Economist Up Competition Finalist

On the afternoon of May 27, the final round of the Economist Up - Integration Journey 2023 competition organized by the Faculty of International Economics ( Diplomatic Academy) took place successfully.

Chung kết Cuộc thi Economist Up - Hành trình Hội nhập 2023

Photo of "The Flying Kite" team when receiving the Champion award of the Economist Up competition. (Photo: Huu Son).

After more than 6 months with 3 rounds of preliminary, training and semi-final, the competition has found 5 teams with the most outstanding export projects to the Japanese market to compete in the final round.

Speaking at the final round, Associate Professor, Dr. Dang Hoang Linh, Deputy Head of Training Department, Head of International Economics Department, Diplomatic Academy, Head of Organizing Committee (OC) and Jury of the contest, said that the contest is a useful playground to help students have the opportunity to approach, learn and experience practical knowledge in the field of import and export.

After 6 months of perseverance and effort, the Organizing Committee has found the top 5 best teams, including the teams: ELOTUS (selected item: Lotus root powder), The Diamond Fiber (selected item: Tai Hoan Cooperative vermicelli), Young Coco (selected item: Coconut), S Materials (selected item: Sedge straws) and The Flying Kite (selected item: Ben Tre green-skinned grapefruit).

Members of the "Young Coco" team received the runner-up prize. (Photo: Huu Son).

The team named "The Flying Kite" convincingly won the top prize with the project "Supporting businesses exporting Ben Tre green-skin grapefruit to the Japanese market", and also won the "Most Favorite Team" award.

After a smooth presentation of their project, the Flying Kite team won a ticket to the second round, a debate round between the two highest ranked teams. In answering questions from the judges, the 5 young girls impressed with their sharp arguments, showing careful preparation and an extremely confident demeanor.

According to students, green-skinned grapefruit in Ben Tre has an abundant supply, but production is still scattered, and exports are not commensurate with potential. Meanwhile, Japan is almost incapable of producing grapefruit itself. In terms of market demand, Japan is a country with a large demand for grapefruit imports and consumption.

When studying market data from 2017-2021, the team found that the grapefruit market in Japan is shrinking, and the demand for lemon grapefruit in Asian countries is increasing. The pressure created by competitors on the export of Vietnamese grapefruit to Japan is only average.

Team "The Diamond Fiber" received the First Prize. (Photo: Huu Son)

Japanese people are relatively demanding customers, however, the foreign community in Japan from countries such as Vietnam and China are potential customers.

At the same time, the group proposed that management agencies can create a website between businesses and farmers to declare full purchase and sale information and automatically update the display of business connections between Vietnam and Japan.

In addition, the product can be given as a gift to partners, and publications can be produced to introduce the product's story. The company promotes the sweet tooth, meets the Japanese need for healthy eating, green processes, and donates profits to charity programs.

The team that finished second was "Young Coco" (Young Coconut - PV) when choosing coconut products for the project to participate in the competition. The main product that the team aimed for was coconuts in Ben Tre and Tra Vinh. The team proposed to strengthen the national brand image and improve product quality by creating websites in Vietnamese, English and Japanese and organizing cooperative areas that are strictly controlled from the input.

The First Prize belongs to the team "The Diamond Fiber" with the product selected for the project: "Exporting vermicelli products of Tai Hoan Cooperative to the Japanese market".

The "Team with Potential Project" award went to two teams "Elotus" and "S Material" with lotus root products and sedge straws, respectively.

Economist Up is a pioneering academic competition in the field of economics under the direction of "Economic Integration", organized by the Faculty of International Economics, Diplomatic Academy, is a playground for exchange, proactive learning as well as enhancing practical experience for students.

Candidates will participate in searching for Vietnamese products that suit the tastes and consumption habits of foreign markets; and find ways to promote the export of Vietnamese goods, specifically to the Japanese market.

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