London docklands development corporation

Nguyen Van Than, chairman of the Vietnam Association of Small- and Medium-sized Enterprises Although Vietnam’s development results in 2022 were quite impressive, businesses continue to face multiple hardships. How do you perceive the development situation through the lens of both an NA deputy and an entrepreneur? In my view, global uncertainties, geopolitical conflicts, and stiff competition among nations will make the global economy very unpredictable in 2023. As Vietnam increasingly integrates more deeply into the global economy, impacts on the local economy from the outside world will be inevitable. The challenges are therefore huge. As Party Chief Nguyen Phu Trong has voiced the expectation that Vietnam could secure even better results in 2023 compared to 2022, the task seems very arduous. To turn expectations into reality, institutions must be one step ahead. To achieve this, I believe the following two matters are of paramount importance. First, institutions … [Read more...] about Imperative to troubleshoot corporate bond bottlenecks

A VnExpress survey of 10 property developers in Ho Chi Minh City and other southern localities showed that more than 70% of businesses were taking a more cautious approach to their business plans this year. The deputy general director of a real estate company developing high-end homes in HCMC’s Thu Duc City revealed that this year his firm would reduce investment capital by 30-50%, and slow down project construction progress to avoid cash flow pressure and save resources for the next 12 months. "In 2023, just overcoming difficulties is reaching the target," he said. "Growth and breakthrough will be tasks for the 2024-2025 period." Similarly, the chairman of a property firm in Ho Chi Minh City’s District 3 said that over the next 12 months his company would lower spending, downsize personnel, restructure products, and increase its risk fund. Instead of developing properties with an average price of some VND3 billion ($127,000) per unit as the enterprise has been doing for the … [Read more...] about Property developers tighten their belts amid frozen market

Following the M&A deal, Lion plans to make MERAP an equity-method affiliate. MERAP possesses major brands in the healthcare field, mainly in over-the-counter pharmaceuticals, as well as a distribution network and sales capabilities covering hospitals, clinics, and pharmacies throughout Vietnam. The deal will create synergy by combining MERAP’s business foundations with the Lion Group’s strengths in product development and production technology. By doing so, the Japanese firm aims to contribute to the creation of better habits and achieve business expansion in Vietnam. The move is part of Lion’s efforts to expand its overseas business, which will be important to achieving its vision of becoming an advanced daily healthcare company by 2030. To facilitate this goal, Lion is working to reinforce its businesses in countries and areas where it already operates while also entering new locations to expand its presence in Asia. To date, Lion has exported certain products to the … [Read more...] about Japan’s Lion Corporation to acquire 36 per cent of MERAP

The days just before the Lunar New Year are also the busiest days for Cao Thi Tam, director of Tan Xuan Bamboo Shoot Cooperative 269 in Son La province. It is when her cooperative sells the most products, and she can pay the highest wages. Initiatives lift rural female development Tam is not a native to this land, but her and her family have lived and established a business in Tan Xuan for years. They understand the poverty of the people here, especially among the many ethnic women who have no jobs and limited opportunities. Tam’s family was always relatively well-off in the area, with income from a grocery store business. However, Tam harboured larger ambitions and wanted to support local people’s economic development to contribute to where her family lives. “Tan Xuan is a land with rich sources of agricultural materials, including bamboo shoots, but people often do not have enough to eat and wear. Many people go to the forest to dig a few kilograms of bamboo … [Read more...] about Initiatives lift rural female development

What are the bright spots in terms of applying the circular economy in Vietnam? The circular economy, green economy, and low carbon economy have been stipulated in the Law on Environmental Protection in 2020, which is also the model that the country will pursue to fulfil its commitment to achieve net-zero carbon emissions by 2050. Assoc. Prof. Nguyen Dinh Tho, general director of the Institute of Strategy and Policy on Natural Resources and Environment Vietnam is one step ahead compared to countries with massive net emissions, such as Brazil, India, China, and Russia. However, it is increasingly difficult to realise its commitments. The 2020 Law on Environmental Protection has very progressive requirements, larger than other countries in the region, such as Singapore or Malaysia, which leaves many manufacturers apprehensive. Therefore, they have proposed that the extended producer responsibility regulations must have a roadmap for implementation and be behind the … [Read more...] about Extra support required for circular economy development in Vietnam

