Cable x force onslaught rising

With falling demand and rising input costs, chicken farmers in the north central province of Nghe An are on the verge of bankruptcy, struggling with a debt crisis. Pham Van Chinh besides the dead chickens Tien Thanh and Ma Thanh Communes in Yen Thanh District are known as Nghe An’s Chicken Kingdom, but the cheap chicken prices have caused farmers to incur losses over the past time, forcing them to scale down their flocks or give up breeding chickens. Pham Van Chinh in Tien Thanh Commune said his family had incurred losses of VND1 billion (USD42,962) so far this year. Since early this year, the price of animal feed sharply increased while the price of chicken dropped dramatically. Currently, a 25kg-bag of bran costs VND360,000, an increase of 15 percent compared to last year but the current chicken prices range from VND38,000-40,000 a kg. Chinh cannot now afford to buy bran to feed his flock of chicken and is struggling with an amount of debt. Tran Thi … [Read more...] about Nghe An chicken farmers face debt crisis

Illustrative image (Courtesy of AFD in Vietnam) The European Union (EU) and France, through the French Development Agency (AFD), recently offered 20 million EUR (23.6 million USD) in aid to Vietnam to help improve resilience, water and natural resources management . On May 11, Ambassador of the EU to Vietnam Giorgio Aliberti and AFD Director in Vietnam Fabrice Richy signed an agreement to enhance cooperation to improve resilience to climate change and natural disasters in Vietnam, moving towards a “green future”. Under the agreement, the EU will provide a non-refundable aid of 20 million EUR for AFD. Via coordination with central and local authorities, AFD will call on the Water and Natural Resources Management (WARM) Facility to prepare and launch projects co-financed by AFD’s loans and Vietnam’s resources during the 2011-2029 period with total estimated capital of 200 million EUR. As planned, the WARM will back the preparation and implementation of more … [Read more...] about EU and France help Vietnam towards a green future

Data from travel platform Mustgo, which partners with 100 hotels in the south central beach town, showed two- and three-star hotels in the downtown fully booked for the week. The four-star Anya Quy Nhon reported no rooms on Friday and other high-end hotels are almost full. The fourth season of VnExpress Marathon Quy Nhon will take place on Sunday, attracting more than 10,000 runners. Return air tickets from Hanoi, HCMC to Quy Nhon cost from VND3 million ($130) per person. Quy Nhon has emerged as a rising star on the Vietnamese tourism map thanks to its long, sandy beaches and crystal blue waters. … [Read more...] about Quy Nhon hotels nearly full ahead of summer travel rush

SABECO in Forbes' top 50 listed companies in 2023 This is the 11 th year it has released this list in the country. The rankings are based on last year’s audited consolidated financial reports of the companies listed on the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange. Forbes Vietnam said total after-tax profit of the 50 firms stood at over VND228 trillion ($9.7 billion) while their combined revenue VND1.49 quadrillion ($64.8 billion), respectively rising 18 per cent and 24.9 per cent from the 2022 list. In 2022, profits of listed companies in general and those in the top 50 hit a record level. Of these, 2022 is a year when SABECO recorded a record profit after tax since its establishment in 1975. The company recorded a nearly 33 per cent increase in net revenue and a 40 per cent increase in net profit compared to 2021, despite the impact of the pandemic as well as fluctuations in the domestic market. On the journey of 148 years of development, an important … [Read more...] about SABECO in Forbes top 50 listed companies

Four restaurants in Vietnam have received a rising number of customers after they were awarded Michelin Stars. Four restaurants in Vietnam are awarded Michelin Stars on June 6. A representative of the Tam Vi Restaurant, Mai Anh, said that receiving one star from but they haven't been well-prepared to serve such a large number of customers who are flocking to try the restaurant after hearing about the award. We’re fully booked for the next few days," Anh said. A meal at Tam Vi Restaurant Like the Hanoi-based Tam Vi, three other restaurants including the Hibana by Koki, Gia in Hanoi and Anan Saigon in HCM City also shared that they have received a sharp rise in the number of customers after being awarded Michelin Stars. Peter Cuong Franklin from the Anan Saigon revealed that they've received around 50 bookings over the past two days. "As our restaurant lies in a traditional market, we have very limited space," he explained. "We can only … [Read more...] about Vietnamese restaurants attract customers after receiving Michelin Stars

