Business news

VNA Director-General Vu Viet Trang (R) and Bernama Editor-in-Chief Khairdzir Md Yunus exchange the professional cooperation agreement in March 2022 (Photo: VNA) Kuala Lumpur (VNA) – The national news agencies of Vietnam and Malaysia - Vietnam News Agency (VNA) and BERNAMA - can learn from each other as they move forward in the changing media environment, BERNAMA CEO Roslan Ariffin told VNA in Kuala Lumpur. Ariffin noted that the two news agencies signed their first news exchange agreement 40 years ago on December 8, 1982, which was renewed thrice in 1991, 2015, and 2022. The agreement has facilitated the flow of news between the two countries, providing the two peoples with ample information to enable them to have a correct perspective of developments in either nation, whether it is political, economic or social. The official said that the Malaysian national news agency had stationed a correspondent in Hanoi from January 1994 to March 1998 when it had to close its Hanoi … [Read more...] about Vietnamese, Malaysian national news agencies can learn each other: BERNAMA leader

Recent arrests of Vietnamese flight attendants for carrying undeclared goods and drugs require drastic action. Airline officials will face severe disciplinary action if illegal drug and merchandise trade is reported under their jurisdiction, according to the Civil Aviation Administration of Vietnam. Passengers wait in line for registration and luggage check at Tan Son Nhat International Airport in HCM City. Photo: Huy Hung/The Hanoi Times The action is under the authority's Directive 1480/CT-CHK to prevent flight attendants and ground staff from illegally importing drugs and goods into the country, the authority said in a March 27 website notice. Aviation companies must improve education and training so that employees are aware of the harm and negative impact of smuggling on the nation and domestic economy, the authority added. "They also need to continue to screen those being employed. All those involved in flying must follow the rules," it said. All … [Read more...] about Business executives to face disciplinary action for failure to stop smuggling activities

A factory in Dong Nai province's Giang Dien Industrial Zone. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam attracted nearly 5.45 billion USD worth of foreign investment in the first quarter of the year, down 39% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment . Of the three-month figure, over 3 billion USD came from 522 newly-licensed projects, up 62% in a number of projects but down 6% in the amount of capital compared to the same period last year. Some 1.2 billion USD was added to 228 existing ones, representing a yearly hike of 3% in a number of projects and a yearly decline of 70.3% in the capital. However, foreign investors' capital contribution and share purchases rose 4% year-on-year to 798 million USD, the FIA said. Along with the contraction in fresh capital, the disbursed capital also slightly plunged 2.2% from a year earlier to 4.3 billion USD, it noted. The most significant proportion of the … [Read more...] about Vietnam’s foreign investment plunges 39% in Q1

She had announced she would leave her post as Fulbright president this summer after an eight-year stint. Thuy, 62, has master’s degrees in management from Harvard University and the Wharton School of the University of Pennsylvania in the U.S. She has also been general director of ANZ Vietnam and the Vietnam International Commercial Joint Stock Bank (VIB). Tasco was known as a major toll booth operator with projects spread throughout the country. After its founder, Phan Quang Dung, quit as president, the firm restructured with three different businesses: infrastructure-car service, real estate and insurance. This year Tasco targets revenues of VND22.5 trillion (US$957.6 million) and a profit of VND600 billion. … [Read more...] about Fulbright University chief named to Tasco management board

For the last few weeks GoGelato in Binh Tan District has been offering ice cream for free to gather feedback for the new products. Luc, an ethnic Chinese entrepreneur who became famous in 2020 for introducing dragon fruit bread , wants to use domestic fruits as the main ingredients to make ice cream. "I started learning how to make fruit ice-cream two years ago when I saw lots of fruits remaining unsold due to oversupply." While people are tightening their purse strings now due to inflation, Luc said the food business is recession-proof and consumption would recover soon. Luc started doing business in Vietnam in 1979 and has won many international awards for his breads. His chain supplies to major brands such as Starbucks, KFC, Lotteria, Jollibee and Domino’s Pizza. The Vietnamese ice cream market grew by 7% last year to VND4.3 trillion (US$182.94 million), with the three top players, Kido Group, Unilever Vietnam and Vinamilk, dominating with a combined 64% market share, … [Read more...] about ‘Bread King’ turns his sights to gelato

