China

Vietnam Rubber Group (VRG) is completing its restructuring scheme for 2021-2025 to submit to the Committee for Management of State Capital at Enterprises. One of the highlights is that industrial real estate will be one of three core business sectors, and the company will foster divestment from the rubber sector to mobilise resources for the industrial real estate sector. Developers eager to cultivate funding in industrial real estate - illustration photo VRG general director Le Thanh Hung said that by 2025, the group’s revenue is expected to increase by 30 per cent, and profit will increase by 25 per cent. The group’s consolidated revenue is expected to climb to VND161 trillion ($7 billion), and consolidated pre-tax profit will be $1.49 billion. The after-tax profit of the parent company will be $536.9 million. “To achieve the above goals, the group will apply for a license to convert part of the rubber area to land for industrial production, contributing to improving … [Read more...] about Developers eager to cultivate funding in industrial real estate

Earth Overshoot Day is a concept that marks the date when humanity has used all the biological resources that the Earth regenerates during the entire year. This year, Earth Overshoot Day fell on July 28, which means on this day, we had used all of the world’s natural resources budget for 2022. Tim Evans, CEO of HSBC Vietnam The date is coming earlier and earlier each year. In 1970, we overshot this threshold two days before the year’s end. This year, we overshot the threshold by 156 days. The truth is we consume a lot and waste a lot. Think about the resources you consumed in the past week: the clothes you bought, the food you ate, the distance you travelled. Think about everything you threw away: single-use plastic items like bags, bottles, coffee cups, straws, boxes, and more. Along with this, the extraction, processing, and manufacture of goods for society account for a staggering 62 per cent of total global greenhouse gas emissions. Excess emissions are released … [Read more...] about From waste to wealth: circular economic prospects

Late last month, FPT Semiconductor officially launched the first line of integrated circuit (IC) chips used in Internet of Things (IoT) products for the medical field. The ICs, which are designed in Vietnam and manufactured in South Korea, will be delivered to customers and current strategic partners in Australia, Taiwan, and China. Next year, FPT Semiconductor plans to supply 25 million chips globally in seven types to meet diverse needs in telecommunications, IoT, automotive technology, energy, electronics, and others. Vietnam picking up slack as hub for chips - illustration photo The chipmaker intends to deploy and supply Vietnamese chips to domestic corporations to develop sustainably and contribute to completing the supply chain of manufacturing equipment for users in Vietnam between 2023 and 2025. According to a Technavio report, Vietnam’s semiconductor industry is estimated to exceed $6.16 billion by 2024. According to US-based technological research and … [Read more...] about Vietnam picking up slack as hub for chips

The General Statistics Office (GSO) last week reported that after growing 5.03 per cent in Q1 2022, the Vietnamese economy bounced back to 7.72 per cent in Q2, and 13.67 per cent in Q3. Vietnam impressing with GDP growth - illustration photo In the first nine months of this year, it grew 8.83 per cent against the 1.42 per cent in the same period last year and only 2.12 per cent in that of 2020, representing the biggest 5-month increase in a decade. The agro-forestry-fishery expanded 2.99 per cent on-year, while the rates of the industry and construction sector and the service sector were 9.44 and 10.57 per cent, respectively. “The 9-month economic situation has flourished in almost all sectors. The economy’s production and business activities in Q3 have strongly grown on-year,” said GSO general director Nguyen Thi Huong. “Many sectors have bounced back strongly, especially industrial production, making it more favourable for the economy to reach the desired growth … [Read more...] about Vietnam impressing with GDP growth

Wood pellets (Source: baodautu.vn) Hanoi (VNA) - Wood pellets, made from compressed sawdust and forestry wastes, have become a key currency earner of the wood industry, having the great potential to rank in the group of export staples with turnover of over 1 billion USD. Vietnam’s wood pellet export value was just about 145 million USD in 2017 and surged to 413 million USD in 2021. Close to 2.4 million tonnes of the product were shipped overseas in the first half of 2022 for approximately 354 million USD. If the growth is maintained at the current rate, the export turnover may hit around 700 million USD for the entire year. In particular, the product’s export price increased sharply between January and June to an average of nearly 150 USD per tonne, more than 27% higher than the average price in 2021. The use of by-products to make the pellets helps wood factories raise incomes, offsetting the high price of imported raw materials. Currently, Vietnam houses about 300 … [Read more...] about Exports of forestry waste products likely to rake in billions of USD

The handover was carried out under the decision of the provincial People’s Committee. The eight foreign fishermen include Soe San Naing (1991), Shwe Soe (1993), Wai Yan (1998), Thein Tun Htay (1998), Myo Nyi Nyi (1997), Poe La Pyae (1994), Ko Soe (1993), and Al Soe (1987). All of them are Myanmar citizens. Earlier on August 26, the Border Post of Ba Ria - Vung Tay Port Border Gate was reported that while en route from China to Indonesia, Panama’s Vessel TRUMP SW spotted eight drifting people at sea. Immediately, the vessel’s crew-members rescued and gave first aid to them before reporting the case to its agent, Indochina Shipping and Forwarding Ltd. Company. The ship then approached Vung Tau port and handed over the distressed to the Ba Ria - Vung Tau provincial Border Guard Command. On August 29, the Border Post of Ba Ria - Vung Tau Port Border Gate provided health check-up to the distressed, completed all procedures to receive the foreigners, and accommodated them. At present, … [Read more...] about Ba Ria – Vung Tau hands over rescued fishermen to Myanmar