Gdp growth

The five-day visits of Vietnam’s National Assembly Chairman Vuong Dinh Hue to Hungary and the UK marked a new milestone in bilateral relations, eventually contributing to the Vietnam-EU partnership. The Chairman’s official visit to Hungary was significant amid the 72nd anniversary of diplomatic relations and approaching the five-year mark of the comprehensive partnership (2018 – 2023). In addition, Hungary was Vietnam’s first comprehensive partnership in Central and Eastern Europe, as the former has been actively supporting Vietnam in both multilateral frameworks and also in Vietnam-EU relations. NA Chairman Vuong Dinh Hue and Hungarian Prime Minister Viktor Orban. Source: VNA It was noted worth mentioning that Hungary was the first among EU members that ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA). Chairman of the NA’s Foreign Affairs Committee Vu Hai Ha said meetings between Chairman … [Read more...] about New milestone in Vietnam’s relations with Hungary, UK

Cai Rang floating market in the Mekong Delta city of Can Tho (Photo: VNA) Hanoi (VNA) - The recently-approved master plan for the Mekong Delta region in the 2021-2030 period with a vision to 2050 is expected to create new values and changes towards sustainable and green growth , and long-term prosperity for the region. According to Carolyn Turk, Country Director for the World Bank in Vietnam, the master plan demonstrated the whole-of-government approach and a strong commitment to promoting sustainable development and enhancing the climate resilience of the Mekong Delta. The planning highlighted the new mindset and new vision for the region considered a global hotspot for climate change, she said. A view of Mekong Delta Can Tho city from above (Photo: VNA) Hirai Shinji, Chief Representative of the Japan Trade Promotion Organisation (JETRO) in Ho Chi Minh City, said the master plan has well presented the view that the Mekong Delta’s development is in line … [Read more...] about Master plan targets long-term prosperity for Mekong Delta

The ceremony to sign the deal was held at the Intercontinental Landmark Hotel in Hanoi, and attended by executives from both companies, including Samsung Engineering Executive vice president GyuYeon Kang and DNP Water chairman Ngo Duc Vu. With this acquisition, Samsung Engineering holds a 24 percent stake in DNP Water, DNP Holding owns 53 percent and other stakeholders have 23 percent. DNP Water is a private enterprise that focuses on water supply business in Vietnam and is the largest private water treatment company in terms of capacity. It was spun off from the DNP Group, a manufacturer of plastic pipes, in 2017. Since then it has been growing in the water treatment business by buying private water supply assets and developing new businesses. (From L) Nguyen Van Hieu, DNP Holding CEO, Kang Gyu-yeon, Samsung Engineering EVP and Ngo Duc Vu, DNP Water Chairman at the signing ceremony. Photo by Samsung Engineering The Asian water treatment market is shifting from … [Read more...] about Samsung Engineering acquires stake in water treatment company

On June 29 in Dong Nai, USAID and the Enterprises Development Agency under the MPI organised the workshop themed “Improving packaging technology and design to enhance competitiveness and efficiency”. At the workshop, businesses were updated on information about the latest design technology. Besides this, they received support to design suitable packages with their products to increase their value. One day earlier in Ho Chi Minh City, the two parties also organised a training workshop on the reduction of greenhouse gas emissions and initial solutions for businesses. Rasmus Nedergaard, an expert on sustainable strategic planning, introduced proactive solutions to reduce emissions for businesses. Other experts also introduced updated information on carbon markets, carbon trading, and existing solutions in Vietnam. The two workshops were part of the Vietnam Private Sector Competitiveness Enhancement Project (USAID IPSC) with a total budget of $36 million, which is currently … [Read more...] about USAID cooperates with MPI to ready enterprises for the future

Vietnam exports nearly 2.77 million tonnes of milled rice in the first five months of 2022. (Photo: VNA) Hanoi (VNA) – As many countries in the world have limited food exports to guarantee domestic food security , rice – a staple in most of Asia – is forecast to witness surging prices in the time ahead, which is said to be a chance for Vietnam – one of the world’s largest rice exporters. Vu Thi Hue, head of the export - import division of the Dai Duong Xanh Export - Import Co. Ltd, said while lower wheat output and higher production costs have forced many countries to seek alternatives, rice is a suitable choice with good prices. So a bright prospect could be seen for both export volume and prices in the time ahead. In the first five months of 2022, nearly 2.77 million tonnes of milled rice worth over 1.35 billion USD were shipped abroad, rising 6.6% in volume but declining 4% in value year on year, according to preliminary data from the General Department of Vietnam … [Read more...] about Bright outlook predicted for rice exports

