Often manufactured overseas

Vietnam continues to benefit from its broad re-opening strategy, which saw a huge crowd flocking to tourist hotspots in the country and household spending rebound. Vietnam’s economic recovery is gaining momentum despite heightened global uncertainty related to the protracted war in Ukraine, higher commodity prices, and tightening global financial conditions, according to the World Bank. Cargo handling at Dinh Vu port, Haiphong. Photo: Cong Hung In its latest report, the World Bank pointed out the robust growth of industrial production by 9.4% in April, comparable to pre-pandemic rates. Manufactures of apparel, footwear, electronics, electrical equipment, and metal products were the most dynamic sub-sectors, registering double-digit growth rates, it added. However, machinery manufacturing slowed from 26.6% year-on-year in March to only 5.1% in April. This deceleration was related to supply chain disruptions caused by lockdowns in China, which led to a … [Read more...] about Vietnam’s economic recovery gaining momentum

There should be special mechanisms for economic ties between the two countries. The governments of Vietnam and Laos are closely working on the construction of the Hanoi-Vientiane expressway project that will facilitate sea access to land-locked Laos. Chairman of Vietnam’s National Assembly Vuong Dinh Hue speaks with Vietnamese businesses in Laos on May 15. Photos: Quochoi The information was released by Chairman Vuong Dinh Hue of Vietnam’s National Assembly who is on his three-day visit to Lao starting on May 15. Hanoi-Vientiane expressway, which is being built with funding from Japan, will enable Laos to access the sea in Vung Ang Seaport, Vietnam’s central province of Ha Tinh. Launched in 2016, the 725-km project, with an estimated investment of US$4.5 billion, is expected to boost economic connectivity between the two countries and Thailand’s northeast. Hue said the two countries' economic ties need to be boosted to become commensurate to the strong … [Read more...] about Vietnam, Laos boost construction of road linking two capital cities

During the 2016-2020 period, the two-way trade saw stable expansion and reached the target of over 1 billion USD, but then suffered from the impact of the COVID-19 pandemic and natural disasters. The Asia-Pacific Market Department at the Vietnamese Ministry of Industry and Trade (MoIT) said that the bilateral trade exceeded 1 billion USD in 2020, down 11.5 percent year-on-year, of which Vietnam’s exports were worth 571.7 million USD, down 18.5 percent. However, the bilateral trade bounced back since early 2021, surging 33.3 percent to 1.37 billion USD for the year, with Vietnam’s export revenue reaching 594.7 million USD, a rise of 4 percent from 2020, and its import hitting 778.2 million USD, up 69.8 percent. The results are attributable to the political resolve by Vietnamese and Lao leaders and the drastic management of competent agencies to remove obstacles facing businesses of the two countries and create optimal conditions for them to quickly adapt to the new situation. In … [Read more...] about Vietnam – Laos trade ties growing sustainably

Samsung completed another major part of the construction of the R&D centre in Hanoi The above ceremony marks the completion of 70 per cent of the workload. Samsung ensures that the construction goes on as planned and expects to take the centre into operation by the end of this year as previously committed to the government. Choi Joo Ho, general director of Samsung Vietnam said, “Through the centre, Samsung targets to foster the study capacity of Vietnamese talents in AI, IoT, big data, and 5G to create a premise for the country to be ahead of the pack with the changes of the Fourth Industrial Revolution.” Ho added, “The R&D centre not only proves Samsung’s long-term investment commitment in Vietnam but also shows the group’s determination to support the country in becoming the leading manufacturing hub in Southeast Asia.” The centre has the total investment of $200 million, and the construction was started in March 2020. The project’s construction was going on as … [Read more...] about Samsung completed parts of construction of R&D centre in Hanoi

Prime Minister Pham Minh Chinh attended the opening ceremony of FPT Software's new office in New York City Speaking at the ceremony, Prime Minister Pham Minh Chinh stressed the importance of the event in the context of Vietnam’s rapid recovery after the pandemic, showing the country’s sustainable socioeconomic development with a focus on technology and innovation. The PM believed that FPT would develop faster and stronger, contributing to the development of science and technology among Vietnam’s businesses. Dang Tran Phuong, CEO of FPT Americas said, “This is a milestone asserting our rapid and strong growth in the world's largest economy. In the next three years, we expect the new office to contribute 20 per cent of FPT Software's total revenue in the US, with the number of employees working directly with US reaching 5,000 people." This is FPT Software's 10 th office in the US and the company's 58 th worldwide. The new office is located at 295 Madison Avenue in New York … [Read more...] about FPT Software opens 10th office in the US

