Supply chain

HCM City (VNA) - The recently-signed Regional Comprehensive Economic Partnership (RCEP) agreement will create opportunities for Vietnam’s agricultural products to extend their reach in the region and the world, experts have said. Le Duy Minh, President of the Vietnam Farms and Agricultural Enterprises Association, told a meeting in Ho Chi Minh City on January 15 that the agriculture sector has been integrating intensively and extensively into the world but also faces considerable difficulties and challenges, including the impact of the COVID-19 pandemic, climate change, trade disputes between major economies, and an increase in technical barriers in many countries. Vietnam signed a number of important economic deals in 2020, heralding a new era of economic integration with opportunities to expand export markets and attract more domestic and foreign investment. Among the deals, the RCEP, which gathers together 10 ASEAN countries and five partners (the Republic of Korea, China, … [Read more...] about RCEP to help farm produce expand presence in global markets

Hanoi expects to have about 1,000 support industry companies by 2025 with 40 percent capable of joining the global manufacturing network. These industries are expected to create about 18 percent of the production value of the capital’s manufacturing and processing industries. Nguyen Duyen … [Read more...] about Hanoi promotes growth impetus for support industries

Hanoi (VNA) – The International Finance Corporation (IFC) – a member of the World Bank Group – has signed an agreement to provide another 40 million USD for the Orient Commercial Bank (OCB) to help it with the support of COVID-hit clients, especially small- and medium-sized enterprises. The one-year renewable senior loan offers OCB additional liquidity to continue lending to businesses as the bank is offering payment relief to its borrowers at the same time. OCB will prioritise clients working in sectors facing direct impact of COVID-19 like tourism and production as well as those related to disease response activities. Nguyen Dinh Tung, CEO of OCB, said COVID-19 impacts are projected to continue for a long period of time, thus difficulties facing the business community, particularly small- and medium-sized enterprises (SMEs), remain tremendous.  … [Read more...] about Additional 40 million USD for Vietnamese bank to aid SMEs amid COVID-19

Ms May Chung, Chairperson of Hong Kong Food and Beverage Industry Advisory Board of GS1 HK, and General Manager of Nestlé Hong Kong Ltd commended the effort, "With growing emphasis on food safety, we have been working closely with the F&B industry, leveraging innovation, technology and global standards to ensure food safety and build consumer trust. The 'Trusted FoodNet' initiative by GS1 HK has our full support, which I believe will enhance the transparency of our trade. I hope industry peers will join the platform to increase trust among stakeholders, and raise the bar for food safety together." … [Read more...] about Global Industry Leaders Highlighted Food Safety Issues in Times of Pandemic at the 6th Food Safety Forum

To survive and thrive, food producers must adopt new business models by combining online and offline distribution, embrace digitisation, apply technology in the value chain from farm to table, and improve product quality and value and the customer experience, they added. — VNS … [Read more...] about Vietnamese food producers should embrace changing trends to survive