business

Illustrative image (Photo: fpt.com)   Hanoi (VNA) - Vietnam's information technology giant FPT Corporation reported revenue and pre-tax profit of over 17 trillion VND (732.5 million USD) and nearly 3 trillion VND (129.3 million USD) in the first eight months of this year, up 21 percent and 28 percent, respectively. In August alone, FPT's revenue and pre-tax profit reached almost 2.3 trillion VND (99.1 million USD) and 454 billion VND (19.5 million USD), an increase of more than 17 percent and 30 percent compared to the same period last year. In the first eight months, post-tax profit reached 2.5 trillion VND, up 27 per cent year-on-year. EPS (earnings per share) were 2,961 VND, up 29 percent year-on-year. The profit margin continued to improve, reaching 17.6 percent compared to 16.6 percent in the first eight months of 2018. The company’s technology segment recorded growth of 43.4 percent, acting as the main growth engine. The segment recorded revenue and pre-tax profit … [Read more...] about FPT’s profit up 28 percent in first eight months of 2019

A corner of Thang Long Industrial Park III in Vinh Phuc (Photo: VNA) Tokyo (VNA) – Japan’s Sumitomo Corporation will spend 19 billion JPY (177 million USD) to expand two industrial parks in Vietnam in order to serve businesses shifting production away from China to avoid the trade war. Sumitomo will add about 290 hectares to two of its three complexes outside Hanoi. The three industrial parks host roughly 190 companies, 90 percent of which are Japanese manufacturers. The tit-for-tat tariffs imposed by the US and China have forced companies to revise production strategies to avoid the duties. Many Japanese companies interested in moving into Sumitomo's industrial parks are seeking to diversify manufacturing risks. Sumitomo will spend over 14 billion JPY adding about 181 hectares to the southeast portion of Thang Long Industrial Park II in northern Hung Yen province. The site already spans 346 hectares. Groundbreaking is scheduled for 2021, … [Read more...] about Sumitomo Corp. expands industrial parks in Vietnam

The nine-month CPI increases by about 2.52 percent from the same period of 2018, a very low figure compared to those in recent years, according to the General Statistics Office (Photo: VNA) Hanoi (VNA) – The Steering Committee for Price Management held a meeting in Hanoi on September 27, during which Deputy Prime Minister Vuong Dinh Hue said that if there are no unexpected factors, this year’s inflation can be kept at around 3.3 – 3.5 percent. The committee reported that in Q3, the consumer price index (CPI) has posted month-on-month growth, 0.18 percent in July, 0.28 percent in August and 0.32 percent in September. However, the pace was still slower than forecast, creating more room for controlling this year’s inflation within the limit of 4 percent set by the National Assembly and Government. Drivers of the CPI expansion this quarter include pork price hikes due to a supply decline as a result of the African swine fever epidemic, and medical service … [Read more...] about Inflation around 3.3 – 3.5 percent this year: Deputy PM

A booth displaying handicrafts from Phu Yen province on the sidelines of the suppliers-buyers conference in HCM City and 45 cities and provinces being held in HCM City from September 26 to 29 (Photo: VNA)   HCM City (VNA) - A conference to link buyers and sellers of goods in Ho Chi Minh City and 45 other cities and provinces opened in the city on September 26.   The four-day event has attracted 1,458 suppliers and 883 purchasing businesses, including modern retailers, export companies, restaurants, hotels, businesses that supply meals to industrial parks and businesses, and collective kitchens. Nguyen Huynh Trang, Deputy Director of the city Department of Industry and Trade, said at this year's conference sourcing firms and consumers in the city discovered nearly 2,000 items such as agricultural products, local specialties in various places, fruits and vegetables, handicrafts, and consumer products that 558 businesses showcased in 449 booths. This year her department … [Read more...] about HCM City conference to link buyers, sellers of goods

Workers at Thang Long Industrial Park II in Hung Yen province (Photo: VNA)   Tokyo (VNA) – The northern province of Hung Yen will spare no efforts to turn it into the optimal investment destination for Japanese investors, Chairman of the provincial People’s Committee Nguyen Van Phong said on September 27. Speaking to more than 100 representatives of Japanese firms participating in an event calling for investment to Hung Yen’s industrial parks (IPs) held in Tokyo, Phong underlined that the province badly needs cooperation in the transfer of modern and eco-friendly technologies, adding that Hung Yen will create favourable conditions for Japanese firms once they invest in the locality. To attract foreign investors, the province has bolstered administrative reforms and information technology application. It has worked to raise capacity of civil servants, as well as speed up infrastructure and land clearance. The same day, Hung Yen inked a memorandum of … [Read more...] about Hung Yen woos Japanese investors