HCM City eyes 10 percent growth in export in 2021 Shrimps processed for export Ho Chi Minh City’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the statistics office Huynh Van Hung said COVID-19 has been largely brought under control around Vietnam, resulting in the production sector exhibiting signs of recovery. Local enterprises, however, continue to face difficulties as many major trading nations are yet to open their markets. He noted that enterprises are in need of diverse and long-term support relating to information on importers of materials and fuel, new markets and partners, and domestic consumption stimulus measures. According to Nguyen Phuong Dong, Director of the municipal Department of Industry and Trade, despite facing myriad challenges, last year the city still saw five goods post export turnover in excess of 1 billion USD: computers-electronic products and components, with 17.8 billion USD; garment-textile 4.3 billion USD; footwear 2.2 billion USD; machinery-equipment-spare parts 2.2 billion USD; and other goods 6.9 billion USD. Together their export value accounted for 83.5 percent of the city’s total. Key export …
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Vietnam to host 2021 World Team Tennis season in mid-June
The four- day competition is expected to take place at Hai Dang Tennis Club in Tay Ninh Province. According to the regulations, Vietnam team will compete with eight national tennis teams of Hong Kong (China), Syria, Sri Lanka, Kuwait, Qatar, Jordan, Malaysia and Pacific Oceania including players from Oceanian countries except for Australia and New Zealand. 2021 World Team Tennis season will take place at Hai Dang Tennis Club in Tay Ninh Province. Vietnamese top tennis players including Ly Hoang Nam, Trinh Linh Giang, Le Quoc Khanh, Pham Minh Tuan, Nguyen Van Phuong, Vu Ha Minh Duc, Nguyen Dac Tien under training of Head Coach of Vietnam national tennis team Truong Quang Vu will join in the regional sport event. According to General Secretary of Vietnam Tennis Federation Mr. Doan Thanh Tung, the Vietnam Tennis Federation will ask the World Tennis Federation to suspend the event if the pandemic situation is more complicated. By Gia Man- Translated by Huyen Huong …
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Huge investment potential for Vietnam coastal industrial zones
The Hanoitimes - Coastal areas in Vietnam are set to receive attention from investors similar to those in China and Thailand, according to CBRE. Vietnam’s coastal economic and industrial zones are set to become potential investment destinations for both local and foreign enterprises looking to expand their operations. Coastal real estate at Phu Yen province. A recent study on industrial real estate from CBRE suggested there is huge investment demand for coastal economic and industrial zones in China and Thailand. As such, coastal areas in Vietnam are set to receive the same attention in the near future. Under this context, Vietnam’s coastal localities such as Hai Phong and Quang Ninh in the North are focusing on expanding the industrial land resources. Recently, Hai Phong, one of the largest industrial centers in Vietnam, is home to major industrial estate development projects, including the construction of industrial parks DEEP C Hai Phong II and III, as well as those from Vinhomes, the real estate arm of conglomerate Vingroup. Quang Ninh, on the other hand, has emerged as a coastal industrial province, with a focus on manufacturing and processing. Investors of industrial parks in the province are receiving the best tax incentives, as well as receiving financial support to train their workforce within the first two years of receiving the investment license. Owners of industrial parks are entitled to enjoying the lowest rate of land rental fee in the first five years, 30% of advanced payment in compensation fee for site clearance process, and 30% of financial support for the construction of waste water treatment system. At present, Quang Ninh's authorities are speeding up the construction of the Van Don – Mong Cai expressway to reduce the travel time to nearly three hours to China’s border gate, which is set to be completed by end-2021. Meanwhile, other expressways connecting Hanoi, Hai Phong, Quang Ninh, major ports and …
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