Why expand your business

Many delegates discuss solutions to reduce congestion at Cat Lai Port in HCMC. (Photo: SGGP) The workshop attracted more than 70 delegates from customs authorities, ministries, and the business community to discuss this action plan. At the workshop, the relevant units announced 21 recommendations to improve the operational efficiency of Cat Lai Port to meet the increasing demand. Before the Covid-19 pandemic, the port was operating at full capacity. Meanwhile, the demand calculated by the number of containers is forecast to double by 2030. The above 21 recommendations are the results of a pre-feasibility study on congestion prevention and logistics facilitation at Cat Lai Port conducted by the Trade Facilitation Project funded by the USAID from May 2020 to March 2021. The study comprehensively reviewed port operations on an area of 160 hectares to assess operational efficiency, bottlenecks, and shortcomings in the process of enhancing the handling capacity of the port. On … [Read more...] about HCMC cooperates with USAID to ease container congestion at Cat Lai Port

At the conference (Photo: SGGP) The Center for linking production, processing, and consumption of agricultural products in Can Tho City was established with the expectation that by 2050, it will become the central transport node in large metropolitan areas with smart technology. The center will be the focal point of the chain of smart production, processing, and consumption centers in the region. In this link chain, about 50 percent - 70 percent of the production processes are done automatically and intelligently. Speaking at the conference, Chairman of the Can City People's Committee Tran Viet Truong said this is an important conference to get opinions from ministries, sectors, and localities in the region, step by step perfecting the project in the most feasible direction before submitting it to the Government. The Center aims to contribute to the construction of Can Tho City into the central city of the Mekong Delta region, contributing to the development of the region’s … [Read more...] about Center hoped to help link, consume agricultural products in Mekong Delta

Gold is yet again becoming a safe haven asset, and some customers want more ways to get involved, Le Toan The World Gold Council (WGC) believes that the appetite for gold is often hampered by the interest rate, as when interest rates rise, gold loses its appeal. However, inflation is also a tailwind to gold demand as a common safe-haven asset. The USD tends to weaken when the Fed raises interest rates, which enhances gold’s demand. “Furthermore, what happens in China’s consumer market has had a big impact as it’s the world’s largest consumer market for gold. We expect China to start to emerge from the worst of the pandemic and that will support consumer demand,” the WGC noted last week. “It is difficult to predict how the geopolitical situation will play out. It depends on where inflation goes, but inflation is certainly the biggest driver at the moment, which will probably support institutional investment demand in the next quarter.” Meanwhile, the demand for gold in Vietnam … [Read more...] about Gold appeal sparkles amid rise of inflation

Lenders reinforcing presence with bond issuance, Photo Shinhan Bank Vietnam Shinhan Bank Vietnam last week successfully issued bonds totalling VND2.8 trillion ($121.7 million), with a tenor of two years. CEO Kang Gew Won explained to VIR, “This is the first time that Shinhan Bank Vietnam has issued bonds in the Vietnamese market. This offering reinforces Shinhan Bank’s long-standing relationship with Vietnam. Our bank will use these proceeds from the bond sale to expand the bank’s credit activities, diversify its capital sources, serve its business objectives, and also ensure the bank’s long-term development.” On April 20, Shinhan Bank Vietnam also formally announced the use of the liquidity reserve ratio and net stable capital ratio in liquidity risk management, in accordance with Basel III standards. In recent times, the bank has been continuously assigned a BB rating by Standard & Poor’s, with a “Positive” outlook. Prior to Shinhan Bank, HSBC Vietnam became the … [Read more...] about Lenders reinforcing presence with bond issuance

Vietnam achieved decent growth in the first quarter despite global geopolitical instability. The socioeconomic statistics report for the first quarter of 2022 of the General Statistics Office published on March 29 stated that GDP in the first quarter was estimated to increase by 5.03 per cent over the same period last year. A day before the report, Fitch Ratings forecast that Vietnam’s growth would recover to 6.1 per cent in 2022 and 6.3 per cent in 2023 thanks to increased domestic consumption, exports, and investment inflows. For the nation’s economic progress, the Power Development Plan VIII (PDP8) is the basis to guarantee the stability of Vietnam’s power source system. According to the Ministry of Industry and Trade (MoIT), by the end of 2021, the total installed capacity of renewable energy sources reach around 20,670MW, accounting for 27 per cent of the total installed capacity of the whole system (76,620MW). Finding the spark to ignite energy goals, illustration … [Read more...] about Finding the spark to ignite energy goals