This is the 3rd year in a row that SABECO and its Bia Saigon accompanied the Tien Phong Newspaper National Marathon Championship. — Photo courtesy of SABECO Saigon Beer – Alcohol – Beverage Corporation (SABECO) and its Bia Saigon brand have continued to affirm the commitment to promoting an active lifestyle and physical training in the community. Through the Bia Saigon brand, SABECO was the diamond sponsor for the Tien Phong Newspaper National Marathon Championship held on March 25-26 in the mountainous province of Lai Chau. This is the 3rd year in a row that the company has accompanied one of the professional, long-standing and large-scale tournaments in Viet Nam. The Tien Phong Newspaper National Marathon Championship is not only a sports activity aimed at encouraging a healthy lifestyle and spreading the sports spirit in the community, but also an useful playground for the national athletics team to prepare for the 32nd SEA Games. Speaking at the event, Venus Teoh Kim Wei, … [Read more...] about SABECO affirms commitment to promote healthy lifestyle and empowers Vietnamese sports

The plan will be carried out from now until 2030 with the aim of classifying hazardous solid waste so the different types can be treated individually, which will reduce the volume of solid waste being treated by burying. The province will equip each town and district with trucks to transfer specialized solid waste and upgrade existing solid waste treatment facilities in Nam Dong, A Luoi, Phu Loc and Phong Dien Districts. It will also speed up work to finish building the Phu Son solid waste treatment plant in Huong Thuy Town. The province has set a target of properly collecting and treating 100% of hazardous solid waste discarded by medical facilities and businesses by 2030. A report in 2019 by Tai Nguyen and Moi Truong newspaper under the Ministry of Natural Resources and Environment said that the central province discharged around 600 tons of unsorted solid waste per day on average, including 200 tons in Hue alone. The National Environmental Status Report 2019 of the … [Read more...] about Thua Thien-Hue to spend $85M to improve handling of solid waste

Ceremony to open Trung Nguyen Legend representative office in Gangnam district, the Republic of Korea (RoK)’s Seoul. — VNA/VNS Photo Khanh Van Trung Nguyen Legend Corporation, part of the well-known Vietnamese coffee maker Trung Nguyen Group, officially opened its representative office in Gangnam district, the Republic of Korea (RoK)’s capital Seoul on Tuesday. Speaking at the event, Vietnamese Ambassador to the RoK Nguyen Vu Tung said the opening of Trung Nguyen Legend’s representative office in the RoK is evidence of the close friendship between the two nations. Huynh Vang Cam Tu, deputy general director of Trung Nguyen Group, said over the past decade, Trung Nguyen Legend has spread the Vietnamese coffee culture in the RoK. In 2019, Trung Nguyen Legend officially built a local workforce in this important market, promoting business activities and brands to affirm the value of Buon Ma Thuot robusta coffee beans in premium G7 coffee product lines. According to her, the RoK is … [Read more...] about Trung Nguyen Legend Coffee opens representative office in RoK

Nalin Wickramasingher, Powerledger's BD and Sales Executive and Le Thi Phuong Cam, EVNCPC's Deputy Director General announced the partnership. — Photo courtesy of Powerledger Australian energy trading technology company, Powerledger, on Tuesday announced it’s partnering with Viet Nam Electricity Central Power Corporation (EVNCPC) to launch Viet Nam's first peer-to-peer (P2P) energy trading project at the Australia-Viet Nam Forum on Energy Transition. The initial 6-month trial will see Powerledger’s technology used by so-called “prosumers” with rooftop solar in Da Nang and Quang Nam provinces to sell electricity directly to consumers. “This project is a major step for Viet Nam. It will showcase how, with the right technology, issues of intermittency and grid congestion can be overcome whilst still growing renewables. Everyone on both sides of the partnership is looking forward to the results,” said Powerledger Chairman Dr Jemma Green. Viet Nam has become the world’s … [Read more...] about Powerledger and Viet Nam Electricity launch first blockchain peer-to-peer energy trading project

A cross-functional team will be set up to work on improving the prospects of the local real estate market. Prime Minister Pham Minh Chinh has issued a document on solving real estate market problems and improving its prospects. An affordable housing project in Dong Anh District's Thang Long Industrial Park. Photo: Pham Hung/The Hanoi Times The document, numbered 178/TTg-CN, aligns with Resolution 33/NQ-CP dated March 11, 2023, which provides solutions to develop a healthy, transparent, and sustainable real estate sector. Under the latest document, the Ministry of Construction, the Ministry of Treasury, the State Bank of Vietnam, and related agencies will set up a working group and work with developers to resolve existing problems and increase confidence in the property market. The Prime Minister has asked the Ministry of Construction to finalize the plan to build one million affordable houses for low-income buyers and workers in industrial parks in … [Read more...] about New regulation in place to boost Vietnam’s real estate market