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Entrepreneur aims to make Vietnamese agriculture innovative

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During his years studying in Japan, Pham Thanh Toan thought a lot about how to use technological innovations to make Vietnamese farmers’ jobs easier.

When he returned to Vietnam, Toan, 33, founded MiSmart Smart Technology JSC with the aim of applying automatic technologies and artificial intelligence (AI) to agricultural production, which is challenging for a young entrepreneur like him compared to others.

Overcoming numerous obstacles

MiSmart uses autonomous devices and AI technologies that use Big Data to supply digital solutions to agriculture such as irrigation and remote monitoring systems.

According to Toan, who earned a master’s degree in artificial intelligence in Japan, MiSmart has developed and produced unmanned aerial vehicles (UAVs) at a lower cost that helps farmers spend less on technology while improving their crop yields. The company develops both the hardware and software for the UAVs.

The entrepreneur has dreamed of building such devices ever since he studied in Japan a few years ago. “When I was studying abroad, I read the news on the Internet about the tricky situation of farmers who had to sell their agricultural products at a much lower price every time they had good crops,” Toan recalled.

“I want to turn this sadness into actions that can make a difference,” he continued, explaining the reasons behind his decision to focus on applying innovative technology solutions to agriculture in Vietnam.

The entrepreneur believes he is fortunate to have been able to study in Japan, a country known for its prominent level of science and technology. The years of studying here have given him a lot of useful knowledge, including existing technological solutions that can be learned.

As a case in point, Toan is interested in the way the Japanese use autonomous drones to spray pesticides in agriculture to increase efficiency by more than 50 times compared to traditional methods. In addition, such drones help reduce pesticides and protect farmers’ health while helping increase production.

With these thoughts in mind, Toan met an old friend, a PhD student studying in Australia, and shared the idea with him during a Lunar New Year vacation. The two decided to find answers to the problems of Vietnamese agriculture at all costs.

In their research, they encountered many obstacles, in particular, they could not buy some parts or equipment they needed for their projects. While such equipment is not made domestically, they also cannot order it from abroad if the number of purchased parts is too small.

They overcame these challenges by making many things themselves. Their first prototype UAV, including Demeter VS20, was unveiled in 2020. Despite its lightweight, the Demeter VS20 can lift heavy objects and operate autonomously, semi-autonomously or manually. The device folds neatly and resists dirt.

In terms of efficiency, the Demeter VS20 can increase a farmer’s labor productivity by over 25 times compared to traditional methods. It can also help farmers improve pesticide spraying efficiency by more than 20 times, in addition to saving 30 percent of the amount of pesticide and 90 percent of the water used.

Thanks to these remarkable features, the drone enables farmers to quickly control a plant disease even in a large area. This brings further benefits to the growers in terms of production and exports.

Eventually, the device can be an alternative when there is a shortage of labor, which is quite common nowadays.

Once a poor student

Few people know that Toan had an extremely difficult youth. “In 2006, I was able to enter college with a fairly good grade, which was enough for me to study in a special class for gifted students at the Faculty of Information Technology of the University of Science under the Vietnam National University-Ho Chi Minh City,” Toan recalled. “At that time, it was very difficult for my family to fund my study because of the excessive cost of living in Ho Chi Minh City.”

Fortunately, Toan said, he learned from a Tuoi Tre (Youth) reporter who lives next door that the newspaper had been giving scholarships to help poor students with good academic records.

“The memory of the touching feeling of receiving the scholarship of VND3 million [US$131] is still fresh in my mind,” Toan recalled.

“I was able to cycle from the newspaper’s headquarters to my dormitory in Thu Duc City [a dozen kilometers away] tirelessly that day.”

Besides drones for agriculture, MiSmart also focuses on the development and mass production of surveillance drones used for fire prevention, emergency rescue, natural disaster management, natural resource protection, and more.

Since MiSmart has its own technology that can churn out batteries at a much lower price, the company plans to lease its batteries in the future.

The firm’s recent achievements include working with the Department of Plant Protection under the Ministry of Agriculture and Rural Development and the Ministry of Information and Communications to develop an app that addresses plant diseases.

