Infrastructure

There is a lot of room for Vietnam and India to develop trade cooperation, and the most important thing is enhancing connectivity , especially infrastructure connectivity, via both land and maritime corridors. (Illustrative image. Photo: VNA) Hanoi Oct. 6 (VNA) - Vietnam and India should further strengthen connectivity to record more robust growth in bilateral trade, which is expected to hit 15 billion USD this year and surpass the record the two countries set in 2021, Indian analysts have said. Data from the General Department of Vietnam Customs shows that two-way trade between Vietnam and India surged to over 13 billion USD in 2021 from about 200 million USD in 2000. This has been a significant outcome, especially given major disruptions to supply chains during the COVID-19 pandemic. It is yet to match potential, however, Indian analysts believe. “There is a lot of room for Vietnam and India to develop trade cooperation, and the most important thing is enhancing … [Read more...] about Strengthening connectivity key to boosting Vietnam-India trade: Analysts ​

Gate B of Lao Bao Special Economic and Trading Zone has seen degradation. (Photo: SGGP) Lao Bao Special Economic and Trading Zone has a surface area of 15,804ha, spreading through 5 communes and 2 towns along National Way No.9 in Quang Tri Province. It is considered a general economic model and a "special non-tariff zone". On its golden time between 2010-2012, the import-export turnover of this economic zone accounted for about 50% of the total one from 10 provinces along Vietnam-Laos border. A visit to Lao Bao Special Economic and Trading Zone in the middle of this September, however, revealed a series of abandoned offices and project headquarters. It is absolutely opposite to the scene only 10 years ago. Inside the most anticipated zone, over 50 percent of businesses have already closed down, while other projects are carried out at slow speed. Thien Nien Ky Supermarket, for instance, opened in 2009 with a total investment of hundreds of billions of VND. After 5 years, it was … [Read more...] about Central border-gate economic zones – gone are their golden days

Quoc Dung, a businessman, was impressed when he saw the expansive view of Aqua City, which spans 1,000 hectares while taking a yacht tour of Ho Chi Minh City's eastern urban area. According to him, this is not just a huge real estate development but also a livable city with a green ecosystem and low construction density. Hai Yen, Dung's wife, returned to the project after six months. She also expressed her surprise at the rapid change in the project. Yen feels more secure in her investment and looks forward to settling in the city and experiencing the high-class utility ecosystem here. Hai Yen and her husband return to the project after six months. Photo by Novaland Phan Thi Thu Thuy, a businesswoman with extensive knowledge in healthcare, is eager to make a home in the urban area. She said that the natural landscape and natural scenery were important factors in her decision to invest in Aqua City. In addition to having a home surrounded by nature, Aqua City … [Read more...] about 1,000-ha urban area to HCMC’s east to welcome residents by year end

Over the last two months, Indian investors have organised events and field surveys across the country to look for opportunities. A view of the 2022 Horasis India Meeting (Photo: VNA) The Confederation of Indian Industries led a delegation of 15 leading companies to Vietnam on September 25-28 to participate in the India-Vietnam Business Forums held in the southern province of Binh Duong and Hanoi. Indian investors are looking for local partners to enhance bilateral cooperation in various sectors, such as energy, electric vehicles, IT, petrochemicals, healthcare, water treatment, food and beverages, fertilisers, and food processing. “We want to establish a joint venture with local partners to set up an integrated biotech laboratory, which can be used to manufacture biotech products for agriculture, veterinary products, and aquaculture products,” said Mekala Lakshmi Prasad, managing director of agri- and aquaculture group Sujay Biotech. In late August, 25 automotive … [Read more...] about Indian-based financiers eager to pour further investment into the country

Vietnam Rubber Group (VRG) is completing its restructuring scheme for 2021-2025 to submit to the Committee for Management of State Capital at Enterprises. One of the highlights is that industrial real estate will be one of three core business sectors, and the company will foster divestment from the rubber sector to mobilise resources for the industrial real estate sector. Developers eager to cultivate funding in industrial real estate - illustration photo VRG general director Le Thanh Hung said that by 2025, the group’s revenue is expected to increase by 30 per cent, and profit will increase by 25 per cent. The group’s consolidated revenue is expected to climb to VND161 trillion ($7 billion), and consolidated pre-tax profit will be $1.49 billion. The after-tax profit of the parent company will be $536.9 million. “To achieve the above goals, the group will apply for a license to convert part of the rubber area to land for industrial production, contributing to improving … [Read more...] about Developers eager to cultivate funding in industrial real estate

