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An Indian businesswoman receives BRIA 2022 Vietnam Award (Photo: VNA) HCM City (VNA) – The India n Consulate General in Ho Chi Minh City, in collaboration with the Vietnam-India Friendship Association in the city, organised a people-to-people exchange meet on June 25. Consul General Madan Mohan Sethi said that the gathering is part of the activities in celebration of the 50th anniversary of the establishment of Vietnam-India diplomatic ties, with a hope to strengthen mutual understanding, and consolidate and develop the solidarity and friendship between the Indian people and people of Vietnam in general and Ho Chi Minh City in particular. He noted that potential for bilateral cooperation remains huge, especially in the fields of mutual interest such as economics, trade, culture, tourism, education and training. The diplomat committed to doing his best to connect economic and trade cooperation between the two countries’ businesses, promote cultural and … [Read more...] about India-Vietnam people-to-people exchange meet held in HCM City

Khai congratulated the Cambodian Government on the important achievements obtained under PM Hun Sen’s leadership, especially the success in COVID-19 containment and socio-economic reopening and recovery. Men Sam An, who is also Minister of the National Assembly - Senate Relations and Inspection of Cambodia, Vice President of the Cambodian People’s Party, and Chairwoman of the Cambodia - Vietnam Friendship Association, expressed her honor to represent the Cambodian Government to attend and deliver remarks at the ceremony marking the 55th founding anniversary of the countries’ diplomatic ties held in Hanoi earlier the same day. Saying she is impressed with Vietnam’s all-round attainments over the past years, she expressed her belief that under the clear-sighted leadership of the Communist Party of Vietnam, the Vietnamese Government and people will continue reaping more successes in national reforms and development and unceasingly promoting Vietnam’s stature in the international … [Read more...] about Deputy PMs agree on measures for strengthening Vietnam-Cambodia links

At the event (Photo: VNA) HCM City (VNA) – Investors from the Republic of Korea (RoK) in Ho Chi Minh City are facing a number of bottlenecks related to labour regulation and administrative procedures that need to be promptly removed, heard a June 24 dialogue between the municipal leaders and the business community. The collection of seaport infrastructure fees was also pointed to by many participating businesses. From April 1, 2022, all container vehicles entering and leaving the city’s Cat Lai port have to pay an additional fee for using seaport infrastructure. Korean firms proposed the establishment of a monthly gross payment process and a reduction of the fee, given their difficulties from increased logistics costs. Phan Van Mai , Chairman of the municipal People’s Committee, said the southern economic hub is working to recover after two years affected by the COVID-19 pandemic. Such recovery sees a significant contribution of the business communities, including … [Read more...] about HCM City works to clear hurdles for RoK investors

The president of the Korean Chamber of Commerce in Vietnam (KOCHAM) has asked the Ho Chi Minh City government to assist South Korean enterprises in alleviating their cost burden in the current difficult period. KOCHAM President Shon Young Il made the request at a dialogue session between the city government and South Korean enterprises, held on Friday by local authorities in coordination with the Consulate General of South Korea in the southern metropolis. Speaking at the event, chaired by the municipal People’s Committee chairman Phan Van Mai, the KOCHAM leader said Korean businesses are facing a lot of pressure while trying to recover from the COVID-19 pandemic and cope with impacts caused by the ongoing Russian-Ukraine military conflict and the inflation risk. Therefore, he hopes that the Ho Chi Minh City administration can support Korean businesses in reducing their cost burden in this tough period. Specifically, local authorities should assist Korean businesses in solving … [Read more...] about S. Korean firms in Ho Chi Minh City seek help to ease rising cost burden

Illustrative photo (Source: vneconomy.vn) Hanoi (VNA) – Enterprises are gradually switching to an electronic documentation system , underpinning the nation’s efforts to develop the digital economy . A survey conducted by the Ministry of Industry and Trade in 2021 revealed that at least 33% of the surveyed businesses use e-contracts in their commercial activities. The application not only helps firms and their customers be more efficient, but also contributes to reducing the impact of the COVID-19 pandemic and the gap in commercial transactions. The Bkav DX Platform has hosted e-contracts for more than 3 years. As a result, it helped companies save 70% of printing and delivery costs annually and shortened the process of providing products to customers by 50%. A representative of FPT Information System Company said that in Vietnam, the concept of e-contracts is no longer new. On the FPT.eContract – a signing platform between businesses and individuals – there are more … [Read more...] about Electronic documentation system fundamental to digital economy

