Vietnam news in brief - February 13

Transport Ministry backs European sleeper trains to run in Vietnam

The Ministry of Transport welcomes European hotel and sleeper train operator Belmond, a global luxury goods conglomerate Moët Hennessy Louis Vuitton member, to run 10 sleeper trains connecting Hanoi and Ho Chi Minh City. The ministry appreciates the effort made by the company to increase its presence in Vietnam, and promises to provide utmost support for Belmond on the project.

In November 2023, French Ambassador to Vietnam Olivier Broche revealed that Louis Vuitton plans to operate 10 30-year-old sleeper trains in Vietnam. According to Lonely Planet, the Hanoi-Ho Chi Minh City train route is the most scenic in the world.

Saltwater encroaches deep into Tien Giang Province

My Tho streets flooded with sea water. Photo: dantri.com.vn

Saltwater penetrates at least 50 kilometers into the land of Tien Giang Province, according to local authorities. The salinity measured at Lac Hong park in the province’s My Tho City, 50km from Tien Giang’s coast, was two grams per liter. High salinity was caused by strong tides, which flooded My Tho City on February 11-12.

To protect the land, local authorities have shut down all irrigation gates in My Tho City, and Cho Gao, Go Cong Tay and Go Cong Dong districts. Fresh water is also gathered from the underground to add into local farming fields.

WinCommerce targets nearly US$1.4 billion in revenue in 2024

According to the newly released financial report by Masan, WinCommerce (WCM), the operator of the WinMart/WinMart+/WIN chain, has set a target to achieve a net revenue of VND32.5 - VND34 trillion ($1.3-1.4 billion) in 2024, up 8 - 13% compared to the same period. This growth is driven by faster like-for-like (LFL) growth, network expansion, and positive results from new stores.

Masan believes that the consumer market in Vietnam will experience slight growth in the first half of 2024 and recover rapidly in the second half.

South Korean fashion brand expands operations in Vietnam

Nerdy, a South Korean streetwear brand operated by APR, the global beauty-tech company, announced on February 11 its plans to expand in the Vietnamese market, including the opening of additional store this year.

APR began its expansion into Vietnam through a partnership with Myson Retail Management International (MRMI), a leading fashion distributor in South Korea, since January 2023. APR currently operates four offline stores, including two in Ho Chi Minh City and two in Hanoi.

Enhancing cooperation between Vietnam and Belgium

Vietnamese Ambassador to Belgium Nguyen Van Thao expects further development in the relationship between Vietnam and Belgium, especially with the upcoming visit of the King and Queen of Belgium in October as a reaffirmation of the cooperative relationship between the two countries.

The Ambassador emphasized this on February 11 (or the 2nd day of Tet) at the "Love Spring" program, which brought together the Vietnamese community in Belgium, and highlighted the relationship between Vietnam and Belgium, particularly in the context of celebrating the 50th anniversary of diplomatic relations in 2023.