Vietnam emerges as Singapore’s largest rice export partner

Saturday, 20/04/2024 14:23
Vietnam was Singapore’s largest rice export partner during the first quarter of the year, accounting for 32.03% of the island state’s overall market share, reported the Voice of Vietnam according to statistics from the Vietnamese Trade Office in Singapore.
Source: VNA

Elsewhere, India and Thailand ranked second and third with their market shares in Singapore standing at 6.96% and 8.28% respectively.

Statistics compiled by Singaporean agencies also indicate that Vietnamese rice exports to the this market throughout the reviewed period grew well, with turnover reaching over US$26.5 million, up 80.46% compared to the same period last year.

Most notably, apart from advantageous Vietnamese products such as white rice, other product categories such as sticky rice and milled fragrant rice have also risen to dominate the majority of the market share of 80.08% and 73.33% in the Singaporean market, respectively.

As a result, Vietnam outperformed other exporters such as Thailand and India to become Singapore’s largest rice supplier.

India recently prohibited export of non-basmati white rice starting from July 20, which has further opened up opportunities for Vietnamese businesses to increase its export to Singapore.

Industry insiders point out that Vietnamese businesses are required to continue to improve their competitiveness whilst ensuring the quality of rice products to make further inroads into the market.

The signing a Memorandum of Understanding (MoU) for rice cooperation between Vietnam and Singapore is anticipated to become an effective tool for maintaining the leading position of Vietnamese rice products in the Singapore market, they say.

Vietnam wins one gold in 2024 Asian Canoe Sprint Championships

Vietnamese canoeist Diep Thi Huong on April 19 brought home a gold medal at the 2024 Asian Canoe Sprint Championships which is currently taking place in Japan, according to the Voice of Vietnam.

In the women’s C1 500 m category, the 23-year-old athlete finished first after clocking a time of two minutes and 18 seconds, ahead of her rivals from Kazakhstan and India.

Earlier, canoeists Nguyen Thi Huong and Nguyen Hong Thai took home a silver medal in women’s C2 500 m category.

So far, the Vietnamese team are placed in third position in the medal table with one gold and one silver.

Canoeist Diep Thi Huong (Photo: VNA)

At present, Kazakhstan lead the medal table after pocketing five golds. They are followed by the Republic of Korea and Vietnam with one gold each.

The 19th Asian Canoe Sprint Championships started in Tokyo on April 18 and is scheduled to last through to April 21. It also serves as the continental qualification for the 2024 Summer Olympics which will be held in Paris this summer.

Japan's Takashimaya eyes new shopping hub in Vietnam by 2026

Takashimaya, the Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi as soon as 2026, reported the Voice of Vietnam according to information from Japanese media outlet Nikkei Asia.

This will be the company's first new location abroad in eight years, reported the newswire.

Nikkey Asia quoted Yoshio Murata, president of Takashimaya, saying subsidiary Toshin Development has started work on a mixed-use complex in Hanoi, that along with a department store will include space for housing, offices, and commercial lease.

Takashimaya is expected to invest an estimated US$12.9 million in opening the department store, with project set to be the first Japanese department store chain to establish a physical presence in Hanoi.

The new complex will feature a department store boasting about 10,000 square metres of sales space, along with a range of specialty stores. Takashimaya is also considering bringing in Japanese tenants to sell items such as food, cosmetics, and children's clothing.

Hanoi will be the second Vietnamese city to host a Takashimaya retail centre. The complex that opened in Ho Chi Minh City in 2016 has roughly 150 specialty shops along with a department store.

It is also Takashimaya's first overseas location since its Bangkok store opened in 2018, and its fifth department store in Southeast Asia and China combined. The firm also intends to expand the Ho Chi Minh City location in the future.

At present, Vietnam is viewed as Takashimaya's biggest growth market due to the country’s rapidly expanding middle and upper classes, although it faces heavy competition there.

In addition to local players, Lotte Group of the Republic of Korea has opened a mall and a department store in Hanoi, whilst Japan's Aeon Mall also has a presence in the Vietnamese capital.

At present, Takashimaya has invested in the construction and operation of a school in co-operation with a Vietnamese partner, whilst it is looking to invest more capital in joint real estate development projects in the country.

The Japanese company aims for Vietnamese operations to double the sum of operating profit and dividend income to US$28.5 million by the fiscal year ending February, 2027.

Hanoi’s virtual monthly passes help commuters travel with ease

Hanoi’s virtual monthly passes for public transport have been on offer for almost one month now, making travel more convenient for the city's commuters, Vietnam News Agency reported according to information from the Hanoi Public Transport Management Centre.

Illustrative image (Photo: VNA)

The application, named ‘The Ve Giao Thong Ha Noi’ (Public Transport Tickets in Hanoi), covers all travel in Hanoi. It can be downloaded and installed via Play Store (Android) or App Store (iOS).

Once registered, users can see their virtual bus passes fully displaying their personal image and information, ticket code, expiry date just like the hard version of a ticket.

With a valid account, public transport passengers can manage multiple e-tickets at the same time. An e-ticket is applicable right after a successful registration instead of having to wait for 3-4 days like its hard version.

People can also renew their e-tickets online and pay their fare via a linked bank account on their smart phones.

Dao Viet Long, Deputy Director of the municipal Department of Transport, said that the virtual monthly passes not only mark a change in technical innovation, but also are a leap forward in providing convenient, safe and effective services for people and passengers.

The department is directing units to increasingly improve services towards convenience and modernity, and apply advanced technology in management to improve service quality and reduce urban traffic congestion./.

Compiled by BTA