Circular economy business models

The model is expected to be gradually replicated in other entertainment venues in the city after its initial success. The Phu Quoc District People’s Committee and WWF-Vietnam launched a model project of reducing plastic waste at tourist destinations, as part of the drive to become a plastic-free island. The launch of tourist trash cans is expected to encourage the habit of sorting and disposing of garbage on-site. Photo: VOV Under the project, there are 12 sets of tourist trash cans and two public drinking water fountains have been made available in some venues on the island, of which four trash cans were installed in Dinh Cau Temple and Bach Dang Park, and another eight were placed in Tran Hung Dao Street, Duong Dong Ward, with a total cost of nearly VND800 million (US$34,296) sponsored by WWF-Vietnam. Dinh Cau Temple and Bach Dang Park are among the most favorite destinations for tourists and locals, so these places receive the largest amount of single-use … [Read more...] about Phu Quoc, WWF-Vietnam launch plastic waste reduction model at tourist destinations

Yerkin Tatishev, founder and chairman of Kusto Group During your visit to Vietnam, you identified and reconfirmed the potential of the Vietnamese market. Could you please share your investment strategy and plan for the coming years? Over the past 10 years, we have invested in different industries in Vietnam from cement to logistics and real estate. During that time, we also gained a lot of experience. The business results of the projects are different but in general, they are positive. Through this process, we have also built strong foundations for development in Vietnam such as a network of partners, friends, and a deep understanding of the local market. The Vietnamese government is stepping up investment in infrastructure such as roads, airports and many others, in which private companies are actively participating. Investment in infrastructure will create a positive growth engine for Vietnam. The nation's infrastructure system is changing very quickly and I firmly … [Read more...] about Kusto Group diversifies its business in Vietnam

Electric motorbikes manufactured by Vinfast. Many UK businesses are looking into electric mobility industry in Vietnamwhich is expected to grow by double digits in the next few years. (Photo: VNA) Hanoi (VNS/VNA) - Many British investors are seeking investment opportunities in Vietnam in the hope of cashing in on free trade agreements ( FTA s) that Vietnam has signed with the UK and other economies worldwide. The UK-Vietnam Free Trade Agreement (UKVFTA), which officially took effect in May 2021, was one of the first trade deals inked by the UK after it left the European Union by the end of 2020, which reflected the importance of Vietnam in the UK’s trade policy. Bilateral trade and investment between the two economies have grown significantly with a growth rate of 17% last year. Data of the Foreign Investment Agency under the Ministry of Planning and Investment showed as of October 20, 2021, the UK had 439 valid projects amounting to nearly 4 billion USD in registered … [Read more...] about More British investors look at Vietnam to cash in on free trade agreements

Hanoi (VNA) – Plastic People has been the only Vietnamese innovator in the Top 5 of the Plastic Waste to Value Southeast Asia Challenge to tackle plastic waste mismanagement in the region. The challenge was jointly launched by The Incubation Network, in partnership with the Global Plastic Action Partnership, UpLink by the World Economic Forum, and the Alliance to End Plastic Waste, aiming to accelerate innovative solutions that are focused on p lastic recycling and upcycling in Indonesia, the Philippines, Thailand, and Vietnam. The top five innovators will be participating in the tailored development programme over the course of five months. The challenge received a total of 101 applications through the UpLink platform. Of the total, 48 shortlisted candidates were carefully assessed by academic researchers, corporate sustainability practitioners, innovators, and climate and circular economy specialists. The selected innovators will receive partnership building … [Read more...] about Vietnamese start-up enters top five innovators in plastic waste settlement

The deputy minister was speaking at the seminar "Danish experiences and solutions in sustainable agri-food production" on August 17. Tien underscored Denmark as one of the leading countries in agriculture and sustainable development. Denmark's experiences, he believed, would help Vietnamese firms speed up on the road to high-tech and climate-smart agriculture. Sanne Hoj Andren, Sector Counselor for Agri-Food at the Embassy of Denmark, revealed that strategic sector cooperation (SSC) is a partnership between Danish public authorities and Vietnamese ministries. The two countries have SSC in four areas comprising education, health, food safety and statistics. The overall objective of the food safety SSC is to improve feed quality and food safety in Vietnam's pork value chain. To that end, Danish authorities have been assisting Vietnamese partners in pork origin-tracing, controlling veterinary medicines, controlling food safety in meat processing and capacity building in risk-based … [Read more...] about Danish seminar shares agricultural experience with Vietnamese firms

