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% CONTENTS | ISSUE 331, June 2022 Congratulations on Denmark Constitution Day

COVER STORY

E-commerce counts among the few sectors to have
benefited from the ravages of Covid-19, as movement
restrictions shepherded people online and away from
bricks-and-mortar shopping for both needs and wants.
After finding some favor pre-pandemic, growth in
e-commerce over the last two years has been nothing
short of phenomenal and augers well for the future.
The accompanying boom in cashless payments has
dovetailed nicely with the government’s long-held goal
of lessening the predominance of cash in Vietnamese
society. The world has also opened up further for local
goods and services, boosting exports and balancing trade.

DIGITAL BIZ
Editor’s letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Gaining in renown Vietnam working towards becoming
LEADERS regional player in industrial electronics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38
Vietnam picks no side PM emphasizes Vietnam’s foreign policy
stance during official visit to US . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 STARTUPS
The latest from the world of startups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .40
AT A GLANCE
Leading news from the month at a glance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 ANALYSIS
At an advantage Standard Chartered Bank looks at how RCEP
BIZ GUEST will benefit Vietnam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41
Innovating excellence Mr. Nawaf Al Zamil, President of Zamil
Steel, on its 25 years in Vietnam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24 PROPERTY
Return to workOffice segment growing amid ‘new normal’ . . . . . . . . .42
BUSINESS REPORTS
Back in shape; Keeping cargo cool; A share of the action; CORPORATE NEWS
To the benefit of both; Shift in staffing; Seeking safety and What’s happening in the world of business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44
convenience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26

BIZ TRAVELER
Partnerships growing presenceMr. André P. Gerondeau, COO of
Melia Hotels International, on its cooperation with Vinpearl . . . . .37 Statistics Updated economic figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46

P I C T U R E S B Y T R A N V I E T T U A N , D E S I G N B Y V E T M E D I A

V I E T N A M E C O N O M I C T I M E S

EDITOR-IN-CHIEF Dr. Chu Van Lam COMMERCIAL OFFICES DISTRIBUTION CHANNELS • Embassies in Vietnam, cultural centers EMAIL
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ENGLISH LANGUAGE EDITORJohn Harding
We would like to sincerely thank the Ministry of Foreign Affairs and all overseas embassies and representative offices of Vietnam for their support and cooperation in the worldwide circulation of our magazine.
ISSN 2734 - 9683 - LICENCE No. 272/GP-BTTTT ON JUNE 26, 2020, PUBLISHED MONTHLY BY THE VIETNAM ECONOMIC ASSOCIATION, PRODUCED IN VIETNAM AND PRINTED AT TIEN PHONG PRINTING AND COMMERCE JOINT STOCK COMPANY.© ALL RIGHTS RESERVED

www.en.vneconomy.vn JUNE 2022 | VIETNAM ECONOMIC TIMES | 1