Business europe vietnam

Illustrative image (Source: VNA) Hanoi (VNA) – Samsung Electronics ’ plan to manufacture semiconductor products in Vietnam has sparked the hope that the Southeast Asian nation will be a new stop for the semiconductor industry . During his recent trip to Vietnam, CEO Roh Tae-Moon unveiled that Samsung will make an additional investment of 3.3 billion USD in the country this year, enabling the Korean technology giant to start producing semiconductor components in Vietnam by July 2023. In fact, part of the investment commitment has been materialised, with 841 million USD for Samsung Complex HCMC-SEHC in Ho Chi Minh City and 1.18 billion USD for Samsung Electro-Mechanics in the northern province of Thai Nguyen. Since 2019, the tech giant has announced that it will raise investment in the semiconductor industry to a whopping 151 billion USD. When Vice Chairman Lee Jae-yong visited Vietnam in 2020, host leaders expressed their wish that Samsung will invest in the … [Read more...] about Vietnam – new stop for semiconductor producers

Illustrative image (Photo: VNA) Hanoi (VNA) - Post-pandemic robust rebound in the American market has ushered in multiple opportunities for Vietnam to expand its export of key products, according to the Ministry of Industry and Trade. Vietnam in America such as Canada and Mexico have also increased imports from the Southeast Asian nation. According to the MoIT, handsets, computers, and electronic items hold the largest proportion in Vietnam’s export structure to the American market, reaching 43.3%; followed by textile, apparel, and footwear products with 25%; wood and wooden items with 8%; and agricultural and agro-aquatic product s with 4%. VNA … [Read more...] about Vietnam’s export to American market sees sharp rebound

Swift247, a subsidiary of low-cost airline Vietjet Air, has launched an international super-fast delivery service which will operate between the Republic of Korea (RoK) and Vietnam based on digital technology platforms. Swift247 service point in Ho Chi Minh City (Photo: Swift247 ) The debut of the express delivery service took place as part of ongoing co-operation programmes between Vietjet Aviation Joint Stock Company and numerous freight companies in the RoK, including Daejoo Air and Ilyang Logis. Through this service, customers will easily deliver goods from the RoK to Vietnam through the Swift247 application which boasts a modern and user-friendly application interface. In addition, the application is integrated with order tracking, enabling users to track the delivery of the parcels in a clear and coherent manner. Most notably, customers will be able to place orders via the app and utilise Vietjet Air's flight network in order to help shorten … [Read more...] about Swift247 launches super-fast delivery service between RoK and Vietnam

The head of the European Space Agency (ESA) has warned economic damage from heatwaves and drought could dwarf Europe's energy crisis as he called for urgent action to tackle climate change. Director General Josef Aschbacher told Reuters successive heatwaves along with wildfires, shrinking rivers and rising land temperatures as measured from space left no doubt about the toll on agriculture and other industries from climate change. "Today, we are very concerned about the energy crisis, and rightly so. But this crisis is very small compared to the impact of climate change, which is of a much bigger magnitude and really has to be tackled extremely fast," he said. He was speaking in an interview as heatwaves and floods generate concerns over extreme weather across the globe. More than 57,200 hectares have been swallowed by wildfire in France this year, nearly six times the full-year average. In Spain, a prolonged dry spell made July the hottest month since at least 1961. … [Read more...] about Climate risks dwarf Europe’s energy crisis, space chief warns

Vietnam says that its trade relations with the US have coincided with the World Trade Organization's regulations. Vietnam stands ready to discuss with the US to address issues emerging in trade, Spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang said today. Vietnam has always worked with the US through existing mechanisms, including Trade and Investment Framework Agreements (TIFAs), to boost trade and investment for the sake of businesses and people of both sides, Hang shared the view at the press conference on August 11. Warehouse storage of steel products in Vietnam. Photo: VNA On August 8, the US Department of Commerce (DOC) issued an official notice on the initiation of an investigation into trade remedy evasion with respect to a number of steel pipe products imported from Vietnam. According to ASL law firm , Large US steel pipe producers asked the US to launch an investigation after learning that Vietnam was importing Hot Rolled Steel … [Read more...] about Vietnam willing to work with US on emerging issues: Spokeswoman

Foreign tourists visit the Independence Palace in HCM City on August 8. (Photo: VNA) HCM City (VNS/VNA) - Strict visa policies and a shortage of human resources and infrastructure in the tourism sector have stymied recovery of the travel industry, and the target of five million international arrivals this year could be out of reach, industry players have warned. Domestic travel has seen a strong rebound whereas international tourism, with a target of five million arrivals this year, remains in a slump, said Vu The Binh, Chairman of the Vietnam Tourism Association. Domestic visitor numbers topped 71.1 million in just the first seven months of this year against a full-year target of 60 million, he said. In the same period there were only 733,000 international visitors, or 8% of pre-pandemic numbers, he told a two-day programme titled ‘Lien Ket Suc Manh Du Lich Vietnam Nam 2022’ (Power of Vietnam Tourism Linkages) that ended in Ho Chi Minh City on August 9. Though … [Read more...] about Vietnam mulls ways to boost inbound travel