Cashew exports

President Nguyen Xuan Phuc (centre) and other delegates cut the ribbon to open the Tan Thuan CMC Data Centre on August 15. (Photo: VNA) Hanoi (VNA) – The Tan Thuan CMC Data Centre, considered the most modern and safest data centre and cloud computing infrastructure facility in Vietnam, officially opened on August 15. With investment of 1.5 trillion VND (64 million USD) from the CMC technology group, the centre covers 13,000 sq.m. at Tan Thuan Export Processing Zone in District 7, Ho Chi Minh City. It was designed by B-Barcelona of Singapore and meets strict international standards for a modern data centre. Addressing the opening ceremony, President Nguyen Xuan Phuc repeated the goal of developing HCM City into a high-quality service, modern technology, and advanced cultural hub that can take the lead in developing the digital economy and society. To that end, the direct engagement of strong, visionary and enthusiastic tech companies like CMC is highly important, … [Read more...] about Leading data centre opens in Vietnam

Double digit export growth According to the Hanoi People’s Committee, the export turnover of goods in June 2022 reached about US$1.517 billion, up 6.8 percent from May 2022 and 17.5 percent from June 2021. In the first half of this year, the commodity exports turnover reached US$8.3 billion, up 17.1 percent over the first half of 2021. Some key items with increased export turnover in this period included textile and garment, reaching US$1.22 billion, up 29.6 percent; computer components and peripherals, US$1.072 billion, up 20.2 percent. The total import turnover of goods hit US$3.675 billion in June and US$20.5 billion in the first six months of 2022, the latter of which is 24.5 percent higher than the same period in 2021. Among the items of highest value were machinery, equipment and spare parts reaching US$2.996 billion, down 5.6 percent; petroleum US$2.934 billion, 2.8 times higher than the same period in 2021; computers, electronic goods and components at US$1.535 … [Read more...] about Hanoi helps firms implement trade deals

Cooperation between Hanoi and Vientiane remains an example of the long-standing and special relations Vietnam-Laos. Hanoi and Vientiane have been taking steps to bolster economic ties during the Vietnam-Laos 2022 Solidarity and Friendship Year. Overview of the “Hanoi-Vientiane Cooperation for Development” investment, trade, and tourism conference. Photo: The Hanoi Times At the investment, trade, and tourism conference titled “Hanoi-Vientiane Cooperation for Development” on August 10, Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen noted the cooperation between Hanoi and Laos’ provinces in general, and with Vientiane in particular, have been progressing in all spheres, including priority fields of economy, healthcare, education, agriculture, military, and people-to-people exchange. Echoing Quyen’s view, Vice Director of the Hanoi’s Department of Planning and Investment Nguyen Ngoc Tu added since 2004, Hanoi has been funding several projects to … [Read more...] about Hanoi – Vientiane bolster economic ties

illustrative photo With the message ‘Asian seafood house’, the Vietfish 2022 International Seafood Exhibition organized by the Association of Seafood Exporters and Producers - VASEP will take place from August 24 to 26, 2022 at the Saigon Exhibition and Convention Center (SECC) at 799 Nguyen Van Linh in Ho Chi Minh City’s District 7. The event will see the participation of nearly 200 units with 362 exhibition booths in various fields. The Vietfish 2022 not only connects leading enterprises in the quality of shrimp, fish, and mollusks but also businesspersons can collect the latest information and achievements in seed, animal feed, biological products, equipment technology, production and processing. Attendees can experience directly the models, and technology and directly evaluate the quality of seafood through fresh or ready-made products at the booth. Additionally, Vietnamese consumers will have the opportunity to learn and enjoy 100 percent Vietnamese seafood products … [Read more...] about International Fisheries Exhibition-Vietfish 2022 returns to HCMC from August 24

T&Y SuperPort Vinh Phuc SC (T&Y) – a joint venture between YCH Group and Vietnamese conglomerate T&T Group – inked two MoUs with VNA and VNR on August 12 to embark on the first multimodal connectivity partnerships for the first-of-its-kind smart logistics infrastructure project in Asia – Vietnam SuperPort – that is slated for completion by 2025. Vietnam SuperPort is the first multimodal infrastructure project invested in by a Singaporean firm in Vietnam. The project is expected to strengthen logistics and supply chain connectivity in the ASEAN region with the adoption of technologies and innovative solutions and driven by the strong economic ties made possible by the close partnership between Vietnam and Singapore and the strong business connections between the two nations. Executive chairman of YCH Group Robert Yap said, “The MoUs with VNA and VNR are an important milestone for Vietnam SuperPort. For a smart logistics infrastructure project of this stature, … [Read more...] about Vietnamese and Singaporean firms partner to improve supply chain connectivity

