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Vietnam’s advantages in the evolving international supply chain

February 15, 2021 by e.vnexpress.net

“Vietnam is rapidly emerging as one of the world’s new manufacturing hubs as multinationals are diversifying their production to build greater resilience in their supply chains following severe production disruptions during the Covid-19 pandemic,” said Rajiv Biswas, Asia-Pacific chief economist at IHS Markit, a world’s leading company providing analytics for major industries and markets.

In a note titled “Economic Preview- November 2020,” he said after a decline in the first nine months of last year, Vietnam’s exports of phones and components rebounded to achieve growth in the final quarter.

Phones and components fetched the biggest value among Vietnam’s exports last year, at $50.9 billion, or 18.1 percent of the country’s export turnover, according to the General Statistics Office.

Biswas said exports of computers and related products rose by an estimated 20 percent in the third quarter as a global shift to remote working boosted demand.

Vietnam significantly increased its share of global exports of computers in the past five years, and is now competing with China in terms of total exports.

A Intels facility in Saigon Hi-Tech Park, HCMC. Photo by Intel Corporation.

An Intel’s facility in Saigon Hi-Tech Park, HCMC. Photo by Intel Corporation.

According to Biswas, a key factor driving supply chain diversification is the massive disruption to industrial production in China during the Covid lockdown in early 2020.

This created supply chain vulnerabilities for many multinationals due to excessive reliance on manufacturing in China.

Other factors to seek diversification include the U.S.-China trade war. With the U.S. imposing punitive tariffs on imports from China, multinationals are looking for alternative manufacturing locations for exports to the U.S.

Vishrut Rana, an economist at S&P Global Ratings focusing on the Asia-Pacific region, said in 2020 Vietnam became a key part of the electronic supply chain in this part of the world.

It means there is continued interest from companies across Asia in particular to move to Vietnam or expand existing operations in the country after it had a strong 2020 in terms of FDI, he said.

He explained that though last year was poor for the global economy, it was good for electronics, helped by work from home measures and people buying new accessories.

Competitive advantages

Biswas said Vietnam has been one of the biggest beneficiaries so far of the supply chain diversification thanks to its relatively low manufacturing wages compared to China, a skilled and well educated workforce and good infrastructure following massive investment over the past decade.

Another important competitive advantage for Vietnam is its plethora of bilateral and regional free trade agreements.

The new EU-Vietnam FTA has for instance provided a big fillip to Vietnam’s competitive advantage as a global manufacturing hub.

Vietnam is also a member of ASEAN and a part of two major regional free trade agreements, the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Rana said, “Vietnam is in a good position as it has been open for FDI, and FDI regulations have been favorable.”

Dr Seckin Ozkul, director of the supply chain innovation lab at the University of South Florida in the U.S., said Vietnam has around 10 deepwater ports and a well-trained labor force in the textile and many other industries.

Vietnam has proved that it could produce goods and ship and deliver them, he said.

Rana said the country plays an increasingly important role in global supply chains, particularly in technology, but could easily expand into other areas of manufacturing.

Many major global firms already have operations in Vietnam or are actively considering investing in the country, he said, citing the examples of Samsung 10 years ago and firms from Japan and Taiwan more recently.

This provides confidence to firms considering moving to the country and serves as reference points for them, he said.

As more and more firms move to or expand in Vietnam, the local supply chain grows and firms get access to shared labor markets and better procurement options and suppliers, he said.

In short, as more and more firms build up their capacity in Vietnam, people get this critical mass that attracts even more investment, he said.

“So it’s like a virtuous cycle which is quite helpful.”

Vietnam could compete with China as a key supplier of some niche technology products because the electronic supply chain is very fragmented with a lot of small products requiring specific expertise, he said.

For example, Singapore has very specific memory microchips, while Vietnam has a big advantage in phone components in which Samsung invested several years ago, he pointed out.

Vietnam and other emerging technology players can aspire for a larger slice of the overall technology manufacturing pie. For instance, South Korea and Japan began automobile production on a small scale but managed to grow into dominant players.

From 2020 experience, the U.S. and China have emerged as big buyers for technology and related products. Europe is another critical market for Vietnam. Rana said these markets will remain Vietnam’s buyers this year.

Southeast Asia too offers good opportunities for Vietnam to widen market size since intra-ASEAN trade is becoming increasingly freer.

Electronics and infrastructure networks in ASEAN are very strong, with Singapore, Malaysia, and Thailand key technology manufacturers in the supply chain, so Vietnam can leverage that to develop its market.

Ozkul said many companies are still thinking about how to diversify their supply chains after getting hit by Covid-19 and potential uncertainty in the U.S. and China relationship. There have been some tensions between the two powers and they may impact companies planning to go to Asia. They may consider going to Vietnam rather than to China because they don’t know how things are going to play out between the new administration of Biden and China’s.

In the U.S., things are improving with the Covid-19 vaccine being rolled out. Companies can escape lockdowns and actually plan ahead and look to make investments.

“I see that Vietnam’s prospects in the next couple of years are pretty good.”

Singapore is a major hub and many things flow through that country, but if Vietnam could cut Singapore out of the picture by directly shipping things to different locations, it could become the center of logistics, he said.

But he admitted there are some questions about deepwater ports in Vietnam like if they could berth new giant ships of 18,000-20,000 TEU and if goods from California in the U.S could be shipped to Vietnam without going through other places.

Ozkul said reliability is also crucial for Vietnam in attracting foreign investors as a new supply chain hub, and the country’s success in controlling the pandemic bodes well in this regard.

The speed at which companies move to Vietnam future depends on several things, he said.

Firstly they would check infrastructure such as the road network, ports and intermodal rail yards and talk to authorities in various places to see what incentives they offer, he said.

The government has a role to play in attracting them by offering incentives.

As for sectors in the supply chain, he noted that electronics companies prefer clusters. For instance, a phone company needs various parts from other suppliers such as microchips, motherboards and screens, and would come to Vietnam if these are available locally to minimize the cost of shipping them from elsewhere, he pointed out.

He recommended that Vietnam should have a deep discussion with foreign investors about the ready workforce in different sectors to attract them.

For instance, if Tesla, the U.S. electric car company, is looking to invest in Vietnam, it would consider if the workforce has basic knowledge it could develop or it has to begin from bottom up, he said.

Vietnam should invest in developing human resources for the logistics industry and supply chain management enabling locals to work such as operations and procurement managers, he said.

“On top of all this, Vietnam could highlight its success in controlling Covid-19 to show there is no disruption for investors.”

Filed Under: english, news Vietnam, international supply chain, China, Covid-19, workforce, infrastructure, free trade agreements, advantages, electrics, manufacturing hub, Vietnam's..., supply chain services international, DHL Supply Chain Vietnam, Vietnam Supply Chain

Doing business in Vietnam becomes easier as EVFTA comes into force: EC

August 1, 2020 by hanoitimes.vn

The Hanoitimes – The EU-Vietnam agreement is the most comprehensive trade agreement the EU has concluded with a developing country.

Doing business in Vietnam will become easier for European companies as the EU – Vietnam Free Trade Agreement (EVFTA) comes into force today [August 1], according to the European Commission (EC).

The EVFTA comes into force today.

European firms would now be able to invest and pitch for government contracts with equal chances to their local competitors, said the EC in a statement.

The EVFTA, officially signed last June after six years of negotiations, has been dubbed “the most ambitious” FTA the EU has ever reached with a developing country, according to the EC. It includes not only the almost full elimination of bilateral tariffs, but also a substantial reduction of non-tariff barriers. Moreover, it includes provisions to protect intellectual property, labor, environmental standards, and fair competition, while promoting regulatory coherence.

“Trade agreements, such as the one becoming effective with Vietnam today, offer our companies a chance to access new emerging markets and create jobs for Europeans. I strongly believe this agreement will also become an opportunity for people of Vietnam to enjoy a more prosperous economy and witness a positive change and stronger rights as workers and citizens in their home country,” said Ursula von der Leyen, president of the EC.

“Vietnam is now part of a club of 77 countries doing trade with the EU under bilaterally agreed preferential conditions,” added Phil Hogan, commissioner for Trade.

Hogan said while the deal strengthens EU economic links with the dynamic region of Southeast Asia, it will continue to encourage Vietnam to pursue “its most needed reforms.”

The EU-Vietnam agreement is the most comprehensive trade agreement the EU has concluded with a developing country. It takes fully into account Vietnam’s development needs by giving Vietnam a longer, 10-year period to eliminate its duties on EU imports.

At the same time, the trade agreement sets high standards of labor, environmental and consumer protection and ensures that there is no ‘race to the bottom’ to promote trade or attract investment.

Vietnam is the EU’s second largest trading partner in the Association of Southeast Asian Nations (ASEAN) after Singapore, with trade in goods worth US$53.6 billion in 2019.

The EU’s main exports to Vietnam are high-tech products, including electrical machinery and equipment, aircrafts, vehicles, and pharmaceutical products. Vietnam’s main exports to the EU are electronic products, footwear, textiles and clothing, as well as coffee, rice, seafood, and furniture.

With a total foreign direct investment stock of US$8.71 billion (2018), the EU is one of the largest foreign investors in Vietnam. Most EU investments are in industrial processing and manufacturing.

The agreement with Vietnam is the second trade agreement the EU has concluded with an ASEAN member state, following the recent agreement with Singapore. It represents an important milestone in the EU’s engagement with Asia, adding to the already existing agreements with Japan and South Korea.

A pre-Covid-19 study from Vietnam’s Ministry of Planning and Investment suggested the EVFTA and EVIPA would help Vietnam’s GDP grow an additional 4.6% and boost the country’s exports to the EU by 42.7% by 2025.

Meanwhile, the EC estimated the bloc’s GDP would be added US$29.5 billion by 2035, along with additional growth of 29% in exports to Vietnam.

Filed Under: Uncategorized Vietnam, EVFTA, trade deal, EU, European Commission, developing country, ASEAN, Singapore, South Korea, Japan, ease of doing business ranking 2014, doing business in algeria, doing business in canada, doing business in france, adventurous things to do in vietnam, goi do ve vietnam, kim do hotel vietnam, what do business analysts do, what do bags under your eyes come from, what do business admins do, when do elves on the shelves come back, when do elf on the shelf come back

VIETNAM BUSINESS NEWS FEBRUARY 8

August 2, 2021 by vietnamnet.vn

Flower growers look to online sales amid COVID-19 resurgence

Workers at a flower farm in Da Lat City.

