Products which are high in demand

The Vietnamese rice industry is set to benefit from the high demand and prices this year, with lower input costs leading to expanded profit margins for rice businesses. A rice field in Vi Thuy district in the Mekong Delta province of Hau Giang. Vietnam will benefit from the upward trend in rice prices due to limited supply. (Photo: VNA) According to an expert from Vietnam Securities Company Limited Bank for Foreign Trade (VCBS), the country's rice industry enjoys favourable factors, such as weather and geographical advantage. The prolonged drought in China has caused a decrease in the country's output for the 2021-2022 crop, leading to an anticipated six million tonne increase in rice imports for the 2022-23 crop. Meanwhile, inventories in the Philippines have declined due to typhoons and high fertiliser costs, leading to increased rice imports. The cultivated area in India has also dropped due to drought, making the decrease in supply - the main factor for … [Read more...] about 2023 set to be favourable for Vietnamese rice enterprises

Hanoi set a goal of creating new jobs for 162,000 workers this year. Hanoi has found jobs for more than 44,000 people in the first quarter of 2023, accounting for 27.5% of the year's plan, according to the city's Department of Labor, Invalids and Social Affairs. The job transaction event is held in Hoan Kiem District. Photo: Tran Oanh/ The Hanoi Times The result was attributed to applying the city's labor market development solutions. During the period, the city provided jobs for more than 10,000 workers from the city’s fund entrusted through the Vietnam Bank for Social Policies. As many as 728 were sent abroad under fixed-term contracts, and 3,443 people were recruited through the job exchange system, the municipal department added. More than 12,600 people found jobs through job counseling and placement services, and another 232 received vocational training courses worth VND1.02 billion (US$43,297). In addition, the unemployment insurance fund paid out a … [Read more...] about Over 44,000 jobs created in Hanoi in January-March

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Commercial banks that underwrite and sell corporate bonds have to buy them back if investors so demand, the central bank has said. It followed a meeting with voters (members of the public) the State Bank of Vietnam (SBV) held in Ho Chi Minh City amid the ongoing bond market troubles. Besides asking for underwriting banks to take responsibility for redeeming bonds, the voters also urged the SBV to tighten inspection of credit institutions to ensure they comply with regulations while investing in bonds. The SBV recently raided 11 banks and fined a number of them for violating regulations related to bond purchases. Under current regulations, banks must have an internal credit rating system and can only buy bonds if their bad debts ratio is below 3%. For bonds sold in the domestic market, when issuers cannot pay in full and on time the bond principal and interest, they must negotiate with bondholders for extending the term … [Read more...] about Banks underwriting bonds should buy back bonds: Central bank

International visitors come to Vietnam for tourism purposes, market surveys, and investment. They not only bring about revenue and profit for the aviation and tourism industries, but also are an important factor for economic recovery and development across the country. Bui Doan Ne - Deputy chairman, Vietnam Aviation Business Association With over 70 per cent of international visitors to Vietnam arriving by air, resuming international flight routes promptly will support aviation and tourism, enabling them to recover soon and increase their competitiveness. These are dynamic industries that contribute significantly to the country’s GDP growth and economic development. International tourism to Vietnam has recovered slowly compared to other regional countries due to tight regulations in other countries, particularly China. The conflict in Ukraine has increased fuel costs and travel restrictions to European markets. Difficult economic conditions have also affected … [Read more...] about More welcoming policies will rejuvenate tourism chances

Great minds from around the world have a wealth of knowledge and want Vietnam to be a digital pioneer, Photo: Cuong Minh At VIR’s forum on digital transformation on March 21, Do Tien Thinh, deputy director of the Vietnam National Innovation Centre (NIC), said that it is crucial to support innovation and help businesses achieve their emission reduction goals. “While technology groups seek to expand their customer base and provide tech solutions, local businesses require digital transformation and innovation,” Thinh said. “In response, the NIC acts as a mediator, connecting private sector businesses with technology solution providers to provide training for human resources in digital transformation and innovation.” The NIC has already collaborated with the likes of Siemens, Google, and Hitachi to implement innovation support programmes at factories. A very visible area of green digital transformation has been in manufacturing, with factories constantly seeking new approaches … [Read more...] about Greener, faster, smarter digital plans

Illustrative image (Photo: VNA) HCM City (VNA) – Domestic tuna exporters are targeting promising small markets to get out of current difficulties amid economic fluctuations in big importing countries. Data from the General Department of Vietnam Customs showed tuna export revenue dropped 13% in February with no signs of improvement in March. Total tuna export value in the first three months of this year is estimated at 160 million USD. According to the Vietnam Seafood Producers and Exporters (VASEP), the price of Vietnamese tuna is higher than that of other suppliers in major markets such as European countries and the US, but the increasing prices of material tuna are slowing down the flow of orders from importers, affecting Vietnam’s tuna exports to these markets. Nguyen Ha, an expert from VASEP, forecast that Vietnam will continue to see a sharp drop in tuna export in the coming months. Among the Comprehensive and Progressive Agreement for Trans-Pacific Partnership … [Read more...] about Tuna exporters aiming for smaller markets

FPT Retail is the owner of consumer electronics chain stores FPT Shop and pharmacy chain Long Chau, while Mobile World is the owner of consumer electronics chain stores The Gioi Di Dong (Mobile World) and Dien May Xanh, as well as drugstore chain An Khang, and food and consumer goods chain stores Bach Hoa Xanh. Drugstores of Pharmacity (left) and FPT Retail's Long Chau located next to each others in HCMC's Binh Thanh District. Photo by VnExpress/Quynh Tran According to documents prepared for its coming annual meeting in mid-April, FPT Retail plans to make pre-tax profits of VND240 billion (US$10.17 million) in 2023, down from VND485 billion in 2022, and VND554 billion in 2021. The main reason behind FPT Retail’s low expectations is difficulties at FPT Shop, the company’s retail chain. Last year FPT Shop contributed nearly 70% of FPT Retail’s VND30 trillion in total revenues. With both financing costs and inflation still rising, FPT Retail management has assumed … [Read more...] about Top electronics retailers Mobile World and FPT Retail facing a rough year