Film industry development

An office of Bao Viet Insurance Corporation in Ha Noi. By the end of May 2022, the total insurance premium revenue of the insurance market reached nearly VND94.28 trillion, up 16 per cent over the same period last year. — Photo mof.gov.vn The newly-issued Law on Insurance Business is expected to positively impact the insurance market's long-term development. The National Assembly on June 16 passed the amended Law on Insurance Business, with 94.2 per cent of delegates voting in favour. The revised law will enter into effect on January 1, next year. The Law stipulates the organisation and operation of insurance companies, the rights and obligations of organisations and individuals participating in insurance, and State management of insurance business activities. According to the Ministry of Finance (MoF), the country currently has 77 insurance companies, including 31 non-life insurance companies, 19 life insurance companies, two reinsurance companies, 24 insurance brokerage … [Read more...] about New policy boosts insurance market’s long-term development

At the ceremony honoring 248 workers’ outstanding families The event aims to honor the traditional cultural values of Vietnamese families and give a chance for families to exchange and share their experience in building a cultural family towards the sustainable development of families in the period of industrialization and modernization of the country. The event was co-organized by the Trade Unions and Youth Unions of processing and industrial zones in collaboration with HEPZA (HCMC Export Processing and Industrial Zones Authority) Business Association (HBA). On the same day, the Trade Union of District 5 also organized “Family Day” honoring 111 “prosperous, equal, advanced, happy and sustainable” families. By Thai Phuong – Translated by Kim Khanh … [Read more...] about HCMC honors 248 outstanding workers’ families

Steel roll production lines at Hoa Phat Steel Sheet Co., Ltd, located in the Pho Nui A Industrial Park in the northern province of Hung Yen. Steel is one of key export products from Viet Nam to Thailand, Laos and Cambodia. — VNA/VNS Photo Vu Sinh Vietnamese businesses have many opportunities to increase export goods to Thailand, Laos and Cambodia, according to the Trade Promotion Department of the Ministry of Industry and Trade. Nguyen Thi Thu Thuy, deputy director of the Export Support Center, said that Viet Nam had many favourable conditions for exporting goods to Thailand and Laos because the three countries were close geographically, and members of various free trade agreements. To meet the demand of customers in Thailand and Laos, domestic enterprises are recommended to export goods reaching technical standards and to have import certificates from authorities. They also need to apply advanced technology in processing and preserving products to ensure the quality of … [Read more...] about VN Trade Promotion Department lauds ASEAN export opportunites

Illustrative image (Photo: VNA) Dak Lak (VNA) - Vietnam aims to replant or transplant about 107,000ha of coffee in the 2021 – 2025 period, according to the Ministry of Agriculture and Rural Development (MARD). According to a project approved recently by the ministry, the productivity is expected to rise to 3.5 tonnes of coffee bean per ha, with an income 1.5-2 times higher than before, the ministry said. The combined area in the five Central Highland provinces is projected at around 91,000ha, with Lam Dong making the largest share (36,000ha), followed by Dak Lak (24,000ha), Dak Nong (18,000ha), Gia Lai (11,000ha) and Kon Tum (5,000ha). Other localities like Son La, Dien Bien, Quang Tri, Binh Phuoc, Dong Nai and Ba Ria-Vung Tau will together contribute 16,000ha. The ministry attention will be paid to stepping up scientific and technological application, as well as technological transfer , while building standardised irrigation systems. Harvesting coffee (Photo: VNA) … [Read more...] about Vietnam to replant 107,000ha of coffee by 2025

Representatives of 29 tourism businesses from Ha Noi, HCM City and the north-central region signed agreements to link tourism development on July 1 in Nghe An Province. — VNA/VNS Photo Van Ty Tourism links would boost activity in each locality, contribute to the promotion of local tourism brands in the domestic market and enhance the competitiveness of Vietnamese tourism in the international market, vice chairwoman of the HCM City People's Committee Phan Thi Thang said at a recent forum on linking tourism development. The forum was held in Nghe An Province last Friday to foster tourism links between Ha Noi, HCM City and six north-central provinces of Nghe An, Ninh Binh, Thanh Hoa, Ha Tinh, Quang Binh and Quang Tri. Phan Thi Thang said besides tourism links within the north-central region, the six provinces needed to boost tourism cooperation with key tourism regions, and create unique tourism products. “With experience in developing tourism linkages with other regions, HCM … [Read more...] about Ha Noi, HCM City foster tourism links with north-central region

