 Sydney Marathon

    Vietjet partners 2023 Sydney Marathon

    Vietjet has become the air transport partner for the Sydney Marathon, and is offering free tickets to the event.

    The Sydney Marathon takes place from September 14 to 17 in the Australian city, and will feature many activities for athletes, locals and tourists.

    The runners will pass through famous landmarks like Milsons Point, the Sydney Harbor Bridge, Centennial Park, the Royal Botanic Gardens, the Sydney Opera House…

    The race is expected to attract more than 40,000 runners from more than 75 countries.

    It will also raise funds for charities supporting children and people with disabilities.

    To mark the occasion, Vietjet is selling tickets for zero dong (excluding taxes and fees) to Australia on Wednesday, Thursday and Friday every week from now until March 31, 2024, on its website and app.

    According to the airline, besides the 2023 Sydney Marathon, it is also collaborating with other global cultural and sporting events, demonstrating its desire to bring new values by spreading the message of humanity and sporting spirit to hundreds of millions of customers and people in Vietnam and elsewhere.

    With an extensive flight network and flexible flight times, Vietjet offers many options to international passengers with its new routes from HCMC to Jakarta (Indonesia), Kochi and Tiruchirappalli (India), and other destinations and leading entertainment destinations in the region in Australia, Japan, Korea, Taiwan (China), Hong Kong (China), Singapore, Thailand…

    Flight tickets come with Sky Care travel insurance. All flights are supported by experienced crew and fresh, hot food.

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  • Vietnam Electricity and the conundrum of establishing a competitive market

    Vietnam Electricity and the conundrum of establishing a competitive market

    Vietnam has been making policy changes to open up the electricity industry to private investors, but still remains far from creating a competitive market.

    Until 2006 state-owned Vietnam Electricity (EVN) owned all power plants in the country, but its monopoly has been reducing since, and it now only accounts directly or indirectly for around 37.6% of the country’s installed capacity of 80,000 megawatts.

    This means it has to pay for the remaining 62% of power supplied, mainly to gas and oil giant Petrovietnam, coal mining company Vinacomin and a number of private companies.

    The dilution of EVN’s ownership came about as private companies began to invest large amounts in power generation, especially in the last five years thanks to the boom in renewable energy.

    Private players now own 42% of installed capacity.

    But EVN retains a monopoly in electricity transmission, and owns and operates all transmission lines and substations.

    Though changes in the laws last year allow private companies to invest in transmission, so far only one company has done so, connecting its solar plant with the national grid.

    Analysts say land acquisition problems, low profit margins and red tape deter private companies from entering the transmission business.

    “The monopoly in transmission is a natural monopoly of the state” and not of EVN, Nguyen Minh Duc, a member of the Vietnam Federation of Commerce and Industry’s legal department, said.

    The government needs to retain a monopoly over transmission to ensure national energy security and prevent private companies from taking over and raising prices, he said.

    Evidently, EVN is also the sole buyer of electricity from private power plants.

    This means that the state, not EVN, actually has a monopoly in selling and transmitting electricity, Tran Van Binh of the School of Economics and Management at the Hanoi University of Science and Technology said.

    This explains why EVN has to suffer losses: Retail prices are not determined by it but by the government.

    Last year, the Ministry of Industry and Trade reviewed EVN’s operations and found that the cost of electricity production had actually by increased more than 9% since 2021, but the government eventually approved a retail price hike of only 3%, leaving EVN selling power at a loss of VND112 per kilowatt-hour.

    The government has been making policy changes for over 10 years now to create a competitive energy market, but has yet to complete the task.

    EVN remains the only buyer of electricity.

    This means that when suppliers increase prices due to higher costs, EVN will have to absorb them since it does not have the authority to increase retail tariffs.

    In the event, last year it reported a loss of VND26 trillion.

    Nguyen Dinh Cung, former head of the Central Institute for Economic Management, said production costs are set to increase considerably in the coming years, and if the same model remains in place EVN would continue to make big losses.

    If EVN is not financially healthy, it will not be able to invest in new power plants or ensure transmission stability.

    At US$0.08 per kilowatt-hour, Vietnam’s electricity prices are lower than those of several other countries in the region like Indonesia, Thailand, the Philippines, and Singapore, according to Global Petrol Prices.

    Yet the public often criticizes authorities when prices are raised, Cung said.

    Bui Xuan Hoi, principal of the Northern Electricity College, said Vietnam could “not dream” of having a competitive electricity market if the government keeps making the final call on retail prices.

    Binh of the Hanoi University of Science and Technology said: “In many countries, retail prices go up when a competitive electricity market is established. The same thing will definitely happen to Vietnam.”

    The cost of producing electricity is rising as fossil fuels like coal, oil and gas are running out while hydropower generation has reached maximum capacity.

    Duc said another downside to a competitive market is that underdeveloped areas, such as mountainous regions, would not attract private companies who prefer investing in big cities with high profits.

    This means the government will still need to intervene directly or indirectly to provide electricity to such places.

  • Vietnam Airlines to buy 50 Boeing 737 Max jets

    Vietnam Airlines to buy 50 Boeing 737 Max jets

    Vietnam Airlines is set to sign a US$10-billion deal with U.S. aviation giant Boeing to buy 50 737 Max narrow-body aircraft.

    The signing is set for Monday during U.S. President Joe Biden’s state visit to Vietnam, an anonymous source told VnExpress.

    The deal is part of Vietnam Airlines’ plan to renew its fleet, in which many aircraft are over 10 years old.

