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Illustrative image (Photo: VNA) Hanoi (VNA) -  In the early days of this year, Hoa Phat Group secured many orders to export its steel products to the US, Canada, Mexico, Puerto Rico, Australia, Malaysia, Hong Kong (China), and Cambodia. The firm’s export volume in January reached 46,000 tonnes. Hoa Phat produced 392,000 tonnes of crude steel in January, equaling 56% of the output reported in the same period last year. The sales of construction, billet and hot rolled coil steel reached 402,000 tonnes, equivalent to 64% of the sales in the first months of 2022. With an annual capacity of manufacturing 8.5 million tonnes of crude steel , Hoa Phat now leads the market share in construction steel and steel pipes with 36% and 29%, respectively. Based on the market situation, the group has adjusted its production and business plan flexibly, in line with market developments. It is striving to implement the Hoa Phat Dung Quat Iron and Steel Production Complex 2 … [Read more...] about Hoa Phat receives many orders to export steel in January

Some food and beverage products from a cooperative in Ben Tre province attract consumers. (Photo: vnbusiness.vn) Hanoi (VNS/VNA) - After the Lunar New Year holiday, many cooperatives, especially those in the food and beverage (F&B) sector, have accelerated their production to fulfil domestic and export orders. Ly Hong Tien, Director of Hau Giang Xanh Cooperative in Hau Giang province, told vnbusiness.vn that thanks to the links her cooperative has established with distributors, it was completing many orders of processed that lat fish to serve local demand and that for exports. According to experts, though economic difficulties would continue in 2023, there remained untapped business opportunities for small firms and cooperatives in the F&B industry. Experts said that when an economy was unstable, investors intended to return to industries with high demand as the F&B sector is an essential industry. A recent report by iPOS.vn said that Vietnam had around 338,600 … [Read more...] about F&B cooperatives seize new opportunities amid economic difficulties

Some food and beverage products from a cooperative in Ben Tre Province attract consumers.— Photo vnbusiness.vn After the Lunar New Year holiday, many cooperatives, especially those in the food and beverage (F&B) sector, have accelerated their production to fulfil domestic and export orders. Ly Hong Tien, Director of Hau Giang Xanh Cooperative in Hau Giang Province, told vnbusiness.vn that thanks to the links her cooperative has established with distributors, it was completing many orders of processed that lat fish to serve local demand and that for exports. According to experts, though economic difficulties would continue in 2023, there remained untapped business opportunities for small firms and cooperatives in the F&B industry. Experts said that when an economy was unstable, investors intended to return to industries with high demand as the F&B sector is an essential industry. A recent report by iPOS.vn said that Viet Nam had around 338,600 restaurants and … [Read more...] about Food and beverage cooperatives seize new opportunities amid economic difficulties

Nguyen Hoang Trung, CEO of one of only two delivery startups in Vietnam, told VnExpress that Loship suffers "very little" loss. Last year its revenues increased by 500% thanks to business optimization with 250,000 locations and more than five million customers. It expects to turn profitable this year. Losing money is the norm in the food delivery and ride-hailing industry. As of 2021, Grab Vietnam had chalked up cumulative losses of VND4.365 trillion (US$186 million). Gojek is also VND4 trillion in the red. Both incur huge selling expenses running ino trillions of dong. Nguyen Hoang Trung, CEO of Loship. Photo by VnExpress/Quynh Nhu This year the industry faces pressure from rising fuel prices. Trung said all other apps are also affected by Regarding the increase in gasoline price, this but "honestly not too much". When the Russia-Ukraine war took place, it was a nightmare in the beginning. But so far, the gas price has not changed too much and it’s … [Read more...] about Vietnamese delivery app on the brink of turning profitable

According to chairman of the Vietnam Real Estate Brokers Association Nguyen Van Dinh, Vietnam’s real estate market is not repeating the crisis cycle which occurred in 2012. Varying factors to determine the fate of real estate, photo baodautu.vn “Currently, urban development is high and infrastructure investment is taking place strongly, along with the rocketing increase demand for housing. So the demand for investment in real estate is rather high. These are the factors that create a great motivation for the market’s ability to recover,” Dinh told VIR. Banking and finance expert Can Van Luc added that the market will be revived by the end of the year. “When banks have new credit room, real estate will see more transactions from homebuyers. Real demand is expected to be a bright spot during the year,” Luc said at a forum on forecasting the real estate market organised by the Vietnam Real Estate Association in Hanoi on January 3. Do Thu Hang, senior director of … [Read more...] about Varying factors to determine the fate of real estate

