Exports expected to continue expanding in 2021 EC allows Vietnamese exporters to extend deadline of REX applications In particular, the first month of 2021 reported export revenue of US$27.7 billion, up 0.2% compared to December 2020 and up 50.5% compared to the same month in 2020. Important markets such as the US, China, the EU, and Japan all maintained growth in their demand of between 15 to 111%, compared to the same period in 2020. Deputy Director of the Import and Export Agency under the Ministry of Industry and Trade Tran Thanh Hai said that the lessons learnt from dealing with adverse situations in 2020 will continue to be applied this year. The disruption of the global supply chain due to the COVID-19 pandemic has motivated Vietnamese enterprises to develop solutions to help them survive including enhancing online trading or shifting to the production of goods designed for pandemic prevention and control. The business community has also made efforts to maintain competitiveness, improve product quality, and seek export orders, particularly for key commodities such as phones and components, electronics, computers, footwear, textiles, mechanics, and rice. Rice export, which was a bright spot in agricultural exports in 2020, is facing an opportunity to increase export turnover thanks to high demand around the world and improvements to the quality of Vietnamese rice. Economist Pham Tat Thang commented that enterprises are taking advantage of traditional markets combined with rapid penetration into new markets through free trade agreements in order to take advantage of the new tax incentives therein. With the efforts of authorities and enterprises, total export turnover in 2021 is expected to increase by 4-5% compared to 2020. PV Power to divest subsidiaries and streamline operations PetroVietnam Power (PV Power) has confirmed plans to divest from some of its subsidiaries. PetroVietnam Power Corporation JSC (PV Power, HSX: …
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VIETNAM BUSINESS NEWS FEBRUARY 8
Flower growers look to online sales amid COVID-19 resurgence Workers at a flower farm in Da Lat City. Traditionally, city dwellers shop for flowers and botanicals at flower markets to fill their home with the most cheerful blooms to celebrate the new year. But many flower growers said that flower markets were not busy this year, leaving them with an oversupply. Nguyen Duy, a flower farm owner in Da Lat City, said that COVID-19 outbreaks in many localities would likely affect people's purchasing power for flowers ahead of Tet festival. Thuy Vu, director of the The Gioi Hoa Tuoi JSC, a wholesale supplier of flowers, said it would not focus on retail sales for the Tet festival this year due to market uncertainty. Nguyen Thi Ngoc Lan, a flower vendor at Ho Thi Ky flower market in HCM City, said flowers stockpiled for the Tet market this year were not as numerous as last year due to concerns over weak purchasing power. Purchasing orders with flower farms are expected to change in the next few days depending on the control of COVID-19, Lan said. Flower farms in Da Lat City have seen a 55 per cent drop in orders from wholesale markets in other cities and provinces, according to a survey of the Da Lat City People’s Committee. The committee, however, has reported a boom in online sales of agricultural produce, flowers and botanicals ahead of Tet. It advised farms to use bank transfer payments for retail orders and to sign contracts with merchants for wholesale orders to ensure the success of online deals. Livestreams Shoppers can find various types of flowers from flower farms and merchants on online shopping platforms. Nguyen Thi Bich Thuy from Biofresh Company in Da Lat City has hosted livestreams via Facebook to guide viewers through different types of flowers and plants available on the farm. Amid the pandemic, live commerce has helped promote and sell products, and engaged potential shoppers, Thuy said. Tran Van Tam, a flower grower in Da Lat …
New capital mobilization mechanism for Hanoi urban infrastructure
The Hanoitimes - Hanoi has been given permission to speed up process of mobilizing capital and selecting contractors for urban infrastructure development projects in form of public-private partnership (PPP), per the Deputy Prime Minister Trinh Dinh Dung`s request. The move is aimed to solve Hanoi's traffic congestion and environmental issues through the acceleration of 24 urban infrastructure projects with total investment of VND136 trillion (US$6 billion), the Government Office announced Dung's conclusion. Illustration photo. Following the instruction, Hanoi is authorized to develop its own plan of choosing contractors under special conditions stipulated in the Bidding Law for each specific project, which will be later reviewed by the Ministry of Planning & Investment (MPI). Dung requested the MPI to cooperate with related agencies in reviewing Hanoi's proposal within 10 working days since the submission day. Consequently, the process of selecting contractors for PPP transport - urban infrastructure projects in Hanoi will be reduced by 45 - 100 days. In normal case, the process of selecting, negotiating and awarding contract for contractor of PPP project may be up to 700 days, informed the Hanoi People's Committee. With regard to Hanoi's proposal on having permission of signing contract for category A project under the build - transfer (BT) form, Dung instructed the city to comply with the law. Last July, Hanoi's Chairman Nguyen Duc Chung proposed to the Prime Minister of implementing 20 infrastructure development projects under special condition. These projects include: building bridge and road in Ring road No.4 (Me So bridge, Hong Ha bridge, section from Hanoi - Lao Cai highway to national highway No.32, and section from national highway No.32 to Phap Van - Cau Gie highway); Duong No. 2 bridge; Giang Bien bridge and the access road; upgrading national highway No.6 from Ba La to Xuan Mai; center road in Dong Anh …
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