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An exhibition and trade networking event was held in HCM City’s Le Van Tam Park for businesses from southern provinces to promote their goods to consumers and distributors. — VNS Photo Viet Dung An exhibition and trade networking event for southern provinces to promote their agriculture products with high export potential has opened at HCM City’s Le Van Tam Park. Around 300 businesses from 18 southern provinces are showcasing high-quality agricultural products for the benefit of end consumers and potential business partners such as retail chains and exporters. Vu Ba Phu, head of the Viet Nam Trade Promotion Agency, said the event seeks to connect businesses with foreign trade facilitation organisations to stimulate exports. Besides, producers and distributors could network with each other and study each other’s markets, he said. Online B2B meetings were also held between Vietnamese and foreign businesses. The event, organised by the Ministry of Industry and Trade and … [Read more...] about Exhibition, trade event held for southern provinces’ businesses

Part of BRG Da Nang Golf Resort (Source: VNA) Da Nang (VNA) – The central coastal city of Da Nang will hold an international golf tourism festival from August 28 with the BRG Open Golf Championship Da Nang 2022 being its highlight, according to Director of the municipal Department of Tourism Truong Thi Hong Hanh. The BRG Open Golf Championship Da Nang 2022 is part of the Asian Development Tour – ADT system. The city will host the championship for three consecutive years. The tournament expects to welcome 144 professional golfers from Vietnam and various countries. The final round will see the competition of 50 players who vie for total rewards of 75,000 USD. At the same time, the festival also comprises an international conference on golf tourism development, golf exploring and experiencing, culinary and charity activities, said the official. Director of the municipal Department of Tourism Truong Thi Hong Hanh provides information about the golf tourism festival … [Read more...] about Da Nang to host golf tourism festival

The social security unit is confirming documents for laborers requesting the rent support. The number of eligible laborers to receive VND500,000 per person per month (US$21.4) for no later than 3 months using Form No.2 is 3,162,600. The figure to receive VND1 million ($42.8) per person per month for no later than 3 months using Form No.3 is 196,143. Compared to the estimated quantity of 3.4 million laborers entitle to this financial support of VND6,600 billion in total ($282 million) from the national budget, the confirmed cases account for nearly 99 percent. However, the progress of rent support distribution in localities is extremely slow (only one-tenth of the confirmed figure). In July, Deputy Prime Minister Le Minh Khai directed the People’s Committees of all provinces and municipalities urgently finish this task. Recently, Prime Minister Pham Minh Chinh also requested that the Ministry of Labor, Invalids and Social Affairs, the Ministry of Finance, and related state units … [Read more...] about Rent support for laborers reaching nearly 99 percent of plan

Digitalization is seen as a major instrument for Vietnam to promote an independent and self-reliant economy. Businesses and people should be the main beneficiaries and the driving force for the national digital transformation, so the Government encourages them to take an active part in this process. Prime Minister Pham Minh Chinh at the meeting. Source: VGP Prime Minister Pham Minh Chinh stressed the goal during a meeting of the National Committee on Digitalization today [August 8]. According to Chinh, efforts from Government agencies and localities have been translated into strong progress in Vietnam’s digitalization and contributed to the socio-economic recovery. The prime minister, however, pointed to the incompleted legal environment as the reason hampering the digitalization process, while a lack of investment in digital infrastructure, including the mobile and fixed broadband internet speeds behind the world average, means it has failed to create … [Read more...] about People and businesses urged to take part in the digitalization: PM

The spice products are available at commercial centres, supermarkets, convenience stores, e-commerce platforms – Shopee , Lazada and Tiki, to name but a few, and Facebook pages and websites of businesses. (Source: tuoitre.vn) Hanoi (VNA) – With a population of nearly 100 million and strength in cultivating spice plants, Vietnam has substantial potential for spice production, consumption and export. According to Nielsen Market Research Company , the Vietnamese seasoning and sauce market expands by an average of 25-32% during the 2016-2022 period. Vietnamese households pose a high demand for seasoning for their meals – and it does take a lot of seasoning to make 30 million litres of soup a day, all the while the amount of fried and stir-fried dishes increases by 18 million plates and 14 million braised dishes during the weekends. The domestic spice market has lured international groups with products like Knorr (Unilever, the UK), Aji-ngon (Ajinomoto, Japan), Miwon … [Read more...] about Businesses spice up Vietnamese market

