Vietnamese businesses look to further optimise opportunities from CPTPP After two years of implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the use of the deal to generate benefits for the economy and businesses has remained modest, according to insiders. Among 14 free trade agreements (FTAs) Vietnam has signed, the CPTPP is a new generation FTA with high standards and the highest level of facilitation. Vietnam has been forecast to be one of the members that benefits the most from the deal. However, the country has experienced challenges in optimising the FTA because of its modest level of development and competitiveness. Due to US-China trade tensions and the impact of COVID-19, the global economy fell into crisis last year with interrupted supply chains. Vietnam also suffered an economic downturn. Therefore, after two years of implementation, the benefits from the CPTPP are still to be seen. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), said that positive results in the two years of implementation include the reform of institutions and administrative procedures. Explaining the modest benefits so far, Loc said major reasons include the poor competitiveness of Vietnamese enterprises, market instability, and the low capacity of State agencies. Meanwhile, Nguyen Cam Trang, Vice Director of the Import-Export Department at the Ministry of Industry and Trade, said the CPTPP has helped promote Vietnam’s exports. However, its market share and export growth to the six partners that have implemented the CPTPP have been low. She noted that Vietnam’s market share is 3.1 percent in Japan, 1.9 percent in Australia, 1.6 percent in New Zealand, 1.3 percent in Mexico, 1.1 percent in Canada, and 1 percent in Singapore. Growth in exports to CPTPP markets was 12.2 percent in 2018, 13 percent in 2019, and 12.02 percent in 2020, Trang added. She said that, in the future, …
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Vietnam proves it can treat medical waste and global tech leaders
Vietnam’s medical waste autoclave system Effectively replacing traditional technology According to Tong Viet Dung, Deputy Director of the Environmental Equipment and Material Joint Stock Company (Urenco 13), the company handles about five tonnes of medical waste per day. Previously, it used traditional combustion technology that generates hazardous emissions. Since 2016, the unit has received US-made medical waste autoclave technology from an international donor organization, which uses saturated steam at high temperatures to eliminate bacteria and harmful pathogens. However, the cost of foreign technology, its maintenance and replacement parts was too high for many users. Two years ago, Urenco 13 met engineer Nguyen Van Binh and cooperated with NARIME on the research, design, manufacture and application of medical waste treatment using wet heat, with capacity of 4,000 to 4,500 kg of waste a day. Urenco 13 mastered the technology of the American system and adapted it to fit Vietnam’s environmental conditions, Dung emphasized. Equivalent quality to US products The system is made up of a 9,000-liter autoclave, a 480-liter boiler and a system control cabinet. Medical waste is first transferred to sterilization in the autoclave, where high temperature saturated steam helps eliminate all germs, bacteria, pathogens in the waste. This process does not cause odors and does not generate dioxins and furans, unlike conventional burning methods. The whole process is operated automatically. Once the sterilization ends, the waste is cooled and crushed to a size of about 2-3 cm. The finished product after treatment is sterile waste, not harmful to the environment. When buried, the product does not take up much space and does not affect the soil and water environment, Binh emphasized. After being installed and tested at Urenco 13 (in Hanoi’s Nam Tu Liem District) since November 2020, the results show that the new system has been operating …
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PNJ targets higher revenue and profit this year
According to PNJ chairwoman Cao Thi Ngoc Dung, these targets mean a 20 and 15 per cent increase in revenue and net profit against last year. At its annual general meeting of shareholders on April 17 in Ho Chi Minh City, Dung said that 2020 was a remarkable year for PNJ with stronger business recovery after a long time of being suppressed by COVID-19. “While many companies are forced to reduce their business, PNJ is on a path of steady development and growth,” Dung said. PNJ targets higher revenue and expanded to the international market this year The digital transformation in manufacturing and marketing and promotion activities has helped PNJ maintain stable growth. Dung said that many investors had shown doubts about PNJ's targets, but the company’s management board confirmed that business prospects this year are much brighter as the pandemic is easing up and the economy has been recovered step by step. “We have been carefully preparing for the next step of development in the next two years, then we do believe that we can reach that target,” Dung said. In order to cope with the market turmoil, PNJ has actively restructured its retail outlets. In 2020, the company opened 29 new outlets but closed 36 ones in order to have better rental and locations. This year, PNJ plans to open 40-45 new outlets and invest more in production technologies and product design. “When global logistics broke down, we have refreshed our entire network. When the first social distancing order from the government was sounded, we have right away implemented online and digital marketing and promotion. These timely reactions have helped maintain our business." At the meeting, shareholders also approved plans for 2021, including a private placement of 15 million shares - equivalent to 6.6 per cent of its outstanding shares, to raise its charter capital from VND2.276 trillion ($98.96 million) to VND2.426 trillion ($105.5 million) . The funds raised will be used to …
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