Steel what is the cost

Inside a wood production line of Truong Thanh Furniture Corporation. — Photo truongthanh.com As wood export turnover is rebounding with rising demand in the domestic market, the revenues of wood enterprises are expected to advance. However, skyrocketing prices of raw materials and logistics costs will weigh on these companies’ gross profit margin in 2022. VNDIRECT Securities Corporation (VNDIRECT) estimated that the total revenue of listed wood and wood products companies in the first quarter (Q1) of 2022 rose by 10.2 per cent year-on-year thanks to the recovery of wood producers in the south. After the social distancing order was lifted, most wood companies in the southern region resumed operations at 90 per cent capacity in the first quarter of 2022, while in the second half of 2021 it was only 60-65 per cent. The export wood enterprises achieved better business results in Q1 of 2022. Specifically, Truong Thanh Furniture Corporation (HoSE: TTF) and Phu Tai JSC (HoSE: PTB) … [Read more...] about Rising costs cast doubt on wood companies growth prospects

"If we do not operate regularly, we will lose our slots at bus stations, but the more we operate, the more we lose because of surging costs," Do Van Bang, CEO of Sao Viet’s parent company, Minh Thanh Phat, said. Sao Viet has reducing the number of trips to cut costs. Bang said the only way to break even is to increase fares by 15-20 percent, but with competition being intense, the time is not right for it. But the company would not be able to absorb the losses for long, he added. The company is one of many to lose due to the 39 percent rise in fuel prices since the beginning of this year. Nguyen Manh Hung, CEO of transport firm International Logistics, said fuel accounts for 40 percent of costs, and so the increases in their prices has affected the company. It is not easy to negotiate price hikes with customers, he said. "We are trying to cut all other expenses to survive the fuel price surge." Half of all fishing vessels in Vietnam have stopped going out to sea … [Read more...] about Industries hit hard by rising fuel prices

The e-GP would allow effective and transparent management of the public procurement process. Vietnam’s e-government procurement (e-GP) system is set to start operations on August 1, 2022. The new procurement system is set to operate on August 1. File photo The new procurement system, updated with new changes and designed to operate on multiple browsers, would help serve as a hub of information related to procurement, as well as a platform for the online bidding based on safety, competitiveness, fairness, and cost-efficiency. To ensure the smooth operation of the e-GP, participants in the bidding are requested to switch to the new system from the old one. The e-GP is developed under a project of applying e-commerce in public procurement under the public-private partnership (PPP). The Ministry of Planning and Investment (MPI), IT company FPT, and the Investment and Development of National e-Procurement System Company are responsible for running the new … [Read more...] about Vietnam’s e-government procurement system set to launch in August

The project with a five-year construction period would be seen as gauge of the city's leadership and credibility. Hanoi identifies the success of the US$3.7-billion Ring road No.4 project as the pride of the city, which requires the utmost effort from every department and unit to ensure the best head start possible. Secretary of the Hanoi Party Committee Dinh Tien Dung. Photos: Thanh Hai Hanoi Party Committee Secretary Dinh Tien Dung gave the remarks at a meeting discussing the construction of the Ring road No.4 project connecting Hanoi and nearby provinces/cities. The project with an estimated investment capital of VND85.8 trillion (US$3.7 billion) received a go-ahead from the National Assembly last week and is slated for completion by 2027. With a total length of 112.8 kilometers, the Ring road would run through Hanoi (58.2 kilometers), Hung Yen (19.3 kilometers), and Bac Ninh (25.6 kilometers). At the meeting, delegates stressed the significance of … [Read more...] about Success of US$3.7-billion ring road project is Hanoi’s pride: City Party chief

VASEP proposed practical solutions to decrease logistics cost in the near future Chairman of Vietnam Tourism Association Vu The Binh stated that to promote the recovery of this industry in the near future, there must be new interesting tour packages to attract international tourists, along with favorable conditions to welcome them to Vietnam. He proposed a working session between the tourism and aviation industries to introduce the most reasonable prices for these new packages. Deputy General Secretary of Vietnam Association of Seafood Exporters and Producers Nguyen Hoai Nam shared that the high fuel prices have created pressure on many businesses, and many fishermen have stopped their work. He suggested some solutions to reduce logistics cost, including digital transformation among member businesses, which was wholeheartedly welcomed by Minister Dung with the promise to support any needy enterprises in order to increase their competitiveness. Vice Chairwoman of Vietnam … [Read more...] about Vietnam collecting feasible solutions to boost production, trading, investment

