Shortage gaming in supply chain

Answers arrive to salvage construction, illustration photo/ freepik.com Earlier this month, a handful of domestic construction contractors including Delta Group, Vinaconex Corporation, CIENCO4, Eurowindow, and Phuc Hung Holdings proposed to the Vietnam Association of Construction Contractors (VACC) and the government to urge for a swift response from local authorities to address their problems. The VACC, likewise, also expressed its concerns over the skyrocketing prices of construction materials. “These difficulties are paralysing the construction sector, particularly in the south of Vietnam, where most localities are severely affected by the pandemic,” the association noted. According to Delta Group, the number of workers involved in projects is insufficient, affecting construction output and the progress of projects. In addition, the price increase and scarcity of input materials, such as the price of construction materials, increased by 25 per cent compared to the beginning …

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These enterprises included the GE Group, CFM International, AviaWorld LCC, Cantor Fitzgerald, Weidner Asset Management Steelman Partners, DeLong, Valero, AGP, and UPC Group. President Phuc, who has been in New York to attend the high-level debate of the U.N. General Assembly's 76th session, said that Vietnam treasures and wants to further develop its comprehensive partnership with the U.S. in a more practical, stable and long-term manner. Vietnam is determined to accelerate comprehensive and synchronous economic reforms and improve its business environment for foreign enterprises to expand their operations, he said. The State leader highly evaluated U.S. companies investing in Vietnam and shared their difficulties amid the COVID-19 pandemic. The Vietnamese Government is urgently carrying out a series of measures to put the epidemic under control, sustain supply chains, and recover production, he said. President Phuc said investment, cooperation, and experience-sharing …

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Cars have been selling very slowly in amid Covid-19 and social distancing. A gloomy future has been predicted for the automobile industry. The Vietnam Automobile Manufacturers’ Association (VAMA) reported that its member companies sold 8,884 cars in August, a sharp fall of 45 percent compared with July and 57 percent with August 2020. This was the fifth consecutive month the market saw sales decrease. August saw the lowest sales since 2015. The decline has also been reported by TC Motor, not a member of VAMA, with 2,182 cars sold in August, down by 54 percent compared with July and 60 percent with August 2020. Meanwhile, VinFast sold 2,310 cars, a decrease from the 3,782 cars in July, but it was still 1,494 cars higher than August 2020. August coincided with the seven month of the lunar year, the month of forsaken spirits, and people do not make important purchases in that month. This, plus social distancing applied in many cities and provinces, had a strong impact on the …

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The national digital transformation program says Vietnam will develop hi-technology agriculture with a focus on smart and precise agriculture, while increasing the proportion of digital agriculture in the economy. Opening the forum on digital transformation in Vietnam’s agriculture, Truong Gia Binh, Chair of the Vietnam Digital Agriculture Association (VIDA), stressed that it’s necessary to conduct strong digital transformation in e-commerce, e-payment, logistics and agriculture operations. If Vietnam can successfully do these, it will become a country with great competitive potential. “Our land is situated in the area which doesn’t need heating in winter. It allows us to harvest many crops all year round. We still develop agriculture with 2/3 of population in rural areas. Vietnam’s IT is developing rapidly. All these factors will turn Vietnam into a farm produce granary of the world,” Binh said. Deputy Minister of Information and Communications Nguyen Huy Dung said the …

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A private sector-led low-carbon economic growth model can enable Vietnam’s goal of becoming a high-income country by 2045. As Vietnam fights another wave of Covid-19, accelerating the pace of reforms, upgrading workforce skills and infrastructure will strengthen the private sector to help the country recover from the pandemic and unlock its potential, according to a new World Bank Group report. A manufacturing facility in Hanoi. Photo: Nguyen Viet The Vietnam Country Private Sector Diagnostic (CPSD) report, by IFC and the World Bank, says while the private sector has played a frontline role in Vietnam’s outstanding development in recent years, it’s now time to fully exploit the potential of the private sector to boost productivity growth so Vietnam can achieve its goal of becoming a high-income country by 2045. “The private sector has helped propel Vietnam to join the ranks of middle-income economies in just one generation, and the country was preparing for …

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Many smaller companies are struggling to keep up with insurance payments while halting production. Photo: Le Toan Nguyen Khanh Trinh, chairman of digital advertising service provider CleverGroup, has voiced his impatience about insurance expenses. “CleverGroup has branches in Hanoi, Danang, and Ho Chi Minh City but despite all employees having to suspend work, the company still pays full premiums of social insurance, health insurance, and unemployment insurance for them," Trinh said. These premiums cost CleverGroup thousands of US dollars. "If a small- or medium-sized group like us cannot arrange the cash flow for at least three months in advance, they may go bankrupt,” Trinh said. “The problem is that businesses have to pay full fees for insurance, and they will be fined for delays in payment, while employees having to temporarily stop work due to the pandemic are not receiving unemployment insurance,” he added. CleverGroup is just one example. Last week, 11 business …

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Inside a Ford’s plant in the northern province of Hai Duong. — VNA/VNS Photo Tran Viet There is plenty of room for Viet Nam to lure investment from the United States especially after the visit of US Vice President Kamala Harris to Ha Noi in late August, said Nguyen Van Toan, Vice Chairman of the Association of Foreign Investment Enterprises. Online newspaper congthuong.vn cited Toan as saying that during her visit, Vice President Kamala Harris said that the US Government would continue to promote bilateral co-operation with Viet Nam on economy, trade and science and technology. Over recent years, many US investors visited Viet Nam to learn about the country's investment environment, Toan said, mentioning a large amount of US investment into Viet Nam via a third country. According to the Ministry of Planning and Investment's Foreign Investment Agency (FIA), there remained untapped opportunities for Viet Nam and the US to cement and then foster two-way co-operation. The …

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