President of the Ho Chi Minh National Academy of Politics (HCMA) Prof. Dr. Nguyen Xuan Thang meets State Secretary at the German Federal Ministry for Economic Affairs and Climate Action Patrick Graichen. (Photo: VNA) Berlin (VNA) – President of the Ho Chi Minh National Academy of Politics (HCMA) Prof. Dr. Nguyen Xuan Thang has been busy on his visit to Germany from May 14 – 19, with renewable energy and climate action high on his working agenda. Thang co-chaired the seventh theory dialogue between the Communist Party of Vietnam (CPV) and the Social Democratic Party of Germany (SDP), during which the two parties exchanged views on a number of both theoretical and practical matters. Discussions have placed an emphasis on Vietnam’s energy transition strategy to ensure national energy security and fulfil international commitments; developing green agriculture in Vietnam in the era of the Fourth Industrial Revolution; green growth and climate resilient models in some … [Read more...] about Renewable energy, climate action prioritised in Party official’s visit to Germany

Vegetarian food Smiling Mushroom's customers are urban, high-income consumers, 85 percent of them women. The company has launched distinctive products, such as plant-based meat and food made from mushroom protein, targeting 20-55 vegetarians and dieters concerned about their health and the environment. Emmay’s distribution strategy is both B2B and B2C, via both online and offline channels. So far, the company has established 230 retail points, seven distributors and compiled 800 end-consumers data. A product of the Emmay and Colleagues JSC Its products are currently distributed at big supermarkets, such as Aeon Mall, Saigon Coop or BigC, and at about 200 clean food outlets. Eighty percent of the company’s revenue is derived from wholesale distributors and supermarkets. According to Smiling Mushroom CEO, the brand is still in the early stages of food substitutes for animal meat, making it 50 to 70 percent more expensive than animal meat. For example, a 200-gram bag … [Read more...] about Startup sales mushroom as they adapt to ensure survival

The United States Agency for International Development (USAID) and the General Department of Vietnam Customs (GDVC) on Thursday released an action plan for reducing congestion at Cat Lai Terminal, Vietnam’s busiest container operation in Ho Chi Minh City. Containers at Cat Lai Port The action plan, unveiled at a workshop co-organized by USAID and GDVC, contains 21 recommendations to help position the port to meet increasing demand. Before COVID-19, the port was operating at full capacity, with demand as measured by container volume expected to double by 2030. The workshop brought together more than 70 representatives from Vietnam Customs, ministries, and the business community to discuss the action plan—the result of a Pre-Feasibility Study on Anti-Congestion and Facilitating Trade Logistics at Cat Lai Port conducted by the USAID Trade Facilitation Program between May 2020 and March 2021. The study takes a comprehensive look at the 160-hectare port’s … [Read more...] about USAID supports efforts to reduce congestion at Cat Lai Port

Chairman of the National Assembly Vuong Dinh Hue (R) and Michael Arthur, Senior Vice President of Boeing and President of Boeing International(Photo: VNA) Hanoi (VNA) – Chairman of the National Assembly (NA) Vuong Dinh Hue received Michael Arthur , Senior Vice President of Boeing and President of Boeing International, in Hanoi on May 19. Lauding the aviation group’s activities in Vietnam and sharing its COVID-19-induced difficulties, Hue expressed his belief in Boeing’s post-pandemic recovery, particularly in Southeast Asia and Vietnam. Vietnam always aims to create the best conditions possible for foreign investors, he stated, telling his guest about the country’s implementation of a monetary and fiscal support package that will last until 2023 and other incentives for enterprises. Hue welcomed a cooperation pact signed between Boeing and the Vietnamese low budget carrier Vietjet Air on restructuring and further implementation of a commercial contract to buy 200 … [Read more...] about Top legislator hosts Boeing vice president