High gas demand

Final assembly of the gas turbine. — Photo baodautu.vn Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd (MHI), captured the top market share by megawatts in 2022 with a global gas turbine market share of 33 per cent according to McCoy Power Reports data. The company has also secured 49 per cent market share in the Advanced Class gas turbine market, led by Mitsubishi Power’s latest model JAC (J-Series Air-Cooled) gas turbines. This is one of the most advanced turbines in the market, contributing towards reducing air pollution, but still be able to ensure proper electricity production which is essential to overall global economic development, especially when Viet Nam and many nations in the world are accelerating the transition to clean energy. Mitsubishi Power's high market share results are attributed to its strong project execution track record, high performance, and product reliability. Mitsubishi Power has extensive experience with large frame … [Read more...] about Mitsubishi Power achieves No 1 global gas turbine market share in 2022

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Commercial banks that underwrite and sell corporate bonds have to buy them back if investors so demand, the central bank has said. It followed a meeting with voters (members of the public) the State Bank of Vietnam (SBV) held in Ho Chi Minh City amid the ongoing bond market troubles. Besides asking for underwriting banks to take responsibility for redeeming bonds, the voters also urged the SBV to tighten inspection of credit institutions to ensure they comply with regulations while investing in bonds. The SBV recently raided 11 banks and fined a number of them for violating regulations related to bond purchases. Under current regulations, banks must have an internal credit rating system and can only buy bonds if their bad debts ratio is below 3%. For bonds sold in the domestic market, when issuers cannot pay in full and on time the bond principal and interest, they must negotiate with bondholders for extending the term … [Read more...] about Banks underwriting bonds should buy back bonds: Central bank

Hanoi set a goal of creating new jobs for 162,000 workers this year. Hanoi has found jobs for more than 44,000 people in the first quarter of 2023, accounting for 27.5% of the year's plan, according to the city's Department of Labor, Invalids and Social Affairs. The job transaction event is held in Hoan Kiem District. Photo: Tran Oanh/ The Hanoi Times The result was attributed to applying the city's labor market development solutions. During the period, the city provided jobs for more than 10,000 workers from the city’s fund entrusted through the Vietnam Bank for Social Policies. As many as 728 were sent abroad under fixed-term contracts, and 3,443 people were recruited through the job exchange system, the municipal department added. More than 12,600 people found jobs through job counseling and placement services, and another 232 received vocational training courses worth VND1.02 billion (US$43,297). In addition, the unemployment insurance fund paid out a … [Read more...] about Over 44,000 jobs created in Hanoi in January-March

Great minds from around the world have a wealth of knowledge and want Vietnam to be a digital pioneer, Photo: Cuong Minh At VIR’s forum on digital transformation on March 21, Do Tien Thinh, deputy director of the Vietnam National Innovation Centre (NIC), said that it is crucial to support innovation and help businesses achieve their emission reduction goals. “While technology groups seek to expand their customer base and provide tech solutions, local businesses require digital transformation and innovation,” Thinh said. “In response, the NIC acts as a mediator, connecting private sector businesses with technology solution providers to provide training for human resources in digital transformation and innovation.” The NIC has already collaborated with the likes of Siemens, Google, and Hitachi to implement innovation support programmes at factories. A very visible area of green digital transformation has been in manufacturing, with factories constantly seeking new approaches … [Read more...] about Greener, faster, smarter digital plans

The Vietnamese rice industry is set to benefit from the high demand and prices this year, with lower input costs leading to expanded profit margins for rice businesses. A rice field in Vi Thuy district in the Mekong Delta province of Hau Giang. Vietnam will benefit from the upward trend in rice prices due to limited supply. (Photo: VNA) According to an expert from Vietnam Securities Company Limited Bank for Foreign Trade (VCBS), the country's rice industry enjoys favourable factors, such as weather and geographical advantage. The prolonged drought in China has caused a decrease in the country's output for the 2021-2022 crop, leading to an anticipated six million tonne increase in rice imports for the 2022-23 crop. Meanwhile, inventories in the Philippines have declined due to typhoons and high fertiliser costs, leading to increased rice imports. The cultivated area in India has also dropped due to drought, making the decrease in supply - the main factor for … [Read more...] about 2023 set to be favourable for Vietnamese rice enterprises

