High fuel efficient cars

The Government is committed to taking timely measures to ensure macroeconomic stability. The high inflationary pressure amid the recovery of domestic demand is putting Vietnam’s GDP growth target of 6-6.5% for this year at risk. Overview of the session. Source: quochoi.vn Deputy Prime Minister Le Van Thanh gave the remarks at the third session of the 15 th National Assembly held today [May 23]. According to Thanh, the Vietnamese economy has been on a positive recovery track in the first months of 2022 under the new normal. Total budget revenue for the first four months grew by 15.4% year-on-year to VND657.4 trillion ($28.4 billion), while the consumer price index (CPI) expanded by 2.64%, the lowest four-month period growth in the past five years. As of mid-May, credit growth stood at 7.2% against late 2021 and up 17% year-on-year, which showcases the recovery of economic activities, along with greater efforts from the Government to restore discipline … [Read more...] about High inflationary pressure put GDP 6.5% growth target at risk: Gov’t

Hanoi, (VNA) – The following is a brief review of the day’s events as reported by the Vietnam News Agency on May 23. -The 15th-tenure National Assembly (NA) convened the third session in Hanoi on May 23. The opening session is broadcast live on Radio the Voice of Vietnam (VOV1), the Vietnam Television (VTV), and the NA's TV channel. Read full story - In order to ensure the highest efficiency of the 15th National Assembly (NA)'s third session, NA agencies and deputies had made careful preparations on discussion contents, aiming for the highest outcomes with shortest sitting time, said NA Chairman Vuong Dinh Hue while opening the session on May 23. The top legislator said that over the past nearly one year, NA deputies have adhered to their action plans and kept their promises to voters and people, while listening to their ideas and requests and working to enhance their capacity and operational efficiency across all fields. Read full story -Deputy Prime Minister Le Minh … [Read more...] about ☕ Afternoon briefing on May 23

With a 1-0 victory over Thailand on May 22 – courtesy of the sumptuous 83rd-minute header from Nham Manh Dung – Vietnam claimed back-to-back gold medals in the Southeast Asian Games men's football tournament, it reported. It was only their second championship since breaking their gold-medal duck in 2019, ESPN said, adding that “the triumph was typical of the football that has become synonymous with Vietnam under Park Hang-seo - with organization and efficiency the hallmarks of the game plan.” “Perhaps the most impressive aspect of their gold medal-winning efforts is that it was down with a new generation of prospects and not the golden generation that has fueled much of Vietnam's recent success.” Thailand’s Siam Sports described the 0-1 loss Thailand suffered as “heartbreaking.” French’s news agency AFP highlighted the exciting atmosphere in Vietnam after the win, reporting thousands of people waving flags poured into the streets of Hanoi and other cities after the SEA Games … [Read more...] about Vietnam’s SEA Games football victory finds prominent coverage in foreign media

Many parts suppliers for automobile production want to have new investment but face large capital obstacles because collateral is unavailable after two years fighting COVID-19. —VNA/VNS Photo Supportive solutions for businesses need to be implemented faster and stronger to improve the capacity of businesses and increase linkage among them, according to experts. In the context of a pandemic-disrupted supply chain and political conflict, support from the Government and organisations for the linkage among businesses is significant. According to the Viet Nam Association of Supporting Industries (VASI), to improve the capacity of Vietnamese enterprises, it is necessary to have supportive policies to reduce costs, easy access to credit and preferential interest rates for businesses in investment activities and production. There are also solutions for training and improvement of management. Many parts suppliers for motorcycle production want to have new investment but face large … [Read more...] about Supportive solutions needed for enterprises

Digital solutions enable customers to maintain and manage a charging network efficiently. — Photo ABB A full line-up of digital building management and energy distribution systems and transport charging was showcased at the ABB Electrification Innovation Day on May 20 in HCM City. The ABB Electrification Innovation Day features solutions that help customers embrace the power of digitalisation to improve energy consumption, optimise performance and operation, and contribute to a lower-carbon future. The event attracted about 200 experts and participants from consulting, EPC, real estate, and industrial companies. "By leveraging the building blocks of digitalisation, such as service platforms, smart devices, cloud and advanced analytics, businesses have the opportunity to optimise electricity network flows and innovate with customer-centric products," said Noel Hupont, President, Electrification, ABB Vietnam. "ABB Electrification is offering solutions to help businesses … [Read more...] about ABB Electrification Innovation Day showcases energy saving and management technologies

