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Hanoi (VNA) - Despite the impact of COVID-19, the Hoa Phat Group still recorded a surge in both revenue and profit in 2020, the inter-sectoral conglomerate has said. It earned almost 91.28 trillion VND (3.9 billion USD) in revenue and posted 13.5 trillion VND in after-tax profit last year, up 41 percent and 80 percent, respectively, against 2019. In the fourth quarter alone, its revenue rose 43 percent year-on-year to nearly 26.17 trillion VND, while after-tax profit surged 142 percent to 4.67 trillion VND - a quarterly record. Steel manufacturing was a growth driver, the group said, adding that crude steel output doubled the 2019 figure, to 5.8 million tonnes, including 5.1 million tonnes of steel billet and finished construction steel and nearly 700,000 tonnes of hot rolled steel. In particular, 3.4 million tonnes of finished construction steel were produced, up 22.5 percent against 2019. Hoa Phat’s steel market share in Vietnam currently stands at 32.5 percent. The group … [Read more...] about Hoa Phat Group posts 80 pct. growth in after-tax profit

Thanh Hoa (VNA) - New documents that help in understanding the architecture of the Ho Dynasty Citadel in the north-central province of Thanh Hoa were unearthed during a recent excavation, Director of the Ho Citadel Heritage Conservation Centre Nguyen Ba Linh announced on January 25. For the main palace and the eastern part of the citadel in different historical periods, the artifacts will serve study purposes and restoration projects at the relic site, affirming its major and exceptional value. The large-scale excavation was carried out in two digs located in the central part of the citadel, spanning 8,000 sq m. Four traces of architecture from the Ho Dynasty (1400-1407) were discovered, along with two others dating back to the Le Dynasty spanning the period from the 15th century to the 17th century. Bricks decorated with flower patterns produced in the Ly Dynasty (1009-1226) and the Tran Dynasty (1226-1400) were also discovered, as were some created in the citadel and bearing … [Read more...] about New artifacts unearthed at Ho Dynasty Citadel

As of the end of March, the Nghi Son Economic Zone had 228 domestic projects, valued at 130.08 trillion VND (5.63 billion USD at current exchange rate), and 19 foreign-invested projects worth over 12.6 billion USD. Other industrial parks attracted 335 domestic projects with total registered capital of 18.38 trillion VND and 41 foreign-invested projects with accumulative capital of 703 million USD.  … [Read more...] about Thanh Hoa: a promising investment destination

Kien Giang (VNA) - The first round of the National Billiards and Snooker Tournament 2020 kicked off in Rach Gia city in the Mekong Delta province of Kien Giang on June 11. This is the first time Kien Giang has hosted a national billiards and snooker tournament, which will determine the competitors in international championships this year. A total of 944 players from 26 cities and provinces nationwide will compete in six competitions: three-cushion billiards, cushion carom, six red-ball snooker, English billiards, and nine-ball pool and ten-ball pool during the ten-day event, which will wrap up on June 20./. … [Read more...] about More than 940 players competing in 2020 national billiards, snooker tournament

To improve the fund’s effectiveness, UNDP Resident Representative in Vietnam Caitlin Wiesen stressed the need to have a better understanding of the financial ecosystem for SMEs in Vietnam and a strategic role for a new lending channel to boost existing domestic funding. … [Read more...] about Gov’t urged to develop legal framework for direct lending for SME development