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In Q1, Thai Nguyen Iron And Steel JSC (TIS) witnessed its profit down by 35 per cent, to only VND29.2 billion. — VNA/VNS Photo The cost of raw materials and transportation fees have skyrocketed, causing the first-quarter profits of most steel companies to decline. Data from the Viet Nam Steel Association (VSA) showed that in the first quarter of this year, finished steel consumption reached 8.137 million tonnes, up 11.9 per cent over the same period in 2021. Of the estimate, steel exports reached about 2.275 million tonnes, with export value reaching US$2.3 billion, decreasing by 22.15 per cent in volume but up by 12.53 per cent in value over the same period last year. However, the business performance of many enterprises in the industry did not move in the same direction. The first-quarter business results report of Viet Nam Steel Corporation (TVN) showed a sharp decline in profit at member units, especially in the construction steel and galvanised steel segments. In the … [Read more...] about Steel companies report decline in Q1 profits

Launched on May 10, the Frasers Vietnam M&A Guide provides the most comprehensive and up-to-date M&A guide in Vietnam. “It is arguably the most scintillating read of 2022 for people interested in M&A transactions in Vietnam and focuses on key regulatory considerations that need to be considered when undertaking a successful M&A deal in Vietnam,” the law firm's statement said. The second edition of the Frasers Vietnam Mergers & Acquisitions Guide launched this May M&A hit new highs in 2021, breaking all previous records despite the impact of the pandemic. As a result, Vietnam enjoys a vibrant and ever-expanding M&A market. “Opportunities for investors in the M&A market are increasingly available, across the full spectrum of industry sectors. The government continues to foster a vibrant M&A market in Vietnam, enhancing meaningful and effective legal, regulatory, administrative, and bureaucratic reforms, for the benefit of both … [Read more...] about Frasers Law Company launches second edition of M&A Guide

Germany-invested Framas Group has rented a 20,000-square-metre ready-built factory in KTG Industrial Nhon Trach 2, in the southern province of Dong Nai. Framas Group specialises in manufacturing high-quality plastic parts with customers including Nike and Adidas. Fabian Urban, director of footwear technology at Framas Vietnam, said that the reason for choosing Vietnam to open a factory is that the facilities are superior to other locations. “The establishment of this new factory is part of the group’s wider strategy to develop the footwear sector in the Vietnamese market,” said Urban. Meanwhile, Danish jewellery brand Pandora on May 12 signed an MoU to build a new jewellery crafting facility in Vietnam-Singapore Industrial Park III (VSIP) in the southern province of Binh Duong, 40km north of Ho Chi Minh City. According to Jeerasage Puranasamriddhi, chief supply officer at Pandora Production Co., Ltd., the new factory will be the company’s third manufacturing site and its first … [Read more...] about Key localities stepping up industrial real estate moves

Blockchain or crypto is not a new term in the global aspect of investing. Recently, however, these terms are gaining wider coverage with the return of a new trend in the GameFi market – Move to Earn. Following the popular play-to-earn model that most Metaverse and NFT coins adopted, move-to-earn is the new trend in crypto. Move-to-Earn (M2E) apps allow users to earn passive income while engaged in routine physical activities such as walking, running, dancing, or simply moving around. Grasping the development of this trend, EMOVES was born. For EMOVES, users will earn in-game currency which can be used in-game or cashed out for profit. EMOVES aims to drive millions towards a healthier lifestyle "Burn calories, Earn money" with the following benefits More health, more benefits, more happiness, more friends Running greatly stimulates your heart rate and helps you burn calories especially effectively, the more calories burned, the better your health will be. Especially … [Read more...] about EMOVES – Burn to earn

ABB Electrification Innovation Day featured solutions that help customers embrace the power of digitalization to improve energy consumption, optimize performance and operation, and contribute to a lower carbon future. The event attracted about 200 leaders from consulting, EPC, real estate, and industrial companies. Digital solutions enable customers to efficiently maintain and manage a charging network Vietnam is considered one of the most dynamic and stable countries in Southeast Asia. The increasing population, a rising appetite for goods and services, rapid urbanization, and growing economic activities in industrial and service sectors are exerting increased pressure on energy supplies in Vietnam. Its electricity demand is forecast to increase at a high rate over the coming years with 8.5 percent per year for the 2021-2030 period. Meanwhile, the rising cost of energy is one of the biggest challenges facing businesses today. Therefore, availability of adequate and … [Read more...] about ABB Electrification Innovation Day highlights the keys to a sustainable Vietnam

A candidate is interviewed by a recruiting panel. (Photo courtesy of CCIFV) Hanoi (VNA) - The seventh France -Vietnam Job Fair (FVJF) has been held in Hanoi, serving as a bridge connecting Vietnamese, French and international companies based in Vietnam to graduates with international profiles. The fair will move to HCM City in the next few days. FVJF is an annual event that CCIFV has organised for over 10 years. It is an opportunity for international companies to promote activities in the local market and showcase their recruitment offers to qualified candidates in Hanoi and HCM City. About 40 big names participated in the sixth job fair in 2019, offering nearly 500 jobs. Due to the pandemic it was postponed in the two following years and was rebooted in 2022, thanks to the country's reopening. "Vietnam’s population is young, educated, and eager to succeed. These highly appealing demographics are attractive to a growing number of international companies … [Read more...] about France-Vietnam job fair held in Hanoi, HCM City