“The app has been approved by the Ministry of Information and Communications as an app to be used under the strategy of digital transformation of the agricultural sector in 2022,” Toan said.

MiSmart has won many awards since its launch in 2019, including the excellence prize at Ho Chi Minh City Artificial Intelligence 2020 and the first prize at Viet Solutions 2020 — a digital transformation competition in Vietnam.

In 2021, MiSmart was one of five startups that won prizes at the ‘AI Accelerator Challenge 2021,’ a contest to support Vietnam’s economic recovery from the COVID -19 pandemic and drive the development of a vibrant AI startup environment.

In addition, the company has commanded the attention of some large hedge funds and is enabling mass production by selling hundreds of products to other entrepreneurs.

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Source: https://tuoitrenews.vn/news/business/20220414/young-entrepreneur-aims-to-make-vietnamese-agriculture-innovative/66590.html

Business

Vietnam Q1 rice exports at 1.79 mln T, up 19.3% year-on-year

Revenue from rice exports in the period is seen up 30.2% at $952 million.

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Vietnam’s rice exports in the January-March period are estimated to have risen about 19.3% from a year earlier to 1.79 million tonnes, government data showed on Wednesday.

Revenue from rice exports in the period is seen up 30.2% at $952 million.

March rice exports from Vietnam, one of the world’s leading shippers of the grain, likely totalled 900,000 tonnes, worth $480 million.

Source: Reuters

Source: https://e.nhipcaudautu.vn/economy/vietnam-q1-rice-exports-at-179-mln-t-up-193-year-on-year-3351586/

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NovaGroup to sell stake in property subsidiary Novaland

NovaGroup wants to sell a 2% stake in Novaland, and if the transaction goes through, chairman Bui Thanh Nhon and his family will become minority shareholders.

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In a notice sent to the Ho Chi Minh City Stock Exchange on Monday, NovaGroup said it would sell 38 million shares between March 30 and April 28 to balance its investment portfolio and restructure debts.

The announcement comes amid a sharp rise in the price of NovaGroup shares thanks to the deferral of its bond redemption, approval for capital hike and the nomination of two new directors. Novaland shares closed Monday at the ceiling price of VND12,700 ($0.54) and there were no sellers, a fourth straight day of gains.

At this price, the transaction is expected to fetch Nova nearly VND500 billion ($21.3 million).

But it will reduce NovaGroup’s stake to 27.43%. Nhon’s family, including himself, his wife, two children and two related companies, will see their holdings fall to 50.72%.

Novaland’s charter makes 51% the controlling stake.

NovaGroup, formerly known as Thanh Nhon Trading Co., Ltd., was founded by Nhon in 1992.

It underwent several rounds of restructuring. In 2007 two companies, Novaland Group in real estate and Anova Group in livestock and animal feed, were established.

In 2020 NovaGroup restructured for a second time and added three more corporations: Novaland, Nova Service (services) and Nova Consumer (consumer goods). A year later it set up five more companies, with Novaland remaining the main one.

The last time NovaGroup sold shares in Novaland was in November 2022 when it registered to sell 150 million shares but only managed to sell 98 million.

Novaland is Vietnam’s second largest listed property developer, according to Reuters.

It reported revenues of VND11.15 trillion and after-tax profits of VND2.29 trillion last year, 25% and 34% down from 2021.

It has capital of VND257 trillion, 82.6% of it from debt.

Source: VnExpress

Source: https://e.nhipcaudautu.vn/companies/novagroup-to-sell-stake-in-property-subsidiary-novaland-3351561/

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Vietnam calls for U.S. support in digital transformation

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The Vietnamese Ministry of Information and Communications, at a working session on Wednesday with the U.S.-ASEAN Business Council (USABC) and representatives from many U.S. enterprises, called on U.S enterprises to support Vietnamese enterprises, especially SMEs, in digital transformation.

Following a working session with Vietnamese Prime Minister Pham Minh Chinh, the USABC and U.S. enterprises, who are in Vietnam to seek cooperation, investment, and business opportunities, held a meeting with the Vietnamese Ministry of Information and Communications.