Hanoi (VNA) – The Vietnam Report JSC on July 1 announced the lists of Top 10 most prestigious life and non-life insurance companies in Vietnam in 2022. Accordingly, the 10 prestigious life insurance companies included Bao Viet Insurance, Dai-Ichi Vietnam , AIA Vietnam, Prudential Vietnam, Chubb Vietnam, MB Ageas, Hanwha Life Vietnam, Manulife Vietnam, Generali Vietnam, and Cathay Vietnam. Meanwhile, the top 10 non-life insurance companies in 2022 are Bao Viet Insurance, Posts and Telecommunications Joint Stock Insurance Corporation (PTI), PVI Insurance, Petrolimex Joint Stock Insurance Company (PJICO), Military Insurance Corporation (MIC), BIDV Insurance Corporation, Bao Minh Joint Stock Corporation, VietinBank Insurance Company, Agriculture Bank Insurance Joint Stock Corporation and Saigon-Hanoi Insurance Corporation. Based on the reputation of insurance companies, Vietnam Report made assessments objectively and independently on the foundation of their financial … [Read more...] about Top 10 prestigious insurance firms in 2022 announced

At the dialogue, the RoK side affirmed the importance it attaches to relations with the Association of Southeast Asian Nations (ASEAN). Also, it supports ASEAN’s centrality and pledges to coordinate with the bloc in implementing the ASEAN Outlook on the Indo-Pacific region through practical cooperation programs and activities. The RoK highly valued ASEAN’s contributions to regional peace, cooperation, and prosperity over the past years. Addressing the event, Ambassador Vu Ho emphasized that the RoK is a strategic partner of ASEAN and the country has made significant contributions to the building of the ASEAN Community across three pillars. He suggested the two sides increase cooperation activities towards the people, especially in response and recovery efforts, and work to ensure inclusive growth, and harmonious and sustainable development. The two sides highlighted multilateral trade and economic links, and pledged to effectively implement the ASEAN-Korea Free Trade Agreement … [Read more...] about 26th ASEAN – RoK Dialogue takes place in Seoul

Elon Musk's enterprise delivered 254,695 vehicles from April to June, it said in a statement. That's 27 percent more than the same period a year ago but down 18 percent from the January-to-March quarter of 2022 and the first such decline in more than two years. This marks a disappointment for a company that says it is posting strong growth, touting the opening of two new factories this year, in Germany and Texas. The drop in deliveries was bigger than that anticipated by analysts, who had expected 264,000 vehicles to be handed over to buyers, according to FactSet, a financial data and software company. Tesla warned in April that supply chain snarls hitting the auto industry in general would keep disrupting the company's production until the end of the year. Still, it delivered a record number of cars in the first quarter of 2022. But in the second quarter Tesla had to grapple with the closure of its Shanghai factory for several weeks because of strict lockdown measures in … [Read more...] about Tesla deliveries fall with temporary closure of China factory

A worker at a factory of Hung Viet Garment JSC (Photo: VNA) Hanoi (VNS/VNA) - Textile and garment export turnover in the first six months of 2022 is estimated to increase 23% on-year to about 22 billion USD, reaching the highest level ever, according to the Vietnam Textile and Apparel Association. Of which, the US market played an essential role for the industry. Data from the General Department of Customs of Vietnam showed that textile and garment export s in the first five months of 2022 to the US market increased by 26% over last year to 7.58 billion USD, accounting for 57% of the total value of Vietnam’s textile and garment exports. The newly updated report by Viet Dragon Securities JSC (VDSC) said that these figures imply that the prospects of the country’s textile and garment industry will depend heavily on economic development s in the US market. However, in the second half of 2022, VDSC forecasts that the demand for textiles and garments will tend to decrease … [Read more...] about Textile enterprises’ results mixed in second half of 2022

Capital Place, a Grade A office building (left) in Hanoi. Office real estate market will receive more Grade A office building projects due to increasing demand. (Photo baodautu.vn) Hanoi (VNS/VNA) - Office real estate is thriving, with new Grade A buildings entering the Hanoi market at the end of the year, according to Savills Vietnam. By the end of 2022, six new projects are expected. The only Grade A building will be Techcombank Tower on Quang Trung street. This project follows the opening of another international Grade A building , Capital Place . “Tenants can pick from a variety of new high-quality Grade A properties entering soon, mostly in Hoan Kiem, Ba Dinh and Tay Ho districts. New properties will compete with existing buildings in terms of quality, services and pricing," said Hoang Nguyet Minh, Senior Director of Commercial Leasing, Savills Hanoi. "Hanoi’s office supply is lower than regional peers like Singapore or Bangkok. However, the rents are … [Read more...] about Hanoi market sees strong development in premium offices