. People Link is looking for Vietnamese retail workers who speak Japanese and English. If selected, the workers will be hired and trained by WMH in the necessary retail skills and be fully supported to live and work in Japan. WMH will conduct the necessary procedures before travelling, such as visa applications, job interviews, residence selection, and flight bookings, while the workers undergo a high-level online training course in fashion sales. Upon arrival in Japan, they will be ready to work in Japanese retail under the same conditions as Japanese staff, including salary and insurance. In Japan, with the significant relaxation of border measures and the impact of the yen's depreciation, the number of inbound tourists is rapidly increasing. According to the Japanese National Tourism Organisation, the number of foreign visitors to Japan in January was almost 1.5 million, about 60 per cent for the same period in pre-pandemic 2019. At that time, the demand for visiting … [Read more...] about WMH backs Vietnamese retail talent to work in Japan

Industries with high demand for green jobs in Vietnam. (Infographic courtesy of ManpowerGroup Vietnam) HCM City (VNS/VNA) - Vietnam is heading toward green growth with various industries involved, generating great demand for green jobs and green skills in the labour market, according to the recruitment, staffing and outsourcing company ManpowerGroup Vietnam. Since 2022, ManpowerGroup Vietnam has helped employers find talent for hundreds of green jobs in both full-time and staffing positions. So far, the highest demand for green jobs is from the manufacturing (48%), energy (34%), agriculture (11%), and technology (4%) sectors, among others. Andree Mangels, General Manager at ManpowerGroup Vietnam , said, “from our recruitment and staffing experience, we see that more and more companies have placed significance on ‘green’ practices in their operation, especially in talent acquisition. We have been actively partnering with both local and multinational corporations nationwide … [Read more...] about Green jobs needed in various industries: ManpowerGroup

How has 5G been piloted in Vietnam so far, and is the nation ready for commercialisation in 2023? Up to now, 5G in Vietnam is still in a trial process by Viettel, VNPT, and Mobifone in more than 40 cities and provinces. They are testing different frequency bands from low to mid-band and mmWave band. From the user side, the first experience of mobile broadband speed, is not too impressive for users because the current 4G speed is meeting the current needs of users in watching movies and television and so on, so the speeds of a few hundred Mb/s or even Gb/s that 5G brings is not a mass market requirement. Nguyen Phong Nha, deputy general director of the Ministry of Information and Communications’ Authority of Telecommunications For high-density or low-latency user cases, there have been no tests with impressive results and no clear demand from users. This is a reality not only in Vietnam but also in other countries when deploying 5G. The ability to provide … [Read more...] about Supporting policies needed to fast-track 5G commercialisation

FPT Retail is the owner of consumer electronics chain stores FPT Shop and pharmacy chain Long Chau, while Mobile World is the owner of consumer electronics chain stores The Gioi Di Dong (Mobile World) and Dien May Xanh, as well as drugstore chain An Khang, and food and consumer goods chain stores Bach Hoa Xanh. Drugstores of Pharmacity (left) and FPT Retail's Long Chau located next to each others in HCMC's Binh Thanh District. Photo by VnExpress/Quynh Tran According to documents prepared for its coming annual meeting in mid-April, FPT Retail plans to make pre-tax profits of VND240 billion (US$10.17 million) in 2023, down from VND485 billion in 2022, and VND554 billion in 2021. The main reason behind FPT Retail’s low expectations is difficulties at FPT Shop, the company’s retail chain. Last year FPT Shop contributed nearly 70% of FPT Retail’s VND30 trillion in total revenues. With both financing costs and inflation still rising, FPT Retail management has assumed … [Read more...] about Top electronics retailers Mobile World and FPT Retail facing a rough year

With the new facility, FPT Software is the first Vietnamese IT company to open an office in the Korean market, pinning high hopes on strengthening the company’s presence there and becoming a world-class, billion-dollar company. FPT chairman Truong Gia Binh spoke at the opening ceremony Addressing the opening ceremony, FPT Corporation chairman Truong Gia Binh said, "Our business philosophy is to stay closer to our customers, which could let us reach and serve our customers better. FPT will continuously open new offices around the world. FPT Software's second office in Korea helps us expand our global network further and strengthens our ability to connect and accompany customers despite time and geography." According to FPT Software Korea CEO Ha Minh Tuan, the new office is expected to address the shortage of IT talent in the country. “We also see strong demand for technology solutions such as AUTOSAR, IVI, SAP, low-code, managed services, and digital transformation. … [Read more...] about FPT Software opens new office in South Korea