Target 3 billion

Billion-dollar strategy While visiting THACO Chu Lai Industrial Zone at the end of March 2022, Prime Minister Pham Minh Chinh assigned THACO three essential tasks, one of them being to continue developing the mechanical industrial zone to meet foundation industries requirements. To carry out this task, Supporting Industrial and Mechanics Corporation - THACO Industries (under THACO Group) has continued to invest in expanding its scale, improving production capacity, boosting exports, and setting a target revenue of $1 billion by 2025, of which export is $500 million. THACO Industries factory in Chu Lai Industrial Zone. Photo by THACO Industries THACO Industries has identified 2022 as the hinge year for establishing the foundation for a leap forward in mechanical and supporting industry business. The company has set out a comprehensive plan, from investing in core technology, and developing diversified products to digitalizing management... aiming to reach the … [Read more...] about THACO eyes revenue target of $1 bln in 2025

Billion-dollar strategy While visiting THACO Chu Lai Industrial Zone at the end of March 2022, Prime Minister Pham Minh Chinh assigned THACO three essential tasks, one of them being to continue developing the mechanical industrial zone to meet foundation industries requirements. To carry out this task, Supporting Industrial and Mechanics Corporation - THACO Industries (under THACO Group) has continued to invest in expanding its scale, improving production capacity, boosting exports, and setting a target revenue of $1 billion by 2025, of which export is $500 million. THACO Industries factory in Chu Lai Industrial Zone. Photo by THACO Industries THACO Industries has identified 2022 as the hinge year for establishing the foundation for a leap forward in mechanical and supporting industry business. The company has set out a comprehensive plan, from investing in core technology, and developing diversified products to digitalizing management... aiming to reach the … [Read more...] about THACO Industries targets revenues of $1 bln by 2025

The General Department of Vietnam Customs reported that as of mid-July, garment-textile was one of the four sectors posting the highest export revenue, with a record of over 20 billion USD, up nearly 20% year-on-year. Garment-textile was also among the six groups whose export value increased by over 1 billion USD. Vietnamese garment-textile products were shipped to 55 countries and territories worldwide, including 17 markets with a turnover of more than 100 million USD each. The US, Japan, the Republic of Korea and Canada were among major buyers of the Vietnamese products. Earlier, the Vietnam Textile & Apparel Association said textile-garment producers target to earn up to 21 billion USD from exports in the second half of this year, raising total shipments of the year to around 43 billion USD./. VNA … [Read more...] about Garment-textile exports set to hit 45.7 billion USD this year

Its only store now in HCMC’s Go Vap District reported sales of VND1.6 trillion ($68.5 million) last year. "With 20 stores, our revenues could reach VND32 trillion [$1.37 billion], so a billion dollars is not a difficult target," Duong said. S.Korea-owned E-mart entered Vietnam in 2015 and its local operations were acquired by automaker THACO last year under a franchise deal. At least 20 stores must be opened by 2026 under the franchise agreement. "Two or three new supermarkets will have to be opened each year," Duong said. Two new stores will be opened this year, both in HCMC: a second in Go Vap District and the other in Thu Duc City. Districts 7 and Binh Tan are possible locations for future expansion, the chairman added. … [Read more...] about THACO eyes billion-dollar sales for supermarket chain

The R&D center in Hanoi, scheduled to be completed by late 2022, would be Samsung’s major R&D hub not only in Vietnam but also the whole of Southeast Asia. Samsung is expected to expand investment in Vietnam with an additional fund of US$3.3 billion, along with an export target of US$69 billion from its manufacturing facilities in the country. Prime Minister Pham Minh Chinh (r) and Samsung CEO Roh Tae-Moon. Photo: Nhat Bac Samsung’s CEO Roh Tae-Moon mentioned the conglomerate's goals in Vietnam during a meeting with Prime Minister Pham Minh Chinh on August 5. According to Roh, Samsung Vietnam exported more than $34.3 billion worth of electronic products during the first six months of 2022, representing an increase of 18% year-on-year. Roh noted the South Korean IT giant is preparing for mass production of semiconductor components at the Samsung Electro-Mechanics Vietnam plant in Thai Nguyen Province from July 2023, and also for the launch the … [Read more...] about Samsung plans to invest US$3.3 billion in Vietnam in 2022

