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?
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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