The prices of automobiles in Vietnam have been continuously increasing in the wake of the COVID-19 pandemic due to a dearth of auto parts. Many Peugeot car models manufactured and assembled by Vietnam’s Truong Hai Auto Corporation (THACO) will see price hikes of VND20-40 million (US$854-1,709) beginning in September. This is not the first time THACO has increased the prices of its products since the pandemic was put under control. The cost of other models assembled by THACO, such as the Kia Sonet and Kia Seltos, also jumped by tens of millions of dong. (VND10 million = $427) Despite the price hikes, many buyers are on three-to-six-month waiting lists for their new cars. Toyota Vietnam hiked the listed prices of its two best-selling MPV (multi-purpose vehicle) models Avanza and Veloz by VND10 million ($427) in early August. The Toyota Avanza series now sells for VND558-598 million ($23,800-25,500), while the Toyota Veloz costs VND658-698 million ($28,100-29,800). Some … [Read more...] about Car prices rise due to auto parts shortage in Vietnam

Exports increased 17% year on year in the first half of 2022. (Photo: VNA) Hanoi (VNA) - Vietnam saw a year-on-year increase of 17% in exports in the first six months, but it will be hard for overseas shipments to meet expectations in the last half of the year, according to the HSBC . In its “Vietnam at a glance” report released on August 17, it said after the impressive export growth in H1, a slower-than-expected pace has been recorded since the start of H2. The main cause is a growth slowdown in the electronics industry, especially mobile phones. Samsung’s second-quarter results show that demand for consumer electronics is weakening, thus affecting the smartphone, TV, and other segments. While textile, garment and footwear exports rose sharply, by 30% from a year earlier, the Vietnam Textile and Apparel Association forecast the amount ordered will decline in the time ahead. In July, import growth also slowed down to only 3.4% compared to the double-figure … [Read more...] about Export growth may be slower than expected in H2: HSBC

Denmark, through strategic sector cooperation (SSC) with Vietnam, helps implement national action plan in agriculture while promoting the engagement of stakeholders in the value chain. Among issues shared at an event held in Hanoi on August 17, Vietnamese officials, experts, and businesses were impressed with the philosophy of “producing more from less” in Denmark’s agri-food sector. Denmark targets the climate-neutral food industry by 2050. Photo: Danish Agriculture and Food Council Troels Jakobsen, Trade Counsellor of the Embassy of Denmark, said Denmark produces three times more food than the Danish population can consume, with some of the lowest greenhouse gas emissions in Europe. The idea was shared at Seminar – Business Matchmaking held in Hanoi on August 17 to discuss Danish experiences and solutions in sustainable agri-food production. Meanwhile, Jeppe Søndergaard Pedersen, International Chief Advisor, the Danish Agriculture and Food Council, … [Read more...] about “Produce more from less”: Danish agricultural philosophy for Vietnam

Reports revealed that the Saigon Newport Corporation has effectively carried out the defense and security consolidation in combination with socio-economic development. The unit has always fulfilled production and trade missions excellently and obtained sustainable achievements in port operations, logistics services, and marine economy while effectively carrying out military and defense mission. So far, the military business has invested in building a synchronous and modern infrastructure system in all three regions of the country and at key areas holding a strategic position both in terms of defense and security and economy. The Saigon Newport Corporation has been listed in the world’s top 19 container terminal operators in terms of throughput and held the No.1 position in Vietnam in terms of port operations. The unit is currently undertaking port services for over 55% of the market share of import and export containers through seaports nationwide. Every year, Saigon Newport … [Read more...] about General Staff’s Chief works with Saigon Newport Corporation

The credit quality of real estate firms is at a good level with financial leverage below 1.5x. During the first seven months of 2022, over VND420 trillion (US$18 billion) was pumped into the real estate market. The figure could be raised to VND800 trillion ($34 billion) by the end of the year in case of favorable conditions. Investors looking at a real estate project in Me Linh District, Hanoi. Photo: Pham Hung Economist Can Van Luc, a member of the National Financial and Monetary Advisory Council, shared the view at a real estate forum held on August 17, noting the figure is huge compared to total investment capital for the economy. According to Luc, while transaction activities have been subdued in recent months, this would pose a golden opportunity to restructure the market for more sustainable growth. “In the past, real estate was widely seen as the first option when people explore fields to invest in, and that is a huge risk to the economy,” Luc said. … [Read more...] about Over US$34 billion set to pour into Vietnam’s real estate market this year