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Chairman of the Vietnamese National Assembly (NA) Vuong Dinh Hue (R) and Managing Director in Bulgaria headquarters of Denmark’s DSV Group Krasimira Vandeva. (Photo: VNA) Sofia (VNA) – Chairman of the Vietnamese National Assembly (NA) Vuong Dinh Hue hosted separate receptions in Sofia on September 25 for M&A Director of Bulgaria’s SoPharma Group Dimitar Naydenov, and Managing Director in Bulgaria headquarters of Denmark’s DSV Group Krasimira Vandeva. At these meetings, Hue said one of the focuses of his official visit is to seek opportunities and promote trade, investment and business activities between Vietnamese and Bulgarian enterprises in particular and others in Europe. Appreciating the cooperation of SoPharma, a leading pharmaceutical company from Bulgaria operating in Vietnam, he said Vietnam identifies investment in protecting, caring for and improving people's health as investment in development. Chairman of the Vietnamese National Assembly (NA) … [Read more...] about NA Chairman receives leading officials of Bulgarian, Danish groups in Sofia

SKC, a chemical unit under the energy-to-telecom conglomerate SK Group, said on September 25 that the factory of Ecovance, a joint venture between SKC and two other South Korea partners, will be established in Vietnam's northeastern city of Hai Phong to manufacture polybutylene adipate terephthalate (PBAT), a biodegradable co-polymer widely used as feedstock for general plastics. The facility is set to go operational in 2025 and produce 70,000 tonnes of PBAT a year. Officials of SKC and Ecovance visited Hai Phong on September 22 for a ceremony where Vietnamese authorities presented them with an investment registration certificate. Ecovance specializes in developing PBAT with enhanced durability. PBAT is extensively used in general purpose plastics, from industrial films and food containers to diapers and masks. SKC will also be building a separate facility to produce an annual 36,000 tonnes of its biodegradable material, named Limex, at the same site, according to the firm. … [Read more...] about SK Group to build biodegradable material factory in Vietnam

The agreement to implement Temenos' Corebanking T24 system was formalised in Hanoi on September 22. The system’s deployment is anticipated to streamline LPBank’s operational processes and reduce both time and costs associated with implementation, thereby promoting enhanced revenues and service quality while catering to the diverse needs of the bank’s clientele. This pivotal move forms a cornerstone of LPBank’s extensive digital transformation strategy, aligning with its ambition to progressively establish itself as a premier retail bank that is accessible to all. Temenos’ Corebanking T24 is operational in over 3,000 banks worldwide and favoured by major Vietnamese banks such as MB, Sacombank, and VPBank. The deployment of this system paves the way for LPBank to escalate its growth trajectory and materialise its vision, enriching customer experiences and interactions across the board by leveraging advanced technology. Post-deployment, the T24 system is poised to augment … [Read more...] about LPBank partners with Temenos to drive next-gen banking solutions

Workers check a production line at the Trung Nam Electronic Manufacturing Services in Đà Nẵng's Information Technology Park. Samsung group will support two businesses to build smart factories in Đà Nẵng City. — Photo courtesy of Quang Huy Samsung Việt Nam will help two businesses – Trung Nam Group and Tân Long Paper and Package Company – build the first smart factories in the central city as it nears the target of making it a ‘smart and green’ urban area. The city’s trade and industry department said the plan is part of the Memorandum of Understanding (MoU) signed by Samsung Việt Nam, the Ministry of Trade and Industry and the city’s department. Samsung will survey the two factories for options of applying smart production lines and management from September to December of 2023. Last year, Trung Nam Group, in cooperation with Xelex Corporation, rolled off the first production lines locally-made Xelex tablets at the Trung Nam Electronic Manufacturing Services in Đà Nẵng's … [Read more...] about Samsung supports local businesses building smart factories

Many young people around Việt Nam have created start-ups by harnessing local natural resources. — Photo nld.com.vn More and more start-ups by young people in rural areas are capitalising on the rich and diverse local resources. Đặng Dương Minh Hoàng, director of the Bình Phước Province Digital Agricultural Service Cooperative, said they are developing rapidly thanks to a trend of people leaving cities for the countryside and improving traffic connectivity and technologies. "Many young people leave the city with some capital, land from their families and connections to start a business. “This generation will create a change in the countryside because they create new products from these indigenous resources and have an understanding of market demand in the cities.” Provinces have many training programmes to promote rural start-up eco-systems, start-up communities are being created and they shared experiences to develop together, he said. Trần Đăng Đạt, co-founder of Đạt … [Read more...] about Việt Nam’s abundant indigenous resources help foster start-ups

