Food and beverage manufacturing industry

Vietnamese steel industry calling for wider investment from overseas entities, photo Le Toan Posco Yamato Vina Steel JSC, a joint venture between South Korea’s Pohang Iron and Steel Company and Japan’s Yamato Holdings, is contemplating constructing a second facility in Vietnam. Lee Youngwoo, general manager of Posco Yamato Vina, wants to “establish a robust sales network” across Vietnam while enhancing scrap supply security. In 2020, Posco Yamato Vina was the first to manufacture wide H-shaped steel in Vietnam. According to Lee, the business built a representative office in Haiphong last year in order to “create additional prospects for collaboration” with clients. In the southern province of Ba Ria-Vung Tau, Posco Yamato Vina operates a steel mill with a capacity of one million metric tonnes per year and produces section steel with a capacity of 500,000 tonnes per year. Following a lack of foreign investment in steel manufacturing in recent years, many observers see Posco … [Read more...] about Vietnamese steel industry calling for wider investment from overseas entities

“Vietnam’s hospitality market had great momentum before the pandemic, moving from a destination only for experienced travellers, to a place for holiday and leisure travellers. It rivalled international travel hubs like Thailand, thanks to the joint efforts from many industry players,” said Mauro Gasparotti, director of Savills Hotels in the opening presentation on the challenges and opportunities of the industry this year. “However, development outpaced demand, and now we are dealing with the consequences of over development, with incomplete or underperforming projects. The market needs time to readjust. On a positive note, several high-quality hotels and resorts in the country are doing exceptionally well, and they will keep doing so for the foreseeable future. Projects that have been properly implemented and are correctly managed will recover faster,” he added. "Development outpaced demand, and now we are dealing with the consequences of over development, with incomplete or … [Read more...] about Hospitality industry looks to level up

Nguyen Minh Thoai, CEO of DIGI-TEXX Nguyen Minh Thoai, CEO of DIGI-TEXX, last weekend shared his insight at Finovate : Product Day 2 - a Jobhoppin’s event themed “Digitalisation and Automation strategy for operations in financial services” in Ho Chi Minh City. “Finovate: Product Day 2” event shredded lights on how organisations of all industries navigated through uncertainties amidst this period of of hyper-turbulence and change. Businesses that highlight and successfully optimise automation process at the centre of their transformations will have a competitive advantage through complexity. While there's little doubt that automation can yield significant benefits for all kinds of sectors, such as financial services, healthcare services, e-commerce, and real estate, to name a few. Robotic Process Automation (RPA) could relieve humans from repetitive hazardous and unpleasant tasks. “Organisations across the globe are increasingly relying on RPA to carry out routine, … [Read more...] about DIGI-TEXX sets the standards in digital and business process outsourcing services

The call was due to the first quarter (Q1) of the year getting off to a slow start, likely hampering the total performance for the year. Vietnam’s real GDP growth in Q1/2023 decelerated to 3.32 per cent on-year, and from 5.92 per cent in Q2/2022, missing both the UOB and consensus forecasts. The main cause for the weak performance was due to manufacturing, which dipped into negative territory with a 0.4 per cent decline, for the first contraction since Q3/2021. The sector undershot estimates considerably and saw the slowest pace of expansion since that 6 per cent fall over 18 months ago, when the economy was in a state of shutdown during the pandemic. UOB said that the main cause for the manufacturing sector’s poor performance came primarily from weak external demand, which was largely expected. Exports in Q1 fell just under 12 per cent on-year to $79.2 billion, compared with an almost 13 per cent increase in the same quarter last year, while imports declined by over 14.5 per cent, … [Read more...] about UOB trim GDP growth forecast for Vietnam