Tan Phu Plastic Company produces safe products to serve the local market. The "Zero Covid" policy of China means many Vietnamese producers lack input materials. (Photo courtesy of the firm) The worst sufferers were the electronics, wood, textiles, and footwear industries. According to the Ministry of Industry and Trade (MoIT), China was an important market for the export and import activities of Vietnam as it provides the majority of input materials for Vietnam's production, especially electronic components, machinery parts, fabrics and chemicals. MoIT said from 50 to 55 percent of raw materials and accessories for the textile, garment, and footwear industries originated from China. The country was currently implementing the "Zero Covid" strategy, which forced many factories there temporarily stop production to fight the pandemic. The import-export activities in the neighboring country were affected a lot by the shortage of containers at ports. Phan Thi Thanh Xuan, Vice … [Read more...] about Local enterprises lack materials due to China’s ‘Zero Covid’ policy

"Covid-19 vaccination is a requirement in the pandemic fight. As such, people need to get vaccinated as per existing regulations and at the right doses. The fact that localities are requesting people to sign forms to ‘take responsibility’ is to show their responsibility to the people," Phan Trong Lan, head of the General Department of Preventive Medicine, told press Monday. The statement was made as Covid-19 vaccination was slowing down in several regions, with many people refusing to get booster shots since they've already developed certain degrees of immunity from their previous shots and Covid-19 infections. The Ministry of Health has requested southern Vietnam localities to use up all their distributed vaccine doses before June ends, adding that people must sign forms to "take responsibility" if their decision not to get vaccinated causes an outbreak. The ministry however did not respond to the press regarding whether its decisions were based on any basis or precedents. Lan … [Read more...] about Covid vaccination refusal must be confirmed in print: official

Customers shop at Xom Moi Market in HCM City's Go Vap District. The price rises have been blamed on high transportation and feed costs. — VNA/VNS Photo Fruit, vegetable and meat prices increased sharply in HCM City last week amid the prolonged heavy rain in the south and rising gasoline prices. The price of pork has increased by VND15,000-30,000 per kilogramme since early this month to VND120,000-180,000 (US$5.1-7.7), and that of chicken by VND10,000-15,000 to around VND60,000. A kilogramme of pork rib at Ong Dia Market in Tan Binh District costs VND180,000, while bacon is VND160,000 and cutlets, VND140,000. The price of piglets is up 20 per cent from two months ago. The rises have been blamed on high transportation and feed costs. Egg prices have also increased sharply, and they retail at VND4,000-4,300 per chicken egg and VND4,300 in the case of duck eggs. But farmers, however, are still suffering losses because of the high prices of packaging, fuel and other inputs. … [Read more...] about Meat, vegetable prices shoot up in HCM City

Ha Nam Textile Company in Phu Ly, Ha Nam. Enterprises are encountering a number of difficulties after the COVID-19 pandemic and needed support to promote business and production recovery. — VNA/VNS Photo Tran Viet The Ministry of Planning and Investment will propose policies to remove obstacles for enterprises and enable them to seize opportunities to accelerate production and business, Minister Nguyen Chi Dung said. Dung promised at a meeting on Monday to listen to the difficulties of enterprises and raise solutions for the second half of this year, saying it was important to identify advantages and opportunities, as well as challenges, to raise policies to support enterprises and enable them to participate and not miss any chances. Enterprises are encountering a number of difficulties after the COVID-19 pandemic which has heavily socio-economic activities hard during the past two years. Labour shortages are one of the most common challenges facing industries. According to … [Read more...] about Ministry listens to firms’ difficulties, pledges to raise support

Ho Chi Minh City Greenery Parks Company Limited has cut down nine large trees on the streets around Ho Con Rua (Turtle Lake) in Ho Chi Minh City’s District 3, as they are at risk of being uprooted and pose danger to road users. Some of the trees are at the site for a subproject to upgrade sidewalks in the area, part of a broader project to upgrade Turtle Lake, but the company claimed that their removal was not related to the sidewalk renovation. The nine trees were chopped down as per permits issued by the municipal Department of Construction and the Infrastructure Management Center. Of the nine trees, two hopea odorata trees had rotten roots and seriously damaged trunks. An ancient Dipterocarpus alatus tree on Vo Van Tan Street was severed due to the impact of the sidewalk upgrade subproject in District 3, Ho Chi Minh City. Photo : Le Phan / Tuoi Tre The felling of the trees is aimed at ensuring safety for local residents during the rainy season as the … [Read more...] about 9 large trees in central district of Ho Chi Minh City chopped down