Hoa Binh 5 Wind Farm in Bac Lieu Province. Project developers said the ceiling prices are insufficient for their farms to break even. — VNA/VNS Photo Many project developers are expressing concern that the ceiling prices for solar and wind energy set recently by the Ministry of Industry and Trade are not high enough to offset their costs. The representative of four wind farms in Gia Lai Province Tran Minh Tien remarked that the construction of the wind farms was completed a year ago but they have been idle due to the absence of official purchasing prices. "We have spent US$300 million to build our wind farms that have been lying dormant for one year. Meanwhile, interest payments and depreciated costs pile up day by day," said Tien. The introduction of the ceiling prices did not make the representative any happier because it is never easy to negotiate an agreement with Vietnam Electricity (EVN), under which the power corporation purchases electricity from the wind farms at … [Read more...] about Newly-announced ceiling prices insufficient to cover costs: project developers

Agriculture plays a pivotal role in the economies of Vietnam and the Netherlands and is deeply imprinted in the culture and people of the two countries, the diplomat told Dau tu (Vietnam Investment Review). According to him, close cooperation between the two sides has resulted in new visions, as well as the blooming of business cooperation, with a growing number of Dutch companies doing business and investing in Vietnam. The Netherlands is the largest European investor in Vietnam. Dutch businesses, with their investments and their innovative and sustainable operations, actively contribute to Vietnam’s progress, he said. “Even more significant, Vietnamese companies are setting up businesses in the Netherlands as well,” he said. Regarding the two countries’ cooperation in green trade, Kees van Baar said that both Vietnam and the Netherlands are delta countries and therefore vulnerable to rising sea levels resulting from climate change. The countries also share the same ambition … [Read more...] about Vietnam, Netherlands eye further cooperation in sustainable development

A scence of Ko Tam village Covering an area of 17 ha, the Ko Tam eco-tourist site is based on the combination of natural settings and distinctive architecture like E De traditional long houses, upstream water wharf, and a wood statue garden. Traditional customs, practices, and festivals of the E De, especially those during major occasions, have been maintained. A local festival is characterised by a bonfire, the sound of gongs, the wine drink out of a jar through pipes, and the guest welcoming ritual. H Sinh E Ban of the E De ethnic group is a tour guide in Ko Tam. She said this job helps her better understand her group’s traditional culture and introduce it to visitors. “This ecological tourist site is built to protect the culture of local ethnic minority groups including the E De. Tourism makes the E De culture better known to both Vietnamese and foreign people,” said H Sinh E Ban. Vu Vo Thuy Dung, a visitor, who participated in a performance night said “In Ko Tam, … [Read more...] about Ede ethnic village is developed into a tourist destination

Venus Teoh (left), SABECO’s deputy general director for marketing, received the Inspirational Brand award Shares in SABECO have been a winner in recent times. On the local stock market, SABECO (code SAB) shares in the first week of 2023 saw three consecutive rises, reaching a high of VND183,500 ($7.90). The brewer attained bright financial prospects for 2022 thanks to the recovery of socioeconomic activities. Although it targeted $1.5 billion in net revenues and $200 million in after-tax profit for the year, a respective increase of 32 and 17 per cent on-year, SABECO accomplished 96.6 per cent of its profit goal in the first nine months alone. SABECO was one of the few firms in the Vietnamese stock exchange system to retain annual dividends last year due to its potential in the consumer sector, annual cash flows, and sizable cash reserves. In particular, the business paid a dividend of 35 per cent in both 2019 and 2020, and a similar payment was attained for 2021. Last year, … [Read more...] about SABECO thriving on 2022 results

In an article in late December focused on Vietnam’s strong economic growth in 2022, S D Pradhan, who once served as chairman of India’s Joint Intelligence Committee, pointed out many bright prospects for cooperation in the economic sphere between the two countries. He mentioned the potential of cooperation in IT and engineering. “India can help provide skill training to Vietnamese on a larger scale. In the digital sector, India’s assistance can be of great value to Vietnam for enhancing the ease of doing business,” Pradhan wrote. Vietnam-India cooperation blossoming in technology and engineering spheres, illustration photo/ Le Toan Vietnam has set priorities at the 13th National Party Congress that include national digital transformation, developing a digital-based economy, greater stress on science and technology, and creating a conducive environment for business development and manufacturing. Vietnam is accelerating its digital transformation trajectory towards … [Read more...] about Vietnam-India cooperation blossoming in technology and engineering spheres