Industry

A view of the first Wink Hotel in HCM City. The developer will complete its goal of building 20 Wink hotels across the country within the next 5-7 years. — Photo courtesy of the firm Despite the negative impact of the COVID-19 pandemic that paralysed the tourism industry, project developer Indochina Kajima persisted in its goal of building 20 Wink Hotels across the country. Michael Piro, CEO of Wink Hotels, said that after the first Wink hotel with 237 rooms opened in HCM City early last year, the second hotel is expected to open in November this year in the central Da Nang City with 243 rooms. There will be another Wink hotel expected to welcome visitors next summer in this coastal city. In Ha Noi, two hotels will be built on Thuy Khue and Pham Hung streets as well as others in Phu Yen, Can Tho and Hai Phong. Piro said that at the current rate of development, Indochina Kajima would complete its goal of building 20 Wink hotels across the country within the next 5-7 years, … [Read more...] about Wink Hotels holds ambition to create a revolution in the hotel industry

Chairman of the Korean Business Association in Viet Nam, Shon Young Il, speaks at a dialogue between Korean business executives and HCM City authorities on June 24. — VNA/VNS Photo Xuan Anh The chairman of the Korean Chamber of Commerce and Industry in Viet Nam, Shon Young Il, has called on HCM City authorities to help Korean firms resolve difficulties they face in investing and operating in the city. Shon was speaking at a meeting between Korean business executives and city officials late last week organised by the People’s Committee and Korean consulate general in the city. The meeting was held to review the performance of Korean enterprises and for the city officials to listen to their problems and offered solutions. The problems discussed included some related to labour, with Shon saying a number of businesses complained about difficulties in obtaining work permits for foreign workers. Reducing costs, including salaries, is an imperative part of doing business, and so … [Read more...] about HCM City promises to ease problems faced by Korean investors

Part of Van Don district in Quang Ninh province (Photo: VNA) Quang Ninh (VNA) – The northern province of Quang Ninh posted an estimated growth rate of 10.66% in Gross Regional Domestic Product (GRDP) in the first six months of this year, which is 2.64 percentage points higher than the rate in the same period of 2021. In the period, the province has effectively implemented its overall strategy on containing COVID-19 and safely and flexibly adapting to the pandemic, thus facilitating development in the new normal situation. Quang Ninh collected over 27.18 trillion VND (1.17 billion USD at current exchange rate) for the State budget , an increase of 18% year-on-year. Total social investment in the period is estimated at 42.3 trillion VND, up 10.9% from the same period last year. The tourism industry of Quang Ninh has also enjoyed a stable recovery, serving 5.5 million visitors in the six-month period, a 2.2-fold rise year-on-year. The figure also showed a 19.57% increase … [Read more...] about Quang Ninh posts 10.66% economic growth for first half

Representatives cut the ribbons to open the programme. — VNA/VNS Photo A programme to introduce Vietnamese goods and foods in the UK is underway at Longdan Supermarket in Crawley, about 45km south of London. The week-long event, which started on Sunday, is hosted by the Vietnam Trade Office under the Vietnamese Embassy in the UK, in collaboration with the Vietnam Business Association in the UK (VBUK), and Longdan and EUTEK groups. As part of activities in the trade promotion programme of the Vietnamese Ministry of Industry and Trade (MoIT), the event aims to promote high-quality Vietnamese products that are benefiting from the UK-Viet Nam Free Trade Agreement (UKVFTA) to British retailers and consumers. Handicraft products, coffee, fresh and dried fruits, canned fruit juice, vermicelli, dried noodle, rice papers, cashew nuts, and fragrant rice from reputable export enterprises of Viet Nam are being displayed at the supermarket and Vietnamese markets in Nottingham. At the … [Read more...] about Vietnamese goods, foods introduced in UK

Vietnam wants to learn from Hungary’s experience in developing information-technology (IT) policies in the context of the fourth industrial revolution, said Minister of Information and Communications Truong Minh Tuan. At a meeting with Hungarian Minister of National Development Miklos Sesztak in Hanoi on September 25, Tuan called on Hungary to share its experience in implementing programmes and projects on information and communication technology (ICT) application in state administrative management like e-Government, e-certification and information safety, among others. Minister of Information and Communications Truong Minh Tuan (R) and Hungarian Minister of National Development Miklos Sesztak He suggested the two sides to boost cooperation in the research and development of national database system, internet of things (IoT), icloud, artificial intelligence and smart cities. Tuan said on the basis of cooperation agreements reached by the two ministries, … [Read more...] about Vietnam cooperates with Hungary in ICT cooperation