Ngoc Thao from HCMC, 32, said that one kilogram of bacon now costs between VND150,000-180,000 ($6.43-7.72), depending on whether it is purchased at a traditional wet market or a supermarket. Cheaper cuts of pork, such as cutlet and thigh, range from VND100,000-130,000 per kilogram, which is twice or thrice the price of chicken. "The prices of vegetables, spices and many other things have skyrocketed, but my salary remains unchanged, so I must cut back on my spending on expensive stuff," she said, sighing. "Now our family has meat only for one or two meals per week." A VnExpress survey of livestock farms at the end of June found that the price of live pigs had crossed VND60,000 per kg, a slight increase from previous days. The majority of farmers said the price has increased because the cost of animal feed has increased. Prices of new born pigs have also increased by 20 percent compared to two months ago. According to the Organization for Economic Cooperation and … [Read more...] about As prices rise, Vietnamese fork out less for pork

Workers at a data centre of ICT group CMC Corporation (CMG) in Ha Noi. CMG rose 6.9 per cent last week. — Photo CMG Shares are forecast to return to the downtrend this week as market sentiment stays weak amid low liquidity and a lack of stability for long-term recovery. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased by 0.11 per cent, to end at 1,198.90 points. An average of 544 million shares were traded on the southern exchange during each session last week, worth VND12.3 trillion (US$527.6 million). In the second quarter of 2022, the average trading value of shares reached more than VND17.1 trillion each session on HoSE with the average trading volume reaching more than 589.15 million shares, corresponding to a decrease of 20.02 per cent in value and 18.33 per cent in volume over the same period in 2021. “Cash flow, in general, is still cautious, and the weakening signal at the resistance zone of 1,200 – 1,220 points is still putting great pressure on … [Read more...] about Shares to return to downtrend amid low liquidity

It is six months sooner than previously planned, Tran Quang Lam, the department’s director, said at a meeting attended by Ministry of Transport officials at the weekend. The city amended the plan after the National Assembly said last month it would be allocated funds "soon" to complete Ring Road No.3 connecting it with neighboring industrial hubs by 2025. The House chairman, Vuong Dinh Hue, told lawmakers that the "urgency" of the project has occasioned funding priority for it. Stretching 76 km, the section is expected to cost more than VND75 trillion ($3.21 billion). The entire road will run over 90 kilometers (56 miles) and enable vehicles to travel to Binh Duong, Long An and Dong Nai provinces without having to enter inner HCMC. Lam said after the NA’s announcement that HCMC has worked with the three provinces to concretize construction plans. This month the city would issue a resolution to carry out the project so that site clearance procedures could be completed by … [Read more...] about Work on HCMC ring road to start 6 months sooner

According to Berly D. Alvarez, chairman of the Philippines’s Kaunlad Lending Investors Corporation and a speaker at the 2018 Horasis Asia Meeting held recently in Binh Duong province, Vietnam’s ability to attract FDI is due to its consistent economic reform, a young and increasingly urbanized population, affordable labor, constant improvements to its business climate, and political stability. The fact that it hosted the 2017 APEC meetings highlights its regional economic integration and steadily improving business climate, he added. Vietnam has been attracting investment in infrastructure, including power projects, road and rail construction and renewable energy. Don Lam, CEO of VinaCapital, said Vietnam’s economy remains strong with 6.6 percent growth targeted next year, inflation remaining under control and manufacturing expanding. “More foreign investment is expected to flow into Vietnam in the coming time.” Pakpoom Vallisuta, chairman of The Quant Group Corporation, a … [Read more...] about Vietnam a regional FDI magnet say experts

The route connecting Hanoi to Fukuoka is operated three return flights on Tuesdays, Thursdays and Saturdays every week, the Hanoi - Nagoya one is operated four return flights per week on Mondays, Wednesdays, Fridays and Sundays to serve people and tourists with almost 5 hours flying per leg. After the routes connecting Ho Chi Minh City, Hanoi to Tokyo and Osaka, new routes to Nagoya and Fukuoka have offered more options for passengers when flying with Vietjet between Vietnam and Japan with saving cost, flexible flight schedules. Japan is one of the favorite destinations for Vietnamese tourists with beautiful scenery and unique culture. Fukuoka, in particular, which sits on the northern shore of Japan’s Kyushu Island, is known for many great beaches, ancient temples, the variety of nature as well as the rich culture and historical legacy of Kyushu. Meanwhile, Nagoya is Japan’s third most populous urban area with developed industrial economy and is well-known for its signature … [Read more...] about Vietjet launched direct routes to Japan’s Fukuoka, Nagoya