The plan's implementation seeks to capitalize on Hanoi's import-export advantages and promote the city's socioeconomic development toward green growth and rapid and sustainable progress. Hanoi aims to sustain an annual export growth rate of 4.4-5% between 2023 and 2025 and 5.1-5.5% between 2023 and 2030. Electronics production at Channel Well Technology Vietnam at Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times The goals were included in the action plan to achieve Hanoi's import-export strategy until 2030, which was signed off on March 30 by Vice Chairman of the municipal People's Committee Nguyen Manh Quyen. The implementation of this plan seeks to leverage Hanoi's import-export advantages and support its socioeconomic development toward green growth, rapid and sustainable progress, and a stable growth rate in import-export activities. The emphasis is on the direct export promotion of key and advantageous city goods and attracting … [Read more...] about Hanoi targets annual export growth of 5.5% until 2030

This is significant content in the Vietsovpetro’s roadmap for digital transformation approved by the Vietnamese and Russian leaders at the 54th and 55th Vietsovpetro Council meetings. The ceremony aimed to complete Vietsovpetro’s road-map for digital transformation and carry out the contract signed by Vietsovpetro and FPT-Petrosouth on March 24. Addressing the event, Mr. Tran Quoc Thang, Deputy Head of the Steering Committee for digital transformation and Vietsovpetro Deputy General Director for Science and Technology, underlined that there are three key requirements for Vietsovpetro’s digital transformation project. Firstly, the building of the strategy for digital transformation and the development of the IT Master Plan must be associated with optimizing the use of existing information technology infrastructure, management and production software. Next, digital transformation must bring about practical effects for the production. Finally, digital transformation in Vietsovpetro’s … [Read more...] about Vietsovpetro kicks off project on digital transformation

Speaking at the event, Stefan Oelrich, member of the Board of Management at Bayer AG and president of Bayer’s Pharmaceuticals Division said, “The transformation of our pharma business is progressing well. With bold investments in industry-leading technology platforms, we have bolstered our research and development (R&D) capabilities and strengthened our early development pipeline. Our strategy aims to deliver new medicines to patients quickly and drive sustainable growth." Bayer used the occasion to showcase how its investments in strategic technology platforms have accelerated its medical and digital innovations and will advance the company’s leadership ambitions in cardiology, oncology, and radiology. In addition, Bayer provided insights into its innovation strategy, comprising enhanced R&D capabilities in key areas. Taking the lead in oncology The company has doubled its portfolio of oncology treatments over the past five years, with nearly one third of … [Read more...] about Bayer accelerates innovation in Pharmaceuticals

Inspectors examine a container at Cai Lan port in Quang Ninh province. More ports need to be built to promote inter-regional ties. (Photo: VNA) Thai Binh (VNA) - The Red River Delta is a region of geopolitical, economic, cultural, and social importance to Vietnam , according to Minister of Planning and Investment Nguyen Chi Dung. The minister made the remarks at a seminar "Promoting investment, trade, and services to strengthen inter-regional ties" held on March 30 in Thai Binh province. He said in more than 15 years, the region saw a remarkable economic advancement with an average annual growth rate of 8.93%, far higher than the country's level. In 2022, its GDP hit 2.89 quadrillion VND (123 billion USD), contributing to nearly one-third of the national GDP. Its income per capita was 1.3 times as high as the national average, at 123.4 million VND per annum. Despite the impressive economic growth, the region still faces some major obstacles. First, its transition … [Read more...] about Red River Delta – national economic powerhouse: Official

Cat Lai Port in HCM City. Viet Nam will focus on enhancing the competitiveness of the logistics sector. — VNA/VNS Photo Viet Nam will focus on enhancing the competitiveness of the logistics sector and removing bottlenecks in the sector in order to promote trade and investment with India, an official has said. Speaking at a meeting on Thursday in HCM City, Pham Thi Ngoc Thuy, director of the Office of the Private Economic Development Research Committee, said there was immense potential for improvement in bilateral trade between Viet Nam and India, especially in the logistics sector. Viet Nam’s heavy investment in infrastructure development has created significant opportunities for logistics enterprises, she said. In addition to logistics, other key investment sectors include hi-tech agriculture, food processing, renewable energy, the supporting industry, healthcare, education, infrastructure, and tourism, among others. Bilateral trade between the two countries has grown … [Read more...] about Viet Nam to enhance competitiveness of logistics sector