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Some Vietnamese businesses specializing in producing molds, bicycle and motorbike parts, standard mechanical parts, power cable, plastic – technical rubber parts are quite promising since their products both satisfy domestic demands and are welcomed in other countries like Japan. However, the productivity of local enterprises in the support industry is rather limited due to a lack of capable, high-quality human resources, low investment in equipment, and insufficient information of international low-cost raw material suppliers. The establishment of the three support centers aims at assisting industrial manufacturers and enterprises of the support industry to innovate themselves, to carry out technological transfers, and to increase added value for the participation in the global supply chain. In addition, the Ministry of Industry and Trade is accelerating trading connections between Vietnamese export companies for support industry products and Japanese enterprises via the Vietnam … [Read more...] about Vietnam to increase export of support industry products to Japanese market

The Kim Thanh II border gate in the northern province of Lao Cai. Goods should be transported to the border gate for customs clearance only after Chinese businesses complete customs declarations. — VNA/VNS Photo Vietnamese enterprises should be cautious before transporting agricultural products to Lao Cai's Kim Thanh II border gate for export to minimise losses although Chinese authorities are piloting the re-import of these products, according to Ha Duc Thuan, deputy head of Lao Cai Border Gate Management Board. He advised local businesses who engage in importing and exporting goods to discuss and reach an agreement with their Chinese partners relating to the delivery and receipt process. Goods should be transported to the border gate for customs clearance only after Chinese businesses complete customs declarations and they are approved by a competent agency, Thuan said. Chinese authorities on June 27 piloted the clearance of Vietnamese agricultural products through Kim … [Read more...] about Firms advised to be cautious when exporting agricultural products via Lao Cai’s border gate

Former director of Binh Phuoc CDC Nguyen Van Sau The police raided the workplace and private houses of the arrestees above to perform investigation works. According to initial investigation and verification, in 2021, the subjects illegally carried out the preparation of bid documents for purchasing biological products and medical materials for testing of Viet A Technology Joint Stock Company and Thuan Giang Service Trading Company Limited to serve for Covid-19 prevention and control works that caused a financial damage of VND5 billion (US$214,712) to the State. Previously, on April 6, Sai Gon Giai Phong (SGGP) Newspaper informed that the Director of Health of Binh Phuoc Province had signed Decision 104/QĐ-SYT to discipline and dismiss Director of Binh Phuoc CDC Nguyen Van Sau. In 2021, Binh Phuoc CDC purchased over 80,000 Covid-19 test kits and 47,900 extraction test kits from Viet A Technology Joint Stock Company (Viet A Company) with a total amount of over VND41.5 billion … [Read more...] about Former leaders of Binh Phuoc CDC arrested in Viet A test kit case

At the meeting The statement was made by Chairman of the HCMC People’s Committee Phan Van Mai at a meeting on the city’s socio-economic situation in the first half of the year that was held on June 29 with the participation of Secretary of the Party Committee of the city Nguyen Van Nen and Chairwoman of the municipal People’s Council Nguyen Thi Le. Problems of administrative procedures are the biggest obstacles that have affected the attraction of capital resources, public investment disbursement and impeded capital flows into trade and business production, he said. The city’s chairman asked departments and agencies to focus on solving barriers to promptly handle requests of individuals and businesses to speed up the economy. Chairman of the HCMC People’s Committee Phan Van Mai (L), Secretary of the Party Committee of the city Nguyen Van Nen (C) and Chairwoman of the municipal People’s Council Nguyen Thi Le attend the meeting. (Photo: SGGP) Chairman of the HCMC … [Read more...] about HCMC’s economies recover quickly together

Illustrative photo (Source: VNA) Hanoi (VNA) - Vietnam is emerging as a good option for Kiwi exporters looking to diversify where they sell their goods, said New Zealand’s new site 1news .co.nz in a recent article. The article cited the Ministry of Foreign Affairs and Trade of New Zealand’s report prepared by the Embassy in Hanoi as saying between 2016 and 2021, Vietnam led ASEAN in terms of growth per capita. This growth rate is higher than that of other major ASEAN markets such as Singapore, Malaysia, or the Philippines Trade Commissioner Joseph Nelson said Vietnam is a "frontier market" presenting new opportunities, and challenges, to Kiwi exporters looking to diversify. "As Vietnam has come out of its COVID waves, we are seeing a really strong bounce back in the economy. GDP is expected to be between 6.5% to 7.5% next year," he said as quoted by the article. "All the markets in Southeast Asia are bouncing back quite strongly, but Vietnam definitely is the best … [Read more...] about Vietnam’s economy lures New Zealand exporters

