Garment textile workforce

Hanoi's GRDP growth in the first half of this year shows the economic recovery with the development of many key industries. Hanoi's economy has posted solid growth in the first six months of 2022, director of the municipal statistics bureau Dau Ngoc Hung said at a press conference on June 30. The city's gross domestic product (GDP) has expanded by 7.79% compared to the same period last year, in which, growth in the first and second quarters was 6.02% and 9.49%, respectively, Hung said. He stressed that GRDP growth in the first half of this year is higher than that in the six-month periods in recent years, showing a clear trend of recovery and development quarter after quarter of key industries. In addition, the services sector in the first six months of the year increased by 9.05% year-on-year (with increases of 6.4% and 11.68% in the first and second quarters, respectively) and contributed 5.91 percentage points to the growth of GDP. Director of the Hanoi … [Read more...] about Hanoi’s economy posts solid growth in first half of 2022

Caitlin Wiesen, resident representative of the United Nations Development Programme in Vietnam In an effort to cope with the climate emergency and environmental pollution, as well as biodiversity, in March the world’s environment ministers endorsed a resolution to lay the foundation for preparation of an international and legally-binding agreement to end plastic pollution by 2024. For the first time, the contributions of the informal waste workers - who are typically low-paid workers who collect recyclable waste - have been recognised in an environmental resolution. The intergovernmental negotiating committee will consider the lessons and best practices from the work of informal waste workers. While this inclusion is something to celebrate, there was no specific mention of women and the gendered aspects of the informal waste sector. Yet globally, women make up the majority of the workforce working in the informal waste management sectors. Here in Vietnam, over 60 per cent of … [Read more...] about 3Vs for gender-inclusive circular era

Vietnam expects to create the utmost favorable environment for foreign companies to be successful in the country. Chairman of the National Assembly Vuong Dinh Hue on June 29 held several meetings with executives of UK multinationals, including Prudential, Standard Chartered, Pacific Land, Pearson, and Enterprize Energy. All executives have expressed their good impression and pledged to commit long-term presence in Vietnam. NA Chairman Vuong Dinh Hue and President of Prudential Shriti Vadera. Source: VNA President of Prudential Shriti Vadera said the company's business performance was positive during the Covid-19 pandemic, expressing her delight to be part of Vietnam’s development. Vadera suggested Prudential could further contribute to the country’s economic growth  by taking part in the long bond issuance. Chairman Hue welcomed Prudential’s successes in Vietnam, saying insurance corporations remain key partners of the State in Government bond issuance. … [Read more...] about UK multinationals pledge long-term presence in Vietnam

NA Chairman Vuong Dinh Hue (R) meets with Prudential Chairwoman Shriti Vadera in London on June 29. (Photo: VNA) London (VNA) – National Assembly (NA) Chairman Vuong Dinh Hue received leaders of some enterprises of the UK in London on June 29 (local time), part of his official visit to the European country. Talking to Prudential Chairwoman Shriti Vadera, the NA leader congratulated the firm on its successes in the world as well as in Vietnam, expressing his hope that it will continue operating successfully in the country and fulfill its social responsibility. He affirmed that the Vietnamese Government and NA are ready to consider and deal with the problems facing businesses, including those from the UK, when operating in Vietnam. Vadera said Prudential is delighted to be part of the country’s development, and it can help with this process by issuing long-term bonds. The insurer pledges to cooperate with the Vietnamese Government in green investment, insurance … [Read more...] about NA Chairman receives leaders of British enterprises in London

Many people remain surprised by record-beating petrol prices, Le Toan The Ministry of Industry and Trade (MoIT) last week warned that prices of fuel, commodities, and input materials, especially imported ones, are forecasted to continue hovering at a high level, causing a continued hike in prices of goods in the domestic market and greatly affecting business and production activities. “The Russia-Ukraine conflict continues to have major impacts on the supply chains and on prices of crude oil from Russia, pushing up prices in those markets and accordingly pressuring prices in the world market. Increased prices of key goods including petrol and gasoline, fertiliser, and foodstuffs will affect Vietnam’s production activities,” said an MoIT report on Vietnam’s industry and trade situation. “In addition, the drastic implementation of the government’s economic stimulus packages will spur economic growth but increase inflation pressure.” By late last week, the global average price of … [Read more...] about Immediate hike risks tackled as inflation squeezes workers