Traditionally, city dwellers shop for flowers and botanicals at flower markets to fill their home with the most cheerful blooms to celebrate the new year.

But many flower growers said that flower markets were not busy this year, leaving them with an oversupply.

Nguyen Duy, a flower farm owner in Da Lat City, said that COVID-19 outbreaks in many localities would likely affect people’s purchasing power for flowers ahead of Tet festival.

Thuy Vu, director of the The Gioi Hoa Tuoi JSC, a wholesale supplier of flowers, said it would not focus on retail sales for the Tet festival this year due to market uncertainty.

Nguyen Thi Ngoc Lan, a flower vendor at Ho Thi Ky flower market in HCM City, said flowers stockpiled for the Tet market this year were not as numerous as last year due to concerns over weak purchasing power.

Purchasing orders with flower farms are expected to change in the next few days depending on the control of COVID-19, Lan said.

Flower farms in Da Lat City have seen a 55 per cent drop in orders from wholesale markets in other cities and provinces, according to a survey of the Da Lat City People’s Committee.

The committee, however, has reported a boom in online sales of agricultural produce, flowers and botanicals ahead of Tet.

It advised farms to use bank transfer payments for retail orders and to sign contracts with merchants for wholesale orders to ensure the success of online deals.

Livestreams

Shoppers can find various types of flowers from flower farms and merchants on online shopping platforms.

Nguyen Thi Bich Thuy from Biofresh Company in Da Lat City has hosted livestreams via Facebook to guide viewers through different types of flowers and plants available on the farm.

Amid the pandemic, live commerce has helped promote and sell products, and engaged potential shoppers, Thuy said.

Tran Van Tam, a flower grower in Da Lat City, said that flower farms in the city adopted online sales to reach new buyers as wholesale buyers were reluctant to close deals due to worries about weak demand.

This year, flower farm owners are concerned that they will be left with an oversupply of flowers, so they expect to quickly sell stocked products at reasonable prices, Tam said.

Dalat Hasfarm is offering Tet collections of flower vases and combo deals for cut flowers and pot plants with discounts on online orders.

Online flower markets are also featuring extensive selections of imported flower products such as forsythia, ilex, and Japanese peach flowers. A vase of imported flowers costs VND3-9 million (US$130-390). 

Rice trading businesses post good results on higher rice price

Vietnamese agricultural companies recorded high profit in 2020 as the country’s rice exports saw good results.

In 2020, Viet Nam’s rice export volume fell by 1.9 per cent year-on-year to 6.2 million tonnes, but export value increased 11.2 per cent to $3.1 billion, according to calculations based on data from the General Department of Viet Nam Customs.

Climate change and disruptions in supply chains due to COVID-19 have affected Viet Nam’s rice production, resulting in an increase in the rice price. Last year, Viet Nam’s average rice price for export rose 13.3 per cent year-on-year to nearly US$499.3/ton.

The rice price was also boosted by rising demand around the world as many countries stockpiled food due to concerns over the pandemic.

This helped rice trading companies like Loc Troi Group JSC (LTG), Vietnam National Seed Group JSC – Vinanseed – (NSC) and Trung An Hi – Tech Farming JSC (TAR).

The fourth quarter financial report showed that Loc Troi’s revenue surged nearly 77.5 per cent year-on-year to VND3.5 trillion in the last quarter of 2020. The company’s profit after tax was VND163.7 billion in the same period, four times higher than that of 2019.

In the whole of 2020, Loc Troi’s revenue declined by nearly 9.7 per cent to VND7.5 trillion, but it still recorded an increase of over 10 per cent year-on-year in profit after tax to nearly VND369 billion as its expenses reduced.

Loc Troi is a leading company in trading agriculture commodities, such as pesticides and seeds, and food which mainly is rice.

Vinaseed also saw a sharp increase in revenue in the fourth quarter after slowing down in the first three quarters.

The company’s revenue climbed 22 per cent year-on-year to nearly VND666.6 billion in the last quarter, but its profit after tax fell 6.2 per cent to over VND70 billion as sales and administrative expenses increased 15.6 per cent and 10.5 per cent, respectively. It’s profit after tax in 2020 also decreased to VND194.5 billion.

The seed sector, which mainly is rice, plays an important role in Vinaseed’s businesses, accounting for more than 93 per cent of revenue and profit. Last year, Vinaseed’s industrial centre for seed and agricultural product processing in Dong Thap Province was opened, increasing its production capacity by over 40 per cent.

In the fourth quarter, Trung An reported a rise of 8.5 per cent year-on-year in net revenue to VND613.1 billion, while its profit after tax fell sharply in the same period as its financial activities and other expenses rose. The company’s profit after tax decreased by 81 per cent year-on-year to nearly VND6.3 billion.

However, thanks to good results in the first nine months of 2020, Trung An’s profit after tax for the whole year still increased 46.5 per cent to VND88.2 billion.

With the rally of rice prices since the beginning of 2021, investors expect businesses in the industry to take advantage of this trend to see positive results in the first quarter of this year.

Viet Nam’s rice price for export was quoted around US$500/ton in January, according to a report from the United States Department of Agriculture. 

Local wood industry to capitalise on export opportunities to US

With the housing market in the United States enjoying strong growth, demand for wooden furniture is expected to rise considerably, opening up bright export prospects for the Vietnamese wood industry.

According to data released by the United States International Trade Commission, during the opening 11 months of last year, the US’ imports for wooden furniture endured a decline of 0.6% to US$16.8 billion compared to the same period from 2019.

Vietnam remained as the largest supplier of wooden furniture to the United States throughout the reviewed period, with the export turnover reaching US$6.26 billion, a rise of 30.9% on-year.

The proportion of imports from the country accounts for 37.2% of the total import value, up 9% compared to last year’s corresponding period.

Most notably, Vietnam is the largest market for bedroom furniture for the US, making up 49.7% of the US’ total import value, followed by Malaysia, China, and Indonesia.

Nguyen Liem, chairman of Lam Viet Joint Stock Company, attributed this increase in US demand for wooden furniture to the impact of the novel coronavirus (COVID-19) pandemic as it has forced many Americans to remain indoors and focus on activities such as renovating their homes and purchasing new furniture.

He emphasised that Vietnamese wood brands in the US market have significantly improved in recent years due to American people being willing to purchase Vietnamese wooden furniture at more expensive prices over similar products from the Chinese market.

Do Xuan Lap, chairman of the Vietnam Timber and Forest Products Association, pointed out that the wood industry’s strategic export products in the US market will be kitchen cabinets and bathroom cabinets.

Due to this, Lap advised local firms to be aware of market changes and appropriate product strategies, while enhancing their competitiveness to deeper penetrate into the global supply in order to increase exports to the demanding market.

US to impose anti-dumping tax on Vietnamese copper pipes

The US Department of Commerce (DOC) has issued a preliminary conclusion regarding an anti-dumping investigation into copper pipes which originate from Vietnam, according to the Ministry of Industry and Trade.

This includes copper pipes coded: 7411.10.1030; 7411.10 .1090; 7407.10.1500; 7419.99.5050; 8415.90.8065; and 8415.90.8085

In line with the preliminary conclusion reached by the DOC, copper pipes have been imported from Vietnam and subsequently dumped in the US with a margin of 8.05%, which is far lower than the plaintiff’s initial allegation of 110%, along with the anti-dumping tax of up to 60% that the US is currently applying to copper pipes from China.

Based on these conclusions, the US is set to impose a preliminary anti-dumping tax rate of 8.05% on Vietnamese copper pipes.

The DOC also stated that due to the impact of the novel coronavirus (COVID-19) pandemic, it will not conduct on-site verification as part of the investigation. Instead, it will make the final determinations through use of alternative methods.

The DOC is poised to announce a deadline for stakeholders to submit its written comments, while concerned parties may also request a hearing by submitting a written request to the DOC within 30 days since the notice of the preliminary conclusion.

Vietnam’s export turnover of copper pipe products to the US in 2019 and 2020 reached US$151.1 million and US$183.9 million, respectively.

Industrial park developers promote sustainability to attract “eagles”

It is these industry leaders who are driving a movement as they look for a partner that matches their same sustainable outlook and goals.

As a result, local businesses in Vietnam, and industrial park developers in particular, are transforming their business model as well as adapting to international standards to attract these “eagles”. Although it can be tricky for industrial parks to balance profitability, concern for environment, and social commitments, there are still multiple ways they can do to stay sustainable.

In 2020, the “Eco-industrial Park Intervention in Vietnam – Perspective from the Global Eco-Industrial Parks Programme” project was launched in Ho Chi Minh City by the Ministry of Planning and Investment (MPI) and the United Nations Industrial Development Organisation (UNIDO).

At the workshop, five industrial parks across the country were chosen to implement eco-industrial park initiatives. The project will be carried out in a period of three years with an aim to establish a more sustainable industrial park model and pave the way to the replication of this model across Vietnam in the future.

One of the five pilot industrial parks is DEEP C Hai Phong I (also known as Dinh Vu Industrial Zone), the first footprint of DEEP C group in Vietnam. The industrial park cluster has gained a reputation as the only European-managed industrial park in Vietnam, with compatible European quality in all business aspects, from general infrastructures, utilities supply to park operations. Located in Hai Phong City and Quang Ninh province, DEEP C Industrial Zones is the northern representative of the project.

Long before the recent selection, DEEP C implemented their environmental sustainability strategy on four pillars: power, water, waste, and green zone. The main goal is taking the complexity out of investing in Vietnam while achieving common sustainability goals with investors. Overall, the strategy is to drive economic growth in a sustainable manner for DEEP C, investors and local community.

Depending on the nature of each industrial park, the developers can adopt different practices to stay sustainable. For DEEP C, they are the first industrial park to make a road from recycled plastics and a smart electricity grid possible in Vietnam. The recycled plastics road currently lies in DEEP C Hai Phong II Industrial Park in Hai Phong. More asphalt roads using recycled plastic will be stretched out all over DEEP C Industrial Zones as an innovative solution to address plastics waste and advance circular economy in Vietnam.