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 3. – State President Nguyen Xuan Phuc on August 3 inspected the implementation of the 2022 special amnesty work at Xuan Loc prison in the southern province of Dong Nai. President Nguyen Xuan Phuc inspects special amnesty work at Xuan Loc prison in Dong Nai province. (Photo: VNA) The leader highlighted the political and social significance of the policy, saying that it manifests the humanitarian advocacy and special leniency of the Party and State towards prisoners who show good behaviour and high determination to rehabilitate themselves. Read full story – Prime Minister Pham Minh Chinh stressed the need to ensure the stability of the macro-economy, markets of different kinds, politics and people’s material and spiritual life, while chairing a regular government meeting on August 3. Prime Minister Pham Minh Chinh speaks at the meeting. (Photo: … [Read more...] about ☕ Afternoon briefing on August 3

The much-needed support from the Government has built trust among the business community and contributed to the overall socio-economic recovery during the first seven months of 2022. As of July, the Government has delayed or waived payment of taxes and fees worth VND89 trillion (US$3.8 billion) for businesses and people affected by the Covid-19 pandemic, surpassing similar figures in the 2020-2021 period. Overview of the Government meeting. Source: VGP Minister of Finance Ho Duc Phoc briefed on the execution of tax break policies during a Government meeting today [August 3]. According to Phoc, the much-needed support from the Government has built trust among the business community and contributed to the overall socio-economic recovery during the first seven months of 2022. According to a Government report, the consumer price index (CPI) in July increased by 0.4% month-on-month and averaged 2.54% during the first seven months of 2022, which remained below … [Read more...] about Covid-19 financial support for businesses, people reaches $3.8bil

Illustrative image Benefits and worries Referring to the increasing value of the US dollar, Mr. Nguyen Chi Trung, Chairman of the Board of Directors of the Gia Dinh Group, said that big exporters such as Gia Dinh shoes will certainly benefit as they will have more revenue to reduce the pressure of input costs which have been increasing continuously over the last months. Mr. Trung cited that the previous exchange rate was about VND22,600 for one US dollar and when an enterprise exported US$1 million worth, it could earn about VND22.6 billion. Now, if the exchange rate is anchored at VND23,900 for one US dollar than the figure will be about VND23.9 billion. It is true that there will be an immediate benefit to be seen by many export groups. However, according to Mr. Nguyen Xuan Hong, Chairman of the Ho Chi Minh City Textile and Garment Embroidery Association, in general when the dollar appreciates it will be seen as favorable for many exporters, including textile and garment … [Read more...] about Rising inflation causing concern for export businesses

Customers buy goods at a duty free shop of Southern Airports Services Joint Stock Company (SASCO) in Noi Bai International Airport in Hanoi (Photo: SASCO) Hanoi (VNS/VNA) - The non-aviation service industry has been on the fast track to recovery in the past few months, following the flourishing of the aviation market , despite the impact of volatile and escalating fuel prices as well as the international market's failure to recover as expected. Services such as airline meals, duty-free sales, restaurants, and business lounges thus also benefited. Southern Airports Services Joint Stock Company (SASCO) announced its Q2 net revenue reached nearly VNĐ296 billion (US$12.65 million), up 216% over the same period last year. Profit after tax of enterprises in the period reached nearly 84 billion VND, up 680% compared to a loss of nearly 14.5 billion VND in the same period last year. This is the highest quarterly profit since 2019. In the first six months of this year, SASCO … [Read more...] about Non-aviation service businesses enjoy profits in H1

Delegates attend the webinar (Photo: VNA) Hanoi (VNA) - The Vietnamese Embassy in Morocco and Côte d'Ivoire has recently collaborated with the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency and the Côte d'Ivoire Chamber of Commerce and Industry to organise a webinar connecting businesses of the two countries, and introducing the Vietnamese market. Speaking at the event, Dang Thi Thu Ha , Vietnamese Ambassador to Morocco and Côte d'Ivoire, said that Côte d'Ivoire is one of the leading economies in West Africa and has great potential in economic and trade cooperation with Vietnam. With a population of nearly 26.5 million people, this is a country with strong commodity consumption, but its requirements for product standards are not too strict. Côte d'Ivoire is also rich in natural resources, with an abundant source of raw materials for many manufacturing industries that Vietnam can access and exploit, including some products that Vietnam has been … [Read more...] about Webinar connects Vietnamese, Côte d’Ivoire businesses