Vietnamplus

Digital transformation is both a must and an opportunity for the Vietnam News Agency (VNA) to make changes, Vu Viet Trang, VNA General Director, said on June 16.

Among efforts to diversify markets for local farm produce, the northern mountainous province of Lai Chau is working to boost the export of tea products to the Middle East, North Africa, and South Asia.

Banks have been promoting a target of diversifying income sources to reduce dependence on credit.

The central province of Quang Tri is striving to attract investment in the field of renewable energy, especially wind power, to turn the locality into an energy hub by 2030.

Vietnam is now in need of diversifying energy supply sources as it is facing a shortage of coal supply for electricity, cement, and fertiliser production due to impacts of the COVID-19 pandemic and the Russia - Ukraine conflict.

As vegetarians make up a large proportion of Indian population and people in the country consume imported dragon fruit at weddings, it is a huge potential market for Vietnam’s dragon fruit, according to trade counsellor Bui Trung Thuong.

The tourism sectors of southern provinces and cities are exerting efforts to reform and diversify products to attract visitors while ensuring safety in the ‘new normal’, as the 2022 New Year and traditional Tet (Lunar New Year) holidays approach.

The Canada – ASEAN Initiatives Association at the York Centre for Asian Research held a seminar entitled “Canada and ASEAN: Trade Diversification in the Indo-Pacific” in Ontario, Canada on November 26.

Vietnam will continue to seek vaccine sources to diversify the supplies, spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang has said.

The Ministry of Foreign Affairs' spokeswoman Le Thi Thu Hang has said that Vietnam has been focusing on negotiations to seek supplies of COVID-19 vaccines.

Participants at a May 7 workshop in Hanoi recommended that Vietnamese businesses diversify capital sources funding their activities in the new context instead of being over-reliant on the banking system.

Vietnam continues seeking and diversifying its COVID-19 vaccine sources by working with nations such as the US, India and China, Foreign Ministry spokeswoman Le Thi Thu Hang said at a regular press conference held on March 25.

Vietnam is a perfect economic partner for Australia, said a joint report by Asia Society Australia and the Australian APEC Study Centre at RMIT University.

Commercial banks should diversify their loan products, lower interest rates and simplify procedures to improve accessibility to official credit channels in an effort to keep people away from illegal sources, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said.

Despite having great potential, Vietnamese rice-based products remain rudimentary and unpolished, severely hampering their ability to compete on the global market, according to industry experts.

The Ministry of Industry and Trade (MoIT) plans to consolidate traditional markets in rural areas while developing a large number of convenience stores and diversifying types and methods of modern business.

Resorts along the coastline of the Da Nang central province are now under pressure when resume operation after a period of suspension due to the COVID-19 crisis since their main customers are from foreign countries. However, positive signals have been seen in the inbound segment with increasing number of domestic customers.

Diversifying products and adapting quickly to market fluctuations will help create growth momentum and remove difficulties for seafood exports, experts have said.

Vietnamese firms need to diversify their overseas markets and improve their strengths to capitalise on opportunities after the COVID-19 pandemic ends, a recent online seminar heard in Ho Chi Minh City.

The US-ASEAN Business Council will help Cambodia in managing its tourism sector, diversifying and developing tourism products through investment projects.