Singapore News Gazette

Da Nang: The international terminal of Da Nang Airport, based in the central city of Da Nang, is set to become a smart terminal under a partnership between the Da Nang International Terminal Investment and Operation JSC (AHT) and FPT Software. The partnership, announced on April 22, aims to promote digital transformation in the short term and comprehensive modernisation in the long term. It looks to develop the first smart airport terminal in Vietnam to minimise the time needed for handling procedures and improve passengers' experience. At the event, AHT and FPT Software, an affiliate of tech giant FPT group, signed documents for implementing the project in the second quarter of 2024 and complete it this October. Accordingly, AI-powered cameras will be installed at aviation procedure handling zones to assess density to help operators quickly detect hot spots and take effective solutions. More mobile apps will be launched to provide smart support solutions such as notifying the departure status and finding current locations on the map. A new website will be built to ensure the best possible convenience for users when searching for multilingual information. More touch-screen systems will also be placed across the terminal for passengers to search for information and give assessments, helping the terminal make improvements. AHT Deputy General Director Do Trong Hau said that it is not the technologies chosen that decide the success of digital transformation projects but how to use them. Therefore, instead of using available solutions in the market, the terminal decided to partner with FPT Software to develop solutions tailored to its demand. He noted the cooperation between AHT and FPT Software will open up many chances for diversifying aviation services, thus minimising the procedure handling time, improving passengers' experience, and contributing to tourism development of Da Nang city. The Da Nang international terminal was rated five stars by international airport rating agency Skytrax in January. It recei ved the certificate at the Skytrax World Airport Awards 2024 ceremony in Germany on April 17. In 2022 and 2023, the terminal was equipped with autogates, automatic boarding gates, and self-check-in kiosks. Particularly, it is the first airport terminal in Vietnam to have a self-service bag drop system, applied by Starlux Airlines. As a result, all aviation procedures at this terminal are now handled automatically./. Source: Vietnam News Agency

Hanoi: Minister of Planning and Investment Nguyen Chi Dung on April 22 had a working session with a delegation from the US chip giant NVIDIA led by Vice President Keith Strier. At the meeting, Minister Dung briefed the guests about Vietnam's development strategy for the semiconductor and AI industry, the project on human resources development for the semiconductor industry, the business and investment environment in Vietnam, as well as the country's incentives and mechanisms to support high-tech, semiconductor and AI projects in Vietnam. After the meeting, the NVIDIA delegation visited the National Innovation Centre at Hoa Lac Hi-Tech Park (NIC Hoa Lac). The delegation is scheduled to work with relevant ministries, agencies, localities and businesses in Vietnam. In December last year, NVIDIA President and CEO Jensen Huang had a working visit to Vietnam. At a roundtable discussion on the semiconductor industry and AI development trends and opportunities for Vietnam, he spoke highly of Vietnam's potential an d opportunities to branch out its semiconductor and AI industries, especially the country's human resources in the fields. Vietnam is prepared for the AI development wave, and it is time for both sides to set up strategic relations in the fields, he said, adding NVIDIA will expand its existing partnership with Vietnam, making the country its second home. According to Huang, it is necessary for the country to encourage new generations to engage in AI as well as improve the skills of its human resources, and develop 1 million AI experts./. Source: Vietnam News Agency