The group is now working on the generation of renewable energy from rooftop solar panel and wind turbine. By 2030, it aims to supply 50% of energy demand within its industrial park. Sustainability is also present in reusing of treated wastewater for various industrial purposes such as cooling tower of tenants, preserving mangrove forest along our port area as a natural buffering.

Construction work comply with strict standards on safety and environment before, during and after construction such as innovation (road made from plastics), sustainable sourcing of materials (containers), sustainable sites, energy efficiency (optimising solar and wind energy), indoor environment quality and water efficiency. In the years to come, DEEP C’s ready-built factories will be designed in the most nature-friendly way possible with LEED standards.

“We believe that eco-industrial park is the future of the industry and are happy to raise the standards for developing infrastructures inside industrial park and spread the benefits of eco manufacturing,” said Koen Soenens, General Sales and Marketing Director at DEEP C Industrial Zones.

“Sure it’s good for the environment, but it’s also good for the image, the quality of working and living, and it’s cost-saving for the maintenance and operations.”

DEEP C Industrial Zones launched its base in Hai Phong City, Vietnam in 1997 with the development project of Dinh Vu Industrial Zone (nowadays known as DEEP C Hải Phòng I), a collaboration between Belgian group Rent-A-Port and Hai Phong People’s Committee.

Over the past 23 years, DEEP C has evolved to be one of the largest industrial park developers in Vietnam with five sub-zones covering 3,400 ha of industrial land, forming an industrial cluster in Hai Phong City and Quang Ninh province – the most dynamic growing region in the northern region.

To date, DEEP C Industrial Zones are home to 120 projects with a total investment of US$4 billion, backed by multinational companies like Bridgestone, Idemitsu, Knauf, Chevron, tesa.

Efforts made to promote sale of crops in virus-hit provinces

According to the Ministry of Agriculture and Rural Development, the total winter crop area which had not been harvested was more than 7,830 ha, or 35 per cent of the northern province’s total crop area. In Kinh Mon district, there was about 3,500 ha of onion, 350 ha of carrot in Nam Sach and 400 ha in Cam Giang, 200 ha of vegetables in Gia Loc, 200 ha in Tu Ky and 400 ha in Kim Thanh.

In Quang Ninh, the total unharvested crop area was more than 2,000 ha, mainly potato, corn and vegetables with a total yield of about 30,000 tonnes.

The ministry said that it was important to raise solutions to promote the sale of farm produce for farmers in locked-down areas.

The ministry said that prices of farm produce in Hai Duong had decreased by around 10-20% since the outbreak of virus clusters late last month.

Nguyen Nhu Cuong, Director of the ministry’s Department of Crop Production, the sale of carrot and potato was the most difficult at the moment because these two products had high output volume while domestic consumption accounted for just 10 percent and the rest must be exported.

The capacity of cold storage in Hai Duong was limited, which would be a problem if the virus was not put under control before Tet, he said.

He added that the transportation of goods to/from locked-down areas was very difficult. Local markets were also tightening disease control measures.

Hanoi, Hai Phong and Quang Ninh were the major markets for the consumption of Hai Duong’s farm produce. However, these provinces were banning all vehicles and people from Hai Duong, which affected the consumption. Wholesalers from other provinces did not want to come to Hai Duong to collect farm produce with hesitation over the virus and worries that they must practice social distancing.

According to the Hai Duong provincial Department of Agriculture and Rural Development, around 128,000 tonnes of vegetables, meat and fish in the province were waiting for consumption.

In that context, it was important to promote consumption in the province, increase storage and implement processing for longer preservation, the ministry said.

It was a must to apply prevention measures following the guidance of the Ministry of Finance when transporting products out of the virus-hit areas, the agriculture ministry said.

At the same time, preparations must be made for the next cultivation season.

Recently, the Quang Ninh provincial Department of Industry and Trade helped connect for the sale and 17 million potatoes, worth VND153 million (US$6,600).  

Six enterprises also bought more than 10,000 chickens for farmers in Chi Linh city.

First Chilean cherries enter Vietnamese market

A launching ceremony took place recently at Thu Duc wholesale market and Biovegi store in Ho Chi Minh City to mark Chilean cherries penetrating the Vietnamese market for the first time.

To meet the increasing demands of consumers, the Chilean Fruit Exporters Association (ASOEX) has been co-operating alongside the Chilean embassy and the Chilean trade promotion agency in Vietnam (ProChile) to accelerate the import and distribution of Chilean cherries within the Vietnamese market.

Cherries are popular among Vietnamese consumers due to their taste and health benefits, especially their antioxidant capacity. Indeed, the consumption season for Chilean cherries usually begins in December and lasts until the end of February.

After being imported into Vietnam, cherries will then be distributed to shopping malls, supermarkets, convenience stores, and wet markets throughout the country.

The promotional scheme started on February 5 and is due to run for the duration of February.

Agribank among most valuable global banking brands

The Vietnam Bank for Agriculture and Rural Development (Agribank) ranks 173rd among the world’s 500 most valuable banking brands, according to a list recently released by the world’s leading independent brand valuation and strategy consultancy Brand Finance.

Featuring in the Brand Finance Banking 500 list for 2021, Agribank climbs a total of 17 notches compared to the 2020 version, earning the highest spot among the eight commercial Vietnamese banks to be named on the list.

Last year saw the Vietnamese banking industry face many changes and challenges as the entire country coped with the impact of the novel coronavirus (COVID-19) pandemic.

Throughout 2020 Agribank continued to confirm its prestige by winning major prizes such as Vietnamese national brand, being among the top 10 of the VNR500 which features the 500 largest local enterprises, and being named the bank for the community.

Brand Finance is a leading independent brand valuation and global strategy consultancy that was founded in London, the UK, in 1996.

The consultancy evaluates 5,000 brands globally and announces over 100 reports annually.

HCM City industries make good start to 2021

HCM City’s Index of Industrial Production rose by 34.5 per cent in January despite the continuing problems caused by the COVID-19 pandemic.

The city’s four main industries have seen year-on-year growth, with electronics achieving the highest rate of 61.9 per cent.

The remaining three industries are mechanics (44.3 per cent growth); food and beverages (27.3 per cent); and chemical, rubber and plastic (up by 51.7 per cent).

Others such as wood and bamboo processing and automobile also reported growth.

Nguyen Phuong Dong, director of the Department of Industry and Trade, said that due to the city’s efforts to control the pandemic, economic activities are recovering.

Business activity has generally picked up, with more than 3,300 businesses reopening.

Retail sales and services were worth nearly VND120 trillion (US$5.2 billion), a 4 per cent increase.

Exports were up by 16.4 per cent.

The local authority said the city will seek to keep the pandemic under control while still ensuring economic growth.

It is guaranteeing sufficient supply of foodstuff and other high-quality goods and steady prices during Tet, and will organise festival and entertainment events for the festival while complying with the Government’s COVID-19 requirements.

It is focusing on carry out the 13th National Party Congress’ resolution (which contains social-economic targets and national development orientations) and the city’s 11th Party Congress resolution. 

Digital Transformation will “give a hand” to businesses in the new era

Digital transformation holds the key to businesses keeping up with market trends, overcoming challenges and seizing opportunities amid the current unpredictable situation.

And, Microsoft’s ‘Tech Intensity’ will play a key role in enhancing businesses’ resilience and transformation of organisations.

According to a Microsoft-IDS study, 74% of all business decision-makers in the Asia Pacific say that innovation is an imperative now. They see the ability to innovate, especially digital transformation, as vital to performance and resilience before and after the Covid-19 pandemic.

Always the pioneer in technology, Microsoft has never stopped researching or developing tools and solutions to enhance digital transformation globally, especially by businesses.

In Viet Nam, it keeps businesses abreast of new digital transformation trends by organising programmes to introduce digital transformation solutions and share the experiences of businesses that have achieved the transformation.

Digital transformation is always an urgent requirement for business to survive and thrive, especially amid the pandemic. To enable businesses to embrace innovation, Microsoft has introduced the concept of Tech Intensity, which determines the success of businesses amid the current crisis.

Tech Intensity consists of four key pillars that enable the success of an organisation during the transformation process.

The first is vision and strategy. Businesses need to become more resilient to change, and also need to think beyond what organisations think is possible, especially at a time when speed and agility are vital to survive.

The next is culture, which supports strategy and vision to activate and empower employees. Organisations that are successful in digital transformation will have their employees unite and work based on a vision in which employees are shared.

The third one is differentiation of potential. Those businesses that discover the differentiation of potential of their organisations will respond and adapt to any circumstance more easily.

The last one is capacity, a combination of human capacity and technology. Businesses need human capital equipped with the right skills as well as appropriate and secure technology platforms with the ability to empower employees with remote access and promote business development under any circumstances.

Pham The Truong, General Manager of Microsoft Vietnam, said, “The combination between people and technology within an organisation will create new opportunities for businesses.”

Nanoco, a leading electrical equipment distributor, has chosen Microsoft as a trusted partner for its digital transformation. To meet its business development and market expansion needs, the company has adopted Microsoft’s digital transformation solutions and achieved much success.

Luong Luc Van, General Director of Nanoco, said: “We are really pleased with our experience with [Micosoft solutions] from Office application to Teams tool and cloud storage solution OneDrive. It is also very easy to collaborate and share documents.”

With its diverse and flexible solutions, Microsoft will continue to help businesses achieve digital transformation, successfully exploit digital data, improve their efficiency, and optimise their operation process.

Food company Vissan profit tops $9.01 million

Vissan Joint Stock Company reported pre-tax profits of nearly VND208 billion (US$9.01 million) on revenues of VND5.16 trillion ($223.4 million) for last year, in both cases achieving the targets it set for itself.

Its production of beef and processed products also met the targets while pork output fell slightly short.

It launched many new products last year, including pork braised with eggs and coconut water, beef ball, dragon fruit dumpling, gac fruit dumpling, pumpkin dumpling, five-spice mushroom spring roll, and ready-to-cook pork.

