Business technology trends

Hanoi city has applied innovations which help improve productivity and products’ quality as well as assist businesses in developing intellectual property assets. Science and technology activities of Hanoi have made important contributions to the city’s politics-security as well as socio-economic and cultural development. Workers at Hanwha Aero Engines factory in Hanoi, the first large-scale aircraft engine parts and components manufacturing facility in Vietnam. Photo hanoimoi.com.vn In the 2015-20 term, the department has implemented socio-economic growth programmes and plans along with the Central Party Committee’s resolution on science and technology development. It has created an open, favourable, transparent and effective legal environment for science and technology development, he said. According to director Son, since 2015, the city has completed 346 science and technology projects, more than 85 percent of which have been applied in practice, … [Read more...] about Hanoi makes impression in science and technology

The CEO and Regional Head, Client Coverage, Americas, Standard Chartered, shared his view on Vietnam's significance for US businesses and why Vietnam is potential for foreign investors. Vietnam has gone from being a frontier economy in ASEAN to a flourishing, cost-effective industrial nation. Firms and investors looking for new markets to grow, source, or manufacture their products – especially in Asia – should consider Vietnam’s long-term potential and stay updated on its opportunities. Steven Cranwell, CEO and Regional Head, Client Coverage, Americas, Standard Chartered. Photo: Standard Chartered In recent years, Vietnam has benefited from the trade tensions between the US and China. With US companies adopting a ‘China plus one’ approach to their supply chains, the percentage of exports from Vietnam to the US has risen by approximately nine percent between 2018 and 2021. It is, however, important to note that Vietnam has been an alternative to China … [Read more...] about The significance of Vietnam for US businesses and why they should take notice: Standard Chartered

Australian enterprises, participating in the Australia-Vietnam Energy Transition Business Forum held in Hanoi on Tuesday, said they are willing to help Vietnam develop systems and equipment to produce large energy-storage batteries domestically to reduce their prices. At the forum jointly held by the Australian Trade and Investment Commission (Austrade), the Electricity and Renewable Energy Authority under the Ministry of Industry and Trade, and the Vietnam Electricity Group (EVN), the energy transition of the two countries and Australia’s new energy technology and solutions were introduced. The event was among those to celebrate the 50th anniversary of the diplomatic relations between Vietnam and Australia. Building energy storage systems in Vietnam Renewable energy needs large storage equipment which meets safety standards and is eco-friendly. A typical solution in Australia is the energy storage battery. This is a feasible solution to optimize the renewable energy … [Read more...] about Australian firms willing to transfer energy-storage battery tech to Vietnam

The event attracted the participation of representatives from six agencies of the Korean government, members of the National Assembly, 30 leaders of businesses, agencies, research institutes, and universities related to green industry and smart mobility. In his speech on potential for cooperation between Vietnam and RoK and opportunities for green industry development in Vietnam, Dr. Tran Hai Linh, member of the Vietnam Fatherland Front Central Committee and VKBIA’s President briefed participants on the RoK's investment in Vietnam in recent years. He also assessed the potential for cooperation in investment and application of science and technology to green industry in Vietnam as well as potential for cooperation between Vietnamese and Korean agencies, organizations, businesses, and universities, research and development institutes for the development of green industry and supporting industries. VKERC’s President Kim Jong Bae emphasized that the transition to using green, smart, … [Read more...] about Vietnam and RoK foster cooperation in green industry and smart mobility

At last week’s AGM, privately-held Nam A Bank signalled its ambition to expand its footprint in the international market by establishing a wholly-owned commercial bank, or to set up a branch in a foreign country. Banks expanding share over borders, illustration photo/ Source: Nam A Bank This is part of the bank’s long-term strategy to diversify revenues, capitalise on other prospective foreign markets, and build a robust banking ecosystem. “This plan is in line with the upward trajectory of other financial institutions in a bid to support Vietnamese businesses in their international trade and investment activities,” said a bank representative. “We haven’t decided the exact location, but our target would be focused on the Asian market first.” Regarding its domestic network, Nam A Bank targets to open at least 20 new branches and transaction offices in various localities, such as Quang Ninh, Nghe An, Dak Nong, Binh Thuan, and Long An provinces. The bank’s AGM also … [Read more...] about Banks expanding share over borders

It is evident that organic production methods yield better economic returns and enhance the quality, competitiveness, and value of agricultural products. Hanoi has successfully implemented several organic farming models that align with modern agricultural development trends and have brought significant economic benefits to farmers. Organic rice cultivation model in Thanh Van Commune, Thanh Oai District, Hanoi. Photos: Anh Ngoc/The Hanoi Times In 2022, the Hanoi Agricultural Extension Center launched an organic rice production model on 20 hectares of land in Thanh Van Commune and Kim Bai Town, Thanh Oai District, according to which the production process involves the use of organic fertilizers and biological products instead of chemical fertilizers and pesticides in the rice area. A yield of 5,730 kg per hectare using organic production has been achieved with this approach. This model is expected to be replicated in other communities in the district this … [Read more...] about Hanoi promotes high-quality organic farming models