Chancellor of germany 2021

-What do you think about local garment firms’ inability to dominate the domestic market of 100 million people here in Vietnam? - Vietnamese textile and garment enterprises are still [only beginning to] tap the domestic market. Last year, the domestic market increased by 40% against 2021. Local enterprises performed very well in the first half of last year and began to face difficulties in the third quarter. In the fourth quarter, many good Vietnamese brands like Viet Tien saw sales decrease. In late 2022, the Vinatex Fashion Center retail outlet in Hanoi made revenues of only VND500-600 million ($21,200-25,400) a day, compared with daily revenues of over VND1 billion in previous years. Over the past two years, many domestic fashion brands have reduced their number of stores and limited new openings. They have had to focus on certain locations to reduce costs, optimize operations and try to offer products that are most suitable to consumers’ incomes.In fact, domestic … [Read more...] about Garment firms should tap niche markets: Vinatex chairman

The movie, released during the Lunar New Year holiday, immediately dominated the domestic box office and broke many records. According to Box Office Mojo, the global box office tracking site of IMDb, "Nha Ba Nu" recorded the sixth highest revenue in world box offices (excluding North America) from January. 27 to 29. "Nha Ba Nu" generated over $4.3 million during the three-day period. This put the movie at sixth among the highest-grossing movies in 2023. As of Thursday, the movie had reached the VND300 billion ($12.8 million) mark in Vietnam. And it is predicted to soon reach the VND400 billion mark that "Bo Gia" (Dad, I’m Sorry), which also starred Tran Thanh, achieved in 2021. Film experts and distributors said "Nha Ba Nu" contributed greatly to the revival of the Vietnamese box office during the Lunar New Year holidays ( Tet ). According to a representative of Box Office Vietnam, a film data site, the total revenue of movies released during Tet (from January 22 to 31) is … [Read more...] about Vietnamese movie enters world’s top 10 box office on weekend

Vietnamese lychees are sold at an AEON supermarket in Japan which is a major trade partner of Vietnam in Asia. (Photo: VNA) Hanoi (VNA) – Vietnam’s merchandise trade with Asia reached 475.29 billion USD in 2022, increasing by 9.6% compared to 2021 and accounting for the highest proportion (65.1%) in the country's total import-export value. Accordingly, Vietnam’s exports to other Asian countries reached 177.26 billion USD in 2022, up 9.5% year-on-year. The country’s imports from other Asian nations hit 298.03 billion USD, up 9.6%. Vietnam saw a trade deficit with only Asia among the five continents. Major trade partners of Vietnam in Asia include China, the Republic of Korea, Japan, and the Association of Southeast Asian Nations (ASEAN). According to preliminary statistics of the General Department of Customs, Vietnam's total import-export value of goods reached 730.2 billion USD last year, up 9.1% compared to 2021. The value of imports and exports between … [Read more...] about Vietnam-Asia trade reaches nearly 475.3 billion USD in 2022

The Ho Chi Minh City Stock Exchange (HoSE) on Thursday warned that Vietnam Airlines (HVN) could be delisted if an audit proves the company has logged an operating loss for three consecutive years. In its warning, the HoSE cited the firm’s consolidated financial statement for the last quarter of 2022 in which Vietnam Airlines posted an accumulated loss of nearly VND34.2 trillion (US$1.46 billion) in 2022. The carrier also reported that its equity was negative VND10.2 trillion ($435.4 million) last year. According to the Law on Securities, the stock of a public company must be delisted if it suffers annual operating losses for three consecutive years, if its accumulated losses exceed its charter capital, or if its equity is negative. As such, if Vietnam Airlines' audited consolidated financial statement for 2022 shows a loss, it will be the firm’s third consecutive year of operational losses and its ticker will be delisted, the HoSE warned. On June 1, 2022, the HoSE issued a … [Read more...] about Vietnam Airlines risks stock delisting

Many banks in Vietnam have released their business results in 2022, which indicate their hefty profits. According to the 2022 financial report of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), it recorded a pre-tax profit of over VND37.3 trillion (US$1.59 billion), up 36 percent year on year and exceeding its 2022 target. With this result, Vietcombank has taken the lead in pre-tax profit in the entire banking system for five consecutive years. It was followed by Vietnam Technological and Commercial Joint Stock Bank (Techcombank), which earned over VND25.5 trillion (nearly $1.09 billion) last year, rising 10 percent compared with the preceding year. Last year was the ninth straight year that Techcombank had posted a profit growth rate, albeit at a modest rate. Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was also among the banks with a high profit. Its pre-tax profit surged more than 70 percent to nearly VND23 … [Read more...] about Banks in Vietnam report handsome profits in 2022

Visitors at Laos’ Bolaven coffee 2023 festival which is underway from February 2-4 in the southern province of Champasak of Laos. — VNA/VNS Photo Pham Kien Vietnamese coffee businesses are attending Laos’ Bolaven coffee 2023 festival which is underway from February 2-4 in the southern province of Champasak of Laos. The event is not only an opportunity for coffee growers in Laos to promote organic coffee products to international friends but also a chance for Vietnamese enterprises to expand their market in Laos. Among the 50 booths displaying products from Laos, Thailand and Cambodia, Viet Nam is represented with three booths introducing its products from three localities, namely Da Nang City, Dak Lak and Binh Phuoc. Currently, Laos’ coffee products have been exported to more than 20 countries. In 2022, the total export volume of coffee beans of Laos reached about 22,000 tonnes with a value of over US$67 million. Meanwhile, the General Department of Customs said Viet Nam’s … [Read more...] about Viet Nam attends Laos’ Bolaven coffee festival

Hanoi, (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. -The Presidential Office on February 3 announced the Acting President’s order to promulgate the Law on Medical Examination and Treatment that was adopted by the 15th National Assembly at its second extraordinary session. The revised law aims to deal with shortcomings and emerging problems in medical examination and treatment activities in a bid to develop and improve the quality of medical services towards fairness, high efficiency, development and international integration, while strengthening State management over these activities. Read full text -A delegation of the Communist Party of Vietnam (CPV) Central Committee, the Presidency, the National Assembly, the Government and the Vietnam Fatherland Front (VFF) Central Committee on February 3 paid floral tribute to President Ho Chi Minh at his mausoleum in Hanoi on the occasion of the 93rd founding anniversary of the CPV … [Read more...] about ☕ Afternoon briefing on February 3

UK Minister of International Trade Greg Hands visited Vietnam on Wednesday to explore trade cooperation opportunities between the two countries. His visit came amidst the UK’s pursuit of full membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2023. Vietnam is the first stop on the minister’s three-day trip to three Southeast Asian countries, all of which are founding members of the partnership. During an exclusive interview with Tuoi Tre News , Hands emphasized what the UK can offer the CPTPP, as well as discussed the UK’s strong strategic partnership with Vietnam. In a speech at Lancaster House on January 23, UK Trade Secretary Kemi Badenoch outlined five priorities for trade. What are your priorities as the Minister of State for Trade Policy? My personal priorities are, first, to get the UK into the CPTPP. Vietnam will play a crucial role in that progress. My second priority is to do a free trade agreement with India this … [Read more...] about UK joining CPTPP a fundamental change to the bloc: minister