It began selling via a hotline, 19001960, Fanpage and website at vissanmart.com, and launched online stores on Sendo, Lomart and Grab.

In 2021, amid shrinking pork supply due to the African swine fever epidemic, Vissan plans to find more farms that meet VietGAP standards and TE-FOOD traceability to ensure steady pig supply.

It also plans to develop more fresh meat products using chilled meat processing technology and modified atmosphere packaging technology, and expand its distribution system, especially online.

HCM City to throw the book at high-end property developers for violations

The HCM City Department of Natural Resources and Environment plans to review the progress of high-end property projects and fine or even withdraw the licences of those found violating regulations.

If they are excessively late, their land might be repossessed as permitted by the law.

At the same time, the city’s authorities will publicise the mortgaged projects, according to the city People’s Committee.

It has instructed the Department of Planning and Investment to tighten control over foreign investment in property and the repatriation of profits to prevent money laundering and tax evasion.

The city will also review mortgaged and long-delayed projects facing obstacles caused by land regulations, delay in paying land-use fees or the slow handover of house use right certificates.

The Department of Construction has been ordered to keep a close watch on the property market to avoid price bubbles.

The directives seek to redress the imbalance in the housing market caused by the huge supply of high-end apartments and shortage of housing for low-income people.

The shortage of social housing and mid- and low-priced houses is making it hard to ensure social welfare, according to a recent report by the HCM City Real Estate Association.

It has called on developers to increase their investment in the mid- and low-priced segments to address the imbalance. 

Tourism firms ask for help during new Covid-19 outbreak

Tourism firms in HCM City are calling for support from local authorities after thousands of customers cancelled their Tet tours following the new Covid-19 outbreak.

Nguyen Thi Khanh, chairwoman of the Tourism Association of HCM City, said they had sent an official document to the Ministry of Culture, Sports and Tourism, Vietnam National Administration of Tourism, HCM City People’s Committee, Vietnam National Tourism Association and HCM City Department of Tourism about support policies for tourism firms.

According to Khanh, many tourism firms in the city are facing great difficulties as thousands of customers have cancelled their bookings following the recent Covid-19 outbreak. 

The official said that the government’s response to new community Covid-19 infection cases has resulted in many achievements but there are still several shortcomings. For example, tourism firms still have to pay both corporate taxes and VAT on time while the deadline for at least VAT was extended for six months in March 2020. Firms were still suffering from losses.

The programme to reduce electricity charges for restaurants ended in 2020. Khanh also sought support policy to extend the deadline to pay social insurance. Currently, the deadline will only be extended for firms who already cut 50% of their staff.

The Tourism Association of HCM City asked to waive or reduce the VAT by 50% for 2021 because most accommodation establishments, tourism firms, transportation firms and tourism sites have little to no income while having to pay interest and other costs. The government should exempt land rental fees in 2021 and 2022, help tourism firms access preferential loan packages, extend the repayment period to avoid bad debts and help renew and issue business licenses for free in 2021.

Other requests include reducing electricity charges in 2021, extending the deadline for social insurance payment until June 2022 and adjusting the requirements for unemployment insurance benefits like reducing minimum working time requirements from 12 to 3 months.

Statistics from the Department of Tourism show that 453 accommodation facilities in HCM City had electricity charges reduced, 600 tour guides were given support packages, 21 firms had various fees reduced and some firms which had collaterals had repayment deadlines extended for interest rates lowered.

In the future, firms will get support from Vietnam Bank for Social Policies so that they can access lower interest rates or longer deadlines without needing collateral.

Home cleaning services in high demand as Tet nears

Home cleaning services are in great demand again in Hanoi as busy homeowners want clean houses for Tet. 

Thuy Quynh from Hai Ba Trung District said both she and her husband were all too busy at year-end so they decided to a hire cleaning service.

“Both I and my husband are not allowed to have an early break. We only have enough time to buy food for Tet,” she said. “We called many places but they were all full of orders. We kept calling and finally were able to find a provider that was still receiving orders.”

Despite higher fees, Phuong Hoa from Hoang Mai District said it was still acceptable.

Nguyen Thu Trang, an employee at Alin Cleaning Services said only a few slots left. They have different packages for cleaning apartments while the cost for cleaning houses will be calculated by square metres. A cleaning package for an apartment that is less than 60 square metres is around VND1.2m (USD52). The prices are VND22,000 per square metre for penthouse apartments that are over 150 square metres.

The services remain open until the 28th day of lunar December.

The detail of the service will be given to the customers. Another service provider in Cau Giay said they had to visit the houses or apartments first to gauge the size and materials they have to work with to set the prices. It will also be varied depending on the cleaning chemicals the owners want to use.

The usual prices are VND15,000 to VND20,000 per square metre. At year-end, the prices often increased by 20%.

Vietnamese and foreign investors open more stock trading accounts

Both Vietnamese and foreign investors continue to open more accounts as the local stock market to capitalise on perceived opportunities in the market.

According to fresh data from on stock trading from Vietnam Securities Depository (VSD), the number of newly opened domestic individual investor accounts in January 2021 reached a record high with 86,107 accounts – an increase of 36.5 per cent compared to December 2020.

This is also the fifth consecutive month domestic individual investors have opened more than 30,000 new accounts a month. Meanwhile, domestic institutions opened 162 new accounts in January, down from 168 accounts in December 2020.

As of January 31, the total number of securities accounts of domestic investors reached more than 2.8 million, an increase of 86,269 accounts compared to the previous month.

In January, the VN-Index hit 1,200 points and created a short-term market peak. Around the beginning of January, trading value on Vietnam’s stock market continuously set a record high and reached more than VND20 trillion ($870 million) in one trading session.

However, due to strong fluctuations at the end of January, trading liquidity in the first sessions of February decreased significantly and was only around VND15 trillion ($652 million) per session.

Meanwhile, foreign investors opened 476 new accounts in January, up about 23.3 per cent on-month. This is also the highest level since June 2018. Of this, foreign individual investors have opened 460 new accounts, while 16 accounts are from institutional investors. By the end of January 31, foreign investors had a total of 35,547 accounts in Vietnam’s stock market.

Which Vietnamese banks have been keeping NPLs under 1 per cent?

While a number of banks experienced sharp increases in non-performing loans (NPLs) due to the unprecedented pandemic, some lenders have successfully kept their NPL ratios below 1 per cent. 

Meanwhile, Vietcombank – one of the largest state-owned lenders in Vietnam – recorded VND5.229 trillion ($227.35 million), down more than 50 per cent compared to the end of September and down 10 per cent compared to the beginning of 2020.

The bank’s NPL ratio dropped sharply from 1.01 per cent at the end of this year’s third quarter to 0.62 per cent by the end of 2020 – also the lowest level in its history.

ACB’s NPL ratio remains one of the lowest levels in the landscape. According to the bank’s financial statements, soured debts at the end of 2020 were VND1.840 trillion ($80 million), up 27 per cent compared to the beginning of the year.

Similarly, BAC A BANK’’s NPL ratio increased slightly but was still controlled below 1 per cent. The bank’s NPLs at the end of 2020 amounted to VND628 billion ($27.3 million), up 25.6 per cent from the beginning of the year.

The fifth lender reporting an NPL ratio below 1 per cent is ViettinBank (around 0.94 per cent as of December 31, 2020), according to local newswire Doanh nghiep & Tiep thi. This is also its lowest NPL ratio in the 2016-2020 period.

VietinBank and ACB in 2020 have signed exclusive bancassurance contracts with major life insurers (VietinBank with Manulife, ACB with Sun Life). These deals are envisaged to provide the two lenders with a large amount of revenue, while also boosting their stock value.

HDBank and MB had more than 1 per cent NPL ratios due to their consumer finance companies (HD Saison of HDBank, and MCredit of MB). However, the asset quality of the parent banks remains basically good in the domestic banking system.

The bad debt ratio of HDBank’s banking arm by the end of 2020 was only 0.93 per cent, while that of MB was 0.92 per cent.

Another local lender below the 1 per cent threshold is NamABank, the newly-listed ticker in UPCoM. The bank’s total bad debt ratio decreased from 1.97 per cent at the end of 2019 to 0.83 per cent as of December 2020.

Insurance segment sits in good stead

Despite several challenges stemming from intense competition, the health crisis, and low interest rates, the local insurance landscape is predicted to maintain its growth momentum in 2021. 

Other insurers are also going public or working with foreigners. For instance, Petrolimex Insurance JSC – a subsidiary of Petrolimex – has confirmed to raise its foreign cap from 49 per cent to 100 per cent.

Currently Vietnam boasts 31 non-life insurers, 18 life insurers, 16 brokers, and two reinsurers. Many reputable foreign insurance companies have a presence in Vietnam in both life and non-life sectors.

However, according to brokerage Saigon Securities Incorporation (SSI), aviation, travel, and freight insurances, which make up for around 6 per cent of the total non-life insurance premium revenue, were heavily affected by the COVID-19 pandemic.

The premium revenue for both health and life insurance reported a plunge in the social distancing period in March and April of 2020. However, these segments witnessed a steady recovery in the following months.

According to the Association of Vietnam Insurance, the health and life insurance premium revenue in the first three quarters of 2020 increased by 25.6 and 21.2 per cent, respectively, against the same period of 2019.

SSI indicated that the two largest enterprises are losing market share in life and non-life insurance, demonstrating fierce industry competition.

In the first three quarters of last year, the non-life market share of Bao Viet Holdings Group and PetroVietnam Insurance decreased while six companies increased their life insurance market share – Manulife, AIA, Generali, MB Ageas, FWD, and Aviva. Others lost market shares, such as BaoViet Life, Prudential, Dai-ichi Life, Chubb Life, and Hanwha Life.

In late December, VietinBank and Canadian insurer Manulife inked an exclusive 16-year bancassurance partnership to better meet the growing financial and insurance needs of Vietnamese people.

Manulife would also acquire insurance firm Aviva Vietnam since the latter formed a joint venture with VietinBank to distribute insurance products. Manulife’s life insurance market share is predicted to reach 18.5 per cent – nearly equal to Prudential’s share of 18.8 per cent.

