New supply chain

A worker at a factory of Hung Viet Garment JSC (Photo: VNA) Hanoi (VNS/VNA) - Textile and garment export turnover in the first six months of 2022 is estimated to increase 23% on-year to about 22 billion USD, reaching the highest level ever, according to the Vietnam Textile and Apparel Association. Of which, the US market played an essential role for the industry. Data from the General Department of Customs of Vietnam showed that textile and garment export s in the first five months of 2022 to the US market increased by 26% over last year to 7.58 billion USD, accounting for 57% of the total value of Vietnam’s textile and garment exports. The newly updated report by Viet Dragon Securities JSC (VDSC) said that these figures imply that the prospects of the country’s textile and garment industry will depend heavily on economic development s in the US market. However, in the second half of 2022, VDSC forecasts that the demand for textiles and garments will tend to decrease … [Read more...] about Textile enterprises’ results mixed in second half of 2022

Elon Musk's enterprise delivered 254,695 vehicles from April to June, it said in a statement. That's 27 percent more than the same period a year ago but down 18 percent from the January-to-March quarter of 2022 and the first such decline in more than two years. This marks a disappointment for a company that says it is posting strong growth, touting the opening of two new factories this year, in Germany and Texas. The drop in deliveries was bigger than that anticipated by analysts, who had expected 264,000 vehicles to be handed over to buyers, according to FactSet, a financial data and software company. Tesla warned in April that supply chain snarls hitting the auto industry in general would keep disrupting the company's production until the end of the year. Still, it delivered a record number of cars in the first quarter of 2022. But in the second quarter Tesla had to grapple with the closure of its Shanghai factory for several weeks because of strict lockdown measures in … [Read more...] about Tesla deliveries fall with temporary closure of China factory

Speakers in the workshop in Quy Nhon city (Photo courtesy of the organiser) Binh Dinh (VNA) – A workshop recently took place in Quy Nhon city, central Binh Dinh province, to discuss the improvement of awareness in plastic waste collection and recycling to promote the circular economy in Vietnam. The event was held by PepsiCo Vietnam , the Centre of Education and Development (CED), and the Vietnam Chamber of Industry and Commerce (VCCI) - Da Nang branch. It was part of the “Increase awareness in plastic waste management” project funded by PepsiCo Foundation through Give2Asia and implemented by CED in collaboration with partners in Vietnam from January 2020 to December 2022. One of this project’s objectives is to raise awareness of small and medium enterprises (SMEs) in Vietnam through plastic waste collection and treatment management in order to apply a circular economy model for sustainable business development. The workshop saw the participation of 70 delegates … [Read more...] about Workshop discusses plastic waste collection, recycling

The ceremony to sign the deal was held at the Intercontinental Landmark Hotel in Hanoi, and attended by executives from both companies, including Samsung Engineering Executive vice president GyuYeon Kang and DNP Water chairman Ngo Duc Vu. With this acquisition, Samsung Engineering holds a 24 percent stake in DNP Water, DNP Holding owns 53 percent and other stakeholders have 23 percent. DNP Water is a private enterprise that focuses on water supply business in Vietnam and is the largest private water treatment company in terms of capacity. It was spun off from the DNP Group, a manufacturer of plastic pipes, in 2017. Since then it has been growing in the water treatment business by buying private water supply assets and developing new businesses. (From L) Nguyen Van Hieu, DNP Holding CEO, Kang Gyu-yeon, Samsung Engineering EVP and Ngo Duc Vu, DNP Water Chairman at the signing ceremony. Photo by Samsung Engineering The Asian water treatment market is shifting from … [Read more...] about Samsung Engineering acquires stake in water treatment company

Land split into lots for sale. The real estate market was slowing down on the tightening of credit flow into certain segments.-VNA/VNS Photo In recent years, land prices increased rapidly despite the impact of the COVID-19 pandemic. According to a report by the Department of Housing and Real Estate Market Management under the Ministry of Construction, land prices, especially in localities planning or developing infrastructure saw whopping increases. The moves to control credit flow into the real estate sector and land lot split were cooling the market, with falling liquidity but prices staying at high levels. A report by real estate portal batdongsan.com.vn showed that searches for property on sale via the portal in the first five months of this year dropped by 11 per cent against the same period last year. Nguyen Quoc Anh, deputy director general of batdongsan.com.vn, said the market was slowing down significantly with interest in buying a property decreasing by 9 per … [Read more...] about Real estate market slowing down, experts divided on bubble risk

Capital Place, a Grade A office building (left) in Hanoi. Office real estate market will receive more Grade A office building projects due to increasing demand. (Photo baodautu.vn) Hanoi (VNS/VNA) - Office real estate is thriving, with new Grade A buildings entering the Hanoi market at the end of the year, according to Savills Vietnam. By the end of 2022, six new projects are expected. The only Grade A building will be Techcombank Tower on Quang Trung street. This project follows the opening of another international Grade A building , Capital Place . “Tenants can pick from a variety of new high-quality Grade A properties entering soon, mostly in Hoan Kiem, Ba Dinh and Tay Ho districts. New properties will compete with existing buildings in terms of quality, services and pricing," said Hoang Nguyet Minh, Senior Director of Commercial Leasing, Savills Hanoi. "Hanoi’s office supply is lower than regional peers like Singapore or Bangkok. However, the rents are … [Read more...] about Hanoi market sees strong development in premium offices

Economic value The Ministry of Natural Resources and Environment recently coordinated with the Party Central Committee’s Economic Commission and relevant units to organize a forum on sustainable development of Vietnam's marine economy in 2022 in Phu Yen Province. Deputy Minister of Natural Resources and Environment Le Minh Ngan told the gathering that marine tourism brings 70 percent of revenue to the country’s tourism industry; sea freight transport reached 85.1 million tonnes; oil and gas production reached 18.43 million tonnes (crude oil production was 10.97 million tonnes). The output of fisheries production reached 3.92 million tonnes; and aquaculture 4.805 million tonnes. Investment in infrastructure development is needed to connect dynamic coastal economic zones Investments have been poured into construction of traffic infrastructure connecting big economic urban centers and economic zones to sea ports, and linking northern with southern, eastern with … [Read more...] about Vietnam’s marine economy unleashes major potential