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The Lach Huyen International Port in Hai Phong city. The MoT has asked VMA to consider reducing maritime fees to help firms cover higher fuel costs. (Photo: VNA) Hanoi (VNS/VNA) - The Vietnam Maritime Administration (VMA) has sent a report to the Ministry of Transport (MoT), assessing the possible impact of reduced fees on Vietnamese maritime firms amid mounting fuel prices. The report asserted that adjustments in fees for international transport would have a negligible impact on Vietnamese firms since freight transport between Vietnamese ports and international ports is undertaken predominately by foreign shipping lines. Additionally, maritime fees account for just 7-9 percent of total costs incurred by a vessel engaging in international transport and 3-5 percent in domestic transportation . That means fees reduction is not much of a solution to the problem of mounting petrol bills. “Fuel costs, wages and insurance premiums take up the lion's share in maritime firms’ … [Read more...] about Fee reductions offer little benefit to maritime firms

On June 17 Andros Asia hosted a partnership conference in Tien Giang Province, an event that aimed to promote the development of a sustainable fruit network by the company, local farmers and authorities and fruit suppliers. At the conference, farmers and suppliers were provided with knowledge of Andros Asia's processes from selecting fruits and processing them into premium products that are to be exported to demanding markets such as the U.S., EU and Japan. The partnership conference also marked Andros Asia's fifth anniversary in Vietnam and the grand opening of the Go Cong cold storage. Local farmers in talks with Andros Asia for potential cooperation at the partnership conference in Tien Giang Province. Photo by Andros Asia Experts from Andros Asia also shared with local farmers the development itinerary for raw material regions, including planning agri-engineering, obtaining the Global G.A.P certificate, enhancing fruit output, and collaborating with local … [Read more...] about Partnering with local farmers key strategy of French firm in Vietnam

Australian Ambassador to Vietnam Robyn Mudie shared her favorite pho ga with Foreign Minister Wong and chef Sam Tran during the minister’s visit to Vietnam, the Australian Embassy in Hanoi wrote in a Facebook post Monday. "The Foreign Minister heard from Sam on the history and significance of pho and how to eat pho in the traditional Hanoian style, and the three shared views on Australia and Vietnam's strong people-to-people links." Pho , an iconic dish of Vietnam, is a bowl of flat, soft rice noodles dipped in a fragrant beef or chicken broth flavored with different condiments. It is served with beef or chicken, shallots and chili and lemon to taste. Wong was Australia's first Minister for Climate Change in 2007-10 and Minister for Finance in 2010-13. She became foreign minister last month. Vietnam and Australia established diplomatic relations in 1973 and became strategic partners in 2018. … [Read more...] about Australian foreign minister enjoys chicken noodle soup in Hanoi

Marcel Schröder, Economist, Economic Research and Regional Cooperation Department Asian Development Bank At the beginning of the conflict, the crude oil price breached $130 per barrel in March, the highest since 2008. Since then, it retreated to about $100 in April, before rising again to $120 following the European Union’s partial ban on Russian oil in May. Some worry that the oil price could spike to $200 per barrel in the coming months and how such a shock would impact the economic prospects of Asia’s developing countries. While many institutions, including ours, project a significantly higher oil price in 2022 compared with 2021, these predictions do not foresee $200 per barrel because they attach a low probability of a sudden shock to the global oil supply. A sudden shock is unlikely given the EU’s decision to gradually phase out Russian oil imports by the end of 2022, allowing an orderly transition to alternative supplies and keeping prices stable and affordable for … [Read more...] about Additional oil spike impacts cannot be ruled out

An ETC station on the Hanoi-Hai Phong Expressway. (Photo: VNA) Hanoi (VNS/VNA) - The Ministry of Transport has asked the Directorate for Roads of Vietnam (DRVN), the Vietnam Expressway Corporation (VEC), the Vietnam Infrastructure Development and Finance Investment Joint Stock Company (VIDIFI), and other service providers to realise the Prime Minister's request on completing automatic non-stop toll collection (ETC). The ministry requested VEC to direct service providers and related units to urgently install and operate the ETC system on highways by July 31. In case of delay, the ministry will handle it according to its competence or report it to authorities for strict handling in accordance with the law, including the suspension of toll collection. The ministry asked DRVN to direct and coordinate with VEC in deploying the ETC system on highways managed by VEC, ensuring the schedule and smooth operation. Meanwhile, VIDIFI was asked to continue piloting the ETC on the … [Read more...] about Automatic toll collection set for all expressways in Vietnam by end of July

Hanoi, (VNA) - The following is a list of selected news summaries last weekend by Vietnam News Agency. -National Assembly Chairman Vuong Dinh Hue and a high-level delegation of the Vietnamese legislature arrived at Liszt Ferenc airport in Budapest, the capital of Hungary, in the afternoon June 25 (local time), beginning an official visit at the invitation of the Speaker of the National Assembly of Hungary, László Kövér. Read full story The NA Chairman then visited Albertirsa city, where he was welcomed by Deputy Speaker of the Hungarian parliament István Jakab and city officials. At Hue’s meeting with the deputy speaker of the Hungarian parliament, the two parliament leaders agreed that the two sides should focus on cooperation in agriculture, especially when Hungary has strengths in supply chains from cultivation, processing to marketing and distribution. Read full story -National Assembly Chairman Vuong Dinh Hue will lead a high-ranking delegation of the National … [Read more...] about ☀️ Morning digest on June 27

Seafood processing for export in a company in Can Tho (Photo: VNA) Can Tho (VNA) – The Mekong Delta city of Can Tho recorded an 8.04% growth in GDRP in the first six months of 2022 , the highest for the recent three years, heard a recent review conference of the city’s Party Committee. Le Thanh Tam, Director of the municipal Department of Planning and Investment, said the growth rate is the second highest among the five centrally-run cities in the country. Specifically, the agro-forestry-fishery sector expanded by 3.28%, industry-construction 11.8% and services 7.62%, contributing 0.4%, 3.56% and 3.95% to the overall growth rate, respectively. The Index of Industrial Production picked up 12.86% year-on-year, while the export turnover of goods and services top 1.1 billion USD, up 15.16%. Total revenues from retails and services were estimated at 55.5 trillion VND (2.39 billion USD), an increase of 21.09%. However, the low disbursement of public investment has … [Read more...] about Can Tho posts three-year high economic growth

The management of Hanoi’s first metro line has allowed folding bicycles on the trains in order to provide commuters with more convenient and easier access to the public transport system. Travelers are now permitted to bring their folding bikes on board the trains of the Cat Linh-Ha Dong metro line, Vu Hong Truong, general director of Hanoi Metro Company, operator of the system, said on Sunday. Cat Linh-Ha Dong is the first-ever metro line to be put into operation in Vietnam, Truong continued, adding that several improvements still need to be made during the operation of the system. Being the only metro route in Hanoi now, it has yet to be connected with other forms of public transportation, thus allowing folding bikes on the trains will provide commuters with easier access to the metro line. Folding bikes are usually compact and light and will not take up too much space, Truong elaborated. However, the operator will deny service to passengers if their vehicles are too big … [Read more...] about Passengers allowed to carry folding bicycles on Hanoi’s first metro line