“We’re in an exclusive bancassurance agreement with Techcombank, SCB, and VietinBank, three prestigious groups, and are putting in our best efforts to become the market leader in this regard,” said Hoe Shin Koh, chief partnership distribution officer at Manulife Vietnam. “Bancassurance is our strategic approach not just in Vietnam, but in the entire Asian market. For instance, in 2015, Manulife Asia paid $1.2 billion to Singapore’s DBS Group Holdings for a 15-year partnership, allowing us to sell products through this lender’s Asian branch network.”

Experts at SSI forecasted that the growth of the premium revenue for life and non-life insurance segments in 2021 would be 22 and 10-12 per cent on-year, respectively.

“However, the insurance industry will still face numerous roadblocks, including low-interest rates and increasing re-insurance costs. These factors will consequently reduce insurers’ profit because their investment portfolios are bank deposits and government bonds. Also, if the government bond yields drop, profits will be negatively impeded due to higher life-insurance reserves,” said SSI.

In 2020, in spite of the pandemic, the insurance market still maintained growth momentum with total property insurance of approximately VND552.4 trillion ($24.01 billion), up 21.5 per cent on-year, according to the statistics published by the Ministry of Finance (MoF).

Total equity capital was estimated at VND113.5 trillion ($4.9 billion) and total insurance premium was VND184.7 trillion ($8.03 billion), signifying increases by 27 and 15.2 per cent respectively. The claim cost was VND48.2 trillion ($2.09 trillion).

Data revealed by the MoF also showed that between 2016 and 2020, the total assets of the insurance market witnessed an average hike by 19 per cent on-year, with the figure for 2020 estimated at VND526 trillion ($22.87 billion).

The total money that insurance companies invested back to the economy saw an average increase by 19.4 per cent, with an estimated VND416 trillion ($18.09 billion) in 2020. The whole premium income boosts an average of 19.3 per cent and was estimated at VND226 trillion ($9.83 billion) last year.

The MoF continued to improve the draft decree on compulsory civil liability insurance for motor vehicle owners, replacing Decree No.103/2008/ND-CP dated 2008 and Decree No.214/2013/ND-CP from 2013. In addition, vehicle insurance is forecast to grow strongly, especially after Decree No.70/2020/ND-CP from last year introduced a registration fee cut of 50 per cent for cars.

KIS Securities believed the local government’s eagerness to accelerate development of the domestic car market will lay a vital foundation for vehicle insurance in particular.

Source: VNA/VNN/VNS/SGGP/VOV/NDO/Dtinews/SGT/VIR   

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Prince Group Unveils Sustainable Development Masterplan by Surbana Jurong for Ream City in Sihanoukville

February 8, 2021 by bizhub.vn

Cambodian conglomerate brings world-renowned expertise from Singapore to oversee 834-ha project, catalyzing growth in Cambodia’s 3rd largest city

HONG KONG SAR – Media OutReach – 8 February 2021 – Canopy Sands Development, a member of Prince Holding Group, one of Cambodia’s largest and fastest growing conglomerates, approved a masterplan for Ream City developed by Surbana Jurong Group, a global urban, infrastructure and managed services consultancy headquartered in Singapore. The masterplan specifies a land use plan for the 834-hectare project requiring total investments estimated at US$16 billion, and will be developed on reclaimed land conveniently located within a 10 minutes’ drive from Sihanoukville International Airport. Ream City will act as a catalyst for the growth prospects of the entire Sihanoukville region, Cambodia’s third-largest city and home to the country’s deep-water port.

 

Ream City is set to transform Sihanoukville by introducing a sustainable ecosystem of residential and commercial activity that has the potential to house up to 130,000 residents (Link)

A major part of the plan includes an extensive beachfront that stretches beyond 6km. This will support a wide range of waterfront activities and inject vibrancy to the community. (Link)

 

Ream City is set to transform Sihanoukville by introducing a sustainable ecosystem of tourism, commercial and residential activity that has the potential to house up to 130,000 residents. Upon completion, the masterplan envisions the construction of family attractions, condominiums, landed and beachfront homes and affordable housing estates, themed shopping malls, business hubs, beach resorts, hotels, condotels, yacht and marina club. Surbana Jurong was appointed to undertake the masterplanning, urban design and coastal engineering works for Ream City.

Cambodia is located between Thailand and Vietnam and has positioned itself to be an attractive investment destination for businesses looking to expand in the ASEAN region.

Mr Yeo Choon Chong, CEO, ASEAN, Surbana Jurong said, “Cambodia continues to attract a steady flow of foreign direct investments. With our partners, we see immense potential to drive growth in this key market through our participation in iconic infrastructure projects.”

“The proposal prioritises the integration of nature to enhance the built environment. A major part of the plan includes an extensive beachfront that stretches beyond 6km. This will support a wide range of waterfront activities and inject vibrancy to the community. The plan also includes infrastructure enhancements to the community to support civic and community facilities such as schools, parks and open spaces, sports complexes, polyclinics and neighbourhood-level amenities. Once fully developed, Ream City will be an exciting destination for dining, retail, work, recreation and living.”, Mr Yeo added.

 

 ”We have liaised with Surbana Jurong for more than a year and are very happy with the masterplan they have proposed for Ream City,” said Mr Khong Weng Fook, Managing Director of Canopy Sands Development. “Surbana Jurong has consistently impressed clients around the world and are well-known for their extensive experience in urban development, deep and global talent pool, and comprehensive global coverage as they have developed masterplans for a wide variety of projects in more than 30 countries.”

“We are looking forward to working together to convert their proposed land use plan into reality and create a sustainable solution for living for the betterment of Sihanoukville and Cambodians.”

Beyond tourism, Sihanoukville Province is also diversifying economically with a growing base of entertainment, manufacturing, logistics, electricity production and agriculture businesses. It is situated at the cross-roads of major infrastructure initiatives like the Belt and Road Initiative and the Greater Mekong Subregion Economic Corridors southern route. The airport is also undergoing expansion and will initially see its capacity increase to accommodate 3.6 million passengers annually with further plans expected to deal with a potential passenger load of 10 million by 2030.

Together, Prince Group and Surbana Jurong aim to bring a holistic and meticulously planned approach to the coastal development that leverages the strengths of both parties — Prince Group, which also counts Prince Real Estate Group, Prince Bank, Cambodia Airways and Prince Huan Yu Real Estate among its group of companies, has completed numerous projects in Phnom Penh and Sihanoukville and has invested more than US$2 billion in local projects with a view to “Build a Better Life” for Cambodians.

About Prince Holding Group

Prince Holding Group, better known as Prince Group, is one of the largest corporate conglomerates in Cambodia, with businesses spanning across multiple industries, including real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors. Prince Group adheres to its mission of “Building a Better Life” and the Group’s philosophy espouses the values of “Commitment, Responsibility, Respect, Generosity and Innovation”.

About Canopy Sands Development

Canopy Sands Development’s vision is to build thriving living and working environments that elevate people’s livelihoods and wellbeing and deliver lasting prosperity to local communities. Led by a local and international team of highly experienced, reputable and respected professionals, each of whom has a unique and strategically critical global perspective, Canopy Sands Development is laying the foundations that will catalyze greater economic opportunities, generate major socio-economic benefits, and ensure long-term prosperity.

A leader in real estate development, Canopy Sands Development is working to build vibrant new communities across Cambodia, each of which will be built according to the highest international standards. In doing so, the company will create significant economic, social, and educational opportunities and deliver sustainable and lasting benefits to Cambodian communities.

About Surbana Jurong

Surbana Jurong Group (盛裕集团) is one of the largest Asia-based urban, infrastructure and management services consulting firms, with 70 years of track record in successful project delivery. Headquartered in Singapore, the Surbana Jurong Group comprises SMEC and Robert Bird Group in Australia, Sino-Sun in China, AETOS, KTP, Prostruct and SAA in Singapore, and B+H in Canada.

Our global talent pool of over 16,000 employees from more than 120 offices in over 40 countries worldwide includes architects, designers, planners, engineers and other specialists, who are driven by progressive thinking and creative ideas to help shape a better future.

Our technical experts deliver best-in-class solutions that cover the entire project life cycle from planning and design, through to delivery and management, and even decommissioning and closure. We provide a full suite of consultancy services across a diverse range of sectors such as aviation, healthcare, hospitality, transport, water and environment, energy and resources.

With a wealth of experience, we have built more than a million homes in Singapore, crafted master plans for more than 30 countries and developed over 100 industrial parks globally, building homes and designing cities that are socially, economically and environmentally sustainable, empowering communities to thrive.  For more information, please visit: surbanajurong.com.

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Filed Under: Uncategorized Media OutReach, sustainably developed cities in india, sustainably developed cities, reviving the city towards sustainable urban development, smec surbana jurong group

VIETNAM BUSINESS NEWS FEBRUARY 10

October 2, 2021 by vietnamnet.vn

HCM City targets domestic market for tourism recovery

The Ho Chi Minh City tourism sector this year plans to focus on digitalisation of the industry and promotion of domestic tourism amid a downturn in tourism because of the COVID-19 pandemic.

The sector will continue its efforts to boost domestic tourism as the main factor driving the recovery of the tourism industry.

The tourism communication and stimulus campaign, ‘Hello Ho Chi Minh City,’ has been implemented to promote the city as a safe, vibrant and friendly destination.

Tourism cooperation and linkages between HCM City and the Northeast, Northwest and the Central regions will also serve to boost domestic travel.

The city aims to receive 33.5 million domestic visitors this year if COVID-19 remains under control in the country./.

Tet sales increase sharply on low prices

With a week to go for Tet (the Lunar New Year) sales of goods bought to celebrate the Lunar New Year have increased by 30-40 percent from normal times, according to market observers.

They attribute it to prices remaining steady and people’s increasing income at the end of the year.

Saigon Co.op’s supermarket chains have managed to meet market demand thanks to early preparation of goods, accurate forecast of demand and discounts, Nguyen Anh Duc, its permanent deputy general director, said.

In January sales increased by 37 percent compared to the same period in the previous month, with growth of fresh and processed foods, cosmetics, kitchen appliances, and garments being high, he said.

There have been no shortages of goods, especially pork, and no price hikes, he said.

