German franchise association

Hai An Transport and Stevedoring Joint Stock Company's after-tax profits were up 90% from 2021 at VND1.050 trillion (US$44.49 million); Petrovietnam Transportation Corp's (PVTrans) was up 39% to VND1.16 trillion; and Vietnam Petroleum Transport's (Vipco) rose by 25 times to VND246 billion. Other logistics firms too reported excellent numbers. Gemadept’s after-tax profits surged by 60% to VND1.15 trillion, its second highest since 2000 when it first publicized financial statements. Vosco’s profits decreased by 0.4% to VND490 billion, but were still the second highest since it listed on the stock market. Vinalines said profits fell by 23% to VND2.5 trillion, but were still second only to 2021. According to data from Freightos, one of the world’s largest freight booking platforms, the cost of sending a container from Asia to the U.S. fell by more than 80% late last year. In the third quarter of 2021 it had been at a record $20,000 per 40-foot container. But thanks to the … [Read more...] about Big shipping firms report record profits

The latest move from the Fed marked eight consecutive rate hikes since March 2022, with no signs that it has reached the peak of its hike journey. Assoc. Prof. Dr. Dinh Trong Thinh, a financial expert from the Vietnam Association of Financial Advisers, predicted that a rate hike of 25 percentage points was anticipated. Thinh stated that, in general, the pressure on the USD/VND exchange rate from the Fed’s interest rate hike is not significant. Pressure on to support new economic growth, photo Le Toan Dr. Le Dang Doanh, former head of the Central Institute for Economic Management, also believes that the Fed’s interest rate rise is targeted to contain inflation in the US, since inflation has begun to fall from the previous year’s low level. The USD price will adjust as a result. “A change in the price will influence the exchange rate between it and VND, impacting import-export businesses and foreign-invested enterprises,” said Doanh. On the other hand, deposit interest … [Read more...] about Pressure on to support new economic growth

The National Institute of Hematology and Blood Transfusion (NIHBT) and Hanoi Youth Association for Blood Donation on February 6 kicked off the Xuan Hong (Red Spring) Festival – the biggest annual blood donation campaign of the season. People join the Xuan Hong (Red Spring) Festival – the biggest annual blood donation campaign of the season staring on February 6. (Photo: VNA) The one-week event themed “Donating blood in spring, multiplying happiness” expects to receive about 8,000 blood units. Donors can visit one of the seven venues in Hanoi, including the institute, Agricultural General Hospital, No26 Luong Ngoc Quyen in Hoan Kiem district, No10, Hamlet 122, Lang Street in Dong Da district, No78 Ngueyn Truong To in Ba Dinh district and No132 Quan Nhan district in Thanh Xuan district and People's Committee headquarter of Trau Quy Town in Gia Lam district. NIHBT Director Nguyen Thanh Ha said that this year, thanks to the community's efforts, … [Read more...] about Biggest spring blood donation festival kicks off

Participants at the opening of the course (Photo: VNA) Hanoi (VNA) – The Ho Chi Minh National Academy of Politics (HCMA) and the Party Central Committee’s Organisation Commission on February 5 opened a training course to update knowledge for alternate members of the 13th Party Central Committee. Addressing the opening ceremony, permanent member of the Party Central Committee’s Secretariat Vo Van Thuong underlined the significance of the Party’s personnel training work. The 6-week course will focus on 29 topics covering such contents as those associated with the documents of the 13th National Party Congress and the 13th Party Central Committee’s meetings regarding the Party and State building, the promotion of socio-economic, cultural and human development as well as security, defence, external relations, and leadership and management science in the new situation. Permanent member of the Party Central Committee’s Secretariat Vo Van Thuong addresses the opening of the course … [Read more...] about Training course opened for Party Central Committee’s alternate members

Four Vietnamese students from Le Hong Phong High School for the Gifted in the northern province of Nam Dinh won a gold medal at the World Invention Creativity Olympic (WICO) 2023, which recently concluded in the Republic of Korea (RoK). Four Vietnamese students win gold at Invention Creativity Olympic 2023 (Photo: Nam Dinh Newspaper) Their wining invention came from instructions given by Dr. Tran Thi Thanh Xuan, head of the Biology - Technology Department. WICO aims to provide a platform for students from all over the world to come together and create innovations that can be applied in reality. The annual competition is organised by the Korea University Invention Association and supported by the National Assembly of the RoK. This marks the seventh time that Vietnam has attended the WICO and achieved success. In 2019, two inventions by Vietnamese students also won gold medals at the competition. … [Read more...] about Vietnamese students win gold at Invention Creativity Olympic 2023