At the meeting (Photo: VNA) Brussels (VNA) - Executive Vice President of the European Commission (EC) Valdis Dombrovskis, who is also Trade Commissioner, has affirmed that the European Union (EU) has regarded Vietnam as its important partner in the region, and called the Southeast Asian nation a model in impressive trade cooperation, especially after the EU-Vietnam Free Trade Agreement (EVFTA) came into force in 2020. Speaking at a meeting with the ASEAN Brussels Committee ( ABC ) in Brussels on June 6, Dombrovskis noted that the EU will increase its investment in Vietnam, particularly in significant such areas as just energy transition, and sustainable development. Vietnam’s Vice Ambassador to Belgium Vu Thu Thuy emphasised that the EU is an important partner of Vietnam, and trade cooperation remains a bright spot and a pillar of the bilateral ties. After the coming into force of the EVFTA , the two-way trade has grown more than 30% annually despite uncertainties in … [Read more...] about Vietnam a model in trade cooperation: EC official

Vietnamese consumers are also becoming more discerning and value conscious (Photo: VNA) Hanoi (VNS/VNA) - Vietnam remains an attractive market for retailers as Vietnamese consumers remain optimistic about the economic challenges and are driving premium purchases. Vietnamese consumers’ overall optimism remained one of the highest among countries globally, according to global management consulting firm McKinsey. McKinsey wrote in a recent article on its website that Vietnamese consumers were optimistic that the country’s economy would rebound within two to three months and grow just as or even more strongly than before the COVID-19 pandemic. There was also a clear intent by consumers to “splurge” and treat themselves, with more than 70% of respondents saying they intend to increase spending on categories of products or services they spent less on over the past year and a half. It was estimated that more than half of the Vietnamese population would enter the global middle … [Read more...] about Vietnam remains an attractive retail market: reports

Jakarta (VNA) – Indonesia is working on options to reduce the amount of transboundary haze that could affect Singapore, according to Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan. The official said on June 6 that the Indonesian authorities are looking at climate modification technology to produce artificial rain and strengthen water reserves, which could help prevent peatland fires. The ASEAN Specialised Meteorological Centre (ASMC) said on May 30 that more prolonged and intense heat waves and droughts are expected from June to October in the southern ASEAN region – which includes Singapore – with a higher risk of transboundary haze and fires. Meanwhile, Indonesia’s Meteorology, Climatology and Geophysics Agency has forecast the risk of forest fires to rise when Indonesia enters the dry season that began in April. However, Luhut affirmed that the Indonesian Government has proactively taken measures to minimise the impact caused by the … [Read more...] about Indonesia works to prevent haze from spreading to Singapore

Several enterprises in the northern region of Vietnam have decried repeated power outages after a region-wide electricity cut paralyzed their production activities. A representative of state utility Vietnam Electricity (EVN) said that power would be cut in the region by up to 30 percent. According to a representative of an apparel firm active in Viet Hung Industrial Park in Ha Long City under Quang Ninh Province, the firm’s production was in a turmoil due to unstable power supply. Power outages have forced the company to constantly run its own generators, leading to a surge in production costs, the representative said, adding that the firm might halt operations if the blackout continues. “Due to global economic difficulties, we have adopted various measures to secure orders to maintain work for over 1,000 employees, but massive power outages have prompted us to use generators,” said the representative. However, it is hard to lengthen the situation, the representative added. … [Read more...] about Companies in northern Vietnam voice outcry over power cut

Police in Hanoi have arrested four suspects and seized more than 62kg of synthetic drugs, cracking down on a ring that smuggled drugs disguised as food and home appliances from European countries into Vietnam. The kingpin, 27-year-old Hoang Tien Dung, hailing from northern Hung Yen Province, was arrested during a coordination between the police of Hanoi and their colleagues in Hung Yen from May 4 to 7. To create a screen to hide his illegal drug smuggling, Dung set up an agency providing purified water and a night eatery in Hung Yen but used these facilities as the places to receive and deliver drugs, Hanoi police reported on Tuesday. Also detained with Dung were his two accomplices, Tran Van Tuan, 19, and Dao Ngoc Long, 35, both from Hung Yen. Tuan directly aided Dung in the illegal sale of smuggled drugs in Vietnam while Long acted as a middleman for Dung to deal with a suspect living abroad to buy drugs from European countries. Earlier on March 23, Hanoi police in … [Read more...] about Hanoi police bust ring smuggling drugs from Europe to Vietnam