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Visitors inquire about Vietnam's organic tea. (Photo: VNA)
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The exhibitors at the fair have been showcasing ideas and innovations relating to organic products such as fresh, frozen and dried products as well as organic beverages with certified quality, according to the Vietnam News Agency.
Products showcased at the Vietnamese pavilions included pepper, cashew nuts, cinnamon, herbs, coconut oil, coffee, and chilli that have been certified as meeting international organic standards.
Vietnamese Consul General in Frankfurt/Main Le Quang Long hoped that Vietnamese businesses would further study technical standards, especially in terms of branding, so that Vietnamese organic products can better penetrate the German and European markets. He also pledged to assist Vietnamese enterprises in connecting with partners in the country.
Tran Ngoc Thanh, Vice Chairman of the Vietnam Organic Agriculture Association (VOAA), said Vietnam’s organic agricultural production is developing strongly with export turnover reaching 335 million USD a year. The European market is the biggest importer of Vietnamese organic products.
This is the sixth consecutive year Vietnamese enterprises have attended the annual fair, which offered an opportunity for enterprises to exchange views on business opportunities, seek partners and expand markets.
Vietnam an attractive spot for startups: Bloomberg
Bloomberg on February 14 published an article “Silicon Valley talent is helping grow Vietnam’s startup hub”, quoting founders’ opinion that an abundance of inexpensive engineers coupled with a fast-growing economy makes Vietnam an attractive spot for startups, reported by the Vietnam News Agency.
The article cites a report published in July 2022 by KPMG International Ltd and HSBC Holdings Plc which states that the number of startups in the country nearly doubled from the beginning of the COVID-19 pandemic to mid-2022.
Some of the world’s largest investors including Sequoia Capital, Warburg Pincus LLC, and Alibaba Group Holding Ltd are backing startups offering promising solutions.
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Vietnam an attractive spot for startups - Photo for illustration (Source: mic.gov.vn)
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According to data from Google, Temasek Holdings Pte., and Bain & Co, in 2021, Vietnam drew a record 2.6 billion USD through 233 private deals, up from 700 million USD via 140 deals of the previous year.
According to investment firm Do Ventures, local startups are also competing against businesses from throughout Southeast Asia. Investment in startups in Vietnam accounts for 13% of the total venture funding flows into the region after Indonesia and Singapore in 2021.
Bloomberg’s article also mentions the Vietnamese Government aims to turn Ho Chi Minh City into a magnet for tech funding and is striving to grow its digital economy which is expected to represent 40% of the southern city’s gross domestic product.
The city’s authorities thus prioritise attracting foreign investment to high-tech projects, while also offering other incentives to lure global talent and international firms to establish innovation research centres.
Experts said that Ho Chi Minh City has factors to make it the next Silicon Valley including a heavy math and science educational system, a decades-old software outsourcing industry that’s created an abundance of inexpensive and talented engineers, and the benefits of Vietnam’s 2021 economic growth - one of the fastest across Asia.
Vietnam becomes favourite destination for RoK, Japanese and China’s Taiwanese tourists
Destinations in Asia, including Vietnam, are always on the favourite list of visitors from the Republic of Korea (RoK), Japan and Taiwan (China). Specifically, before the COVID-19 pandemic, Vietnam ranked second in the top destinations for RoK tourists, just behind Japan, said the Nhan Dan newspaper.
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Nha Trang is one of the favourite destinations for RoK tourists (Photo: NDO)
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The information was mentioned in a report on international tourism trends of the RoK, Japan and Taiwan (China) conducted by The Outbox Company, a tourism market research company. The report, published on February 14, provided data and information on the behaviour and psychology of tourists from three aforementioned markets when travelling abroad.
According to The Outbox Company, the RoK, Japan and Taiwan (China) are three of the markets with large numbers of visitors to Vietnam that saw continuous increases in the 2015-2019 period.
The RoK, Japan and Taiwan (China) are among the top markets with the highest number of tourists travelling abroad. The RoK sees the largest number of visitors travelling abroad, followed by Japan and Taiwan (China).
More than 28.7 million RoK people travelled abroad in 2019, 4.3 million of which chose to visit Vietnam. Before the pandemic, the S-shaped country ranked second in the top destinations for RoK tourists in 2019, just behind Japan. This is thanks to the expansion of flight routes, favourable geographical distance, and suitable travel costs.
Another common feature of the three markets is the high level of outbound tourism spending with an average increase of about 7% per year.
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Hoi An ancient town (Photo: VOV)
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While the RoK tourists are very focused on staying, Japanese tourists want to have moments and experiences worth their spending and Taiwanese tourists are especially interested in means of transport.
The Outbox Company also pointed out that tourists from these three markets have a relatively low level of awareness about the image of Vietnam. This suggests they do not really understand and have a strong impression of Vietnam.
Therefore, The Outbox Company hopes that the report can help businesses and destinations in Vietnam come up with new approaches to attract RoK, Japanese and Taiwanese tourists.
Star anise exports to China expand by over 65%
Vietnam exported 3,513 tonnes of star anise to the Chinese market last year, representing a rise of 65.6% compared to 2021’s figures, Radio the Voice of Vietnam quoted the information of the Vietnam Pepper Association.
Although star anise exports to India, a major market for the fruit, decreased sharply by 30.8% compared to 2021, the country’s export volume of star anise decreased by only 12.2% in total, while export turnover surged by 36.7% to US$72.9 million.
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Star anise exports to China expand by over 65% (Photo: VOV)
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Currently, India remains the main consumer of Vietnamese star anise, accounting for 41.3% of the total volume, followed by China.
Furthermore, the United States and the Netherlands also represent major export markets of Vietnamese star anise with 846 tonnes and 673 tonnes, respectively.
At present, there are several markets that have great demand for importing star anise, including India, Singapore, Bangladesh, the Middle East, China, Japan, the Republic of Korea, Taiwan (China), the US, and the EU. These countries have imported star anise mainly for use as a spice to cook dishes./.