Philadelphia industrial development corporation

Project perspective of the Danh Thang - Doan Bai industrial cluster. — Photo fecon.com.vn Fecon Hiep Hoa JSC, a member of Fecon Group, officially received the decision to become the investor of the Danh Thang - Doan Bai industrial cluster, Hiep Hoa District, Bac Giang Province, the company said on Tuesday. The People's Committee of Bac Giang Province decided to establish Danh Thang - Doan Bai Industrial Cluster on December 26 last year. The project has an area of 75ha, located in Danh Thang Commune and Doan Bai Commune, Hiep Hoa District, Bac Giang Province. Fecon Hiep Hoa JSC is the investor to build technical infrastructure. The project has a total investment of nearly VND1 trillion. The company is responsible for planning, organising, managing and investing in the construction of technical infrastructure for the industrial cluster this year and start exploiting activities from the third quarter of next year. — VNS … [Read more...] about Fecon Hiep Hoa becomes investor of Danh Thang – Doan Bai Industrial Cluster

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

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

Taiwanese laptop maker Compal Electronics is accelerating procedures to kick off construction of a $260 million manufacturing facility this quarter. Lien Ha Thai is an industrial - service - urban zone that is professionally managed and operated, on a large scale, photo thaibinh.gov.vn The new facility will be located in Lien Ha Thai Industrial Zone (IZ) in the northern province of Thai Binh. Representatives of Compal and investor Green i-Park signed an agreement to rent land in the IZ in December. The facility is expected to commence operations by mid-2024. Once completed, it will have capacity of over four million products per year, involving items such as smartwatches, 5G modules, Internet of Things-based equipment, and tablets. Compal’s factory is the seventh in Lien Ha Thai IZ. Its other ventures involve high-tech activities funded by enterprises from Taiwan, South Korea, Japan, and the United States, such as the $120 million Lotes project to produce computer … [Read more...] about Localities benefiting from industrial zone squeeze

Fluctuations in the global market in 2022 have forced Vietnam to import petrol to meet the domestic market's demand. Statistics from the General Department of Customs show that the import volume of petroleum in December 2022 was more than 944,000 tonnes, valued at $823 million. It marked a 22.3 per cent month-on-month rise in volume and 10.9 per cent in value. In 2022, the country imported 8.87 million tonnes of petrol worth $8.97 billion, a sharp increase of 27.7 per cent year-on-year in volume and 118.5 per cent year-on-year. In which, imported diesel oil reached 4.74 million tonnes, increased by 1.5 per cent year-on-year and accounted for 54 per cent of imported petrol and oil of the whole country. The imported petrol volume reached 1.7 million tonnes, increased 2.3 times compared to the previous year and accounted for 21 per cent of imported petrol and oil of the whole country. Besides that, imported jet fuel reached 1.46 million tonnes, increased 2.2 times compared to the … [Read more...] about Ministry of Industry and Trade aims to stabilise petrol market

My Xuan A Industrial Park in My Xuan ward, Phu My town, Ba Ria-Vung Tau province. Photo: VNA Ba Ria-Vung Tau (VNA) – The southern province of Ba Ria-Vung Tau has planned various measures to remove difficulties facing businesses and boost the growth of the supporting industry . As part of the efforts to implement the Government’s Resolution 115 on promoting the supporting industry, Ba Ria-Vung Tau has called for enterprises with high capacity to join the global supply chain. Operating from April, 2021, Novas EZ Vietnam Co., Ltd. In B1 Conac Industrial Park in Phu My Town, which specialises in producing television mainboards, has become one of the strategic partners of Samsung as a supplier for the group. However, Novas EZ is only one of the few businesses joining the supply chain. According to the provincial Department of Industry and Trade, Ba Ria-Vung Tau is home to only 80 firms in the supporting industry for various sectors such as electronics, ship building and … [Read more...] about Solutions to develop Ba Ria-Vung Tau’s supporting industry

Illustrative photo (Source: AFP/VNA) Bangkok (VNA) - Thailand's industrial output further declined more than expected in December 2022, as a global slowdown hit demand for Thai exports, according to the Ministry of Industry . In the month, its manufacturing production index (MPI) dropped 8.19% from the same time in 2021, mainly due to lower production of furniture, hard disk drives and plastic pellets. Factory output is likely to fall again in January 2023 due to slowing global demand and a high base despite some support from increased domestic activity, the ministry said in a statement. In 2023, the ministry anticipated the MPI would increase 2.5%-3.5%, after a 0.62% rise in 2022. Industrial goods account for about 80% of Thailand ’s total exports, which in December contracted 14.6% from a year earlier./. VNA … [Read more...] about Thailand’s industrial production index falls sharply in December

Priorities for Hanoi in 2023 include the execution of major transport projects, carrying out a decentralization scheme within the state apparatus, and allocating funds for investment in culture, health and education. In 2022, Hanoi met all 22 socio-economic targets, including a real GDP growth rate of 8.89%, highlighting the great efforts of the local government, businesses and citizens to overcome challenges and drive sustainable development. Hanoi from above. File photo After a challenging period caused by the Covid-19 pandemic, the government adopted the approach of flexible and safe adaptation to the pandemic, finally laying the foundations for socio-economic recovery. Vietnam’s GDP growth in 2022 reached 8%, exceeding the target of 6-6.5% set by the National Assembly, and remained the highest in the region. Meanwhile, the country’s trade turnover surpassed the US$ 700 billion mark for the first time, and actual FDI disbursement was at a five-year high … [Read more...] about Hanoi maintains growth momentum for development

With Hanoi aiming to greet 22 million visitors this year, including three million foreigners, authorities and travel groups hope to latch onto the increasingly popular events and meetings industry to bump up numbers. Dang Huong Giang, director of the Hanoi Department of Tourism, noted that to reach the set target, which would be a rise of almost 18 per cent on-year, the city's tourism strategy will focus on developing specific tours involving destinations in Hanoi’s central and suburban areas, as well as several nearby localities with major attractions such as Ha Nam and Ninh Binh. The department will also step up efforts to promote waterway and golf tourism, with meetings and events deemed the ace factor to drive tourism growth in the city, Giang said. Events industry tours are also regarded as entailing faster growth compared to conventional tours. Many industry experts assume that despite being forzen in recent years, there is still ample room for the city to … [Read more...] about Hanoi’s tourism leaning towards meetings industry boost

Illustrative image (Photo: VNA) HCM City (VNS/VNA) - Domestic steel demand is expected to keep falling due to the property market slump and tightened monetary policy, economic downturn in many export markets and a rise in supply making the outlook for the industry in 2023 poor, analysts said. SSI Securities Corporation said the steel industry had a difficult 2022 with both exports and domestic sales decreasing in the second half of the year, and prices falling from the end of the year. Businesses’ profits went down significantly as a result. Analysts at VNDirect Securities Company said most steel companies reported dismal results. With the property market remaining in a slump, prospects for 2023 remain gloomy, especially in the first half of the year, they said. SSI Research said the stagnant real estate market and tightened monetary policy would drag down steel demand this year. Citing data from the Ministry of Construction , it said the number of apartment … [Read more...] about Steel industry to gradually recover in 2023