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The retail prices of fuel products in Vietnam were revised upward starting from 4:00 pm on Thursday, with each liter of the popular RON95 gasoline soaring nearly VND900 (US$0.03), according to the Ministry of Industry and Trade. Biofuel RON92 now sells for VND24,190 ($0.99) per liter, up around VND720 ($0.02), while the popular RON95 rose by VND870 ($0.33) per liter to VND25,740 ($1.05) from VND24,871 ($1.02). The prices of oil products were also adjusted up. Diesel oil is offered at VND23,590 ($0.97) per liter, up VND540 ($0.02). The price of kerosene is capped at VND23,810 ($0.97) per liter, rising VND630 ($0.02) while that of heavy fuel oil is VND17,840 ($0.73) per kilogram, inching up VND140. During this fuel price adjustment, the ministry decided to tax each liter of most oil and petrol products sold by VND300 to replenish the national fuel price stabilization fund, except for heavy fuel oil. The domestic retail prices of petrol products have been adjusted 26 times … [Read more...] about Vietnam sees sharp hike in petrol prices

How much will Japan work with Vietnam and ASEAN to help with the energy transition? Kinoshita Tadahiro, director general of Sojitz Vietnam and president of the Japanese Chamber of Commerce and Industry in Vietnam We highly appreciate the government and related ministries for the national green growth strategy, as well as the action plan on green energy transition and reducing carbon and methane emissions of the transportation sector. Completing the legal framework is an important factor to achieving this goal. In the context of increasing energy demand in Asian countries, the Japanese government is ready to cooperate with ASEAN countries in the energy transition process by providing more financial and technical support for testing and applying emission-reduction technologies. Accordingly, Japanese businesses wish to contribute to an effective energy transition in Vietnam by increasing private investment and applying deflation technologies, aiming to achieve … [Read more...] about Green-focused businesses ready for cooperation

The regulation, approved by the European Commission (EC) on May 16, 2023, is the latest by the EU regarding green, sustainable development, specifically deforestation-free agricultural products. It sets mandatory due diligence rules for all operators and traders who place, make available or export the following commodities from the EU market: palm oil, cattle, wood, coffee, cocoa, rubber and soy. The rules also apply to a number of derived products such as chocolate, furniture, printed paper, and selected palm oil-based derivatives (used for example as components in personal care products). They will be applicable to most companies from December 2024. Micro-enterprises and small-medium enterprises would have an additional six months to comply with the regulation's requirements. Binh Phuoc's key products like rubber, cashew nuts, coffee, pepper, durian, and wood and wood products are expected to be impacted by the requirements. Under the document, the chairwoman of the … [Read more...] about Vietnam’s cashew ‘capital’ takes action to comply with EU’s anti-deforestation regulations

The EV maker plans to deliver approximately 3,000 EVs to France, Germany, and the Netherlands in the fourth quarter of 2023, as the EU contemplates imposing import tariffs on Chinese EV competitors, according to a recent Reuters report. VinFast’s CEO Le Thi Thu Thuy revealed that the company anticipates introducing its VF8 models in France, Germany, and the Netherlands in Q4 this year. "Other models like the VF6, VF7, and VF9 are slated for a 2024 launch," she added. “Thuy did not indicate the number of VF8 sport utility vehicles (SUVs), but a person familiar with the matter said it would be around 3,000 vehicles, including some for Israel,” Reuters wrote. This move marks a significant growth target, with the company aiming to quadruple its European sales volume, a considerable jump from its earlier modest target of 700 EVs. The EU's stringent scrutiny of Chinese EV makers and the anticipated imposition of import tariffs could present a lucrative opening for VinFast. If the … [Read more...] about VinFast eyes Europe expansion amid potential EU tariffs on Chinese EVs

Interpon powder coating is one of AkzoNobel 's key product lines, designed for high coverage, safeguarding buildings, residential projects, and global landmarks. The product was developed to facilitate surplus paint reuse, thereby reducing both costs and carbon emissions to the environment. Exceeding rigorous criteria, adhering to strict evaluation and testing procedures lasting up to 4,000 hours (equivalent to nearly six months), Eurowindow is among the few businesses in Vietnam certified for utilising the Interpon D3020 electrostatic powder paint line, with a warranty period up to 30 years. As a paint and coatings company that emphasises minimising negative environmental impacts during product development, AkzoNobel focuses on collaborating with partners who share the same sustainability criteria and commitments. AkzoNobel highly values the cooperation with Eurowindow, contributing not only to the modernisation of numerous projects in Vietnam, but as two companies share … [Read more...] about AkzoNobel awarded certificate for paint product