Ambassador Nguyen Phuong Tra , Charge d'affaires a.i. of Vietnam to the UN (Photo: VNA) New York (VNA) – Vietnam reaffirmed its support for the UN Secretary-General ’s appeal for a global ceasefire while attending a dialogue held at the UN headquarters in New York on June 28. In her remarks, Ambassador Nguyen Phuong Tra, Charge d'affaires a.i. of Vietnam to the UN, pointed out that while the COVID-19 pandemic continues to threaten peace and development efforts, conflicts in many regions have led to heavy casualties and growing humanitarian challenges. She held that the international community should give high priority to ensuring compliance with international law and the UN Charter. She also underlined the role of multilateralism and multilateral mechanisms with the UN at their centre. To promote a ceasefire, it is necessary to boost compliance with Resolutions 2532 and 2565, and relevant resolutions of the UN Security Council, Tra said, suggesting a framework … [Read more...] about Vietnam reaffirms support for UN Secretary-General’s appeal for global ceasefire

At the meetings with a leader of Gedeon Richter Company – Hungary’s multinational company operating in the field of pharmaceutical manufacturing and biotechnology research and development (R&D), and representatives of Egis Company - a leading pharmaceutical company in the Central Eastern Europe, Hue appreciated the results of their activities in Vietnam, adding that pharmaceuticals is the country’s potential field of cooperation with many preferential policies. Leaders of Gedeon Richter and Egis showed their hope that Vietnam will speed up and simplify administrative procedures for drug registration so that many new products can be supplied to the Vietnamese market; issue a longer pharmaceutical distribution license; and find solutions to some problems related to drug registration. Noting their recommendations, the Vietnamese N.A. Chairman stated that not only the Ministry of Health but also other ministries and sectors are stepping up administrative procedure reform in order … [Read more...] about N.A. Chairman receives leaders of several Hungarian companies

Participants at the forum (Photo: VNA) Brussels (VNA) – A forum to promote trade cooperation between Vietnam and Belgium took place in Brussels on June 28, as one of the main economic events between the two countries held after a long hiatus due to the COVID-19 pandemic . Vietnamese products introduced at the forum (Photo: VNA) The two countries should work closely to create a favourable environment for the business community of both sides to exploit these potentials, he said. EVFTA ) has facilitated the exchange of trade and import-export between Vietnam and EU member countries in general, and Belgium in particular. VNA … [Read more...] about Vietnam, Belgium look to step up trade, investment ties

Roads, airports, and seaports are being looked at by overseas companies in terms of investment feasibility, Photo: Shutterstock On June 16, Hoang Gia Khanh, deputy general director of state-owned railway giant Vietnam Railways (VNR), received a delegation of Austrian businesses at its headquarters who introduced new products and technology solutions aiming to seek opportunities in the local industry. The commercial counsellor of the Austrian Embassy in Hanoi said that businesses expect to intensify cooperation with VNR, specifically those in funding and upgrading projects, as well as machinery upgrading and maintenance. He added that besides official development assistance, the Austrian government also has other financial tools that can help VNR access financial resources and technologies. According to Khanh, investment demand for the industry’s infrastructure development is huge and he highly appreciates the products and technology of groups like Plasser & Theurer and … [Read more...] about Reopening increases foreign interest in transport upgrade

Illustration. (Photo: VNA) Hanoi (VNA) – Vietnam enjoyed a trade surplus of 710 million USD in the first six months of 2022, the General Statistics Office (GSO) reported on June 29. According to the office, in the first half of this year, total import-export revenue is estimated to reach 371.17 billion USD, up 16.4% year on year, with imports of 185.94 billion USD, a rise of 17.3% over the same period last year. In the period, the domestic economic sector suffered trade deficit of 15.97 billion USD, while the foreign-invested sector saw trade surplus of 16.68 billion USD. In June, import-export turnover is estimated at 32.65 billion USD, up 5.6% over the previous month. In the second quarter of 2022, export revenue reached 96.8 billion USD, a rise of 21% year on year and 8.7% over the previous quarter. In the January-June period, 28 products recorded export revenue of over 1 billion USD, and five earning revenue exceeding 10 billion USD. The GSO reported that the … [Read more...] about Vietnam enjoys trade surplus of 710 million USD in six months