Illustrative image (Photo: SGGP) More than 327,000 jobs were provided for labourers in Hanoi and HCMC – Vietnam’s two largest cities – in the first seven months of 2022. According to Hanoi’s Department of Labour, Invalids and Social Affairs, 137,300 labourers were offered jobs in the capital city in the period, equal to 85.8 percent of the yearly target, and up 23.2 percent year-on-year. In July alone, the city provided jobs for 18,400 people, a y-o-y surge of 35.4% compared to the same period last year. During January-July, more than 35,500 people enjoyed unemployment insurance allowances, with a total capital of VND932.7 billion (US$39.9 million). Meanwhile, HCMC provided jobs to 26,790 labourers in July, raising the total number in the first seven months of this year to over 189,700, up 11.1 percent y-o-y, according to the municipal Department of Labour, Invalids and Social Affairs. Vietnamplus … [Read more...] about Hanoi, HCMC provide jobs for over 327,000 labourers during Jan-Jul

The project aims to support about 5,000 poor and vulnerable women in nine provinces and cities, including Hanoi, Da Nang, Dien Bien, Ha Tinh, Ho Chi Minh City, Tien Giang, Nghe An, Thai Binh and Lao Cai. The priority targets are women at risk of violence, those with disabilities, migrant workers, ethnic minorities, people working in the informal sector and those living in disaster-prone areas. Apart from receiving the COVID-19 prevention kits, which include test kits, medical masks and anti-bacteria gel, the beneficiaries will also be equipped with the necessary skills to prevent and respond to COVID-19, disasters, gender-based violence and information about the available support services. Women survivors of gender-based violence at shelters and the Peace House will be supported in COVID-19 medical examinations and treatment. The project is a part of a nearly 20-billion-VND (855,800 USD) regional project implemented in four Mekong countries, namely  Cambodia, Laos, Thailand and … [Read more...] about U.N. Women, Japan launch project to reduce COVID-19 impacts on women and girls

At the Government’s monthly meeting held in Hanoi, the Ministry of Finance reported that nearly 186.85 trillion VND (7.98 billion USD) of investment capital sourced from the state budget had been disbursed as of July 31, equivalent to 34.47% of this year’s target, down slightly from the same period last year. Some central agencies and 11 provincial-level localities recorded a disbursement rate of over 50%. Meanwhile, 41 of the 51 ministries and central agencies, and 18 of the 63 localities, saw a rate below the nationwide average of 34.47%. PM Chinh said the disbursement of public investment is a difficult task, so it has been continually prioritized by the Government. Over the last five years, the seven-month disbursement rate often stood at around 35 - 40%. It was relatively high in 2020 and 2021. But this year, apart from medium-term investment capital, funding for the socio-economic recovery and development program also needs to be disbursed. Therefore, strong … [Read more...] about PM demands stronger action to disburse public funds

Second Secretary of the Embassy of Japan in Vietnam Sasaki Shohei (first, right), Country Representative of UN Women Vietnam Elisa Fernandez Saenz (centre), and Chairwoman of the Da Nang Women’s Union Hoang Thi Thu Huong pose for a photo at the launch of the project to reduce the risks and negative impacts of COVID-19 on women and girls in Hanoi on August 2. (Photo: VNA) Hanoi (VNA) – UN Women Vietnam and the Embassy of Japan on August 2 announced a one-year project to reduce the risks and negative impacts of COVID-19 on women and girls . The project aims to support about 5,000 poor and vulnerable women in nine provinces and cities, including Hanoi, Da Nang, Dien Bien, Ha Tinh, Ho Chi Minh City, Tien Giang, Nghe An, Thai Binh and Lao Cai. The priority targets are women at risk of violence, those with disabilities, migrant workers, ethnic minorities, people working in the informal sector and those living in disaster-prone areas. Apart from receiving the COVD-19 … [Read more...] about UN Women, Japan launch project to reduce COVID-19 impacts on women and girls

Gas supply system of PV Gas Ca Mau. PV Gas (GAS) topped the list of shares lifting the VN-Index most with a growth of 3.5 per cent. — VNA/VNS Photo Huy Hung Shares climbed for a third day this week on stronger cash flow but divergence is also expanding during the earnings season. The VN-Index on the Ho Chi Minh Stock Exchange increased 0.66 per cent to close Wednesday at 1,249.76 points, lifting its gain this week to 3.6 per cent. On the Ha Noi Stock Exchange, the HNX-Index added 0.77 per cent to close at 298.11 points. The northern market’s index has gained 3.3 per cent in the past three days. Liquidity remained positive with 877 million shares worth VND19.3 trillion (US$833 million) being traded in the two markets. Especially, trading value in HCM City’s exchange hit a 50-day high of VND17.6 trillion. “The market’s uptrend is prolonged due to the positive spread of cash flow,” said Phuong Pham, a stock analyst at Viet Dragon Securities Co in a daily report. “However, … [Read more...] about Shares climb for third day on strong cash flow