A view of the working session between Vietnamese Prime Minister Pham Minh Chinh and the U.S.-ASEAN Business Council. Photo: Duong Giang / Tuoi Tre
A view of the working session between Vietnamese Prime Minister Pham Minh Chinh and the U.S.-ASEAN Business Council. Photo: Duong Giang / Tuoi Tre

USABC President and CEO Ted Osius took time from the meeting to share his appreciation for the potential of Vietnam’s digital economy.

According to Osius, U.S. enterprises are paying attention to the Southeast Asian country’s policies aimed at boosting the digital economy, digital infrastructure development, and metaverse and digital asset management regulations.

They are also keen on the country’s priorities and targets for 2023 – the year of digital data, as well as how U.S. firms can join hands to help Vietnam achieve these targets, Osius added.

A representative of the Vietnamese Ministry of Information and Communications said Vietnam expects to conduct the digital transformation with three pillars—digital government, digital economy, and digital society.

The ministry admitted that Vietnam needs a new legal framework appropriate to the development of it’s digital economy, in which U.S. firms can make contributions.

Lessons from successful digital transformation in other countries may not be successfully applied in Vietnam, so domestic firms can help localize solutions developed by U.S. enterprises.

U.S. ambassador to Vietnam Marc Knapper (L) and USABC President and CEO Ted Osius at the working session with Vietnamese Prime Minister Pham Minh Chinh. Photo: Duong Giang / Tuoi Tre
U.S. ambassador to Vietnam Marc Knapper (L) and USABC President and CEO Ted Osius at the working session with Vietnamese Prime Minister Pham Minh Chinh. Photo: Duong Giang / Tuoi Tre

At the working session with the USABC and representatives of Meta, Roblox, SpaceX, FedEx, UPS, Amazon Web Services, Boeing, and Apple, PM Chinh thanked them for accompanying Vietnam on it’s digital transformation journey and wished all enterprises success in working with Vietnam.

“Your success is also our success,” PM Chinh stressed.

He affirmed that the Vietnamese government is always willing to listen to U.S. firms’ opinions and proposals.

Vietnam will continue to create favorable conditions for U.S. enterprises to expand their investment in Vietnam and pave the way for Vietnamese companies to take part in their value chains.

The prime minister also discussed Vietnam’s development pillars, breakthrough strategies, and viewpoint on the foreign-invested sector.

In addition, he introduced specific sectors in Vietnam in which the USABC and U.S enterprises are interested, such as digital economy, creative industries, healthcare, energy, agriculture, and aviation.

He affirmed that Vietnam is willing to import machines, equipment, tools, and spare parts from the U.S. to balance Vietnam-U.S. trade.

Meta has high hopes for Vietnam

On Wednesday, Rafael Rrankel, Director of Public Policy for South and Southeast Asia at Meta, met with representatives from Vietnamese press agencies, including Tuoi Tre (Youth) newspaper.

At the meeting, Rrankel said Vietnam has a high number of Facebook users and the number is on the rise. In addition, many Vietnamese companies use Facebook’s Business Messaging service to manage parts of their operations.

Director of Public Policy for South and Southeast Asia at Meta Group Rafael Rrankel. Photo: Nguyen Khanh / Tuoi Tre
Director of Public Policy for South and Southeast Asia at Meta Group Rafael Rrankel. Photo: Nguyen Khanh / Tuoi Tre

“It can be said that you are a leading market of Facebook in the world in using the service,” Rrankel affirmed.

The Meta representative shared his appreciation for the Vietnamese government’s long-term vision and investment in telecom infrastructure.

The Vietnamese government has issued policies to support digital economy development, and considers the digital economy and support enterprises’ digital transformation as top priorities, Rrankel said.

Rrankel emphasized that “these help leading technology enterprises of the U.S., including Meta, see the bright outlook of Vietnam.”

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

The Vietnamese Ministry of Information and Communications, at a working session on Wednesday with the U.S.-ASEAN Business Council (USABC) and representatives from many U.S. enterprises, called on U.S enterprises to support Vietnamese enterprises, especially SMEs, in digital transformation.

