The latest textile technologies and products are on show at the ongoing Vietnam Hanoi Textile & Garment Industry Expo (HanoiTex) 2018, which opened at the Hanoi International Centre for Exhibition, No. 91 Tran Hung Dao street on September 19. VITAS President Vu Duc Giang speaking at the exhibition opening - Photo: NDO The event, which is hosted by the Vietnam National Textile & Garment Group in collaboration with Vietnam National Trade Fair & Advertising JSC and China’s CP Exhibition Hong Kong, attracts more than 118 enterprises from 12 countries and territories to display their products in an area of 4,600 m2. The exhibition introduces textile products, such as micro-fiber fabrics, yarn, silk and materials using bamboo fiber, non-woven fabrics and cotton, as well as featuring modern equipment, machinery, automatic technologies and other auxiliary materials. Deputy Minister of Industry and Trade Cao Quoc Hung and VITAS President Vu Duc Giang visit … [Read more...] about Hanoi hosts international textile industry exhibition
INDUSTRY
Vietnam top 53 IT firms see revenue of US$16 billion in 2017
The Hanoitimes - Most of the IT firms on the list focus not only on business performances, but also on investing in new technologies and taking part on digital transformation. Vietnam's 53 leading IT companies in 2018 have total revenue of VND374.43 trillion (US$16.06 billion) and employ nearly 93,000, according to Vietnam Software and IT Services Association (VINASA), which compiled the list. Illustrative photo. These companies have been maintaining high annual growth rate in recent years, and are considered to have major impact on the development trend of the Vietnam IT market. They include military-run Viettel Group, FPT, MISA, CMC, and VNG, among others, local media reported. Mai Liem Truc, former deputy minister of Information and Communications, said that there have been breakthroughs in many applications developed on the platform of the Fourth Industrial Revolution by local enterprises. Truc anticipated that there will be more Vietnamese IT joining the … [Read more...] about Vietnam top 53 IT firms see revenue of US$16 billion in 2017
“Vietnam’s auto industry can skip on normal evolution”
The Hanoitimes - The statement was made by Yutana Sanada, Regional Senior Vice-President of Nissan Motor, along side the World Economic Forum on ASEAN in Hanoi. Yutana Sanada, Regional Senior Vice-President; Head, Operations Committee, Asia and Oceania, Nissan Motor Co., Japan The gap between Vietnam and other countries that have developed auto industry like Japan is very big. Will the Fourth Industrial Revolution help Vietnam shorten that gap? Sure, it obviously will happen. Even though GDP per capital or other KPIs are still a bit gap to the acceleration of motorization, but with the industry growth of 6-7% average annually of this country, I’m sure Vietnam will reach this level soon. Also, with some other technologies and types of connectivity, I think Vietnamese customers are the key. They have access to the mobiles. So, for these types of things, maybe Vietnam can skip on normal evolution. So I have full confidence about Vietnam’s growth. How will the Fourth … [Read more...] about “Vietnam’s auto industry can skip on normal evolution”
Vietnam among 18 outperforming emerging economies
The Hanoitimes - Emerging economies have accounted for almost two-thirds of the world’s GDP growth and more than half of new consumption over the past 15 years yet, as individual countries, their economic performance varies substantially. Vietnam has been classified among the best performing emerging economies, according to a new McKinsey Global Institute (MGI) report. The report, titled "Outperformers: High-growth emerging economies and the companies that propel them", identifies the emerging economies which have achieved a track record of stronger and more consistent growth than their peers and examines key factors determining their outperformance. The press conference's overview. Photo: Minh Tuan Of the 71 major emerging economies the report analyzes, 18 economies - about one in four - are classified as “outperformers”. Among those, seven achieved more than 3.5% per capita GDP growth over 50 years, between 1965 and 2016. They are China, Hong Kong, Indonesia, … [Read more...] about Vietnam among 18 outperforming emerging economies
GIZ applauds Vietnam’s higher FIT for wind power
The Hanoitimes - Vietnam is aiming to produce 10.7% of its total electricity through renewable energy by 2030, mainly through solar and wind energy, up from the 6% as previously planned. Germany’s development agency GIZ has praised the Vietnamese government’s decision to increase the feed-in tariff (FIT) for wind power as the country seeks to tap its huge renewable energy potential to accommodate economic growth. Illustrative photo. Source: GIZ On September 10, Prime Minister Nguyen Xuan Phuc approved the amendment and revision of the wind tariff defined as per Decision No. 37/2011/QD-TTg on the support mechanism for the development of wind power projects in Viet Nam. Under the revision, the FIT will be increased from 7.8 to 8.5 US cents/kWh for onshore and 9.8 US cents/kWh for offshore wind power projects. GIZ said it and the Ministry of Industry and Trade (MoIT) worked within the Vietnamese-German bilateral cooperation to develop the wind power sector, including … [Read more...] about GIZ applauds Vietnam’s higher FIT for wind power