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VBF: Agribusiness Working Group recommends fostering digital transformation This was the recommendation of David Whitehead, head of the Vietnam Business Forum's (VBF) Agribusiness Working Group, within the framework of the annual BVF dialogue in Hanoi today. According to the working group, in 2022, the global agricultural sector faced many challenges such as high prices for raw materials, the effects of the Russia-Ukraine conflict, the production protection policies of some countries, and stricter import requirements. Thus, in Vietnam and throughout the world, the sector needed to re-invent itself. New ideas, smart concepts, new farming models, innovation, digitalisation, more efficient logistics, and a greater focus on circular agriculture and environmental responsibility needed to be addressed. In Vietnam in particular, the reformation become more necessary because the country is diversifying its export markets for agricultural products. It is expected that in 2023 and … [Read more...] about VBF: Agribusiness working group recommends digital transformation

The Mayor of Daegu, Hong Joon Pyo (right) and Chairman of Trungnam Group Nguyen Tam Thinh at the signing ceremony. — Photo courtesy of Trungnam Group On March 16, the Mayor of Daegu City, Hong Joon Pyo, visited Da Nang City. On this occasion, the representative of Daegu City signed a memorandum of understanding (MoU) with Trungnam Group - one of the largest energy corporations in Viet Nam, to promote the development of renewable energy and technology industries. With a plan to promote business connections and cooperation between the two countries in the fields of energy and information technology, the two sides signed the new agreement to open up new opportunities for Korean businesses to explore and invest in Da Nang City and Trungnam Group. Trungnam Group is a leading investor in Viet Nam in renewable energy, infrastructure, construction, real estate, and information technology. Trungnam Group has implemented many large-scale projects in localities throughout the country, … [Read more...] about Trungnam Group and Daegu city sign comprehensive cooperation agreement

China was the largest tourism market of Vietnam before COVID-19 pandemic broke out. In 2019, Vietnam welcomed 5.8 million Chinese visitors, accounting for nearly 30% of total foreign tourists in Vietnam. Meanwhile, 4.5 million Vietnamese traveled to China in the year. The reopening of group tours to Vietnam has been welcomed by Chinese people and travel firms. Highlighting the sound collaboration in tourism between the two sides before COVID-19 broke out, the diplomat held that China's reopening of group tours to Vietnam will help the tourism sectors of both countries speed up their recovery and development, benefiting both sides and contributing to fostering friendship between the two nations./. VNA … [Read more...] about China’s resumption of group tours to Vietnam receive warm response

Though China added Vietnam to its list of approved countries for group tours on March 15, flights carrying groups of Chinese tourists to Khanh Hoa Province in the south-central region will not resume until March 26, according to Cam Ranh International Terminal Joint Stock Company. Accordingly, low-cost air carrier Vietjet Air will run about 34 round-trip flights between China and Khanh Hoa from March 26 to March 31. While China Southern Airlines has plans to reopen an air route connecting China with Cam Ranh International Airport in Khanh Hoa on March 26 with one daily flight, the frequency will float between 25 and 30 daily international flights from mid-April 2023 onward. Several local travel firms which specialize in facilitating Chinese tourism to Khanh Hoa said that China repealing its prohibition of outbound group tours to Vietnam, and Khanh Hoa in particular, would be a big boost to local tourism, enabling outlets to sell more tours for the upcoming holidays – … [Read more...] about Vietnam’s Khanh Hoa to receive dozens of Chinese tour groups through end of month

The signing took place last week when the representative of Daegu visited the central city of Danang. With a plan to promote business connections and relationships between the two countries in the fields of energy and IT, the signing ceremony has opened up a new opportunity for Korean businesses to explore and invest in Danang. Trungnam Group is a leading investor in Vietnam in the fields of renewable energy, infrastructure, construction, real estate, and IT. The group has implemented many large-scale projects in localities throughout the country such as Ninh Thuan, Dak Lak, andTra Vinh, with more than 1.6 GW of electricity contributed to the power grid. Trungnam Group is also the only private enterprise in Vietnam to participate in the process of transmitting electricity with a 500kV substation and 500kV, 220kV power lines connected to the national power system, accompanying the Vietnamese government in the process of reducing carbon emissions. Daegu expects that the signing … [Read more...] about Trungnam Group signs cooperartion agreement with Daegu city

