Demand for industrial, logistics estates at core of enquiries next year: Savills Demand for industrial and logistics estates in addition to ready-built factories and warehouses will continue to be the core of enquiries next year, according to an expert from property consultancy Savills Vietnam. “However, in terms of new trends, data centres and cold storage facilities are in demand and have gained traction in 2020 and 2021,” John Campbell, manager of Industrial Services at Savills Vietnam told the Vietnam Investment Review. “Next year, we expect this to continue, as Vietnam is now on the radar for hyperscale facilities.” Low-value industries are beginning to set up elsewhere in Southeast Asia as Vietnam no longer offers the same incentives, he said, adding that these industries such as textiles and furniture struggle to source affordable labour and land in Vietnam. However, foreign and high value-added investors remain bullish on Vietnam’s long-term growth, …
Ministry takes action as market sets up new price levels
It was recorded on November 23 in Ho Chi Minh City that some products and many services set new price levels. Prices of vegetables at supermarkets are much higher than those at the beginning of November. (Photo: SGGP) Many essential products' prices have risen by about 15 percent At some markets in District 12 and Hoc Mon District, the prices of fresh vegetables and fruits increased slightly from VND3,000 to VND5,000 per kg. For example, Can Tho head mustard edged up to VND19,000 per kg; oranges rose to VND40,000 per kg; Dalat bananas went up to VND21,000 per kg. Seafood, pork, and chicken also rallied by VND5,000-VND10,000 per kg, depending on the type. For instance, red tilapia is currently priced at VND60,000-VND65,000 per kg; free-range chicken fetches VND60,000-VND70,000 per kg. According to Deputy Director of HCMC Department of Industry and Trade Nguyen Nguyen Phuong, the department has organized the "focused promotion program in 2021 from November 15 to …
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Europe–Asia meet through contemporary dance
PANO - The “6 th Europe-Asia meet: contemporary dance,” the biggest international festival for contemporary dancers, will be held in Hanoi and Ho Chi Minh city from September 24 to 27. The show will take place from September 24 to 27 in HN and HCMC According to a representative from the Goethe Institute, the festival’s organizer, contemporary dancers from Germany, France, Israel, Japan, Austria and Vietnam will have performances featuring both real and imaginative ideas and a deep exploration of the soul of contemporary people. All performances are staged with light and multi-media installations. Translated by Chung Anh …
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President co-chairs Vietnam – Switzerland Business Forum
Vietnamese President Nguyen Xuan Phuc (standing) speaks at the forum. (Photo: VNA) Bern (VNA) - Vietnamese President Nguyen Xuan Phuc and his Swiss counterpart Guy Parmelin co-chaired a Vietnam - Switzerland Business Forum in Bern on November 26. Addressing the forum with the attendance of representatives from over 100 businesses of the two countries, the Vietnamese leader called on Swiss businesses to invest in Vietnam and partner with Vietnamese enterprises in areas where Swiss firms have strengths and Vietnam is giving priority to, especially in banking and finance, science and hi-technology, innovation and digital transformation. For his part, President Parmelin highlighted the huge potential for stronger cooperation between the two countries, and the necessity to have new cooperation framework s to encourage Swiss businesses to invest in Vietnam. The interest and commitment of businesses and representatives of the private sector of Switzerland at the forum …
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Employers from hell: Vietnamese domestic workers’ tales of abuse in Saudi Arabia
On the September 3 flight that brought the Vietnamese football team home from the Saudi capital Riyadh, there were also women domestic workers who had been stuck for months in a deportation center. One of them was Lang Thi Thu, an ethnic Thai from Con Cuong, Nghe An Province. Thu had gone to Saudi Arabia in 2017 on a two-year contract. However, after the contract expired, she continued to work for her employer to earn enough money to build a house for her family. During her six years as a domestic worker, she had no days off and had to work from 9 a.m. to 4 a.m. Thu says: "I asked my employer to let me go home, I wanted a break to go home since my limbs had become numb; I could not feel them any more." But after many unsuccessful requests, she decided to run away and complain to the police. However, under the abusive Kafala sponsorship system that governs migrant workers in Saudi Arabia, people like Thu do not have the right to quit or change jobs, except in certain special …
Vietnam’s global commitments force ministry to reconsider electricity projects
