Illustrative image. Photo: VNA

Vietnam reports 1,047 new Covid-19 cases on June 1

Vietnam confirmed 1,047 new infections of Covid-19 on June 1, an increase of 37 compared to the previous day.

So far the country has had a total of 10,720,426 Covid-19 patients, ranking 12th out of 227 countries and territories worldwide.

The new cases were reported in 40 out of 63 provinces and cities across the country. Of them, 871 infections were detected in the community.

The capital city of Hanoi again led the country with 245 new transmissions, cited VNA.

It was followed by northern Yen Bai and Vinh Phuc provinces, with 67 and 61 cases, respectively.

The country today declared 9,542 patients recovered from the disease. A total of 9,471,840 people have been given the all-clear to date.

More than 221.3 million doses of Covid-19 vaccines have been administered nationwide, including more than 4.4 million to children between 5 and under 12 years old.

Vietnam successfully produces vaccine against African swine fever

Vietnam has successfully produced a vaccine against African swine fever (ASF), said Deputy Minister of Agriculture and Rural Development Phung Duc Tien on June 1.

The ministry will officially announce this achievement, and grant a circulation permit for the vaccine on June 3, stated Tien.

The vaccine has the trade name of NAVET-ASFVAC produced by NAVETCO National Veterinary Joint Stock Company, with the expected price at VND34,000 – VND36,000 (US$1.47 – US$1.55) per dose.

NAVET-ASFVAC experimental vaccine.

According to him, although more than 4,000 studies related to the virus and vaccine development by scientists have been published, there has been no commercial vaccine against the disease in the world so far, according to VOV.

To date, no country in the world has announced successful production of a commercial vaccine against disease. Therefore, the potential for exporting the vaccine produced in Vietnam is huge, he added.

ASF is a highly contagious viral disease of domestic and wild pigs, whose mortality rate can reach 100%. Not a danger to human health, yet it has devastating effects on pig populations and the farming economy.

Petrol prices up over 900 VND per liter

The retail prices of oil and petrol continued to rise from June 1 following the latest adjustment by the Ministry of Industry and Trade and Ministry of Finance.

Photo: Thanh Dat

Accordingly, from 3pm, the price of RON95 bio-fuel was raised by 921 VND per liter to 31,578 VND (US$1.36) per liter, while that of E5 RON92 rose by 602 VND per liter to 30,235 VND (US$1.30) per liter, reported VNA.

Meanwhile, the price of diesel oil was up by 841 VND per liter to 26,394 VND (US$1.14) per liter. An increase of 9410 VND per liter was also seen in the price of kerosene to 25,346 VND (US$1.09).

Since the beginning of this year, the retail prices of petrol have been adjusted up ten times and down for only three times.

Vietnam emerges as magnet for start-up investment

The nation is rapidly emerging as a regional magnet for attracting investment in start-ups, with this being driven by a convergence of a young consumer and workforce base, as well as increasing demands for digital technology moving into the post-pandemic period.

According to details given by Vu Quoc Huy, director of the National Innovation Centre (NIC), the nation enjoyed robust development in terms of start-up firms last year and was on track to become the next main growth driver in Southeast Asia and play a vital role in the wider region’s start-up golden triangle.

He cited statistics which highlight investment into start-ups hitting a record high of US$1.4 billion last year, despite the impact of the Covid-19 and strict social distancing measures put in place, duly breaking the previous record of US$874 million set in 2019.

Photo: VOV

The number of new businesses set up during the initial four months of the year increased by 12.3% over the same period last year, which combined with positive growth momentum in foreign investment inflow, clearly demonstrates the country’s large potential for the development of the start-up ecosystem, he said.

He therefore anticipates that investment in start-ups will double over the next three years, cited VOV.

Boasting a crowd of young consumers and a workforce that has a high demand for digital technology moving into the post-pandemic period, the country’s start-up market is predicted to take off over the next few years. In line with this, the nation boasts many demographic advantages, with roughly 70% of the national population is below 35, whilst the literacy rate of 95.4% is among the highest in Asia.

Domestic consumption is anticipated to grow at an annual rate of 20%, which would make the country a vital driver of Asia’s consumer market over the next decade. The middle-class population is also growing at the fastest pace in Southeast Asia, accounting for approximately 40% of people today, up from just 10% in 2020. By 2030, the middle-class population is expected to make up 75%.

There has also been a noticeable increase in digital consumers, with more than eight million being added from the beginning of the pandemic to the first half of 2021, with 55% coming from non-urban areas.

Moreover, the Vietnamese Internet economy was estimated to be at US$21 billion in 2021, up by 31%, with this largely being driven by the e-commerce market, which grew by 53%. Indeed, Internet economy is forecast to hit US$57 billion with a compound annual growth rate of 29%.

Kim Ngoc Thanh Nga, head of the NIC’s Ecosystem Development Department, said that the country would develop at an unprecedented rate over the next decade. This will primarily be fueled by high Internet penetration, a huge domestic market, and innovative ideas, which can be expanded abroad through the presence of funds to promote start-up development.

On May 30, venture fund Golden Gate Ventures (GGV) and NIC signed a co-operation agreement aimed at strengthening the long-term relationship that exists between the two sides and provide support to the development of the local start-up community and innovation ecosystem.

Accordingly, GGV will seek to increase its investment in the Vietnamese market, promote exchanges, encourage new ideas and innovations, and act as a catalyst to promote the position of Vietnamese start-ups in the region.

GGV has since announced the opening of two new offices in Hanoi and Ho Chi Minh City, as well as its offices in Singapore and Indonesia, affirming that these three countries form a Southeast Asia start-up golden triangle.

Golden Gate Ventures is a venture capital firm investing across Southeast Asia. Since 2011, the firm has launched various funds and invested in more than 60 firms.

All Vietnamese contestants secure prizes at 2022 Asian Physics Olympiad

All eight Vietnamese students participating in the 2022 Asian Physics Olympiad (APhO) have won prizes, bringing home one silver, two bronze medals and five certificates of merit, according to the Ministry of Education and Training.

12th-grader Le Minh Hoang from the Hanoi University of Science (HUS)’s High School for Gifted Students earned the silver medal. Also from the school, 10th-grader Vo Hoang Hai and 11th-grader Vu Ngo Hoang Duong, secured the bronze medals, while 11th-grader Nguyen Tuan Minh and 12th-grader Cao Van Dong each received a certificate of merit.

The remaining three certificates went to students from high schools for the gifted in the northern provinces of Vinh Phuc and Bac Ninh, and the south-central province of Phu Yen, NDO reported.

The Vietnamese team participating in the 2022 Asian Physics Olympiad. Photo: NDO

Hosted by India, the online competition lasted from May 23 to 31 and drew 28 contingents with 218 contestants.

Concluding their participation, the Vietnamese team ranked 8th after those from China, Russia, Australia, Taiwan (China), Kazakhstan, India, and Thailand.

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