    Four years ago the state-owned carrier received approval from the Civil Aviation Authority of Vietnam to buy 50 narrow-body aircraft from Boeing or its European competitor, Airbus.

    Vietnam Airlines and other carriers in the country do not currently use any Boeing narrow-body aircraft.

    Vietnam Airlines’ 90-jet fleet is made up of the narrow-body Airbus A321 and wide-body Boeing 783 Dreamliner.

    The Boeing 737 Max can carry between 210 and 230 passengers and has a range of around 3,000 kilometers.

    Budget airline Vietjet signed a deal with Boeing in 2016 to buy 100 737 Max aircraft during former U.S. President Barrack Obama’s visit.

    It then signed a similar deal in 2018.

    Industry insiders say buying new jets is not easy now since Boeing and Airbus have full orders booked for until 2030.

  • myOKIES: QR menu for order and pay

    myOKIES: QR menu for order and pay

    myOKIES has launched a digital contactless service for Vietnamese businesses, enabling customers to order and pay for purchases directly from their cell phones using a QR code.

    Customers can scan the code using their smartphone camera, which will take them to the myOKIES page where they can select their items and pay using a variety of payment methods, including 21 different e-wallets, all types of debits, credit cards, and cash.

    myOKIES has 136 languages available for customers, enabling businesses to expand their international customer base easily and effectively.

    The benefits of the myOKIES service extend beyond convenience, as it eliminates the need for customers to physically touch a menu or paper receipt, thereby reducing the risk of transmission of viruses and other germs, protecting the environment with a paperless focus, and enabling sustainability for businesses.

    Moreover, customers can use the myOKIES platform to reserve tables and appointments and purchase products in-store and online by accessing the myOKIES website or the myOKIES app.

    myOKIES is also known for its simple yet elegant design, which is reflected in its mobile application and website. The platform’s design is consistent with myOKIES’ overall brand identity, which emphasizes simplicity, efficiency, elegance, and ease of use.

    Its QR code ordering and payment feature also offer a unique lifestyle experience for the young generation, who are always on the lookout for new ways to enhance their daily lifestyle.

    Jalen Phung, CEO of myOKIES Vietnam, understands the importance of serving the younger generation’s lifestyle preferences. “We recognize that the younger generation is looking for new and innovative ways to enhance their daily activities, and we are excited to offer them a solution that is both convenient and visually appealing.”

    myOKIES service is not limited to just the food industry and can be utilized by any business from mid- to high-end that wants to provide their customers with a secure and convenient way to make purchases, including retail businesses and other service businesses like spas, coffee shops, business lounges, furniture stores, and in-room dining for 5-star hotels and resorts, which are myOKIES target business partners.

    myOKIES QR code for ordering and payment service is an outstanding example of how technology can enhance the customer experience and help businesses grow in the most efficient way. With its easy-to-use platform and seamless features, it’s a service that is sure to continue gaining popularity among businesses and customers alike.

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  • Vietnam tuna exports to S Korea soar

    Vietnam tuna exports to S Korea soar

    According to the Vietnam Association of Seafood Exporters and Producers, tuna exports to South Korea rose by 2.5 times year-on-year to over US$7 million in the first seven months.

    Tuna Vietnam, Nha Trang Bay and Phat Trien Seafood were the three biggest exporters, accounting for 64% of total shipments.

    Exports of canned tuna jumped by 468%.

    VASEP said declining fishing catches in South Korea and rising demand for canned products amid tightened spending drove up demand for Vietnamese products.

    Vietnam was the eight biggest exporter of tuna to that country in the first half this year, but the largest seller of canned tuna, accounting for nearly 77% of all imports.

  • Vietnam’s export sees marginal impacts from China’s Japanese seafood ban

    Vietnam’s export sees marginal impacts from China’s Japanese seafood ban

    China’s ban on Japanese seafood due to fear of radioactive contamination has Vietnamese firms seeing opportunities to ship more products, but the gain has been marginal as Chinese demand drops.

    On August 24, China imposed a total ban on Japanese seafood products after the latter started discharging its treated radioactive water from the wrecked Fukushima nuclear power plant into its seawater.

    Hong Kong and Macau have also announced their own ban, which covers Japanese seafood imports from 10 regions.
    The CEO of a Vietnamese seafood exporter from Nha Trang in the central region said that the ban might help increase the export of some products, such as tuna.

    “We have seen Chinese buyers increasing their orders for tuna by 15% year-on-year. But demand for shrimp and octopus are still 20% lower year-on-year.”

    Some other industry insiders have also said that the ban might offer opportunities for Vietnamese seafood, but only slightly, as Japan is only a small seafood exporter to China.

    Japan accounted around 3% of China’s seafood imports last year, against Ecuador’s 18.6%, Russia 14.4%, and Vietnam’s 8.8%.
    Pangasius, one of Vietnam’s main seafood exports, has not seen any notable increase in China shipments amid low demand, according to a report by SSI Research.

    “Pangasius exports to China rose slightly last week but was not significant and irrelevant to the ban,” the report said.
    The Vietnamese seafood industry has been facing a tough year as demand from major markets such as the U.S., the E.U. and China all plunged amid rising inflation and economic challenges.

    Exports of pangasius to China dropped 32% year-on-year to $325 million, and shrimp fell 9% to $338 million, according to Vietnam Association of Seafood Exporters and Producers (VASEP).

    VASEP general secretary Truong Dinh Hoe said that Vietnamese exporters will not benefit significantly from the ban.

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