Vendors to establish business credit

Central Retail inks deals with six suppliers in the southeast region at a trade promotion conference between HCM City and its neighbours in Binh Phuoc province on March 17. (Photo courtesy of Central Retail) HCM City (VNS/VNA) - Central Retail Vietnam 's sourcing team has met with businesses and suppliers in the southeast to discuss cooperation opportunities at a trade promotion conference between Ho Chi Minh City and its neighbours in Binh Phuoc province last week. Representatives of the retailer’s fast-moving consumer goods and fresh food divisions apprised their interlocutors about their purchasing processes, documentation, packing, and labelling requirements. The meeting should make it easier for businesses and cooperatives to bring their products into Central Retail’s Go! and Big C supermarket chains , they added. Central Retail struck deals with six suppliers in the southeast region: VINAHE Co., Ltd (roasted cashewnuts), Nham Nhung production establishment … [Read more...] about Central Retail signs agreements with southeastern businesses, cooperatives

Climate change is an urgent problem for humanity in the 21 st century, and its importance was reinforced by the presence of 197 heads of state at the Climate Change Conference in Glasgow in 2021 (COP26). Vietnam has made strong commitments and issued its National Strategy on Climate Change for the period to 2050. Time for business action According to the World Bank, Vietnam is one of the most vulnerable countries to climate change. In 2020 alone, Vietnam has suffered a loss of $10 billion, equivalent to 3.2 per cent of GDP. Without a green transformation strategy, it is estimated that the nation could be losing 12-14 per cent of GDP every year by 2050. Green transformation describes the process of applying advanced processes and technologies to reshape business operations, ensuring economic growth, environmental sustainability, and social development. From an enterprise perspective, a common management solution is through a set of environmental, social and governance … [Read more...] about Net-Zero: Challenges and opportunities for Vietnamese businesses

Farmers in the Central Highlands city of Dalat are complaining about losses as local traders are selling Chinese strawberries under the Dalat brand name. People buy strawberries at a market in HCM City A farmer, Tran Thi Ngoc Chau said that it's strawberry season and Vietnam has two largest strawberry hubs in Dalat and Son La. The country has also imported strawberries from Japan, South Korea, and China. "While Japanese and South Korean strawberries taste better and have higher prices than those grown in Vietnam, Chinese strawberries have lower quality and cheaper prices," Chau said. "Our farm is selling strawberries at prices of between VND100,000-250,000 per kilo depending on their size. However, many traders are selling Chinese strawberries under the name of Dalat strawberries at cheaper prices, which is unfair competition and causing us losses." At Thu Duc Agricultural Products Wholesale Market in HCM City which supplies fruits to retailed … [Read more...] about Traders’ frauds cause losses to Dalat’s strawberry farmers

Asian markets bounced Tuesday from the previous day's rout, with lenders boosted by easing concerns of another financial crisis, while focus turned to the Federal Reserve's policy decision later in the week. The panic that characterised trade over the past 11 days appeared to have faded after authorities in leading economies pledged support for depositors and troubled banks following the collapse of Silicon Valley Bank and Signature Bank in the United States. Still, the takeover of troubled Credit Suisse by UBS for $3.25 billion fanned concerns about what could be next on the chopping block, and analysts warned it was too early to say that the crisis was over. The move to save Credit Suisse aimed to prevent a wider crisis as it is among the 30 global banks considered "too big to fail". All three main indexes on Wall Street ended on the front foot -- with the Dow more than one percent up -- while European markets were also comfortably higher, helped by promises of … [Read more...] about Asian markets rebound as bank fears ease, Fed decision in view

A road under construction (Photo: VNA) Hanoi (VNA) – The Ministry of Planning and Investment (MPI) has been assigned to coordinate with related ministries to devise and propose policies and measures for attracting international financial funds and capital sources to public - private partnership ( PPP ) projects in Vietnam. This is among the tasks set by Deputy Prime Minister Tran Hong Ha with regard to PPP investment activities, according to the Government Office. In particular, the MPI was asked to work with other ministries to review the enforcement of the 2020 law on PPP investment, as well as obstacles to the implementation of the Government’s Decree 35/2021/ND-CP, dated March 29, 2021, that guides the law enforcement. They were ordered to propose revisions, supplements, and international capital attraction measures to the PM in the second quarter of 2023. Meanwhile, Deputy PM Ha assigned the Finance Ministry to coordinate with others to review problems … [Read more...] about Ministries to devise measures for attracting int’l capital to PPP projects

How can 5G and digital transformation impact the performance of industries such as manufacturing, logistics, agriculture and e-commerce over the coming years? Denis Brunetti, president of Ericsson in Vietnam, Myanmar, Cambodia and Laos As a critical digital national infrastructure, 5G has the potential to significantly transform society, industries, and the economy, as well as benefiting the environment. In the past, developing economies depended on traditional inputs to fuel growth, such as low-cost labour and natural resources. Moving forward, the new economy will increasingly depend on more sustainable inputs, such as science, technology and innovation, whereby data will become the new oil that creates as much as drives a more inclusive and sustainable socioeconomic development, securing broader range prosperity for all. Through 5G, the introduction of Industry 4.0 will be accelerated across thousands of factory floors in Vietnam, enabling robots, digital twin … [Read more...] about Going digital and green in partnership with Ericsson

A train of Viet Nam Railways. — Photo courtesy of VNR The railway sector is striving to escape losses and divest capital in many companies in 2023, the Committee for Management of State Capital at Enterprises said about the Project on Restructuring Viet Nam Railways (VNR) from 2021 to 2025. The project has identified and evaluated the achievements and limitations on the basis of a comprehensive assessment. The restructuring of VNR in 2016-2020 includes the production and business performance, the level of safety, security and defence, development and investment, science and technology and digital transformation. It also sets out goals and plans for the restructuring of the corporation in 2021-2025, aiming at innovation, improved corporate governance, effective exploitation of resources, and enhanced labour productivity. Additionally, VNR tries to achieve and exceed the targets assigned by competent authorities, fulfil the obligation to pay the State budget, ensure enough … [Read more...] about Railway sector sets plans to avoid losses this year

Paris (VNA) – The Paris-based Association of Vietnamese Scientists and Experts (AVSE Global) held a round-table discussion on March 18 to review its activities in the recent past and introduce coming projects. Prof. Nguyen Duc Khuong, Chairman of the association, said the AVSE Global , whose predecessor was the Association of Vietnamese Scientists and Experts in France, was established in Paris in 2011 with a view to connecting overseas Vietnamese scientists and experts to capitalise on their potential. With the participation of hundreds of Vietnamese experts and scientists around the world, it has been implementing a number of programmes to support the homeland’s development. Its activities cover five main areas, namely organising annual workshops and forums, mostly in Vietnam, about different development topics; projects giving consultancy to central agencies, localities, and businesses; high-level training programmes; innovation projects; projects on research and … [Read more...] about AVSE Global to contribute more to homeland’s development