An overview of the meeting between Prime Minister Pham Minh Chinh and Brazilian businesses . (Photo: VNA) Sao Paulo (VNA) – Prime Minister Pham Minh Chinh on September 24 asked Vietnamese and Brazilian businesses to concretise cooperation mechanisms with specific programmes and projects, with an aim to bring two-way trade turnover to 10 billion USD by 2025, and 15-20 billion USD by 2030 in a more balanced direction. PM Chinh, who is in an official visit to the South American country, stressed that after nearly 35 years of the establishment of diplomatic ties, the bilateral relations have developed positively in all fields. Vietnam and Brazil are currently each other's largest trading partner in Southeast Asia and South America, with their trade turnover reaching a record level of about 6.78 billion USD in 2022, up 6.6% year-on-year, and by threefold in the past decade. However, investment cooperation remains very modest, as Brazil currently has six valid projects … [Read more...] about Vietnamese, Brazilian firms asked to work together to raise trade to 10 billion USD

At the forum, held also thanks to the Swiss State Secretariat for Economic Affairs and the Australian Department of Foreign Affairs and Trade, speakers emphasised the substantial challenges faced by the climate finance sector in Vietnam in aligning significant investment opportunities with environmental objectives. This sentiment was shared by Allen Forlemu, the IFC's regional industry director for Financial Institutions Group, Asia-Pacific, when he said, “It is evident that climate change is an increasingly disruptive factor for Vietnam's economy, and the costs are already starting to undermine growth. In 2020, Vietnam lost $10 billion, or 3.2 per cent of its GDP, to climate change impacts.” “If nothing is done, costs will only rise. In a business-as-usual scenario with limited global mitigation efforts, climate change could cost Vietnam up to 14.5 per cent of GDP annually in roughly 30 years, with the potential to push a million people into extreme poverty in less than a decade,” … [Read more...] about Forum discusses impact of climate change

Diversifying sales and marketing channels has helped mooncake producers sell out products before the Mid-Autumn Festival arrives next weekend. — Photo courtesy of KIDO Group Diversifying sales and marketing channels has helped mooncake producers sell out products before the Mid-Autumn Festival arrives on Friday. In the past, when e-commerce and social media were not strongly developed, mooncakes were sold through traditional channels such as supermarkets and local traditional markets. People could also buy them at booths companies set up on roads. With the strong development of e-commerce platforms and social media, these have become the main channels helping mooncake makers reach their sales targets, often resulting in selling out products even before the Mid-Autumn Festival begins. Instead of visiting mobile booths selling mooncakes in person, customers can now conveniently browse and purchase them online using their phones. A plethora of advertisements and reviews about … [Read more...] about Mooncakes sell out as companies use multiple sales channels

Vietnam boasts a wide range of famous dishes such as pho (soup consisting of broth, rice noodles, herbs, and meat – usually beef or chicken), banh mi (baguette filled with cold meats, pâté, and vegetables), and che (sweet dessert), with pho the top favorite of foodies, said Aoyagi Yoichiro, a member of Japan's House of Representatives. Falling in love with pho ' at first sight' two decades ago, the Japanese congressman since then has seen the bond between him and Vietnam grow through cultural exchanges. “Through these events, we hope that Vietnam and Japan will learn more about each other’s culture and tighten their bilateral ties,” Aoyagi told Tuoi Tre (Youth) newspaper at the Japan Trend Festival held in Ho Chi Minh City last weekend that he served as head of the organizing board. Aoyagi first came to Vietnam in 2003 to attend the annual IPU Global Conference of Young Parliamentarians. His first impression of this Southeast Asian country was that it looked … [Read more...] about Many Japanese approve of pho: Japanese congressman

The article wrote that Vietnam and Brazil have maintained long-lasting and stable cooperative relations since the two countries established diplomatic ties on May 8, 1989. Since then, there have been many high-level delegation exchanges between the two nations, notably, the official visit to Brazil in May 2007 by then General Secretary of the Communist Party of Vietnam Nong Duc Manh and the visit to Vietnam in July 2008 by Brazilian President Luiz Inácio Lula da Silva. Leaders of the two nations also met on various occasions, and pledged to further strengthen the bilateral ties. Most recently, Prime Minister Pham Minh Chinh met with President Lula da Silva on the sidelines of the expanded G7 Summit in Japan in May 2023. The relationship between the parliaments and the Parliamentary Friendship Groups of the two countries has also been developing, contributing to the expansion of the Vietnam - Brazil collaboration, through the signing and implementation of 16 cooperation agreements … [Read more...] about Promising future of Vietnam – Brazil cooperative relations