Hanoi: Economic outlook, demographic transformation and changing consumer trends are among macro shifts reshaping Vietnam's fast-moving consumer goods (FMCG) landscape, according to marketing data and analytics company Kantar Worldpanel. In its recent report on the Vietnam FMCG market outlook 2024, Kantar has a positive outlook for Vietnam's economy, saying that despite obstacles and short-term headwinds, the long-term economic trajectory remains robust. Nevertheless, rising costs have had and will continue to have an impact on shoppers' budget management strategy. Value remains a key driver, with consumers making conscious choices about where to allocate their budgets. 'While rising prices and economic uncertainty may present a picture of tightened belts across the board, the consumer landscape is nuanced. 'Essential categories remain at the forefront of budgets, discretionary spending may see cuts, particularly in categories like eating out and entertainment.' However, consumers have not entirely shut down their wallets, according to the report. They are still willing to "splurge," but their spending is driven by value. Added values in health, experiences and convenience may prompt them to seek out products that justify their worth. This presents a unique opportunity for FMCG brands to navigate challenging times and position themselves for growth. The key lies in understanding how different consumer segments are adapting their behaviour and adopting strategies that cater to these shifts. In addition, rising prices have led to a slowdown in in-home FMCG volume growth, even as average spending continues to rise. This raises the question: Is this increase driven solely by inflation, or are consumers changing their shopping baskets? Understanding the answer is crucial for developing effective marketing strategies. Even in difficult times some brands thrive while others find growth elusive. While competitive pricing coupled with strategic promotions is a must, success in securing consumers' share of wallet hinges on brands' ability to seize the opportunities to offer consumers smarter solutions and value-driven choices. As for the impact of changing demographics on the FMCG market, the report says Vi?t Nam's demographic structure is painting a new picture. The once "golden population" is maturing, with an aging, urbanising population and smaller household sizes emerging. This shift holds significant potential for FMCG businesses as demand for diverse products surges across different age clusters. Rising household incomes and decreasing household sizes, however, indicate a demand for evolving value proposition, where affordability might not be the sole driver. Kantar suggested strategies for FMCG brands and manufacturers such as decoding drivers of changes in consumers' shopping behaviour, mastering the multi-channel landscape, building a winning portfolio with consumer-centric innovation, and maximising promotions by focusing on quality over quantity. Its data reveals that over half of FMCG brands struggle d to keep pace with the competition in 2023, particularly within growing categories where approximately one-third of brands began to lag. As competition intensifies in 2024, this highlights the urgent need for brands to identify their unique growth drivers to stay ahead of competition. The FMCG retail landscape in Vietnam is shifting to more convenient and modern formats but not all modern trade channels can win, according to the company. To succeed, brands need to understand the reason behind a shopper's visit to each channel and adapt their approach accordingly. With respect to building a winning portfolio with consumer-centric innovation, different strategies are required for different categories, depending on size, growth and competition landscape. For FMCG manufacturers with a vast portfolio, identifying key categories to prioritise investments is crucial. There are opportunities for rising FMCG categories as well as mature categories. Finally, promotions are one of the most effective ways to driv e immediate volume sales uplift though not all have the same impact. By understanding the true effectiveness of different promotion types on brand growth, brands can harness the power of promotions to not only drive impact on revenue but also build brand loyalty./. Source: Vietnam News Agency

Hanoi: The prices of Vietnamese paddy and rice continued to increase last week, according to the the Vietnam Food Association (VFA). Specifically, the average paddy price at fields rose by 214 VND to 8,000 VND (0.31 USD) per kilo, with the highest reported at 8,050 VND. The average price for paddy at warehouses expanded by 183 VND to 9,475 VND per kilo, the highest recorded at 9,650 VND. Meanwhile, 5% broken rice was priced up to 14,200 VND per kilo; 15% broken rice, 13,950 VND; and 25% broken rice, 13,750 VND. Premium white rice saw an increase of 35 VND per kilo to 14,010 VND. For export, the price of 5% broken rice was 582 USD per tonne, higher than 579 USD of Thailand, and 581 USD of Pakistan. Vietnam's 25% broken rice was sold at 557 USD per tonne, as compared to 530 USD of Thai rice./. Source: Vietnam News Agency

Lang Son: Prime Minister Pham Minh Chinh on April 21 visited the Huu Nghi International Border Gate and inspected some socio-economic development projects in Lang Son as part of his ongoing visit to the northern province. At the international border gate, Chinh emphasised its important role in promoting the friendship and economic ties between Vietnam and China, between China and ASEAN, as well as between Lang Son and Guangxi provinces. Chinh requested agencies and forces there to closely coordinate with each other to complete their tasks, contributing to consolidating and strengthening the relationship between Vietnam and China, concretising and implementing the "Joint statement on further deepening and elevating the comprehensive strategic cooperative partnership between the two countries and building a Vietnam-China community with a shared future that carries strategic significance' reached by the two countries' senior leaders. They were also asked to maintain national defence and security, and firmly p rotect national independence and sovereignty. The same day, Chinh inspected a project on upgrading National Highway 4B's section that runs through Lang Son province. The 62km road is expected to be completed this year, with a total cost of nearly 2.3 trillion VND (90.4 USD). Presenting gifts to workers at the construction site, PM Chinh said the national highway is important in connecting and boosting economic ties between Vietnam and China, between Lang Son and neighbouring Cao Bang and Quang Ninh provinces, as it connects six international border gates with seaports. He asked local authorities and relevant agencies to ensure resettlement for people who had to move to make room for the road construction and support them to stablise their lives soon. When staying in Lang Son, PM Chinh also visited the 193-ha Mailand Hoang Dong-Lang Son Urban Area - a complex of international trade, entertainment, tourism, and golf course in the centre of Lang Son city. On this occasion, the Government leader visited the Victoria Mailand Hoang Dong International Bilingual Kindergarten, which is part of the Victoria School system - the bilingual multi-level school that meets Cambridge standards and follows the happy school model with the companionship of UNESCO. On the same day, the PM attended the opening ceremony of the International Green Industry Expo 2024 - the first of its kind held in Lang Son province, attracting more than 188 domestic and foreign businesses. The exhibition displays products and technological equipment in the fields of electricity production, electronics and green energy, solar power, wind power, large-tonnage automobiles, household appliances, lighting equipment, smart home devices, and agricultural products of Lang Son and neighbouring provinces./. Source: Vietnam News Agency