Phu Nhuan Jewelry transforms its business operations with a cloud computing strategy Vietnam-based company, Phu Nhuan Jewelry (PNJ), has been consistent in its commitment to providing the highest quality products and services to customers whilst also being sustainable. To maintain its competitiveness in the market, the company has been implementing its retail strategies to get closer to its customers and provide a more complete, multi-faceted, and seamless shopping journey. Its cloud computing strategy, in particular, has accelerated the company's goals for the past two years. Before implementing the cloud computing strategy, PNJ had difficulty meeting the actual needs of the company's retail operations, especially during the peak season. For instance, on God of Fortune Day, many Vietnamese people would go to PNJ to buy gold, but heavy shopping made the experience inconvenient. PNJ has resolved this situation with comprehensive cloud-based solutions. Using the most advanced … [Read more...] about Phu Nhuan Jewelry embraces cloud computing strategy

Illustrative image (Photo: www.investing.com) Hanoi (VNA) - The Thai government plans to borrow about 2.4 trillion THB (nearly 66.65 billion USD) for the 2024 fiscal year starting October 1, up about 9% from the current year, according to market sources briefed by the Ministry of Finance. More than 700 billion THB of the total will be fresh borrow ing to finance the budget deficit, and about 1.7 trillion THB will be earmarked for refinancing and restructuring existing debts . About half of the funding sought will be raised through government bond sales, while the rest will be financed via treasury bills, savings bonds, bond switches and promissory notes. The government plans to sell up to 272 billion THB of government bonds in the last quarter of this year. The new cabinet of Thailand approved higher budget spending of 3.48 trillion THB for fiscal year 2024, along with a larger budget deficit of 693 billion THB, to revive the economy. According to Thai … [Read more...] about Thailand to borrow over 66 billion USD for fiscal year 2024

At a working session between Minister of Agriculture and Rural Development Le Minh Hoan and EC representatives (Photo: VNA) Binh Phuoc (VNA) – The People’s Committee of the south-eastern province of Binh Phuoc, dubbed as Vietnam’s “capital” of cashew and rubber trees, has issued a document on the implementation of an action plan framework in response to the European Union Deforestation-Free Regulation (EUDR). The regulation, approved by the European Commission (EC) on May 16, 2023, is the latest by the EU regarding green, sustainable development, specifically deforestation-free agricultural products. It sets mandatory due diligence rules for all operators and traders who place, make available or export the following commodities from the EU market: palm oil, cattle, wood, coffee, cocoa, rubber and soy. The rules also apply to a number of derived products such as chocolate, furniture, printed paper and selected palm oil based derivatives (used for example as components in … [Read more...] about Binh Phuoc takes action to comply with EU’s anti-deforestation regulations

Vietnamese Prime Minister Pham Minh Chinh (L) and his Japanese counterpart Kishida Fumio. (Photo: VNA) Hanoi (VNA) – The year 2023 marks the 50th anniversary of the establishment of Vietnam - Japan diplomatic relations (September 21, 1973 - September 21, 2023). During the past 50 years, the relations between the two countries have been strengthening and developing in fields. They have become important partners of each other, sharing strategic interests. The bilateral relationship framework has continually been heightened, from a "trusted, long-term stable partnership" (2002) to “Towards a strategic partnership for peace and prosperity in Asia" (2006), then to a "strategic partnership for peace and prosperity in Asia" (2009), and ultimately an "extensive strategic partnership for peace and prosperity in Asia" (2014). The two countries often exchange high-level delegations and convene meetings on the sidelines of international and regional conferences, thereby strengthening … [Read more...] about Vietnam, Japan go together, head to future, reach out to world

Signing the agreement signaled that Vietnam is an active and responsible member of the international community. Vietnamese Foreign Minister Bui Thanh Son signed the United Nations Agreement on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction (The High Seas Treaty) on September 20, making Vietnam one of the first countries to join the internationally legally binding instrument under the 1982 United Nations Convention on the Law of the Sea (UNCLOS). Vietnamese Minister of Foreign Affairs Bui Thanh Son signs the United Nations' Treaty of the High Seas.  Photo: VNA As part of Prime Minister Pham Minh Chinh's working trip to the United Nations General Assembly High-Level Week, the signing of the treaty conveyed the message that Vietnam is a positive and responsible member of the international community and that the country is committed to joining hands with countries to address global issues and contribute … [Read more...] about Vietnam becomes one of first nations to sign High Seas Treaty