The latest draft of the eighth national power development plan in 2021-2030 shows considerable reductions in coal-fired power and increases in wind power, following Vietnam’s strong commitments at COP26. The eighth plan still has not been issued after many debates. The draft plan continues to be amended after Vietnam made strong commitments at COP26 on the goals and ambitions in obtaining Net Zero by 2050. Because of the commitments, the Ministry of Investment and Trade will have to reconsider the country’s electricity generation sources. In an operating scenario released by the Ministry of Industry and Trade (MOIT) in November, the total capacity of power sources to be installed by 2030 is 155,722 MW, lower by 24,305 MW than the 180,027 MW shown in March scenario. With the scenario, coal-fired electricity capacity would decrease by 6,694 MW, while LNG-fired electricity by 18,550 MW and Vietnam would increase electricity capacity from wind power. Onshore wind power …
Seven commodities with export value hitting over US$10 billion each
Vietnam has boasted seven commodities with an export turnover exceeding US$10 billion each as of November 15 following the post-pandemic resumption of various businesses. Iron and steel products record strong export growth by mid-November. The first two weeks of November saw Vietnam rake in US$14.61 billion from exports, raising the country’s total export value since the beginning of the year to US$284.45 billion, a year-on-year increase of 17.7%. Most notably, iron and steel joined the US$10-billion export product club for the first time, alongside six other groups of commodities, namely phones and components, computers, electronic products and components, machinery, garments and textiles, footwear, and timber and wood products. Among the key hard currency earners, phones and computers recorded the highest earnings of US$48.8 billion and US$43 billion respectively, while machinery and equipment ranked third with turnover of US$31.77 billion. They were followed by …
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FTAs momentum for Vietnam’s exports
Since joining the World Trade Organisation 15 years ago, Viet Nam has become a part of 17 FTAs, which are either under negotiation or underway. This has helped create a momentum for the country's exports. Viet Nam’s total export-import value rise from $84.7 billion in 2006 to $545.3 billion in 2020. Workers make shoes for export. Now, the Ministry of Industry and Trade (MoIT) is enhancing the formation of a portal that will make accessing information on the current and upcoming FTAs easier for Vietnamese businesses. Ngo Chung Khanh, Deputy Director of the MoIT’s Multilateral Trade Policy Department, said that 2021 has been a difficult year for businesses and the wider economy, but there is still hope for the future. He mentioned export turnover as an example, in which traditional markets like China and other ASEAN countries were supplemented by the US and other countries that Viet Nam has signed Free Trade Agreements with. Thanks to two newly-signed FTA's, …
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Garment and textile exports likely to reach US$38 billion this year
With export turnover surging by 11% to reach approximately US$32 billion during the past 10 months of the year, the local garment and textile industry is anticipated to rake in roughly US$38 billion this year. The Vietnam Textile and Apparel Association (Vitas) predicts that the country’s garment and textile exports will reach US$3 billion per month during the remaining two months of the year. Experts pointed out that the implementation of prolonged social distancing measures in several southern provinces during the fourth wave of the COVID-19 pandemic has served to reduce the sector’s capacity by half, thereby greatly impacting both domestic and international supply chains. However, with social distancing measures being relaxed from the beginning of October, garment textile production activities, especially in Ho Chi Minh City and other southern provinces, have bounced back as the rate of workers returning to factories now stands at over 90%. Moving forward, yarn exports are …
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Vietnam Airlines aims to win largest share on direct Vietnam-US route
Vietnam Airlines wide-body Boeing 787-9 Dreamliner (Photo courtesy of Vietnam Airlines) Hanoi (VNS/VNA) - Vietnam Airlines, the country's national flag carrier, looks to dominate the Vietnam-US route as preparations have been completed for its first direct flight to the US, which is scheduled to take off on November 28, said General Director of Vietnam Airlines Le Hong Ha. The Vietnam-US route was among one of the most in-demand pre-pandemic. There were 24,000 Vietnamese university students and a 2.2 million strong Vietnamese community in the US in 2020. Two-way trade has been on the rise in recent years reaching 90 billion USD in 2020 and projected to hit over 100 billion USD this year, making the Southeast Asian economy one of the US’s top trading partners. As a result, the airline is confident demand will quickly recover once the pandemic is put under control and mobility restrictions relaxed, Ha said. Competition, however, is expected to be fierce as the …
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