Businesses from abroad hope the government can create a strong roadmap for digital transformation in manufacturing, processing, and more - Le Toan After a decade in Vietnam, Israeli CEO of Renova Cloud Doron Shachar now sees high demand for cloud and big data analytics in the Vietnamese market, and is making plans to tap into this growth potential, including an increase in headcounts. He told VIR, “We already foresee a big gap in those skills. We look forward to contributing to the market’s growth with our abilities, experience, and building skills while supporting enterprises and small- and medium-sized enterprises in their cloud journey.” Cloud adoption is increasing in Vietnam – together with food and beverage manufacturers, many others in sectors like manufacturing and supply chain have begun to explore cloud opportunities, and the ecosystem has grown and expanded significantly, along different verticals and in different sectors. According to the Ministry of Information … [Read more...] about More tech-related legislation sought for foreign businesses

Major tech-based companies like Samsung and Intel already have a presence in Vietnam, but the country is seeking even more, Photo: Le Toan The Fortune Global 500 goal is a highlight of Vietnam’s strategy for foreign investment cooperation for the 2021-2030 period. At a conference on strengthening Vietnam-Japan cooperation and development organised in the northern province of Vinh Phuc last week, Masuoka Hiroyoshi, general director of Thang Long Industrial Park Company, said that the group is continuing to survey locations to develop industrial zones, following Thang Long I and II industrial parks (IPs) in Hanoi and the northern province of Hung Yen and Thang Long IP in the northern province of Vinh Phuc. Sumitomo Corporation is one of the groups listed on the Fortune Global 500, and has operated IPs for over 20 years in Vietnam. “Since first entering Vietnam, the corporation has received support from the government, relevant authorities, and localities in completing … [Read more...] about Vietnam going for gold with Fortune Global 500 attraction

Prime Minister Pham Minh Chinh, at his meetings with Vietnamese farmers and agricultural businesses a few weeks ago, cited the success of TH Group as a fine example of high-tech agricultural development, and the circular economic model being pursued by the government. Famous for its TH true MILK brand, TH Group has been operating a $1.2 billion farm cluster project in the central province of Nghe An, featuring a state-of-the-art dairy cow farm and fresh milk production plant. The facility, which has a total annual capacity of 500,000 tonnes, hopes to quadruple the number of cattle to around 200,000 by 2025. To save production costs, TH Group has been operating a state-of-the-art system of solar power panels on the roofs of the farm cluster, and the system has been connected with the national power grid. As of last year, power produced from the panels has met one-fifth of the farm’s electricity demand. In 2019, TH Group began to use straws made from advanced bioplastics. This … [Read more...] about Businesses get set for circular economy

the Vietnam-Turkmenistan Business Forum takes place in Hanoi on June 29. (Photo: VNA) Hanoi (VNA) - The Vietnam-Turkmenistan Business Forum has provided an ideal venue for enterprises from both sides to seek cooperation opportunities in the near future, according to insiders. This statement was made by Deputy Minister of Foreign Affairs of Turkmenistan Vepa Hajiyev at the Vietnam -Turkmenistan Business Forum in Hanoi on June 29. The event is part of a range of activities taking place to mark the visit by a delegation of more than 40 Turkmenistan enterprises led by the Deputy Minister Hajiyev from June 29 to July 1. Upon addressing the event, Deputy Minister Hajiyev highlighted the country's great efforts made to promote diplomatic ties and economic cooperation between the two countries over the past 30 years. He emphasised the need to boost trade exchanges and investment attraction between both sides, especially in advantageous areas. At present, Turkmenistan … [Read more...] about Vietnamese, Turkmenistan firms enhance business cooperation