Following a working session with Vietnamese Prime Minister Pham Minh Chinh, the USABC and U.S. enterprises, who are in Vietnam to seek cooperation, investment, and business opportunities, held a meeting with the Vietnamese Ministry of Information and Communications.

A view of the working session between Vietnamese Prime Minister Pham Minh Chinh and the U.S.-ASEAN Business Council. Photo: Duong Giang / Tuoi Tre
A view of the working session between Vietnamese Prime Minister Pham Minh Chinh and the U.S.-ASEAN Business Council. Photo: Duong Giang / Tuoi Tre

USABC President and CEO Ted Osius took time from the meeting to share his appreciation for the potential of Vietnam’s digital economy.

According to Osius, U.S. enterprises are paying attention to the Southeast Asian country’s policies aimed at boosting the digital economy, digital infrastructure development, and metaverse and digital asset management regulations.

They are also keen on the country’s priorities and targets for 2023 – the year of digital data, as well as how U.S. firms can join hands to help Vietnam achieve these targets, Osius added.

A representative of the Vietnamese Ministry of Information and Communications said Vietnam expects to conduct the digital transformation with three pillars—digital government, digital economy, and digital society.

The ministry admitted that Vietnam needs a new legal framework appropriate to the development of it’s digital economy, in which U.S. firms can make contributions.

Lessons from successful digital transformation in other countries may not be successfully applied in Vietnam, so domestic firms can help localize solutions developed by U.S. enterprises.

U.S. ambassador to Vietnam Marc Knapper (L) and USABC President and CEO Ted Osius at the working session with Vietnamese Prime Minister Pham Minh Chinh. Photo: Duong Giang / Tuoi Tre
U.S. ambassador to Vietnam Marc Knapper (L) and USABC President and CEO Ted Osius at the working session with Vietnamese Prime Minister Pham Minh Chinh. Photo: Duong Giang / Tuoi Tre

At the working session with the USABC and representatives of Meta, Roblox, SpaceX, FedEx, UPS, Amazon Web Services, Boeing, and Apple, PM Chinh thanked them for accompanying Vietnam on it’s digital transformation journey and wished all enterprises success in working with Vietnam.

“Your success is also our success,” PM Chinh stressed.

He affirmed that the Vietnamese government is always willing to listen to U.S. firms’ opinions and proposals.

Vietnam will continue to create favorable conditions for U.S. enterprises to expand their investment in Vietnam and pave the way for Vietnamese companies to take part in their value chains.

The prime minister also discussed Vietnam’s development pillars, breakthrough strategies, and viewpoint on the foreign-invested sector.

In addition, he introduced specific sectors in Vietnam in which the USABC and U.S enterprises are interested, such as digital economy, creative industries, healthcare, energy, agriculture, and aviation.

He affirmed that Vietnam is willing to import machines, equipment, tools, and spare parts from the U.S. to balance Vietnam-U.S. trade.

Meta has high hopes for Vietnam

On Wednesday, Rafael Rrankel, Director of Public Policy for South and Southeast Asia at Meta, met with representatives from Vietnamese press agencies, including Tuoi Tre (Youth) newspaper.

At the meeting, Rrankel said Vietnam has a high number of Facebook users and the number is on the rise. In addition, many Vietnamese companies use Facebook’s Business Messaging service to manage parts of their operations.

Director of Public Policy for South and Southeast Asia at Meta Group Rafael Rrankel. Photo: Nguyen Khanh / Tuoi Tre
Director of Public Policy for South and Southeast Asia at Meta Group Rafael Rrankel. Photo: Nguyen Khanh / Tuoi Tre

“It can be said that you are a leading market of Facebook in the world in using the service,” Rrankel affirmed.

The Meta representative shared his appreciation for the Vietnamese government’s long-term vision and investment in telecom infrastructure.

The Vietnamese government has issued policies to support digital economy development, and considers the digital economy and support enterprises’ digital transformation as top priorities, Rrankel said.

Rrankel emphasized that “these help leading technology enterprises of the U.S., including Meta, see the bright outlook of Vietnam.”

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230324/vietnam-calls-for-us-support-in-digital-transformation/72241.html

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