China trade growth

Hanoi (VNA) - Vietnam’s footwear sector is now beginning to see positive signs after export revenue for footwear and handbags fell 11 percent year-on-year to 19.5 billion USD in 2020, making it one of the sectors hardest hit by COVID-19. Vietnamese companies have proved their capacity in research and development (R&D) and design, according to Chairman of the Vietnam Leather, Footwear and Handbag Association (LEFASO) Nguyen Duc Thuan. Signs show that Vietnam is further penetrating into the leather-footwear supply chain, he said, as the design and R&D processes rake in high added value for products. The domestic supply of materials for the sector now represents 60 percent. Local businesses can take the initiative in producing soles and moulds, as well as packaging and labelling. This is attributable to their activeness in manufacturing materials locally, Thuan added. In particular, the Gia Dinh Footwear JSC has set up industrial clusters to attract investment in … [Read more...] about Footwear sector further penetrates global supply chain

Hanoi (VNA) - The national finance sector has recorded important developments and made decisive contributions to the country’s achievements, according to member of the Party Central Committee and Minister of Finance Dinh Tien Dung. Addressing a discussion within the framework of the 13th National Party Congress on January 27, Dung said the financial sector has implemented the policy of e-government development towards a digital government and digital economy, and promoted IT application and development. Businesses now basically conduct all tax declarations, tax payments, tax refunds, and customs procedures via digital platforms. The restructuring of the State budget and public debt in the 2016-2020 period helped strengthen national finances while mobilising more resources for COVID-19 prevention and control, supporting the national economy to avoid recession, helping Vietnam become one of the few economies posting positive growth in 2020, and creating an important foundation … [Read more...] about Finance sector contributes decisively to national achievements: Official

It was 7.1 percent higher year-on-year as most industrial park developers in the north maintained strong bargaining power thanks to Vietnam’s potential as one of the most sustainable manufacturing hubs, according to a report by Jones Lang LaSalle (JLL). … [Read more...] about Industrial land rents in north rise to new peak

Singapore (VNA) – Singapore's manufacturing sector was the silver lining of 2020, with the sector posting growth for the full year, according to data released by the Economic Development Board (EDB) on January 26. The sector expanded 14.3 percent year on year last month. Excluding biomedical manufacturing, output grew 19.8 percent. Overall, manufacturing output increased 7.3 percent last year, compared with 2019. The chemicals cluster grew by 12.3 percent year on year last month, with all segments except petroleum recording output growth. But for the whole of last year, the chemicals cluster's output dipped by 1 percent compared with 2019. The precision engineering cluster picked up 11 percent in December, with the machinery and systems segment growing 12.6 percent on the back of higher output of semiconductor equipment and measuring devices. Precision engineering output increased 10.6 percent for the year. General manufacturing output also grew, by 5.9 percent, with … [Read more...] about Singapore: Manufacturing sector silver lining of 2020

Teashop owner Vu Thien Tan in Hanoi began her first short-term teamaking course two years ago and has so far taught over 400 students, most of them born in the 1990s. By setting up a Facebook page, she has been able to reach a niche group of youths who are willing to put down their smartphones for some cultural experiences. … [Read more...] about Traditional tea losing flavor for young Vietnamese