Eco industrial park china

Kevin Coppel, Asia-Pacific managing director (left ) and Christine Li, Asia-Pacific head of research for Knight Frank in Singapore When the US-China trade tensions bubbled over in 2018, corporates found it increasingly difficult to carry out business in China due to sourcing uncertainties and rising costs. This trend only worsened in the face of the pandemic and resulting border closures. Businesses responded by pursuing opportunities to set up bases outside of China while still retaining a stake in one of the world’s strongest economies. The China+1 strategy thus emerged. It is based on diversifying its supply base into other countries in order to minimise the risk of disruptions arising from geopolitical tensions, trade wars and tariffs, as well as rising labour costs. These companies are not abandoning China but rather giving themselves options, enjoying the best of what China and other economies have to offer. In pursuit of the China+1 strategy, the spotlight is naturally … [Read more...] about Will Vietnam become a big geopolitical beneficiary?

Global food prices are expected to keep on rising this year due to the Ukraine conflict and other factors, Photo: Thanh Tung China’s National Bureau of Statistics (NBS) said on May 11 that the consumer price index (CPI), the main measure of inflation and retail sales, increased by 2.1 per cent on-year in 2021 due to the impact of the recession and skyrocketing energy costs and food prices. Data released by the General Administration of Customs of China on April 13 recorded a decrease in China’s imports for the first time since August 2020. In March, China’s imports fell 0.1 per cent on-year. Assoc. Prof. Dr. Vu Sy Cuong from the Academy of Finance warned last week, “Along with the conflict in Ukraine, China’s economic difficulties could exacerbate inflationary pressures in Vietnam.” China’s slowing growth is clearly felt by many manufacturing and export industries of Vietnam. Pham Van Viet, president of garment firm VitaJean Co., Ltd., said, “Restrictions on raw materials … [Read more...] about Global effects mar control of inflation

More than 800 workers at a garment company in the central province of Quang Nam could lose their jobs after a fire largely damaged their workplace. The fire at Woochang Vietnam Garment Company on May 25 The fire which occurred on May 25 at Woochang Vietnam Garment Company in Trang Nhat Industrial Park, Dien Ban Town had burnt down all materials and equipment at the company's stores and factories. According to the vice-chairman of Dien Ban Town People's Committee, Nguyen Minh Hieu, the fire occurred on an area of 1.5 hectares while 760 workers and 50 managers were working. "The fire has caused big losses for the company," the official said. "Three wharehouses and many factories have totally burnt down." A worker, Nguyen Ngoc Hung said that he was very sad to see his company facing this situation. "Myself and many other workers had a stable job and income here after two years of being badly affected by the Covid-19 pandemic," he said. "But now we may be … [Read more...] about Over 800 workers face job losses following company fire in Quang Nam

The Hanoi government will improve mechanisms and policies to encourage the participation of the private sector in the field of high-tech agriculture. Hanoi needs to remove two barriers of capital and land to attract businesses to invest in high-tech agriculture, according to local media. Applying high-tech in agriculture is inevitable for the capital city’s farming sector, especially in face of the Industrial Revolution 4.0 which has strong impacts on socio-economic life. In order to remove the agricultural development hindrance, the Hanoi government has implemented a number of solutions such as providing businesses, cooperatives, cooperative groups, farms, and households with money from the city's funds for processing and conservation of high-tech agricultural products. Tending hydroponic vegetables at Duc Phat High-tech Agricultural Cooperative (Thanh Tri district). Photo: Ba Hoat In particular, under the Hanoi Agricultural Sector’s restructuring plan … [Read more...] about Hanoi needs to remove barriers to develop high-tech agriculture

Animals Asia is carrying out a plan to build its second bear sanctuary in Vietnam which has just been approved by the local Ministry of Agriculture and Rural Development. Visitors watch a bear in Tam Dao National Park in northern Vinh Phuc Province. Photo by Animals Asia According to Animals Asia, the new centre will be built in the Bach Ma National Park, located between the cities of Hue and Danang. It will be a home for 300 gall bears. With this new centre, Animals Asia hopes to rescue these last 300 Vietnamese gall bears, bringing a memorable end to the bear bile industry in Vietnam. The new centre will have a total area of 12.7 hectares with 12 houses for bears and 12 semi-wild areas. The project has an investment of about USD 10.50 million funded by AAF and is expected to be completed by 2026. The second bear sanctuary is planned while the first one located in Tam Dao National Park in northern Vinh Phuc Province is getting overloaded after being … [Read more...] about Second bear rescue centre to be built in Vietnam

Vietnam expecting to spend even more on imports - illustration photo Southeast Asia is facing rising inflation, a problem that is exacerbated by the failure of energy and food prices to fall. Last month, the Monetary Authority of Singapore (MAS) tightened monetary policy for the third time since October to deal with inflation that is expected to heat up. According to analysts, the MAS has redefined the midpoint of the popular exchange rate policy band and slightly increased the slope of currency appreciation to help the Singapore dollar strengthen against the currencies of other countries. However, the MAS did not change the width of its policy band – a move the institution usually would take when markets are volatile. As a result, the Singapore dollar rose about 0.5 per cent to $1.35 after the MAS’ move. The agency considered the possibility that core inflation would pick up sharply in the coming months, before being revised later this year, due to the sharp increase in … [Read more...] about Vietnam expecting to spend even more on imports

Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability

Hanoi (VNA) – The Ministry of Trade and Industry (MTI) of Singapore on May 25 predicted that the country's GDP growth this year may reach only 3-4 percent, lower than the previous forecast of 3-5 percent for this year. In a statement released the same day, the ministry said that Singapore maintained its 3-5 percent economic growth forecast for 2022, but warned that growth will likely come in at the lower half of the forecast range because of the impact of the war in Ukraine and China's strict COVID-19 lockdowns . The conflict has disrupted the global supply of energy, food and other commodities, which has in turn exacerbated global inflationary pressures and adversely affected the growth of many economies, said the statement released with the first-quarter 2022 Economic Survey of Singapore . The ministry said that as a result of the war and lockdowns, global supply disruptions are likely to be more severe and prolonged than earlier expected, potentially persisting … [Read more...] about Singapore’s GDP may expand only 3-4 percent this year