Direct sourcing supply chain

The following is the full text of the interview. Reporter: This year marks the 50th anniversary of diplomatic relations and 10th anniversary of strategic partnership between Singapore and Vietnam. How do you evaluate the Singapore-Vietnam relations in the past half century, especially in the last decade? What should the two countries do to further our bilateral cooperation and to advance the development of each country? Vivian Balakrishnan: The ties between Singapore and Vietnam have grown from strength to strength since we established diplomatic relations 50 years ago. We are longstanding friends and close partners that enjoy wide-ranging cooperation in many areas, both bilaterally and at multilateral fora. I am heartened that the bilateral relationship has continued to expand and evolve to tackle new challenges over the past decade. Our linkages are particularly strong in trade and investment. The 12 Vietnam-Singapore Industrial Parks (VSIPs) across Northern, Central, … [Read more...] about Prime Minister Pham Minh Chinh’s visit to enhance Singapore-Vietnam relations: Singaporean Foreign Minister

Prime Minister Pham Minh Chinh's visit to Singapore aims to affirm both nations’ desire to take their economic connectivity to new heights in the context of a series of new-generation free trade agreements (FTAs) coming into effect and being implemented. Prime Minister Pham Minh Chinh (L) and his Singaporean counterpart Lee Hsien Loong PM Chinh, his spouse, and a high-ranking delegation of Vietnam will pay an official visit to Singapore from February 8 to 10 at the invitation Singaporean PM Lee Hsien Loong. The visit takes place amid the dynamic and strong development of the Vietnam - Singapore strategic partnership across multiple fields. This year will see the two countries celebrate the 50th anniversary of their diplomatic relations and the 10th anniversary of their strategic partnership. In 2022, the exchange of delegations and high-level meetings between the two countries was maintained both regularly and effectively. This saw a trip to Singapore by … [Read more...] about PM’s Singapore visit to take economic co-operation to new heights

HDBank has achieved 105 per cent of the 2022 targets approved by shareholders. The bank hopes to maintain its high growth momentum with an average rate of more than 25 per cent in the next five years. — Photo courtesy of the bank The Ho Chi Minh City Development Joint Stock Commercial Bank has announced its results for 2022, which show it exceeded all its targets and achieved high growth. Its profit before tax was VND10.27 trillion (US$435.8 million), up 27.2 per cent from 2021 and 105 per cent of the target approved by sharehoders. Its net fee income grew dramatically, while its prudential and profitability ratios were among the best in the industry. The total operating income topped VND5.87 trillion ($249.1 million) for the fourth quarter and VND21.97 trillion ($933 million) for the entire year, a year-on-year increase of 26.8 per cent and 31.1 per cent. The net interest income grew by 29.7 per cent and the net fee income by 53.4 per cent. Operating expenses and credit … [Read more...] about HDBank profits top $436m in 2022, 105 per cent of target

Rescuers in Turkey and Syria braved frigid weather, aftershocks and collapsing buildings Tuesday, as they dug for survivors buried by an earthquake that killed more than 5,000 people. Disaster agencies said several thousand buildings were flattened in cities across a vast border region -- pouring misery on an area already plagued by war, insurgency, refugee crises and a recent cholera outbreak. Through the night, survivors used their bare hands to pick over the twisted ruins of multi-storey apartment blocks -- trying to save family, friends and anyone else sleeping inside when the first massive 7.8-magnitude quake struck early Monday. "Where is my mum?" asked a distraught seven-year-old girl who was pulled -- her face, hair and pyjamas covered in dust -- from a collapsed building in Hatay, on the Turkish side of the border. Police officer Zekeriya Yildiz hugs his daughter after they saved her from the rubble in Hatay, southwest Turkey on February 6, 2023. Photo: … [Read more...] about Earthquake kills more than 5,000 in Turkey, Syria

Established last December between Vietnam and the International Partners Group (IPG), the Just Energy Transition Partnership (JETP) could facilitate Vietnam in achieving its goal of net-zero by 2050 and a future for green power. Chan Hong and Vi Nguyen, lawyers, Dentons LuatViet, Dentons Global Highlights of Vietnam JETP $15.5 billion to be mobilised An initial amount of at least $15.5 billion will be deployed over the next 3 to 5 years through a combination of financial instruments with the following breakdown: • IPG members will mobilise half of that total ($7.75 billion) through public sector financing, likely on more attractive terms than Vietnam could secure in the capital markets. • Glasgow Financial Alliance for Net Zero Working Group (GFANZ) members will work to mobilise and facilitate the other $7.75 billion through private financing, once the public sector financing has been secured by the IPG. JETP Resource Mobilisations Plan The initiative … [Read more...] about $15.5 billion in financing for green energy from Just Energy Transition Partnership

The remaining top 10 markets in the category are: Columbus, Santiago, Johannesburg, Atlanta, Nashville, Phoenix, Austin, Denver, and Chicago, according to a report released by Cushman & Wakefield Vietnam on February 2. The annual report, now in its fourth year, ranks major data centre markets around the world according to 13 weighted categories including market size, connectivity, power cost and environmental risk to determine the top overall markets in each category. According to the latest Q4 2022 Ho Chi Minh City marketbeat report, the average rental price reached $159 per sq.m per lease cycle, up 3 per cent on the quarter and 10 per cent on-year. Vietnam is a frontier data centre market Vietnam may be a frontier data centre market, but it has numerous fundamentals that would suggest great potential for development. The country currently has 70 per cent internet penetration, with an estimated 29 million people yet to get online. Over 48 per cent of Vietnam’s … [Read more...] about Ho Chi Minh City among top markets for data centre development

The article wrote that since he was young, witnessing Vietnam being oppressed, poor and hungry, Nguyen Tat Thanh (President Ho Chi Minh) nurtured an aspiration to find a way to save his country and bring independence to the Vietnamese people. After a 30-year journey abroad searching for national salvation with revolutionary activities in 28 countries globally, he always held a strong belief and aspiration for national independence. In 1941, he returned to the country and directly led the Vietnamese revolution. From 1941 to 1945, he led the Vietnamese people through myriad difficulties to the great victory of the August Revolution in 1945. After the Democratic Republic of Vietnam was established, President Ho Chi Minh wished to make the country wealthy, bring freedom, well-being and happiness to the people, it stressed. In his Testament, President Ho Chi Minh expressed his final wish that “the entire Vietnamese Party and people stay united and build a peaceful, unified, … [Read more...] about Lao newspaper praises growth of Communist Party of Vietnam

Entering 2023, Microsoft and Google announced global lay-offs of 10,000 and 12,000 employees, respectively. IBM laid off nearly 4,000 members, while Spotify cut about 6 per cent of staff. Since November last year, Meta, Amazon, and HP have also adjusted thousands of positions. Tech lay-off wave continues to bite at Vietnam’s heels, Illustration photo/ Source: freepik.com In Southeast Asia, Shopee parent company Sea Group, Crypto.com, e-commerce platform JD.ID, and GoTo – a merger between ride-hailer Gojek and e-commerce platform Tokopedia – are among the companies that experienced a drastic staff cut in the past year. GoTo in November 2022 cut 1,300 jobs, equivalent to 12 per cent of the number of employees, while Sea Group let go of 7,000 employees in the past six months. Both companies cited a common cause being challenging macroeconomic conditions. Industry insiders in Vietnam are generally wary of the effect this laid-off wave might have on the domestic market. … [Read more...] about Tech lay-off wave continues to bite at Vietnam’s heels