Pottery products

While striking an optimistic tone on sales of services and iPhones, CEO Tim Cook said an uncertain economy is expected to hurt categories like gaming and digital advertising. Overall, Apple's leaders tried to reassure investors that despite the firm being buffeted by up-and-down sales cycles for its flagship device and vulnerable to supply chain shocks, the world's largest listed company remains on a steady - if somewhat slower - rise. And in the immediate aftermath of some of the company's worst financial results in years, at least some investors seemed to give Cook the benefit of the doubt, imposing only modest share price declines. For the just-ended quarter, Apple's profits missed Wall Street expectations for the first time since 2016, dragged down by iPhone sales falling for the first time since 2020. The stock was down about 2% after Chief Financial Officer Luca Maestri said that iPhone sales were likely to improve compared with the quarter ended Dec. 31. That did not quite … [Read more...] about Apple forecasts another drop in revenue, proclaims iPhone production problems over

Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan speaks at 2023 Mandiri Investment Forum (Photo: antaranews) Jakarta (VNA) - Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has expressed his hope that the largest economy of Southeast Asia will not import petrochemical products from 2027 thanks to petrochemical industry development in North Kalimantan’s green industrial area. Speaking at the “ 2023 Mandiri Investment Forum ” on February 1, he said that the country plans to build the largest petrochemical industry at the Tanah Kuning Kalimantan Industrial Park Indonesia (KIPI) in North Kalimantan province, which will be turned into the world’s biggest integrated industrial area. The total investment potential of the industrial area has reached 132 billion USD. The figure includes the investment potential for developing hydropower plants and solar panels with a total capacity of … [Read more...] about Indonesia expects to end import of petrochemical products from 2027

An overview of Ho Chi Minh City (Photo: VNA) HCM City (VNS/VNA) – Ho Chi Minh City is likely to face hurdles caused by a global recession this year and escalating uncertainty, Vice Chairman of the municipal People’s Committee Duong Anh Duc has warned. Speaking at a meeting on February 1, he said the global economic slowdown and inflation would impact the city’s socio-economic development, slowing its recovery. Global growth is expected to decrease from 3.2% last year to 2.7% this year, he said. The real estate, stock and bond markets are all expected to face huge challenges this year amid tightening monetary policy, according to Duc. Many local businesses lack orders because of the weak global demand, and the situation would not improve until the middle of the year, he said. The city would organise meetings to discuss measures to support businesses and workers, and seek ways to supply the economy with capital amid the tight monetary policy, Duc said. For … [Read more...] about HCM City to face economic challenges, recovery to be hit

Although in 2022, the country posted a record aquatic export value at 11 billion USD, the result mostly came from high growth in the first three quarters. (Photo: VNA) HCM City (VNA) – Despite a downturn in the export of aquatic products in the first month of 2023, local exporters remain optimistic that the market will recover from the second quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). The association reported that in January, total export value of aquatic products dropped 31% to about 600 million USD, with revenue generated from major markets also falling, by 56% in the US market, 55% in China, and 35% in the EU market. According to VASEP, although in 2022, the country posted a record aquatic export value at 11 billion USD, the result mostly came from high growth in the first three quarters. The trend reversed in the fourth quarter of 2022, with strong decreases seen in all products as many foreign markets … [Read more...] about Seafood firms look to second quarter for exports to recover

By 2025, the Ministry of Information and Communications expected Vietnam to have 80,000 digital tech firms, meeting at least 50% of digital tech and services from state agencies. Vietnam aims for the digital technology industry to lead the implementation of Industry 4.0 in the country, with revenue growth 2.5 times higher than the overall GDP expansion rate. ICT to help Vietnam realize the digitalization process. File photo The target was revealed in the Ministry of Information and Communications (MIC)’s directive for information and communication technology (ICT) development in 2023 and the 2024-2025 period. "Digital technology focused on design, creation, and manufacturing in Vietnam is the main industrial sector driving the nation's industrialization and modernization, contributing to greater digitalization capability and shaping a digital country," the MIC stated. Under the plan, the ministry expected revenue from the ICT sector would hit US$165 … [Read more...] about Digital technology to spearhead Vietnam’s drive for Industry 4.0

