In the next three years, Alibaba.com will complete the establishment of specialized teams to operate in Vietnam’s emerging manufacturing hubs, including Binh Duong, Bac Ninh, Long An, Da Nang and Hai Phong, in addition to the teams already operating in Hanoi and Ho Chi Minh City, Roger Luo, director of Alibaba in Asia-Pacific, announced recently in Ho Chi Minh City.

Roger Luo (left), director of Alibaba in Asia-Pacific.

"Vietnam is a very important part of our e-commerce development map," Luo said, pointing out three advantages of this market.

First, Vietnam has favorable foreign trade policies with many free trade agreements being signs. "Compared to China, Vietnamese-made goods have an advantage. Moreover, the U.S.-China trade war has big influence on Chinese goods, while Vietnamese goods are not affected," he said.

Second, labor costs are still low. Third, there are many Vietnamese specialty products.

"Vietnamese suppliers on our platform are gradually building a reputation with a large number of global buyers, especially in such areas as agricultural products, food, fashion and home garden products," he said.

The number of Vietnamese sellers on Alibaba’s e-commerce platform has increased to thousands.

The number of Vietnamese products available on this platform in March surged by 24% against the same period last year.

In the first half of this year, Vietnam’s export turnovers stood at US$164 billion, down 12% against the same period last year.

The situation would be better in the second half of the year because inventory in the U.S. is decreasing.

"Small and medium-sized businesses need to quickly seize this opportunity by reviving their human resources and strengthening their digital capabilities," he recommended.

Vietnam, US beef up cooperation in innovation, investment, hi-tech

Minister of Planning and Investment Nguyen Chi Dung on July 14 met with representatives of the US government agencies, organisations, businesses, investment funds and large corporations to promote cooperation in innovation and technology; research, exchange experiences and attract resources to building an international financial centre; and promote and attract investment to high-tech projects in Vietnam.

Intel to pour more investment in Vietnam

Intel Corporation will continue to invest in Vietnam, Kim Huat Ooi, Vice President in Manufacturing, Supply Chain and Operations, and General Manager of Intel Products Vietnam told.

Quang Ninh’s six-month domestic investment reaches yearly target

The northern province of Quang Ninh attracted more than 44 trillion VND (1.85 billion USD) of domestic investment capital in the first six months of this year, equivalent to 102.4% of the target set for the entire 2023 and up 29.8% over the same period last year.

Enterprises need more investment to master technology

The policy of the Party and State is to accelerate the transformation of the growth model based on the application of science, technology and innovation, to improve the productivity, quality and competitiveness of the economy. Many enterprises identify innovation as the driving force and the optimal solution, to enhance competitiveness in the context of increasingly extensive and comprehensive international economic integration.

New golf course and urban area in Nham Bien Mountain approved investment policy

(BGO)- The provincial People’s Committee of Bac Giang province has issued the Decision on approving the investment policy of the golf course and urban residential area project in Nham Bien Mountain, Dong Son commune, Bac Giang city and Tien Phong commune, Yen Dung district.

Source: VnExpress