VGreen notes that healthier drinks are the party trend of the future A decade ago, “green consumption” was still very new to consumers. This not only made it difficult for businesses and manufacturers in the food and beverage sector but also hindered the needs of customers to access healthy products. Established in 2006, VGreen has been a pioneer in the production of alcohol substitutes with ingredients mainly from fresh tropical fruit and green tea from Vietnam. From the successful experience of producing pure fermented grape wine and juice in the central province of Binh Thuan in 2015, the brand continues to resonate, becoming the pioneer in producing Kombucha tea from Thai Nguyen tea in a cooperation programme with Thai Nguyen Department of Science and Technology. VGreen works with Vietnamese provinces to use their fruit materials Faithful to the mission of building and spreading a safe and healthy lifestyle, VGreen puts quality, sustainable efficiency, and … [Read more...] about VGreen spreading vast benefits of living greener

Jakarta (VNA) - Air Products & Chemicals - a multinational industrial gas and chemicals manufacturer headquartered in the US, has carried out the first phase of its investment in projects worth 7 billion USD in Indonesia over the past two years. According to Bahil Lahadalia, Minister of Investment and head of the Investment Coordinating Board of Indonesia (BKPM), this figure accounts for nearly half of the 15 billion USD investment commitment of the company in Indonesia. The company has poured money in dimethyl ether and methanol production projects in the Balongan district of West Java province. Minister Bahil announced the above information after a meeting between President Joko Widodo and Seifi Ghasemi, President and Chief Executive Officer of Air Products, on May 13 in Washington D.C. According to Bahil, the sides discussed the development of an industry upstream to downstream in the petrochemical sector. He said at the meeting, President Jokowi emphasised the … [Read more...] about US company pours 7 billion USD into Indonesia

Prime Minister Pham Minh Chinh has asked the Vietnamese Embassy in the U.S. to call on the U.S. government to recognize Vietnamese communities in the country as one of its ethnic minorities. PM Chinh visited the embassy in Washington, D.C. on Saturday as part of his trip to the U.S. to attend the U.S. - ASEAN Special Summit from May 11 to 17, at the invitation of U.S. President Joe Biden. The PM praised the embassy’s efforts in realizing the external policy of the Party and the state, promoting the image of the nation and people of Vietnam, and contributing to fostering the Vietnam – U.S. comprehensive partnership. The embassy should maintain its good performance in overseas Vietnamese affairs, including citizen protection, and request the U.S. government to recognize Vietnamese communities in the U.S. as an ethnic minority of the country, the Vietnam Government Portal cited the PM as saying. He also requested the embassy to take prompt actions in implementing relevant … [Read more...] about Vietnam seeks US recognition of local Vietnamese communities as ethnic minority group

He first goes out for a five-kilometer jog, returns home to work for an hour or two and then has some spare time before resuming work in the afternoon. Though his days are productive, for the 30-year-old software engineer in HCMC, working remotely for U.S.-based software company Acumatica gives him much greater flexibility than a traditional office job. As more and more global companies look to developing economies for skilled English-proficient workers at relatively lower salaries, in Vietnam, many young people like Dang are embracing the opportunity to acquire a whole new working experience. "The only difficulty is the different time zones," Dang, who has been working for Acumatica for four years as a regional product engineer, says. Every day, after meeting online with the North American team at 5 a.m, Dang also meets his colleagues in Singapore, Malaysia and the Philippines at 7 a.m. and in India and Sri Lanka at 5 p.m. Huynh Minh Dang during a business trip to … [Read more...] about Working remotely for foreign employers opens up dynamic lifestyle

People choose food products at a Saigon Co.op supermarket in HCM City. — VNA/VNS Photo To strengthen food safety, HCM City’s Food Safety and Hygiene Management Board will closely monitor foods sold by retailers to ensure customers buy products with clear origin. City authorities are also encouraging consumers to buy products with clear labels on origin. The board, the city Department of Industry and Trade, and supermarkets and convenience stores have been instructed to keep strict control over food quality. Pham Khanh Phong Lan, head of the board, said food production, processing, distribution, and import-export establishments would be closely monitored. "Consumers like to buy food at traditional markets because they may be cheaper" but some products lack clear origins, she said. "Upgrading food quality in traditional markets and enhancing modern distribution systems is essential." Enterprises must comply with food safety regulations, work with the board to carry out … [Read more...] about HCM City strengthens food quality control