Without mutual support, domestic manufacturers continue to wait for market capacity to be large enough to accept competition with suppliers from outside. With the right incentives, localisation is expected to boost manufacturing nationwide As many final consumer products require a series of manufacturing processes, when mass producing, one cannot do it all by themselves. This is how new supply chains are formed, however, without the concept of supporting or ancillary industries. Within the motorbike market, each year Vietnam consumes nearly three million units. Such output is very attractive for manufacturers, who easily achieve efficiency brought about by mass production. When implementing localisation, it is not difficult to attract suppliers whose supply chain is specialised and professional at each stage. The supply chain is formed by the needs and advantages of the market, without requiring a policy for the development of the supporting industry. Meanwhile, … [Read more...] about The new face of manufacturing supporting industries

A farmer harvests giant river prawns in Kien Giang Province’s U Minh Thuong District. (Photo: VNA) Kien Giang (VNS/VNA) - The Mekong Delta province of Kien Giang has expanded aquaculture this year. Local farmers breed mostly shrimp, fish, mud crab, and bivalve molluscs in fresh and brackish water and the sea. The aquaculture output topped 206,000 tonnes in the first eight months of the year, up 13% from the same period last year, according to its Statistics Office, with shrimp accounting for more than 95,600 tonnes. Quang Trong Thao, Deputy Director of the provincial Department of Agriculture and Rural Development, said shrimp is farmed on more than 142,000ha using various models like industrial, semi-industrial, extensive and advanced extensive, and shrimp-rice farming. The province has reorganised aquaculture, especially shrimp farming, towards developing value chains, he said. It has established linkages between co-operatives, co-operative groups and companies … [Read more...] about Kien Giang province expands aquaculture

Workers process the dragon fruits for export in Cho Gao, Tien Giang Province. — VNA/VNS Photo Minh Tri Tien Giang aims to have US$3.6 billion in export turnover of goods for this year, much more than 2021 and exceeding the plan for 2022 by 7.46 per cent. According to the director of Tien Giang Department of Industry and Trade, Dang Van Tuan, thanks to reasonable management solutions, actively supporting export enterprises to connect supply and demand and expand markets, the province's export turnover continues to grow stably. Tuan said in the first nine months of 2022, the province's export turnover of goods reached about US$3 billion, up more than 26.9 per cent over the same period last year and reached 89.6 per cent of the target for the whole year; which, foreign-invested enterprises alone accounted for 82.1 per cent of the total export turnover of the locality. Tuan said: "Tien Giang is aiming to achieve the export turnover of goods for the whole year 2022 reaching $3.6 … [Read more...] about Tien Giang expects 16% increase in exports

Mango on display during a trade promotional event held in the mountainous province of Son La in May this year. — Photo MoIT Additional measures must be taken to bring agricultural and handicraft products from mountainous and coastal provinces to cities and provinces across the country, and potentially to international markets, said Deputy Minister of Industry and Trade Do Thang Hai during a meeting on Wednesday with local representatives from Viet Nam's mountainous and coastal provinces. He cited a number of successful models that have seen Vietnamese local specialities including Son La mango, Sapa salmons, Ngoc Linh ginseng and Dak Lak avocado gaining popularity in the domestic and international markets. He said there was a need to improve trade ties and distributions of goods and services among Viet Nam's 68 cities and provinces. Promoting local specialities has made a significant contribution to the effort to eradicate poverty, especially in remote and isolated areas, and … [Read more...] about Local specialities to receive support, promotion

Hanoi has advantages to develop urban, ecological and high-tech agriculture to adapt to climate change as well as increase the value of agricultural products. Thach That is one of six districts selected to build a pilot agricultural and rural tourism model toward green, responsible and sustainable development in the 2022-2025 period. A local tourist is picking black grapes at a Dan Phuong District's farm. Photos: Ngoc Anh/ The Hanoi Times The district has great potential in developing farm produce with hundreds of farms, ecological zones and organic and high-tech models. This is the driving force for the locality to promote the development of various tourism services such as sightseeing, shopping, and culinary. After the selection process, Hoa Vien Farm in Thach That District, Yen Binh Commune, was chosen to pilot the model. The farm's crops are grown under a system of vegetable greenhouses, each of which, with an area of 1,000 m2, applies organic and … [Read more...] about Hanoi expands modern agricultural model associated with rural tourism