Dinh Quang Khoi, head of marketing and customer care at MM Mega Market Vietnam, said customers have bought Tet goods earlier than usual, and retail sales increased by more than 10 percent compare with same periods of last year, while the increase is 5 -6 percent if the wholesale segment is included.

Shopping malls in Ho Chi Minh City like Vincom Central Dong Khoi, Takashimaya and Aeon Celadon Tan Phu are crowded, especially at weekends.

Sales of processed foods are expected to go up by more than 20 percent.

People are switching more and more to poultry meat and eggs instead of pork because the pork price is rising to the delight of companies like San Ha, Ba Huan and Vinh Thanh Dat.

According to experts, the prices of many items have never been so stable as this year as the Covid-19 pandemic caused global demand to shrink.

Many products could not be exported, and so producers and distributors switched their focus to the domestic market, increasing supply.

To sustain demand in this scenario enterprises have had to improve quality and keep prices competitive./.

HCM City in top six most preferred markets for investment: CBRE

There was an increase in interest in Ho Chi Minh City which ranked sixth among Asia Pacific investors’ most preferred property markets for investors, according to a survey by market research firm CBRE polling more than 490 Asia Pacific-based investors in November and December 2020.

With the diversification of supply chains encouraging more manufacturing investment in the city, industrial and logistics assets are keenly sought after, said the CBRE’s 2021 Asia Pacific Investor Intentions Survey.

“HCM City has already been on the radar of investors in recent years, especially those who are looking to invest in Southeast Asia, as the city is viewed as having the potential for greater appreciation in property values and higher yields,” said Dang Phuong Hang, CBRE Vietnam Managing Director.

The survey outlines top 10 Preferred cities for cross-border investment, with Tokyo (Japan) in the first place, followed by Singapore, Seoul (the Republic of Korea), Shanghai and Beijing (China), HCM City, Shenzhen (China), Sydney (Australia), Osaka (Japan) and Melbourne (Australia).

Investors who expressed interest in investing in Southeast Asia indicated that they are willing to pay more for real estate purchase. 39.4 percent of these investors are comfortable to pay more than 10 percent higher this year than what they are willing to pay in 2020, while 19.7 percent are willing to paying up to 10 percent higher.

In the search for returns, investors looking at Southeast Asia are turning to value-added and core assets, even though there are some who are starting to look at distressed assets. Industrial/logistics and office remain their preferred sectors, while the hospitality sector is gaining favour.

Henry Chin, CBRE’s Global Head of Investor Thought Leadership and Head of Research, Asia Pacific, said: “stronger interest in core investment reflects investors’ greater emphasis on tenant credit and stable cash flows.”

“Assets with a solid rent roll of three years or longer typically attract far more bidders than those lacking this type of security,” he added.

Logistics was the most popular sector for investment as the pandemic-driven acceleration of e-commerce consumption boosted demand for this asset class. While interest in the office sector weakened, investors retain an optimistic view towards this sector, expecting a contraction in office purchasing activity of no more than 10 percent over the next three years./.

January sees largest capital injection into stock market since early 2020: SSI

January saw the largest amount of investment capital poured into Vietnam’s stock market since the beginning of 2020 on the back of strong exchange traded fund (ETF) inflows, according to a report by SSI Securities Corporation.

Vietnam is Asia’s only stock market with non-stop capital injection over the last four week as it attracted more than 100 million USD last month thanks to massive ETF inflows, outweighing the net capital withdrawal of around 23.5 million USD, said SSI’s February strategic stock market report entitled “Co hoi trong bien dong” (Opportunity in volatility).

ETFs have also raked in about 129 million USD, or two third of the total inflows in 2020, mostly into VFM Diamond ETF (1.31 trillion VND or 57.15 million USD) and VFM VN30 ETF (860 billion VND).

The market also experienced strong foreign buying in the last three days of the month, raising foreign players’ net purchases of shares in January to about 127 billion VND.

SSI stated that Vietnam has become a quite attractive market largely owing to the country’s successful containment of COVID-19, positive economic growth and the fact that it remains a destination of the ongoing global production shift.

Though the pandemic has been a key contributor to the market volatility during this period of time, capital injection from ETFs into Vietnam remains a positive driver of the stock market, SSI said, adding that this also means increasing level of volatility.

According to the report, more than 81 billion USD was poured into stocks in both developed and emerging markets across the worrld last month, also with the domination of the ETFs./.

Vietnam increases pork imports to cool off rising domestic prices

Vietnam imported more than 141,000 tonnes of pork worth 334.4 million USD in 2020, representing a rise of 382 percent and 500 percent over the previous year, respectively, customs statistics showed.

The increase in imports was to make up for the shortage in pork supply caused by African swine fever which pushed up domestic prices in the first months of 2020.

The pork was mainly imported from Brazil, Russia, Poland, the US and Canada. Brazil was the largest exporter of pork to Vietnam last year, accounting for 24.5 percent of the import volume.

The average pork import price was 2.2 USD per kilo.

According to the Ministry of Agriculture and Rural Development, Vietnam approved 25 countries to export livestock and poultry meat to Vietnam, including more than 800 enterprises from 19 countries allowed to export pork to Vietnam.

Vietnam imported more than 43,300 pigs for breeding, mainly from Thailand, Canada, the US, Denmark and Taiwan (China).

Live hog prices tended to increase in many provinces across the country from early January due to increases in consumption demand ahead of Tet (Lunar New Year) to around 80,000 – 84,000 VND (4 USD) per kilo, around 5,000 VND higher than the end of December.

However, in recent days, pork prices decreased by around 1,000-5,000 VND per kilo.

Nguyen Van Trong, Deputy Director of the ministry’s Department of Livestock Production, said pork prices dropped in recent days because processing companies reduced their purchases as they had enough goods for consumption during Tet.

The enhanced prevention against smuggling of pork to China together with the increase in supply also helped lower pork prices.

Now Vietnam had 27.3 million pigs, an increase of 21 percent over a year ago and equivalent to 88.7 percent of the time before the disease occurred.

The Ministry of Industry and Trade said that early preparations were made to ensure enough supply of pork for Tet with many enterprises launching price stabilisation programmes./.

Australian expert highlights Southeast Asia’s trade prospects

Richard Maude, Senior Fellow at Australia’s Asia Society Policy Institute, has spoken highly of trade prospects of Southeast Asian nations against the backdrop of COVID-19.

In an article, he said that global trends in trade, foreign investment and production offer a mix of peril and opportunity for the Southeast Asian governments as they try to steer their damaged economies towards recovery.

“Beset by lockdowns, disrupted supply chains and travel restrictions, world trade volumes fell by historically steep levels in the first half of 2020. Southeast Asia was no exception – the region’s economies rely heavily on external demand and many play increasingly significant roles in East Asian supply chains,” he continued.

In the second quarter of 2020, for example, the value of goods exported from the ten members of the Association of Southeast Asian Nations (ASEAN) fell by 15 percent on a year-on-year basis and imports fell by 27 percent.

Foreign direct investment flows to Southeast Asia also declined sharply early in 2020.

The vertiginous plunge in world goods trade, at least, may now be bottoming out, but the International Monetary Fund (IMF) remains decidedly gloomy about prospects for a trade-led recovery in Asia.

Even so, amid all the uncertainty and downside risk, Southeast Asia may yet find itself better placed than other regions to trade itself out of trouble, the expert said, citing that East Asian economic regionalism will strengthen as one of the reasons.

Most major East Asian economies – China, Japan, the Republic of Korea and Taiwan – have managed to re-open their economies. China’s giant economy in particular is once again growing and helping keep Southeast Asian trade afloat.

Domestic consumption in Southeast Asia could double to 4 trillion USD over the next ten years.

Within the region, there are also signs the deep economic slump of the first half of 2020 is easing, at least in those parts of the region where the pandemic has been tamed. The decline in ASEAN global goods exports and imports, for example, slowed in the third quarter of 2020 on a quarter-on-quarter basis.

Vietnam, one of the best performing ASEAN economies, managed to eke out a small increase in economic growth in 2020, he cited.

Once it enters into force, the newly signed Regional Comprehensive Economic Partnership (RCEP) trade deal will give intra-Asian trading another boost. It is an incentive for large corporations to locate as much of their supply chains as possible within the bloc.

“ASEAN is also well placed to benefit from supply chain diversification within East Asia. Some manufacturing was already shifting to Southeast Asia before the pandemic.”

The pandemic has now reinforced interest from companies from around the world in regionalisation and supply chain diversification. Some governments, Japan, for example, is offering financial incentives to some of its companies to build production sites in Southeast Asia.

Like the rest of the world, the region faces headwinds and uncertainties, Maude noted, putting forth some suggestions for regional countries to use trade to help drive economic recovery./.

Tet sales increase sharply on low prices

With a week to go for Tet (the Lunar New Year) sales of goods bought to celebrate the Lunar New Year have increased by 30-40 per from normal times, according to market observers.

They attribute it to prices remaining steady and people’s increasing income at the end of the year.

Saigon Co.op’s supermarket chains have managed to meet market demand thanks to early preparation of goods, accurate forecast of demand and discounts, Nguyen Anh Duc, its permanent deputy general director, said.

In January sales increased by 37 per cent compared to the same period in the previous month, with growth of fresh and processed foods, cosmetics, kitchen appliances, and garments being high, he said.

There has been no shortages of goods, especially pork, and no price hikes, he said.

Dinh Quang Khoi, head of marketing and customer care at MM Mega Market Viet Nam, said customers have bought Tet goods earlier than usual, and retail sales increased by more than 10 per cent compare with same periods of last year, while the increase is 5 -6 per cent if the wholesale segment is included.

Shopping malls in HCM City like Vincom Central Dong Khoi, Takashimaya and Aeon Celadon Tan Phu are crowded, especially at weekends.

Sales of processed foods are expected to go up by more than 20 per cent.

People are switching more and more to poultry meat and eggs instead of pork because the pork price is rising to the delight of companies like San Ha, Ba Huan and Vinh Thanh Dat.

According to experts, the prices of many items have never been so stable as this year as the Covid-19 pandemic caused global demand to shrink.

Many products could not be exported, and so producers and distributors switched their focus to the domestic market, increasing supply.