The cord-free reference design helps OEMs and ODMs more seamlessly and cost-efficiently prototype and bring to market lightweight, premium AR glasses to enable immersive experiences that unlock the metaverse. The purpose-built, premium Snapdragon XR2 Platform now packs powerful performance into a slim, smaller AR glass form factor. The AR reference design hardware, developed by Goertek, has a 40% thinner profile and a more ergonomically balanced weight distribution 3 for increased comfort. SeeYA provides the dual micro-OLED binocular display enabling 1920 x 1080 per eye and frame rates up to 90Hz and a no-motion-blur feature to deliver a seamless AR experience. Dual monochrome cameras and one RGB camera on the smart viewer enable six-degrees of freedom (6DoF) head tracking and hand tracking with gesture recognition to achieve AR precision. Also, taking a system-level approach, the reference design enables a wireless split processing architecture to distribute computing workloads … [Read more...] about New production from Qualcomm powered by the Snapdragon

Inside a factory of PetroVietnam Ca Mau Fertiliser JSC (DCM). DCM's net revenue reached VND4.07 trillion in Q1, 2 times higher than the same period last year. — VNA/VNS Photo Huynh Anh The fertiliser industry's gross profit margin may decrease after peaking in the first quarter of 2022, but the fertiliser sector still sees positive prospects in the near future, thanks to export growth. According to KIS Vietnam Securities Joint Stock Company (KIS), the revenue of the fertiliser industry in the first quarter of 2022 reached VND30.93 trillion (US$1.3 billion), up 71.2 per cent over the same period last year, while profit after tax reached VND6.8 trillion, 7.9 times higher than the previous year. Leaders in the growth of profit after tax in the first quarter of 2022 are Petrovietnam Fertiliser & Chemicals Corporation (DPM) and PetroVietnam Ca Mau Fertiliser JSC (DCM). Petrovietnam Fertiliser & Chemicals Corporation (DPM) reported a profit after tax of VND2.12 trillion, up … [Read more...] about Fertiliser industry’s gross profit margin may decrease after peaking in Q1

More than 300 participants took place in the Vietnam Industrial Property Forum 2022 Deputy minister of Planning and Investment Tran Duy Dong at the forum Deputy minister of Planning and Investment Tran Duy Dong Vietnam has been preparing the necessary conditions to receive a new wave of investment. The nation has put itself in a strong position to become an important global production base by continuing to perfect its institutions and policies and giving priority to projects that use modern and environmentally friendly technologies. Industrial parks and economic zones have improved their infrastructure to reach international standards. Pilot studies on a number of industry-specialised clusters have been implemented to formulate production and supply networks, allowing them to participate more in global value chains. Since 2015, the Ministry of Planning and Investment has coordinated with the United Nations Industrial Development Organization and a number of … [Read more...] about Smoothing The Path For Capital Inflows

Lance Li, CEO of BW Industrial Development JSC What difficulties has BW Industrial Development encountered when attracting manufacturers to its campus? The leasing part is always difficult. Despite being a leading player in this market, a large proportion of our tenants, especially manufacturers, is small- and medium-sized enterprises (SMEs). The average space that they need is 3,000-5,000 square metres. If you look at our tenant profile, we have more than 200 tenants. Therefore, we actually need a very strong leasing team to work with, to serve the different requirements of these tenants – from choosing the right locations to other demands such as facilities, dealing with local authorities and skilled labour recruitment as well. Do you have any incentives for SMEs and what are the advantages for them? For each individual industrial zone, they may have some incentive policies. In the very early stage, we will introduce that policy to our tenants, depending on each … [Read more...] about BW Industrial setting the market standard

Workers at a Garment 10 factory. — Photo baosoctrang.org.vn Although the demand for Vietnamese textiles is forecast to rise steadily in the short term, firms are concerned that tight material supply will impede their export plans. According to the Vietnam Textile and Apparel Association, export prospects for the industry are getting better as major importers have reopened their economies and various free trade agreements have begun to take effect. Under a likely scenario, Viet Nam's textile export is expected to reach up to US$43.5 billion in 2022. However, Garment 10 Corp. is concerned that the Chinese Zero-COVID policy and the Russian military operation in Ukraine will disrupt supply chains, hindering its ability to fulfil new orders. "The Russian military operations in Ukraine have driven up our input costs. The Chinese Zero-COVID policy will cause material shortages in the short-term, fueling the situation," said Than Duc Viet, director of Garment 10. The director said … [Read more...] about Tight material supply impedes textile exports