Why developments fueled industrialization

The positive results posted by Vietnamese manufacturers in support industries over the last 20 years have come mostly on the back of the development of the local motorcycle industry. Despite the government’s policies to limit the number of vehicles on Vietnam’s streets, there have been many opportunities in place for manufacturers to grow, according to Ms. Truong Thi Chi Binh, Vice Chairwoman and Secretary General of the Vietnam Association of Supporting Industries (VASI). “They are willing to be involved further in automobile support industries once volumes in the industry are sufficiently large, along with government support in terms of policies,” she said. Bright side The Export Mechanical Tool JSC (EMC), the Nhat Quang Steel Limited Company, and the Manh Quang Mechanics Co. - three of VASI’s 224 members - have posted good results from the flourishing motorcycle market. Reaching 3.38 million local and imported vehicles in 2018, Vietnam stood behind … [Read more...] about Auto support industries falling short

  Visitors look at processed farm produce on display at the Việt Nam International Exhibition on Processing, Packaging and Preserving Food and Agricultural Products held in HCM City. — VNS Photo Xuân Hương HCM CITY — Việt Nam’s agro-forestry and fishery processing industry has bright prospects in both export and domestic markets, but needs further measures to tap its potential, according to the Agro Processing and Market Development Authority. Speaking at a conference in HCM City on Wednesday, Nguyễn Quốc Toản, the authority's director, said: “The domestic agro-forestry and fishery processing industry had an annual growth rate of 5-7 per cent over the past 10 years, creating a system with total processing capacity of about 120 million tonnes of farm produce materials a year." The country is home to over 7,500 enterprises involved in agro, forestry and fishery processing on … [Read more...] about Farm produce processing industry urged to tap potential

  Officers of Cốc Nam Customs Department in Lạng Sơn Province, which shares a border with China, perform a check on imported products. — VNA/VNS Photo Hoàng Hùng HÀ NỘI — Economic and trade relations between Việt Nam and China have been developing in a positive direction, as shown by the continuous increase of bilateral trade turnover between the two countries. Việt Nam is fast becoming an attractive investment destination for Chinese enterprises. According to the Foreign Investment Agency under the Ministry of Planning and Investment, China invested about US$1.6 billion in Việt Nam in the first fourth months of this year, making it the country’s fourth largest source of foreign investment. Several large projects were funded by Chinese investors in the period including a tire manufacturing project with total registered capital of $280 million in the southern province of Tây Ninh and another tire … [Read more...] about Việt Nam, China trade ties continue to develop

Hanoi plans to roll out additional busses fuelled by compressed natural gas (CNG) in the third quarter.(Photo: hanoimoi.com.vn) Hanoi (VNA) – Hanoi plans to roll out additional busses fuelled by compressed natural gas (CNG) in the third quarter to ease traffic congestion and lessen environmental pollution, the municipal Department of Transport’s Public Transport Management and Operation Centre said. The buses will run on four routes of Kim Lu (Soc Son district)- Nam Thang Long (Bac Tu Liem district), Cau Giay-Tam Hiep (Thanh Tri district), Nhon (Bac Tu Liem district)- Tho An (Dan Phuong district), and Yen Nghia (Ha Dong District)- Hoai Duc. This is part of the  project to enhance public transport service quality and develop bus system in the capital city during 2016-2020 with vision until 2025. The city first put into use CNG-fueled buses in three routes in August last year. According to the centre, CNG has many advantages. As it consists mostly of … [Read more...] about More eco-friendly buses to run on Hanoi streets

Workers of Minh Phú Hậu Giang Seafood JSC, a member of Minh Phú Seafood Corporation, at Hậu Giang Industrial Zone in the southern province of Hậu Giang prepare goods for export. Việt Nam hit US$9 billion in total export value of seafood products this year, a year-on-year increase of 8.4 per cent. — VNA/VNS Photo Vũ SinhViet Nam News HÀ NỘI — The Ministry of Agriculture and Rural Development said yesterday the total export value of forestry and seafood products reached a record high at about US$18 billion this year. Việt Nam gained $9 billion in total of seafood products this year, a year-on-year rise of 8.4 per cent, said Nguyễn Quang Hùng, deputy director of the ministry’s Directorate of Fisheries. He was speaking at a conference on production and business of the fishery industry this year and tasks in 2019 held in Hà Nội yesterday by the general department. The meeting heard how … [Read more...] about Forestry, seafood export reaches record high