The US, China, and the EU remain the three largest markets for Vietnamese cashew, accounting for 26.8 percent, 17.7 percent, and 20.5 percent of the total export value of the cashew industry of Vietnam, respectively. Cashew nut exports to the US market declined by 10.1 percent in volume and 30.5 percent in value over the same period last year. Cashew nut exports to the EU market surged by 14 percent in volume but dropped by 21.2 percent in value. Cashew nut exports to China jumped by 136.4 percent in volume and 140.2 percent in value. Meanwhile, Vietnamese cashew processing enterprises imported 480,000 tons of raw cashew in April, spending up to $772 million, a sharp increase of 375 percent in volume and 470.5 percent in value compared to that in April last year. In the first four months of this year, Vietnam imported a total of 1.19 million tons of raw cashew, with a value of up to $1.88 billion, up 300 percent in volume and 323.5 percent in value over the same period last year. … [Read more...] about Vietnamese cashew industry sees trade deficit for the first time

At Te Giac Trang (White Rhino) oil field (Photo: VNA) Hanoi (VNA) - Te Giac Trang (White Rhino) oil field has officially reached a production milestone of 100 million barrels of crude . The field is situated in Block 16-1, about 100km southeast of the southern Vung Tau City. Its commercial development was announced in September 2009. The new milestone has turned its operator – the Hoang Long - Hoan Vu Joint Operating Company ( HLJOC ) - into one of the five oil companies on the Vietnamese continental shelf making such record. The HLJOC was established by Petro Vietnam Supervision Company (PVSC), SOCO Vietnam Ltd. (SOCO), Amerada Hess Vietnam Ltd. (HESS), and OPECO Vietnam Ltd. (OPECO). By now, the company’s total revenue has reached 8.3 billion USD, contributing more than 2.8 billion USD to the state budget./. VNA … [Read more...] about Te Giac Trang oil field reaches production milestone of 100 million barrels

Nguyen Anh Duong, Director of the Hanoi Promotion Agency (HPA) – the organiser of the event (Photo: VNA) Hanoi (VNA) - A festival promoting the sale of farm produce and handicrafts, recognised by the One Commune One Product (OCOP) programme, in association with tourism opened in Hanoi on June 24 evening. Speaking at the opening ceremony, Nguyen Anh Duong, Director of the Hanoi Promotion Agency (HPA) – the organiser of the event, said that the festival is an opportunity for businesses to popularise their brands, products, and agricultural models associated with ecotourism to visitors and consumers in the capital city, thus contributing to improving brand value, preserving traditional craft villages, and diversifying OCOP products associated with local tourism. Delegates cut ribbon to kickstart the festival (Photo: VNA) The festival comprises 73 booths, including 20 of businesses from other localities across the country. Many activities held on the … [Read more...] about Festival on OCOP products associated with tourism underway in Hanoi

Van Don - Mong Cai Highway under construction (Source: baoquangninh.com.vn) Quang Ninh (VNA) – The Van Don - Mong Cai highway, which is scheduled for completion and operation on June 30, aims to create favourable conditions for the northeastern province of Quang Ninh to make breakthrough developments and promote economic links in the region. Nguyen Tien Oanh, Director of the Executive Board of the highway project (the Tien Yen - Mong Cai section), said it has taken time to complete this section – which extends from Bach Dang bridge to the Mong Cai international border gate , because of difficulties caused by the COVID-19 pandemic and other reasons. However, the foundation of the sector has been basically completed and is entering the finishing stages, he said. According to representatives from the Ministry of Transport, the Van Don - Mong Cai highway, which is part of the Hanoi - Quang Ninh highway, plays a strategic role for the socio-economic development of Quang … [Read more...] about Van Don – Mong Cai highway: new launch pad for Quang Ninh’s economic growth

As more Vietnamese are seeking air travel services this summer, air ticket prices have increased as airlines are grappling with surging fuel costs and staffing challenges. Prices for flight tickets on many domestic routes operated by Vietnam’s five major carriers went up 20-40 percent for the last week of June compared to two months ago, according to an analysis by Tuoi Tre (Youth) newspaper. Airfares for international flights to and from Vietnam also soared 20-35 percent compared to pre-pandemic rates, according to a representative of Transportation Services Company (Worldtrans), a Vietnamese air charter provider. Dang Anh Tuan - head of communications of Vietnam Airlines, Vu Duc Bien - general director of Vietravel Airlines and other airline representatives all blamed rising fuel prices for the airfare spike. Fuel costs account for 30-40 percent of an airline’s total expenses, according to the International Air Transport Association (IATA). As fuel prices rise, airlines … [Read more...] about Airfares surge as domestic and int’l travel rebounds, fuel prices skyrocket