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Currently, there are more than 70 million registered motorcycles in the Southeast Asian country with the figure projected to grow even larger in the future. In the first four months of 2023 alone, the country produced more than 1 million new motorcycles. Five major manufacturers: Honda, Yamaha, Suzuki, Piaggio, and SYM hold over 90% of the market share in Vietnam, manufacturers also export fully assembled models to international markets. VAMM said the stage has been set for Vietnam to become an attractive destination for motorcycle manufacturers in the Asia-Pacific region. Due to supply chain difficulties and rising trade tension between the U.S. and China, manufacturers have been shifting their investments to smaller markets in Asia to minimize risks. For example, the Japanese government has allocated a 2.2 billion USD fund in support of Japanese businesses relocating from China while the U.S. government has been calling for U.S. businesses to either return to the U.S. or … [Read more...] about Vietnam emerges as a major motorcycle market and manufacturing hub

The plan strives to increase the share of renewable energy in the country's power mix to between 67.5-71.5 % by 2050. (Photo: VNA) Hanoi (VNA) - The National Power Development Plan VIII , which has been recently approved by the Prime Minister, aims to ensure national energy security, thus satisfying the country's socio-economic requirements in the time ahead. GDP growth rate of about 7.0% during the 2021-2030 period, and 6.5-7.5% in 2031-2050. ASEAN in terms of power reliability. Additionally, half of the office buildings and homes in the country would be powered by rooftop solar panels by 2030. Illustrative image (Source: EVN) Greenhouse gas emissions from energy production would be cut to around 27-31 million tonnes by 2050 from about 204-254 million tonnes in 2030. VNA … [Read more...] about National Power Development Plan VIII to ensure national energy security

Australian Prime Minister Anthony Albanese spent time visiting a local beer spot in Hanoi to enjoy bia hoi (light Vietnamese draft beer) after he arrived in the Vietnamese capital city on Saturday afternoon. PM Albanese joined a crowd at a draft beer spot on Duong Thanh Street, Hoan Kiem District to drink ice-cold draft beer and have lunch there. The Australian leader sat at the same table as that of Vietnamese Ambassador to Australia Nguyen Tat Thanh and Director of the State Protocol Department Nguyen Viet Dung. Before visiting the draft beer spot, PM Albanese bought a loaf of banh mi, a Vietnamese baguette served with different fillings, for lunch. A staff member of a banh mi stall gives banh mi to PM Albanese. A representative of the Vietnam-based brewer Habeco briefs PM Albanese on the history and development of Hanoi draft beer. PM Albanese jointly says “Mot, hai, ba, do!” (one, two, three, Cheers!) and chats with … [Read more...] about Australian PM tries Hanoi draft beer during visit to Vietnam

Minister of Information and Communications Nguyen Manh Hung presented draft amendments to the Law on Telecommunications before the National Assembly on Friday, arguing that the existence of OTT services in Vietnam means that there must be questions raised regarding their management in order to ensure service quality, safety and security. The draft therefore entails stipulations on the management of telecom services, including data centers, said Hung. The measures and forms of approval also aim to encourage new services to develop, according to the minister. Hung said the development of new satellite technologies has necessitated the completion of management policies regarding trans-national, satellite telecom services in Vietnam, "in order to ensure users’ interests in Vietnam." Le Quang Huy, head of the National Assembly’s Science, Technology and Environment Committee, said OTT services, in essence, use the Internet to provide applications like Zalo, Viber and Telegram. OTT … [Read more...] about Ministry must ‘manage’ Zalo, Telegram to protect users

PM Pham Minh Chinh speaks at the meeting. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on June 3 asked ministries, agencies and localities to push the three engines of export, investment and consumption in order to spur the country's economic growth in the time ahead. Speaking at an online regular meeting between the Government and localities, the leader stressed the need to remove obstacles to production and business, and help enterprises in administrative procedures , interest rates and market expansion. He also urged localities to accelerate the disbursement of public investment capital and the implementation of the socio-economic recovery and development programme as well as national target programmes, and focus on site clearance and material preparations for key projects. Apart from promoting domestic consumption, it is necessary to expand export markets, the PM said, highlighting other tasks such as effectively optimising free trade … [Read more...] about Focusing on export, investment, consumption to boost growth: PM