The conference featured Prime Minister Pham Minh Chinh, and top government officials, including minister of Planning and Investment Nguyen Chi Dung and minister of Industry and Trade Nguyen Hong Dien. The 2.2GW Son My 2 CCGT power plant will be located in Binh Thuan province. The $1.8 billion plant will have a 20-year contract with the Vietnamese government. Speaking at the conference, Joseph Uddo, president of AES Vietnam said, “The investment policy for Son My 2 CCGT power plant marks a significant milestone enabling us to move ahead with the project. “We are honoured to receive the approval in this significant event today on the action plan to implement Resolution No. 26-NQ/TW of the Politburo, recognising the importance of the power plant project in ensuring energy security, promoting international investment and the socioeconomic development of Vietnam.” Son My 2 complements AES’ investment plans in gas infrastructure in the country and the … [Read more...] about AES receives investment policy for Son My power plant

Vietnam is enjoying global rice price rises as local exporters are receiving more orders. Vietnam's rice export prices hit two-year high. Illustrative photo The export price of Vietnamese rice on February 5 increased by USD15 per tonne compared to last month, with broken rice prices reaching USD453-473 per tonne, the highest level recorded over the past two years. However, prices were still lower by USD 20 and USD 10 compared to that of Thai and Pakistani rice, respectively. Last December, Vietnamese broken rice enjoyed the world's highest prices, ranging between USD 418-438 per tonne, about USD 20 higher than Thai rice. According to Do Ha Nam, vice chairman of the Vietnam Food Association, rice prices are rising in the first months of 2023 due to the prolonged Ukraine War and the world's fluctuating socio-economic situation. "Some of our big customers including China, the Philippines, and some African countries made larger orders," Nam said. "The … [Read more...] about Vietnam’s rice export prices hit two-year high

Illustrative image (Source: vneconomy.vn) Singapore (VNA) – The upcoming visit to Singapore by Prime Minister Pham Minh Chinh is expected to open up important orientations for the bilateral ties, especially in digital technology and green transition, an expert has said. PM Chinh, his spouse, and a high-ranking delegation of Vietnam will pay an official visit to Singapore from February 8 to 10. In an interview granted to the Vietnam News Agency, Associate Professor Vu Minh Khuong from the Lee Kuan Yew School of Public Policy said the visit holds great significance. It takes place in the context of the two countries getting out of the COVID-19 pandemic with the hope for stronger growth, he explained, noting that their cooperation opportunities abound. The world is experiencing complex changes, and this prompts the two countries to conduct more regular and in-depth exchanges to reach common perceptions in order to sail through the challenges and tighten their … [Read more...] about PM Chinh’s Singapore visit to pave way for digital technology, green transition cooperation: expert

The 39-year-old country singer turned heads with a custom, black down dripping in silver fringe. The gown was developed from a design in Le Thanh Hoa's collection named Sa Vu, which was released in April last year. Lambert chose black, pointy-toe heels to go with the dress and avoid using too much jewelry and accessories. Miranda Lambert (L) and her husband Brendon McLoughlin on the Grammy Awards red carpet on February 5, 2023. Photo by AFP Hoa said Lambert's team contacted him in late December and ordered the gown for the 65th Grammy Awards. He combined the available design with Lambert's country style to produce an elegant and attractive look. It took him 168 hours to complete the gown. Miranda Lambert is well-known for hits like "Tin Man" and "The House that Built Me." In her career, she has won three Grammys and is the most-awarded artist in the history of Academy of Country Music Awards with 29 wins. Le Thanh Hoa, 38, has designed outfits for many Vietnamese … [Read more...] about Miranda Lambert dons Vietnamese-designed gown at Grammys

Talking to the Vietnam News Agency, Doan Hoang Minh, Acting Director of the Ministry of Foreign Affairs (MoFA)’s Consular Department, said most countries removed travel restrictions in 2022, and Vietnam was one of the first to reopen its borders, in mid-March. Since then, the number of people going abroad for working, studying, tourism, and business purposes as well as those entering the country has bounced back strongly. Highlighting the ministry’s determination to build a comprehensive, modern, professional, clean, and strong diplomatic sector, he said that in the current context, as the government is stepping up administrative procedure reforms and demanding ministries and sectors boost measures for post-pandemic economic recovery, the ministry is deeply aware of its responsibility for continuing to improve the quality of consular services. Diplomatic staff members in Vietnam and abroad will work with the highest sense of responsibility and consider people’s satisfaction as the … [Read more...] about Improvement of consular services to continue: official