To sustain demand in this scenario enterprises have had to improve quality and keep prices competitive.

One Commune One Product attracts Tet shoppers

Many products made under a programme called ‘One Commune One Product’ have become a big hit with consumers seeking to buy gift hampers for Tet (Lunar New Year).

Sticky rice grown by the Khau Nua Lech Thuong Quan Rice Cooperative in Bac Kan Province’s Ngan Son District is one such.

The co-operative has had to mobilise a lot of manpower to fulfil the mountain of orders it got.

Its rice is renowned for its plasticity and aroma, and is well known to consumers across the country.

According to a co-operative spokesperson, 100 additional workers were hired for packaging and delivery but demand still not be met.

In the last month or so it supplied more than 10 tonnes of rice to markets such as HCM City and Ha Noi.

Phan Thanh Hieu, director of the Phuong Nam Food Joint Stock Company, said this year, due to the impact of the COVID-19 epidemic, businesses had prepared for low demand, but two high-end products, organic ST 25 and ST 25 rice varieties, grown together with shrimp in Soc Trang Province, are out of stock.

“We have had to turn down many orders or deliver less than the ordered quantity though the rice prices are four to five times higher than that of other rice. ST 25 grown together with shrimp has a price of VND285,000(US$12.4) for 5kg, VND15,000 higher than ST 25.”

Le Kieu Phuong, director of Phuc Thinh Production and Commerce Co. Ltd, said her company recently got a One Commune One Product (OCOP) certificate for its three prawn cracker production lines in Ca Mau Province.

It is now working on selling the products to major supermarket chains before Lunar New Year with the aid of the certificate, she said.

In Dong Nai Province, where more and more people are becoming interested in regional specialties, seven OCOP producers have signed contracts with Central Retail Viet Nam to sell 21 items.

Nguyen Thi Bich Van, media director of Central, said the two supermarkets would design their display shelves to ensure OCOP products easily catch the eye of shoppers as part of a commitment to support them.

MM Mega Market is also selling 56 OCOP confectionery and jam products for Tet at discounts of up to 50 per cent to introduce them to customers.

Do Quoc Huy, marketing director of Saigon Co.op, said the company is helping develop OCOP goods, but their limited production means they could only be sold locally and not across its retail chains.

The two-year-old OCOP programme has helped a number of localities develop a wide variety of agricultural and non-agricultural products, providing steady incomes to many locals.

COVID-19 pandemic continues to ravage travel industry

A resurgence of Covid-19 just before the Tet (Lunar New Year) holiday has hugely impacted travelling, again demonstrating its impact on the tourism industry.

“There has been an immediate impact on the hospitality business with several cancellations across the country, not only in the affected destinations but anywhere with access via an airport,” Mauro Gasparotti, director of Savills Hotels Asia Pacific, said.

“Prior to these local transmissions, the industry was anticipating increased travel demand during and after the Tet holiday, which would have been a good start to the year,” Gasparotti said.

Travel interest is diminishing amid a mist of uncertainty with air travel demand dropping 15 per cent immediately after the news release.

Online flight search demand to Da Nang and HCM City during this peak period of the year dropped 35 per cent and 34 per cent week-on-week respectively, according to OTA Insight.

Some companies immediately enforced travel restrictions, with requests to limit attending events and large gatherings.

This has directly affected MICE (Meetings, Incentives, Conferences and Exhibitions) business in city hotels, where several conferences have been put on hold or delayed.

Drive-to destinations have also been affected by weekend cancellations.

Last year international arrivals to the country numbered just 3.8 million, a 78 per cent decline from 2019.

Domestic traveller numbers fell 34 per cent to 56 million.

Hotels and resorts suffered badly, with many being forced into temporary closure.

Last year occupancy and average daily rates (ADR) both dropped, while revenues fell 70 per cent.

In Ha Noi, the average occupancy was 32 per cent compared to 80 per cent in 2019 while it dropped to 23 percent in HCM City from 72 per cent.

The national average of 62 per cent in 2019 plummeted to just 24 per cent last year.

January started on a positive note, with hotels in key destinations seeing increased MICE and event bookings while at some resorts corporate bookings started to return, Gasparotti said.

“The market in 2021 is expected to be broadly similar to most of 2020, at least until borders reopen to leisure and business trade. Hotels have adapted by considerably reducing operating costs to establish lower breakeven points.

“The good news is that several destinations are still performing at acceptable levels.”

The performance in December and January was positive for destinations like Phu Quoc and Vung Tau, which appeal to both local leisure travellers and year-end company trips.

Some hotels have used promotions, such as ‘staycation’ packages and F&B deals to nurture local demand, which have propped up their numbers.

Fruit and vegetable exports decline by 7.6% in January

Vietnamese fruit and vegetable exports in January endured a drop of 7.6% to US$260 million compared to the same period from last year, largely due to unpredictable developments relating to the COVID-19 pandemic, according to the Ministry of Agriculture and Rural Development (MARD).

The MARD’s Agro-Processing and Market Development Authority stated that China was the leading importer of local fruit and vegetables last year, making up 56.3% of the total market share, although fruit and vegetable exports to this market fell by 25.7% to US$1.84 billion compared to 2019.

Elsewhere, the United States market ranked second with US$168.8 million, followed by Thailand with US$157.2 million, the Republic of Korea with US$143 million, and Japan with US$127.7 million.

Furthermore, January saw the country’s import value of fruit and vegetables enjoy an annual increase of 22.3% to US$140 million, with China, the US, and Australia representing the three largest suppliers to the Vietnamese market.

Moreover, the import value of fruit and vegetables from China in 2020 decreased by 21% compared to 2019’s figures, while imports from the US and Australia witnessed respective increases of 2.3% and 1%.

Due to complicated developments relating to COVID-19, the nation’s fruit and vegetable export activities have been significantly impacted as consumers have changed their shopping habits with several countries also moving to tighten import procedures as a way of securing their borders.

Experts have therefore advised local firms to strive to strengthen their supervision over product quality to avoid violating quarantine regulations, and ensure that food and safety rules are followed as a means of facilitating relevant customs clearance processes.

Acceleration opportunity for Vietnamese AI startups

The AI Accelerator Challenge 2021, organised by VSV Foundation under the auspices of the Ministry of Science and Technology and funded by the Australian Embassy, is officially open for registration.

The AI Accelerator Challenge 2021(AAC 2021) is an acceleration programme specifically designed for Vietnamese AI startups with innovative ideas and products that address the practical needs of the market.

AAC 2021, themed “AI in pandemic – Adapting to the new normal”, has been organised with the goal of identifying, incubating, promoting, and developing potential AI-powered applications in numerous fields such as finance, commerce, electronics, telecommunications, manufacturing, agriculture, healthcare, education, transportation, and smart city development. Participants will have the opportunity to undertake a 4-week online training course, after which the top five teams will be awarded prizes including a service support package worth VND500 million($21,740), a business promotion and mentoring course worth VND200 million ($8,700) and up to VND200 million in seed investment with no equity required.

The programme will assist Vietnam’s economic recovery from the COVID-19 pandemic, as well as help to foster the development of a vibrant AI startup environment. “Vietnam should be very proud of its successes in tackling COVID-19,” said Andrew Barnes, Australian Chargé d’Affaires to Vietnam. “Through sponsoring programmes to promote innovative applications using AI, Australia is demonstrating its strong commitment to assisting Vietnam in overcoming the COVID-19 pandemic, supporting economic recovery, and strengthening its innovation system.”

“The government is trying to implement many activities to cope with disruptions caused by COVID-19, in which innovation and the application of advanced science and technology have been defined as the key to increase the resilience of businesses and the recovery of the economy. AI is one of the core technologies that promise to revolutionise many of Vietnam’s key socioeconomic sectors such as health, education, business, commerce, finance, and agriculture,” Deputy Minister Bui The Duy from the Ministry of Science and Technology (MoST) added.

“We are proud to be a part of this programme,” said Thach Le Anh, founder of VSV Foundation. “AAC 2021 will not only allow Vietnamese AI startups to receive mentoring from top AI technology experts but also support them with business development and fund-raising, including by raising capital from angel investors and leading domestic and foreign venture capital funds. The startups will be able to raise up to VND2 billion ($86,960) after the programme ends.”

This programme is funded by Australia’s flagship Aus4Innovation programme which will disburse AUD11 million ($8.44 million) over four years (2018-2022) to strengthen the Vietnamese innovation system and prepare for Vietnam’s economic and digital future. It is funded by the Australian Department of Foreign Affairs and Trade and managed by the Australian Commonwealth Scientific and Industrial Research Organisation in strategic collaboration with the MoST.

Investors give EVN Genco 2 cold shoulder at IPO

Despite Power Generation Corporation 2 (EVN Genco 2) owning substantial interests in several thermal and hydropower plants, 99.97 per cent of the stake it offered at its initial public offering (IPO) was unmarketable.

The Ho Chi Minh City Stock Exchange (HSX) has published the results of the auction registration for the stake of EVN Genco 2.

The company offered 580 million shares or 48.9 per cent of its charter capital to investors with the initial price of VND24,520 ($1.06) per share and expected to acquire VND14.225 trillion ($618.5 million) from the sale.

However, only 14 investors registered to join the auction, registering 262,500 shares, including 200,000 shares from a single foreign investor, 10,500 shares by five Vietnamese people, and 52,000 shares by eight domestic investors.

At present, EVN Genco 2 owns a 100 per cent stake in Trung Son Hydropower One Member LLC, which operates Trung Son hydropower plant with the designed capacity of 1 billion kWh per year.

It also owns a series of thermal power companies including Pha Lai, Haiphong, and Thac Mo, among others.

According to its financial statement, the company generated 17.8 million kWh, equaling 97 per cent of its plan for the whole year and 7 per cent of the power coursing through the whole national power grid.

The unmarketable IPOs of EVN Genco had precedent because they own too many member companies and subsidiaries. Buying stakes in the plants one by one will help investors limit risks.

Previously, EVN Genco 3 failed in its IPO in February 2018 when only 2.8 per cent of the offered shares was sold.

