Leading a charge

Industrial production is forecast to increase 6.6% in 2023. (Photo: VNA) HCM City (VNA) – Vietnam is predicted to record a rise of 6.6% in industrial production in 2023, according to S&P Global Market Intelligence. S&P Global noted the Vietnamese manufacturing sector continued to face challenging business conditions in the opening month of 2023. Production and new orders continued to decline. That said, there were some signs of improvement in demand as new business fell at a softer pace, helped by a renewed expansion in new export orders. The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI), released on February 1, posted 47.4 in January, up from 46.4 in December but still pointing to a solid monthly deterioration in the health of the manufacturing sector. January data signalled a further marked decline in manufacturing production, albeit one that was slightly softer than seen in December. Lower new orders were often behind falling output, with … [Read more...] about Vietnam’s industrial production to rise 6.6% in 2023: S&P Global

Illustrative photo (Source: VNA) Hanoi (VNS/VNA) – Vietnam’s textile, garment and footwear sectors aim to achieve a total export value of 77-80 billion USD in 2025 and 106-108 billion USD in 2030, according to the strategy for the development of Vietnam’s textile and footwear industry. Under the development strategy approved by the Government, for the long term, the garment, textile, leather and footwear sectors are still key export industries of the economy. The sectors will continue to promote investment in the production of materials and auxiliary materials, as well as supporting industries. They will encourage the production of fabrics from domestically produced yarn to reduce imports, and form a complete supply and value chain in the region. For the leather and footwear industry, Nguyen Duc Thuan, Chairman of Lefaso, said domestic enterprises need to actively adapt to the requirements of the market and brands on sustainable development standards for products. They … [Read more...] about Garment, footwear exports aim to reach 80 bln USD by 2025

Singapore’s inflation remains high in 2023: Economists (Photo: VNA) Singapore (VNA) – Based on latest data from Singapore ’s Ministry of Trade and Industry and Industry (MTI), many economists have forecasted that the country’s inflation will remain high in 2023, despite signs of reduction from global price pressures. In 2022, overall inflation came in at 6.1%, up from 2.3% a year ago, while core inflation, which excluded accommodation and private transport, came in 4.1% year on year, an increase of 0.9% year on year. Singapore's overall inflation is forecast at 4.5-5.5% in 2023, while core inflation is forecast at 2.5-3.5% after excluding impacts of increase in Goods and Services Tax (GST). Monetary Authority of Singapore (MAS) and the MTI have also warned about risks that could lead to high inflation rates being “persistent than expected”, especially after China reopened its market. However, both MAS and the MTI are still optimistic about the second half of … [Read more...] about Singapore’s inflation remains high in 2023: Economists

Goods for export at the Tan Cang-Cat Lai Port in HCM City. Vietnam's exports to India topped 7.96 billion USD in 2022, up 26.8% year-on-year.  (Photo: VNA) Hanoi (VNS/VNA) - Two-way trade between Vietnam and India saw a yearly increase of 13.6% to 15.05 billion  USD in 2022, statistics from the General Department of Customs showed. During the year, Vietnam’s exports to India topped 7.96 billion USD, up 26.8% year-on-year. Among its export items, mobile phones and accessories posted the highest turnover with 1.52 billion USD, up 18.4%, making up nearly 20% of the total export value. Computers, electronics and parts came next with 1.03 billion USD, up 25%, or 13%, while machinery and equipment ranked third with 804 million USD or over 10%. Other staples with the highest value increase were coffee with 165%; iron and steel (97%) and footwear (96%). Some items, however, posted large decreases in export value, such as animal feed and raw materials with 23.04 million USD, down … [Read more...] about Vietnam’s trade with India hits record in 2022

When officers from the Hai Chau District police went into the club on Dong Da Street at midnight, there were hundreds of customers, many high on drugs. The police found Vo Ngoc Phi, 30, Phan Van Kiem, 23, and some others sitting at three tables and possessing 30.5 tablets of ecstasy and two packs of ketamine. The officers tested 43 people at these tables and 38 were positive for drugs. After randomly testing some other customers at the club, they found 26 more drug users. On Wednesday afternoon, Colonel Tran Phuoc Huong, the local police chief, said Phi, Kiem, To Ngoc Linh, 33, and Ho Nhat Hai, 23, have been detained for questioning about the possession and use of drugs. The others have been charged with illegal drug use. Phi claimed to have brought the ecstasy pills there to celebrate his girlfriend's birthday, but she did not turn up. Phi has been jailed before for drug trafficking, and he completed his sentence only last year. … [Read more...] about Da Nang police raid nightclub, catch drug pushers, users in the act

Performers participate in a street parade celebrating the Songkran Festival in Ayutthaya, Thailand. (Photo: Xinhua/VNA) Bangkok (VNA) – Thailand 's economy could grow as much as 4% this year, the fastest rate in five years, thanks to the recovery of the tourism sector and domestic consumption, Thai Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow said on February 1. GDP ), Supattanapong, who is in charge of economic affairs, told a seminar. economic growth outlook for 2023 at 3.8% but cut its 2022 growth estimate to 3% from 3.4% as exports weakened. Official GDP figures for 2022 will be released by the Thai government on February 17. VNA … [Read more...] about Thai economy may grow 4% this year

Vietnamese striker Nguyen Tien Linh has been listed among the 25 nominees for the Best Footballer in Asia 2022 award organized by Titan Sports newspaper of China. Linh is one of three Southeast Asian players competing for the award. The other two regional nominees are Thai defender Theerathon Bunmathan and Singaporean striker Ikhsan Fandi. Among other nominees are many superstars such as Son Heung Min of South Korea, Kaoru Mitoma of Japan, and Mehdi Taremi of Iran. According to Titan Sports, Linh played consistently and won the top scorer title of the 2022 AFF Cup. In the historic 3-1 victory over China in the third qualifying round of the 2022 World Cup, the Vietnamese striker performed well, scoring a goal to extend Vietnam’s lead. He did a good job at the 2021 Southeast Asian Games held in May 2022, helping Vietnam U22s win the gold medal for the second time in a row. At Binh Duong FC, he scored nine goals for the club in the Vietnamese top-tier V-League 1 2022, … [Read more...] about Vietnamese striker Nguyen Tien Linh included in Asia’s Best Footballer 2022 nominee list