Thua Thien - Hue grants investment licences to nine projects in the first five months of 2023. (Photo: VNA) Hanoi (VNS/VNA) - Since the beginning of the year, nine new projects have been granted investment licences by central Thua Thien - Hue province with a total investment of more than 2 trillion VND (85 million USD), according to a report by the provincial Department of Planning and Investment. Of the total investment, five are FDI projects with registered capital of 28.5 million USD. The growth rate of the province’s GRDP in the first quarter is estimated at 6.61%, higher than the national average of 3.32%, and is expected to increase from 7.5% to 8.5% in the second quarter, a representative of the department said at the recent regular meeting. Import and export turnover in May rose month-on-month but decreased over last year. Many industrial production sectors, such as textiles, garments, cement, wood chips, and power generation, have slowed down. Especially, … [Read more...] about Thua Thien – Hue grants investment licences to nine projects
2021 ngtl system expansion project
Core business key as companies pull out of real estate
In early April, the Board of Directors at Nam Viet JSC, a seafood producer in the southern region, gave the nod to the decision on dissolving Nam Viet Real Estate Co., Ltd. This company, based in Long Xuyen city in the Mekong delta province of An Giang, was founded in March 2022 to operate in real estate. Real estate might not always prove a fertile venture At the inception, the company had $3.5 million in chartered capital, which was scaled down to around $391,300 in mid-June 2022 before terminating operation in the recent past. At the company’s 2022 general annual shareholders meeting in June, CEO Doan Toi told shareholders that the company owned land, and that they would unveil two real estate projects later in the year, and another two in 2023. Last year, Nam Viet set an ambitious pre-tax profit target of VND1 trillion ($43.4 million) compared to a mere $6.5 million pre-tax profit posted in 2021, and committed to maintaining its profit in the range of a … [Read more...] about Core business key as companies pull out of real estate
F&B more robust with boom in low-end market
Recently, Mixue, a Chinese chain of fresh ice cream and tea stores focusing on the low-end market and Generation Z, announced it had reached 1,000 stores through franchising after nearly five years of operation in Vietnam – a scale that no F&B brand had ever reached. Despite the global economic slowdown, top-of-mind F&B brands expanded their chains after the Covid-19 pandemic. As of February, Highland Coffee had around 600 stores, an increase of 63.5% compared to March 2021. Trung Nguyen E-Coffee nearly doubled its stores from 308 in March 2021 to 620 in February 2023. Phuc Long, after receiving the capital from Masan Group, expanded rapidly to more than 900 stores, including 132 flagship stores and more than 770 kiosks at WinMart/WinMart , compared to just 80 stores in March 2021. According to a report about the F&B market by iPOS.vn, the F&B market saw a considerable recovery after the COVID-19 pandemic to reach a revenue of VND610 trillion in 2022, up … [Read more...] about F&B more robust with boom in low-end market
Red River – a centerpiece in Hanoi’s green development
The vision is for Hanoi to become a vibrant, green, and serene metropolis with the Red River landscape axis. "For a long time, people often say that Hanoi has turned its back on the Red River," Nguyen Van Loc, a 60-year-old resident of Phuc Tan Ward, Hoan Kiem District, told The Hanoi Times as he gazed out at the vast expanse of lush green land ahead, with thriving banana plantations growing on the fertile alluvial plains known as the Red River Alluvial Island (or Bai giua song Hong in Vietnamese). The Middle Island of the Red River. Photo: Chien Cong/The Hanoi Times Spanning around 18 hectares and stretching 3.8 kilometers in length, the area is under the jurisdiction of Chuong Duong and Phuc Tan wards, Hoan Kiem District. For many years, a significant portion of the alluvial island has been tilled by over 30 households for vegetable production. However, there is still a portion of the land that remains vacant and covered with overgrown reeds. "It is … [Read more...] about Red River – a centerpiece in Hanoi’s green development
Norway strengthens support to Vietnam’s sustainable marine aquaculture
Norway has helped Vietnam develop the first Fisheries Law, supported surveys of aquatic resources, and capacity-building projects in the fisheries sector for nearly 40 years. Norwegian partners have intensified their support of Vietnam’s sustainable marine aquaculture through efforts that share expertise from a world-leading producer and exporter of seafood. The seminar on June 5 in the central coastal province of Khanh Hoa is the latest move in the process in which the ocean nation has supported Vietnam over the past four decades . Indeed, the event aims to create a platform for participants from the public, private sectors, and academia to discuss ways for Vietnam to develop marine aquaculture in a sustainable manner and the role of relevant stakeholders in that process. The seminar was organized by the Norwegian Embassy in Hanoi, Innovation Norway, Hanoi, in coordination with the Department of Fisheries (DFish) of the Vietnamese Ministry of Agriculture and Rural … [Read more...] about Norway strengthens support to Vietnam’s sustainable marine aquaculture