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Vietnam news in brief - June 11
Check out the latest events in Vietnam for today.

Vietnamese spend up to US$19.6 monthly on e-commerce

 An online shopper in Hanoi. Photo: Pham Hung/The Hanoi Times

According to the "Vietnam E-commerce Trends 2024" report by Q&Me, Vietnamese consumers typically spend between VND300,000 (US$11.8) and VND500,000 (US$19.6) per month on online shopping platforms. The majority of responding participants (32%) shop on e-commerce platforms a few times per week. This survey was conducted over the past 12 months (from May 2023 to April 2024).

Canada seeks investment in five priority sectors in Vietnam

Canada sees Vietnam as a promising investment destination, particularly in five priority areas: healthcare, technology, aviation, energy transition, and agriculture/food processing. This information was shared at a recent business dialogue event in Toronto. Canadian firms currently investing in Vietnam have considered Vietnam a promising and safe market for investment and business operations.

In the first five months of this year, Canada has invested in ten new projects and 13 M&A activities in the Vietnamese market.

Tay Ho to have another housing project in 2024

Hanoi has added a new housing and land development project of over four hectares to the land use plan for Tay Ho District in 2024, according to the latest decision by the Hanoi People's Committee. The project involves building infrastructure for a residential area and land plots in Phu Thuong Ward. The project is scheduled for implementation in 2024.

Top 10 reputable commercial banks in 2024 emerged

 Vietcombank head office in Hanoi. Photo: The Hanoi Times

Vietnam Report joint stock company on June 10 announced the list of top 10 reputable commercial banks for 2024. The honorees include Vietcombank, Techcombank, Vietinbank, BIDV, MBBank, ACB, Agribank, VPBank, HDBank, and TPBank. The ranking is based on a variety of factors, such as financial capacity, media reputation and survey results from relevant stakeholders.

An award ceremony is slated for August 2024.

iPhone sales on TikTok quadrupled in May

The total value of iPhone transactions on TikTok platform in May increased four-fold compared to April, reaching VND84.8 billion (US$3.3 million), according to e-commerce market data platform Metric. The surge in online sales could negatively impact Apple's brand and reduce its offline sales.

As a result, the US tech giant has requested that its retail partners stop selling through this particular e-commerce platform. The top three leading retail stores in iPhone sales on this e-commerce channel included FPT Shop, Viettel Store, and Di Dong Viet, together accounting for 86.7% of the iPhone market share.

Hue International Arts Festival Week 2024 on the way

The Hue International Arts Festival Week 2024, themed “Cultural Heritage with Integration and Development”, takes place from June 7 to June 12, gathering nearly 30 domestic and international art troupes from France, Belgium, Spain, Canada, Japan, China, the Republic of Korea and Vietnam.

The program includes many unique art activities such as Trinh Cong Son music program (June 9), Art programs performed by domestic and foreign art troupes (from June 8 to June 11), Vietnamese rice noodle journey (from June 8 to June 10) and closing art program (June 12).

 Lantern festival during the Hue Festival 2024 features the performance of more than 30,000 lanterns. Photo: VNTravel

Business matching session scheduled for tomorrow

Seven Korean companies will have a meeting with Vietnamese importers tomorrow (June 12) to introduce high-tech products to the domestic market. At the meeting, Korean firms will present their products in the fields of cosmetics, supplementary nutrition, healthcare, and the environment.

The meeting is hosted by the Korea Trade-Investment Promotion Agency (KOTRA). In 2024, KOTRA has recently hosted a B2B meeting between Vietnamese companies and Korean counterparts from the Gyeongbuk and Chungbuk provinces.

Vietnamese food products introduced at world’s largest expos

Last week, the Vietnam Trade Office in India participated in a showcase of a wide range of processed food products at two food expos, namely the 15th Foodworld India 2024 and the 16th Annapoorna Inter Food 2024 expos. The Vietnamese exports were well-received and highly-valued by visitors.

As two of the world’s largest food expos, the Foodworld India 2024 and the Annapoorna Inter Food 2024 attracted more than 1,100 companies and some 10,000 visitors.

Experts discuss soft substances, fluids, interfaces in Quy Nhon

A seminar on soft substances, fluids, and interfaces is underway in Quy Nhon, the capital city of the central coastal province of Binh Dinh, from June 10 to June 14. It gathers 80 scientists and specialists from Vietnam and all over the world. This is an opportunity for Vietnamese experts to share their ideas and practices with international colleagues.

Jan-Jun seafood exports estimated at US$4.4 billion

The Vietnam Association of Seafood Exporters and Producers (VASEP) estimated that seafood export turnover in the first two quarters of 2024 will reach US$4.4 billion, up 6% over the same period in 2023. In the top four leading markets, seafood exports to the US market in the first five months rose 7% on year, while the figures for China, Japan, and the EU remained unchanged.

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