The Ministry of Finance has just signed a decision to establish a working group to fight against smuggling by air. Drugs are found inside toothpaste tubes which were put in the hand luggage of Vietnam Airlines attendants on March 16 The eight-member group, which is led by Le Thanh Hai, Chief of the Standing Office of the National Steering Committee for Anti-smuggling, Counterfeit Goods and Trade Fraud, will intensify inspection and supervision to promptly detect and handle smuggling by air at local international airports. The move was made following a major drug smuggling case found recently on a Vietnam Airlines flight. Four female Vietnam Airlines flight attendants were found transporting nearly 11 kilos of drugs on a flight from Paris to HCM City on March 16. The four have been detained and had their homes searched while Vietnam Airlines is co-operating with concerned agencies on the investigation into the case. According to the Civil Aviation Authority … [Read more...] about Vietnam sets up working group to fight smuggling by air

Leaw Boon Kiat, 36, Thong Joon King, 32 and Gan Ban Lee, 42, are being investigated for brokering illegal entry. The police are clarifying the involvement of the other three. Six Malaysians are at a police station in HCMC, March 2023. Photo courtesy of the police On March 12, the 30 Indonesians came to the Consulate General of Indonesia in HCMC to report about being smuggled into Vietnam and detained inside a building in Binh Thanh District. They were forced to masquerade as bank employees and other Indonesian authorities and make scam calls back to Indonesia to swindle money from people, the Indonesians said. When police raided the building in question, the Malaysians had already escaped, but officers later found six of them renting a room at the Tan Son Nhat hotel in Tan Binh District and arrested them. These people had already bought flight tickets, which were supposed to get them out of Vietnam on March 13. A house in HCMC's Binh Thanh District where … [Read more...] about 30 Indonesians held by Malaysian group in HCMC for phone scams

Workers loading products at a warehouse of Hoa Sen Group. — Photo courtesy of the company Hoa Sen Group was sanctioned for violation of tax regulations by the Tax Department of Binh Duong Province, with a total fine and tax arrears of more than VND2.8 billion (US$119,174), the company said on March 21. In a decision dated March 13 sent to Hoa Sen Group, the Tax Department of Binh Duong Province said that the steel producer has misreported revenue, expenses and other incomes for 2020-2021, leading to underpayment of corporate income tax (CIT) and VAT of VND2.08 billion to the State budget. Therefore, Hoa Sen Group is fined VND415.76 million for the violations. And besides the unpaid amount of CIT and VAT, the company also has to pay for the late payment VND317.6 million. The final payment for fine and tax arrears is VND2.81 billion. In a recent General Meeting of Shareholders 2022-2023, Le Phuoc Vu, chairman of the Board of Director of Hoa Sen Group, said that even though … [Read more...] about Hoa Sen Group fined for tax arrears

According to the World Tourism Organization (UNWTO), sports tourism contributes up to 30 per cent of tourism's total revenue in some countries. Many countries have changed their tourism images through major sporting events that considerably leveraged tourism development and economic growth. The linkage of sport-based tourism products and sporting events contributes to stimulating local tourism or reducing seasonality by attracting many tourists in the low season. In addition to the economic boost, sports tourism brings cultural connection between the local community and international tourists. Leading international sporting event centre of Southeast Asia In the heart of Central Vietnam, Danang–Hue–Hoi An plays a significant role in the economy, and tourism development nationwide, which is an important connecting point and the motivation for regional linkage development. In addition to the economic boost, sports tourism brings cultural connection between the local … [Read more...] about VGS Group accompanies central region in journey as international sports destination

The information comes from Generali Vietnam’s latest release issued March 16, citing that at a meeting chaired by president Andrea Sironi, the Assicurazioni Generali Board of Directors approved the consolidated financial statements and the parent company’s draft financial statements for the year 2022. Along with this, the group’s gross written premiums rose by 1.5 per cent to $86.7 billion, thanks to the positive performance of the Property and Casualty (P&C) segment, led by the non-motor line. Generali Vietnam has contributed to the group’s performance with strong growth after 12 years of operation The operating result climbed by 11.2 per cent to reach $6.89 billion, thanks to positive growth in the Life, P&C, and Holdings and other businesses segments. The Life segment grew strongly by 25.1 per cent to reach $3.73 billion, reflecting excellent technical profitability, which was also confirmed by the new business margin at 5.35 per cent – up 0.86 … [Read more...] about Generali Group touts best-ever operating results in 2022