Hanoi: Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore. Vietnam was followed by Thailand with an export value of 33.63 million SGD, while India came third with 33.16 million SGD. The decline in export value of regular brown rice and white rice was offset by the strong increase of sticky rice, milled or peeled fragrant rice and broken rice with turnovers of 3.79 million SGD, 18.06 million SGD and 575,000 SGD, respectively. Particularly, besides Vietnam's traditional strong product of white rice, the turnovers of two other product groups - sticky rice and milled or peeled fragrant rice - also rose to dominate the majority of the market share in Singapore, reaching 80.08% and 73.33% respectively. This was the m ain factor that helps Vietnam surpass Thailand and India to become the country with the largest rice market share in Singapore, the office asserted. According to the office, Thailand, India, and Japan have been major competitors of Vietnam in Singapore. India's ban of rice export from July 20, 2023, has created good conditions for Vietnam to increase market share in Singapore. However, the office advised Vietnamese rice exporters to continue improving their competitiveness and enhancing the quality of rice. The office will organise more exhibitions to increase the presence of Vietnamese rice in this potential market. The office cited data from the Accounting and Corporate Regulatory Authority (ACRA) of Singapore as showing that Singapore imported nearly 112.9 million SGD worth of rice in the first three months of this year, up 23.86% year on year. In order to increase market share and sustainably maintain its top position, according to the office, all ministries, sectors, localities, associations, and bu sinesses should join hands together in strengthening promotion of Vietnamese rice products and trademarks. Alongside, the signing of a memorandum of understanding in rice trading between Vietnam and Singapore will also be an effective tool for Vietnam to maintain its position of No.1 rice supplier in Singapore, it added./. Source: Vietnam News Agency

Rome: Ambassador to Italy Duong Hai Hung has congratulated Vietnamese enterprises - the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) and the Handicraft and Wood Industry Association of HCM City (HAWA) - for their initial success in showcasing Vietnamese products in Milan Design Week in Italy - a design and brand arena of furniture businesses around the world. While visiting the Vietnam pavilion at the event on April 18, the diplomat encouraged enterprises to focus on enhancing their competitiveness through good cooperation with design buyers in Italy and Europe, thus penetrating deeper into the European market, as well as other markets. The Vietnamese wood industry needs substantial and systematic investment to enter and dominate higher market segments, he stressed. The pavilion opens to visitors from April 16 - 21. Covering a total area of 360 sq.m, it is showcasing outstanding furniture and handicraft products from 35 Vietnamese enterprises. Vietnam is renowned for its export of furni ture, ranking sixth in the world. The debut at the Milan Design Week is a significant affirmation of the creative values of Vietnamese furniture and handicraft industry on the international stage, demonstrating its strength and potential for strong development./. Source: Vietnam News Agency

Moscow: The Vietnamese Embassy in Russia organised a seminar on April 19 on prospects for Vietnam-Russia digital economic cooperation, attracting over 100 delegates representing ministries, sectors, research institutes, and business associations of the two countries. The function focused on opportunities and solutions to further promote cooperation between the two nations in this promising field. In recent years, Vietnam's digital economy has experienced remarkable development. According to the Ministry of Information and Communications, the proportion of the digital economy in Vietnam's GDP reached 16.5% in 2023, with an average annual growth rate of 20%, which is three times the GDP growth rate. According to assessments from international organisations, the scale of Vietnam's Internet economy in 2023 reached approximately 30 billion USD, up 19% compared to the figure in 2022. Vietnamese digital technology companies have also been gradually strengthening their international cooperation efforts. Last year, Vietnam had over 1,500 digital technology enterprises with revenue from foreign markets totaling an estimated 7.5 billion USD, up 4% year-on-year. Meanwhile, the strongest growth in Russia's Internet economy is observed in the e-commerce sector, with total revenue reaching 15.4 trillion rubles (over 164 billion USD) in 2023. Russia also leads in the field of smart cities and e-government, with cities like Moscow and St. Petersburg being at the forefront of IT application worldwide. Delegates said that the current context presents tremendous opportunities for cooperation between the two countries in general and between their respective businesses in particular. Several digital economic cooperation projects are already underway between Vietnam and Russia, particularly in such areas as cybersecurity, smart cities, digital banking, and digital business solutions. In addition to the aforementioned projects, participants also highlighted numerous other promising areas for digital economic cooperation, such as fi nance, health care, agriculture, transportation, energy, environment, and manufacturing. They put forward recommendations and solutions to further expand cooperation in the digital economy sector from the perspectives of policymakers, researchers, and businesses, including intensifying the trade promotion in information technology products of the two countries, and boosting collaboration in researching and developing digital platforms and products. Ambassador Dang Minh Khoi emphasised the significance of the event, saying Russia's experiences in developing its digital ruble is highly beneficial, expressing Vietnam's interest in participating in the testing process of Russia's digital ruble by the Central Bank of Russia. Delegates agreed that if utilised effectively, this could be a significant driver for economic cooperation between the two countries in the coming time./. Source: Vietnam News Agency