The final round on February 5 saw the participation of 15 best candidates with the crown given to Le Vu Thuc Anh. Her four runners-up are Tran Minh Ngoc, Chu Ngoc Linh, Ngo Dan Phuong, and Nguyen Ha Thuc Nhi. Miss Spring 2023, themed “Vietnamese Charm in Europe,” is part of VietFest – the biggest event of this year and in the last 20 years organized by the Vietnamese Students’ Association in France (UEVF) with the patronage from the State Committee for Overseas Vietnamese under the Ministry of Foreign Affairs, the Union of Vietnamese Associations in Europe, the Vietnamese Cultural Center in France, and the Union of Vietnamese Youth and Students Associations in Europe. UEVF President Nguyen Phan Bao Thuy said that as 2023 marks many important celebrations such as 50 years of diplomatic relations and 10 years of strategic partnership between Vietnam and France, UEVF organized the biggest community lunar New Year (Tet) celebration to connect generations of Vietnamese people and … [Read more...] about Miss Spring 2023 honors Vietnamese beauty, culture in Europe

Vietnam’s seafood export turnover stood at less than $600 million last month, down 31% year-on-year, according to data from the Association of Seafood Exporters and Producers (VASEP). Pangasius values dropped a whopping 50%. In the last quarter of 2022, pangasius fish export turnovers stood at $475 million, a year-on-year decrease of 12%. However, according to VASEP, pangasius fish exports may be the seafood export industry’s best prospect for 2023, thanks to demand from Vietnam’s two largest markets: China and the U.S. Last year, China and the U.S. accounted for 30% and 23% of Vietnam’s pangasius exports, respectively. And experts say those numbers could increase significantly this year. China’s reopening early last month will help restore consumer confidence, promoting trade between the East Asian economy and Southeast Asia, according to David Liao, co-CEO of HSBC Asia-Pacific. The reopening will help facilitate the export of many Vietnamese products, including pangasius … [Read more...] about Shipments to US, China could rescue slumping pangasius fish exports

Some food and beverage products from a cooperative in Ben Tre province attract consumers. (Photo: vnbusiness.vn) Hanoi (VNS/VNA) - After the Lunar New Year holiday, many cooperatives, especially those in the food and beverage (F&B) sector, have accelerated their production to fulfil domestic and export orders. Ly Hong Tien, Director of Hau Giang Xanh Cooperative in Hau Giang province, told vnbusiness.vn that thanks to the links her cooperative has established with distributors, it was completing many orders of processed that lat fish to serve local demand and that for exports. According to experts, though economic difficulties would continue in 2023, there remained untapped business opportunities for small firms and cooperatives in the F&B industry. Experts said that when an economy was unstable, investors intended to return to industries with high demand as the F&B sector is an essential industry. A recent report by iPOS.vn said that Vietnam had around 338,600 … [Read more...] about F&B cooperatives seize new opportunities amid economic difficulties

Dragon fruit grown in Long An Province. VNA/VNS Photo Red-fleshed dragon fruit is being sold at around VND38,000 per kg and white-fleshed dragon fruit VND25,000 per kg, triple the price from the same period last year, after China eased trade restrictions related to COVID-19. At farms in Cho Gao District in Tien Giang Province, the price of red-fleshed dragon fruit is VND38,000 per kg (for type 1 – the best quality); VND28,000-32,000 (for type 2); and VND23,000-25,000 (for type 3). In Binh Thuan Province, the price of white-fleshed dragon fruit is between VND18,000-25,000 per kg, also triple from the same period last year. A leader of the Thuan Tien Cooperative in Binh Thuan Province’s Ham Thuan Bac District said China is Viet Nam’s main export market, accounting for 90 per cent of dragon fruit exports, so when it resumed border trading, it helped increase prices. Since January, Chinese customs has no longer required goods to be tested for COVID-19 at border gates with Viet … [Read more...] about Dragon fruit prices triple after China resumed border trading

Trung Hoang, partner at VinaCapital Ventures, and Thi Nguyen, co-founder and chairman of Koina, shake hands at the investment signing ceremony in HCM City last week. — Photo courtesy of VinaCapital VinaCapital Ventures, the technology investment vehicle of VinaCapital Group, on Monday announced that it is investing US$1 million in Koina, a Viet Nam-based data-driven farm-to-business agriculture technology platform. VinaCapital Ventures’ investment comes as part of a seed extension round of fundraising by Koina. Koina Investment Group was founded in 2021 by a talented and accomplished team with experience in established startups. Its vision is to build Viet Nam’s most extensive and efficient agri-ecosystem by working side-by-side with Vietnamese farmers and connecting them directly with financial institutions, input suppliers, and commercial retailers. Koina’s “Farmer Platform” aims to help communities with financing, provide transparent and fair prices, and guide farmers on … [Read more...] about VinaCapital Ventures invests in Koina