Vietnam's real estate market continues to show strong appeal to foreign investors despite global economic difficulties. The foreign direct investment (FDI) into Vietnam’s real estate market in 2022 rose by over 70% yearly to US$4.45 billion, focusing on industrial and large-scale commercial projects, according to the Ministry of Construction (MoC). Real estate projects in Hanoi. File photo The MIC’s report suggested that real estate stands second among sectors with the highest FDI attraction in 2022, which showcases “the strong appeal of the market to foreign investors amid a difficult global economic environment.” Neil MacGregor, Managing Director of Savills Vietnam, echoed this view by saying foreign investors remain attracted to Vietnam, especially in production, retail, logistics, and real estate. He expected the attention from foreign investors would help the local real estate accelerate the recovery process this year. Regarding this sentiment, HSBC … [Read more...] about FDI to Vietnam’s real estate rises by over 70% in 2022

Last year, Vietnam’s export revenue of agro-fishery-forestry products set a record high of 53.22 billion USD, up 9.3% year-on-year. However, Europe accounted for only 11.3% of its market share. This is a modest number, although the agricultural sector has optimized many advantages of the E.U. - Vietnam Free Trade Agreement (EVFTA). One of the main reasons is said to be the union’s high requirements on farm imports, while Vietnam’s agricultural production has yet to meet green growth requirements. According to the World Bank’s report, agriculture is the second highest emitter, accounting for 19% of the nation’s total gas emissions in 2020. About 48% of the sector’s emissions and more than 75% of methane emissions are from rice production. Therefore, to boost farm exports to the E.U., the sector is advised to pay more attention to green growth indicators through making policies and roadmaps to reduce greenhouse gas and methane emissions in accordance with international … [Read more...] about Vietnam develops green agriculture to increase exports to E.U.

Nearly 9,000 petrol stations nationwide have sent a group letter to PM Pham Minh Chinh, asking for his support to amend petrol trading regulations. Illustrative photo In their letter, the petrol retail businesses complained that many policies have become outdated, causing them great losses. They called for the amendment of Decree 83/2014 and Decree 95/2021 on petrol trading. The decrees regulate that petrol retail businesses can only sign contracts with one supplier and are often dependent on them, badly affecting their competitiveness. "That only supplier usually refuses to sell the products ahead of a price hike as they want to wait and get higher profits," the letter said. "As such, we sometimes have to close due to a lack of supply." The retailers proposed that local authorities allow them to get products from at least three suppliers. The proposal has received support from the Ministry of Industry and Trade, which said that the decrees should be … [Read more...] about Nearly 9,000 petrol stations call for support from PM

At the event (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on February 2 asked the Government, ministries, agencies and localities to boost production and trade, deal with difficulties to be faced by businesses and people this month to achieve rapid and sustainable socio-economic development. Chairing the Government’s monthly teleconference with localities, PM Chinh said since the beginning of this year, the Government has followed the Party Central Committee’s conclusions, the National Assembly and Government’s resolutions and Party General Secretary Nguyen Phu Trong’s directions on 2023 socio-economic development. Ministries, agencies and localities have also drastically performed their assigned tasks. In January, macro-economic situation was basically stable. The consumer price index rose by 0.52% month-on-month and 4.89% year-on-year. As of January 17, credit growth hit 0.65% compared to the end of last year, meeting public demand before and during the … [Read more...] about PM chairs monthly teleconference with localities

The country is forecast to be the second-fastest growing economy in Asia-Pacific this year. Vietnam would continue to prioritize macroeconomic stability and containing inflation in anticipation of greater challenges from both domestic and international fronts in 2023. Prime Minister Pham Minh Chinh at the meeting. Photos: VGP Prime Minister Pham Minh Chinh gave the remarks during a monthly Government meeting today [February 2]. According to Chinh, Vietnam’s socioeconomic performance in January has been positive with strong results in all fields and sectors, especially in industries, agriculture, and tourism. The World Bank in its latest global economic outlook report forecast Vietnam’s GDP in 2023 at 6.3% year on year, down 0.2% from the previous assessment, but still the second highest in Asia-Pacific. In addition to economic development, the authorities have taken measures to ensure social welfare and provided financial support for 25 million eligible … [Read more...] about Vietnam prioritizes macroeconomic stability in 2023: PM