A customer buys vegetable at a supermarket in HCM City. — VNA/VNS Photo The HCM City Department of Industry and Trade has implemented measures to manage prices, supply and demand of goods in markets in a bid to keep inflation under control. The department is calling on supermarkets and convenience stores to forecast market demand, closely coordinate with key suppliers to develop plans, and store and prepare abundant goods at stable prices. Markets should implement preferential discounts on key products and other essential commodities while sharing other costs to reduce the pressure of increasing retailing prices to consumers, the department said. When there are signs of scarcity of goods or lack of supply in the system, it is recommended that supermarkets and convenience stores report to relevant authorities for timely coordination, the department said. The department is also requiring enterprises participating in the market stabilisation programme to actively prepare their … [Read more...] about HCM City seeks to manage stable prices, supply and demand of food

Nguyen Ba Vinh, director of Minh Vi Exhibition and Advertisement Services Co., Ltd, introduces China Homelife Vietnam 2022 at a press briefing in HCM City last Friday. — VNS Photo China Homelife, a specialised trade show for Chinese products, will be held for the first time in Viet Nam at the Saigon Exhibition and Convention Centre from August 29 to 31. Nguyen Ba Vinh, director of Minh Vi Exhibition and Advertisement Services Co, Ltd (VEAS), said China Homelife Vietnam 2022 has attracted the participation of more than 160 leading Chinese manufacturers and suppliers in over 200 booths, displaying products in four main categories: household appliances, consumer electronics, textiles and garments, and building materials-interior. Vinh said currently China is implementing a ‘zero COVID policy’, so the exhibition will be held in a hybrid format. Chinese exhibitors will still showcase their latest products onsite for customers to experience and feel the new trends, and at the same … [Read more...] about China Homelife exhibition to open in Viet Nam for the first time

The countries attempt to strengthen relations on politics, economics, energy, tourism, and manpower to tap potential of both. Vietnam’s Prime Minister Pham Minh Chinh has requested Vietnamese and Qatari authorities to speed up negotiations on a bilateral free trade agreement. Vietnam’s Prime Minister Pham Minh Chinh meets Qatar’s Deputy Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani in Hanoi on August 15. Photo: VGP He requested the two countries to ink an agreement on visa exemption for ordinary passport holders. On the same day, Vietnamese Minister of Foreign Affairs Bui Thanh Son met Sheikh Mohammed bin Abdulrahman Al-Thani, agreeing to boost trade promotion activities, facilitating exports to each market. The top diplomats also agreed to enhance cooperation at international forums, including the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC). Qatari Deputy Prime … [Read more...] about Vietnam, Qatar eye free trade agreement

Trade in goods between Vietnam and the UK has grown rapidly According to the Ministry of Industry and Trade, two-way trade between the UK and Vietnam reached US$6.6 billion in 2021, an increase of 17.2 percent compared to 2020. The expected recovery of the British economy from the pandemic and growing consumer demand in the UK will offer more opportunities for Vietnam’s exports in the years to come. The UK is currently Vietnam’s third largest trading partner in Europe after Germany and the Netherlands. The UK and Vietnam established a strategic partnership in 2010. The signing of the trade deal was of great significance, preventing an interruption of bilateral trade at the end of the Brexit transition period on December 31, 2020 and promoting post-pandemic economic recovery. In addition, the contents of the UKVFTA are similar to those of the EU-Vietnam Free Trade Agreement (EVFTA), shortening negotiations. Embracing globalization has been one of Vietnam’s core strategies to … [Read more...] about UK deal offers gateways to regional trade

Vinh Hoan Corporation (VHC), one of the top producers and exporters of basa fish in the country, raked in more than $34.2 million in the second quarter of this year, triple compared to one year ago, setting a record since the company came on the bourse in the fourth quarter of 2007. This means VHC has fulfilled nearly 84 per cent of the year's profit plan just after six months. Similarly, Sao Ta Food JSC also eyed a record quarterly profit since going on the bourse in the fourth quarter of 2006. Along with this, the company counted more than $5.13 million in post-tax profit in Q2, showing a 30 per cent jump on-year. The seafood sector reaped $6.7 billion in total export value in the first seven months, showing a 35 per cent jump on-year IDI Development and Investment Corporation reaped nearly $100 million in Q2, up 8.5-fold on-year, reaching its highest profit level since its first disclosure of information to the public in the first quarter of 2010. Nam Viet … [Read more...] about Seafood producers eye record profit yet face mounting challenges