Saravoot Yoovidhya, CEO of TCP Group, announced the new corporate purpose in Vietnam From 2022 to 2024, TCP Group is further driving the organisation towards sustainable business growth and creating a positive impact on society and the environment, locally and globally. "Five years ago, we announced the synergy of our various businesses into TCP Group, and we have been working towards sustainable development goals ever since. Up to now, events like COVID-19 and digital transformation have tremendously affected business, society, and the environment. We, therefore, are revisiting our purpose and strategies in every aspect to prepare for the volatile future and to create growth for the organisation while energising the sustainability of the world with a new purpose, called Energising A Better World For All,” said Saravoot Yoovidhya, CEO of TCP Group. Throughout its over 60 years of operation, TCP Group's priority has been to ensure the development of the economy, society, and … [Read more...] about TCP Group’s CEO announced a new corporate plan

Denis Brunetti, president in Vietnam and Myanmar for Ericsson With digital transformation being accelerated in the manufacturing sector, what are the factors for the successful development of smart factories in Vietnam? The next wave of socioeconomic development in Vietnam will be created through innovation, science, and technology, driven by the digital economy. A key component of Vietnam’s socioeconomic development strategy is the digital economy, which will contribute 25 per cent of GDP by 2025 and 30 per cent by 2030. It will also further enhance productivity in all key economic sectors of Vietnam. The new digital economy will be created by scientific and technological advancements and innovation, particularly in areas such as 5G, AI, machine learning, automation, cloud computing, blockchain, and the Internet of Things (IoT). With our global scale and expertise, we look forward to supporting Vietnam with the expanded deployment of 4G and 5G networks moving forward. … [Read more...] about The path to success with smart 5G manufacturing in Vietnam

Cashew exports reduced both in volume and value in the first five months of the year. — Photo congthuong.vn Viet Nam’s cashew exports reduced significantly in both volume and value in the first months of the year, exports for the entire year are forecast to be lower than last year, according to the Viet Nam Cashew Association (Vinacas). Speaking at a meeting to review the industry’s performance in the first half of the year and set plans for the latter half, Tran Van Hiep, Vinacas’ deputy chairman, said cashew exports in the first five months fell by 7.81 per cent in volume and 6.81 per cent in value to 206,111 tonnes and US$1.19 billion, respectively. The average export price was about $5,792 per tonne, up 1.45 per cent over the same period in 2021. Enterprises imported about 968,000 tonnes of raw cashew nuts from abroad worth nearly $1.4 billion, down 35.24 per cent in volume and 37.84 per cent in value in the first five months. But the price of raw cashews imported from … [Read more...] about Cashew exports to slow in 2022 amid global inflation, Russia sanctions

In 2020-2021, despite being heavily affected by the COVID-19 epidemic, Vietnam’s GDP still maintained positive growth, mainly thanks to the growth of import-export and investment, especially foreign direct investment. In fact, a number of industries recovered strongly after the epidemic such as retail, personal goods, and pharmaceuticals, due to a good recovery in domestic demand. Construction industry pins hope in public investment, FDI and real estate to bounce back. Some industries showed good recovery reaching close to the pre-pandemic period, including transportation, warehousing, and forestry, while logistics sector is expected to be a bright spot in the coming years. The Asian Development Bank has forecasted that Vietnam 's economic growth will recover to 6.5% in 2022 and reach 6.7% in 2023. The International Monetary Fund , meanwhile believes that the figures will be 6% in 2022 and 7.2% in 2023./. VNA … [Read more...] about Vietnam’s economy expects strong recovery

Reciprocating her sentiment, her Vietnamese counterpart Bui Thanh Son welcomed Wong’s choice of Vietnam as her first Southeast Asian destination since taking office last month. He said her visit would strengthen and boost bilateral relations. Wong will conclude her official visit to Vietnam on Tuesday, the Ministry of Foreign Affairs said in a statement. She said Australia has always valued Vietnam's role in the region and that the new government was committed to further strengthening the strategic partnership with Vietnam. The two ministers agreed that it was important the two countries strengthen cooperation in sectors and industries hit hard by the pandemic like tourism, education, and labor cooperation, as well as traditional areas like trade, investment, defense and security. They also agreed that the two countries would expand collaboration in climate change, green growth, and sustainability. Son wanted Australia to continue contributing to regional cooperation with … [Read more...] about Australia values Vietnam’s partnership, regional role: FM