Profitability vs revenue growth

Vietnam exports nearly 2.77 million tonnes of milled rice in the first five months of 2022. (Photo: VNA) Hanoi (VNA) – As many countries in the world have limited food exports to guarantee domestic food security , rice – a staple in most of Asia – is forecast to witness surging prices in the time ahead, which is said to be a chance for Vietnam – one of the world’s largest rice exporters. Vu Thi Hue, head of the export - import division of the Dai Duong Xanh Export - Import Co. Ltd, said while lower wheat output and higher production costs have forced many countries to seek alternatives, rice is a suitable choice with good prices. So a bright prospect could be seen for both export volume and prices in the time ahead. In the first five months of 2022, nearly 2.77 million tonnes of milled rice worth over 1.35 billion USD were shipped abroad, rising 6.6% in volume but declining 4% in value year on year, according to preliminary data from the General Department of Vietnam … [Read more...] about Bright outlook predicted for rice exports

Hanoi (VNA) – The Vietnam Report JSC on July 1 announced the lists of Top 10 most prestigious life and non-life insurance companies in Vietnam in 2022. Accordingly, the 10 prestigious life insurance companies included Bao Viet Insurance, Dai-Ichi Vietnam , AIA Vietnam, Prudential Vietnam, Chubb Vietnam, MB Ageas, Hanwha Life Vietnam, Manulife Vietnam, Generali Vietnam, and Cathay Vietnam. Meanwhile, the top 10 non-life insurance companies in 2022 are Bao Viet Insurance, Posts and Telecommunications Joint Stock Insurance Corporation (PTI), PVI Insurance, Petrolimex Joint Stock Insurance Company (PJICO), Military Insurance Corporation (MIC), BIDV Insurance Corporation, Bao Minh Joint Stock Corporation, VietinBank Insurance Company, Agriculture Bank Insurance Joint Stock Corporation and Saigon-Hanoi Insurance Corporation. Based on the reputation of insurance companies, Vietnam Report made assessments objectively and independently on the foundation of their financial … [Read more...] about Top 10 prestigious insurance firms in 2022 announced

The five-day visits of Vietnam’s National Assembly Chairman Vuong Dinh Hue to Hungary and the UK marked a new milestone in bilateral relations, eventually contributing to the Vietnam-EU partnership. The Chairman’s official visit to Hungary was significant amid the 72nd anniversary of diplomatic relations and approaching the five-year mark of the comprehensive partnership (2018 – 2023). In addition, Hungary was Vietnam’s first comprehensive partnership in Central and Eastern Europe, as the former has been actively supporting Vietnam in both multilateral frameworks and also in Vietnam-EU relations. NA Chairman Vuong Dinh Hue and Hungarian Prime Minister Viktor Orban. Source: VNA It was noted worth mentioning that Hungary was the first among EU members that ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA). Chairman of the NA’s Foreign Affairs Committee Vu Hai Ha said meetings between Chairman … [Read more...] about New milestone in Vietnam’s relations with Hungary, UK

Vice Chairwoman of the HCMC People’s Committee Phan Thi Thang visits a display booth of Nghe An Province's local products. (Photo: SGGP) Attending the event was Deputy Minister of Culture, Sports and Tourism Doan Van Viet, head of Vietnam National Administration of Tourism (VNAT) Nguyen Trung Khanh, Chairman of the People’s Committee of Nghe An Province Nguyen Duc Trung, Vice Chairwoman of the HCMC People’s Committee Phan Thi Thang and Deputy Chairman of the People’s Committee of Hanoi Nguyen Manh Quyen, leaders of provinces and travel businesses. The event aims to promote potential and the value of natural resources for tourism of localities as well as exploit trans-provincial and trans-regional tourism products, affirming the country's position on the world tourist map. The forum is the city’s 6th tourism development cooperation program promoting the linkage in tourism between HCMC and eight cities, provinces in the Northwest region , 13 Southern provinces and cities , … [Read more...] about HCMC, north central provinces boost linkage for tourism development

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

On June 29 in Dong Nai, USAID and the Enterprises Development Agency under the MPI organised the workshop themed “Improving packaging technology and design to enhance competitiveness and efficiency”. At the workshop, businesses were updated on information about the latest design technology. Besides this, they received support to design suitable packages with their products to increase their value. One day earlier in Ho Chi Minh City, the two parties also organised a training workshop on the reduction of greenhouse gas emissions and initial solutions for businesses. Rasmus Nedergaard, an expert on sustainable strategic planning, introduced proactive solutions to reduce emissions for businesses. Other experts also introduced updated information on carbon markets, carbon trading, and existing solutions in Vietnam. The two workshops were part of the Vietnam Private Sector Competitiveness Enhancement Project (USAID IPSC) with a total budget of $36 million, which is currently … [Read more...] about USAID cooperates with MPI to ready enterprises for the future

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