Vietnam targets 60 – 62 bln USD from agro-forestry-fisheries export by 2030

Vietnam has set a goal of earning around 60-62 billion USD from agro-forestry-fisheries export by 2030 under a project recently approved by the Prime Minister.

The project looks to fully and sustainably join the global supply chain of agro-forestry-fisheries, improve the quality and value of their export to meet regulations of importers, and develop their trademarks in international markets.

Of the figure, 25 billion USD will be from major farm produce, 16-17 billion USD from forestry products, 15 billion USD from aquatic products, 3-4 billion USD from animal husbandry products, and nearly 2 billion USD from others.

Agro-forestry-fisheries export is expected to grow by some 6-8 percent annually. About 40 percent of export will be national brands, 70 percent have their origins traced, and around 60 percent of exports are processed and deeply processed ones.

To such end, the project targets fine-tuning mechanisms and policies to ensure food safety and develop support industry, assisting firms in protecting intellectual property right in export markets, popularising trademarks on domestic and foreign media./.

Central localities seek new development routes amid COVID-19

Central provinces must adjust their socio-economic development goals and strategies to minimise the adverse effects brought by the COVID-19 pandemic and natural disasters in 2020, officials have said.

Nguyen Tan Tuan, Chairman of the People Committee of Khanh Hoa province, said while the province’s tourism industry was hit especially hard, growth in the industrial sector managed to stay positive.

“Since the beginning of the pandemic, we have made it our highest priority to keep the virus in check. Our effort has allowed us to attract a number of foreign investors as they moved from regions hard-hit by COVID-19,” Tuan said.

He said the province has been making use of the downtime to upgrade and invest in its tourism infrastructure, waiting for international tourists to return. In the meantime, Khanh Hoa has started several promotion campaigns to attract domestic travellers.

Meanwhile, Quang Nam made significant gains in developing modern agriculture in 2020 despite being one of the central provinces severely hit by natural disasters last year.

“Agriculture has always been a key priority in our province’s development scheme. During the pandemic, it has become Quang Nam’s economic driver,” said Le Van Dung, Deputy Secretary of the provincial Party Committee.

Dung said with tourism and commerce disrupted because of the pandemic and natural disasters Quang Nam chose to make large investments in industrial projects to mitigate the economic damage to the province in the long run.

Quang Ngai, a traditionally strong economic performer in the region thanks to being home to the country’s largest oil complex the Dung Quat Refinery, has been looking for ways to become less reliant on the oil industry.

Dang Van Minh, Chairman of the provincial People’s Committee, said the province has been working with its partners to set up numerous large-scale industrial parks.

“We want to become one of the country’s best destinations for investments and industrial development. The province aims to build a transparent and healthy business environment to win over potential investors,” said Minh.

Meanwhile, Da Nang, the central region’s main economic hub and the city most affected by the pandemic with nearly 200,000 jobs lost during 2020, said it has set a new course to push for greater digitalisation of commerce, smart city technologies and star ups culture.

“The city aims to diversify its economy. While we still identify tourism and services as major industries we want to see strong development on the fronts of information technology and digitalisation in the near future,” said Nguyen Dinh Vinh, head of the municiapal Party Committee’s Board for Information and Education./.

Cambodia to resume farmed fish import from Vietnam

The Cambodian Ministry of Agriculture, Forestry and Fisheries on February 8 issued a press release on the resumption of the import of aquatic products, including farmed fish, from neighbouring countries, including Vietnam.

The import suspension was announced by the Cambodian side one month ago.

On January 19, Vietnamese Minister of Industry and Trade Tran Tuan Anh sent a letter to Cambodian Minister of Commerce Pan Sorasak, saying Vietnam’s shipments of farmed fish failed to pass through customs and were returned.

The import ban showed signs of running counter to the trade liberalisation spirit of the World Trade Organisation (WTO) and the ASEAN Economic Community, of which both countries are members, he said.

In the press release, the Cambodian Ministry of Agriculture, Forestry and Fisheries said it will continue to collect feedback from the Cambodian Aquaculture Association, importers and exporters, and concerned agencies that are Cambodia’s trade partners to build and recognise technical standards.

Le Bien Cuong, head of the Vietnamese trade affairs office in Cambodia, told the Vietnam News Agency on February 8 that the Cambodian side has shown its goodwill and active response.

Cambodia would consider imposing additional non-tariff technical measures in farmed fish import, including certificates of product origin and quality, he said.

According to the Vietnamese ministry, in recent years, Vietnam has exported about 60 million USD worth of aquatic products to Cambodia annually. Although Cambodia is not a major market of Vietnamese aquatic products, its stable import demand has contributed significantly to cross-border trade development, as well as job creation and income generation for local residents./.

VinFast acquires licence to test self-driving electric vehicles in California

VinFast has just become the 57th automaker to receive a licence to test self-driving electric vehicles in California, the US.

The company said its three SUV models VF31, VF32 and VF33 met the highest global safety standards including five-star ratings from the US National Highway Traffic Safety Administration and the European New Car Assessment Programme.

VinFast has just become the 57th automaker to receive a licence to test self-driving electric vehicles in California, the US.

Automakers, including big names such as Apple, Tesla, BMW, and Volkswagen according to California’s Department of Motor Vehicles website, have also secured their licences to test run their vehicles in the Golden State, the world’s largest technology and innovation hub.

All three of the company’s models are to be equipped with level 2-3 autonomous features, which include 30 smart features divided into seven groups: intelligent steering assist system, lane control system, active journey control system, multi-point collision warning system, comprehensive collision mitigation system, intelligent automated parking system and driver monitoring system.

Models VF32 and VF33 will be sold in the US, Canada and Europe markets from 2022. The launch of high-tech electric vehicles, including electric scooters, electric buses and personal electric cars, is part of VinFast’s pre-defined roadmap since entering the automotive market three years ago.

Customers can start ordering the cars in May this year in Vietnam and in November in the US, Canada and the EU.

In Vietnam, Vietnamese automakers also started to install electric vehicle charging stations at commercial centres at Vinhomes Ocean Park, Vincom Long Bien in Hanoi to serve the first electric cars produced, expected to be available this year.

VinFast sold 31,500 cars in Vietnam last year, with its VinFast sedan and SUV models among the bestsellers in their respective segments./.

Agricultural, forestry, fisheries exports up sharply in January

Vietnam’s exports of agricultural, forestry, and fisheries products grew 27.1 percent year-on-year to 3.49 billion USD in January.

Rubber was the best performer in the opening month of the year, following on from its uptrend last year and totalling 200,000 tonnes worth 321 million USD, increases of 2.2-fold and 2.4-fold, respectively, year-on-year.

Shipments of key forestry products totalled 1.33 billion USD, up 47.8 percent year-on-year. Exports of wood and timber products alone reached 1.25 billion USD, up 48.4 percent.

Fisheries exports rose 19.6 percent to about 600 million USD, following repeated declines last year, especially after the outset of COVID-19.

Prawn exports experienced the highest growth last year among all fisheries items, up 11 percent to 3.7 billion USD.

Several major export earners, meanwhile, declined in January, including rice, fruit and vegetables, coffee, and pepper.

The country exported around 280,000 tonnes of rice for 154 million USD in the month, down 29.5 percent and 20.2 percent, respectively, from a year earlier.

A similar trend was seen in fruit and vegetables, with shipments reaching just 260 million USD, a year-on-year decline of 7.6 percent./.

Da Nang developing supporting industries

The central city of Da Nang has set a goal of developing supporting industries in tandem with high-tech industry to create products with high added value for export.

Under action programme No 01-Ctr/TU issued by the municipal Party Committee on December 10, 2020, the industry-construction sector is to grow by 11-11.5 percent annually between 2020 and 2025.

The municipal Department of Industry and Trade has reported that several large-scale projects in supporting industries have gradually joined the global supply chain.

Since 2016, Da Nang has attracted 24 new supporting industry projects worth over 9 trillion VND, two of which are foreign-invested, with 240 million USD, specialising in manufacturing aviation and automobile spare parts.

Da Nang is now home to around 110 supporting industry firms, accounting for 6.3 percent of all industrial enterprises in the city.

However, the number of domestic companies in the field remains limited, and most are of small scale with average technological capabilities. Meanwhile, foreign firms mostly process and assemble imported materials because the rate of domestically-made items remains low. Links between foreign and domestic businesses, meanwhile, are still less than needed.

General Director of the Long Hau Company, Tran Hong Son, said a number of local companies have yet to meet requirements for being recognised as supporting industry enterprises or manufacturers under Vietnam’s regulations.

He suggested quickly completing planning for an area devoted to supporting industry enterprises inside the Da Nang Hi-tech Park (DHTP) and putting it into operation to attract capable investors.

Head of the management board of the DHTP and industrial parks in Da Nang, Pham Truong Son, said the municipal People’s Committee has completed the planning for a supporting industrial park in the DHTP, which has been submitted to the Prime Minister for approval.

Once approved, Da Nang will outline a list of sectors in need of investment and then set up the park, the first of its kind in supporting industries in the city. Investors in the park would work with those at DHTP to create an industrial ecosystem.

If Da Nang develops supporting industries, investment will also pour into nearby localities, he said.

Under Politburo Resolution No 43/NQ-TW, Da Nang is to be a nucleus of the central key economic region and will develop hi-tech industries and information technology. To this end, Son suggested making the best use of its geographical location, infrastructure, human resources, and supporting industry.

Under the pending plan, the supporting industrial park is to cover an area of over 102 ha in Hoa Vang district, adjacent to the DHTP and the city’s information technology park.

In line with Resolution No 01-NQ/TU from the standing board of the municipal Party Committee, supporting industry enterprises will increase in number by 2030 and be capable of producing highly-competitive products, focusing on spare parts, software, and key services in support of priority industries. The city will also attract multi-national groups to guide and facilitate technology transfer.

By 2025, the city expects to have over 150 supporting enterprises, with at least 10 percent of domestic supporting enterprises being able to supply products to manufacturers. The value of the supporting industry will make up around 30 percent of added valued in the manufacturing and processing sector. At least one multi-national group or company is to invest in manufacturing end products.

Of the more than 300 supporting enterprises to be in business by 2030, at least 15 percent are to be able to directly supply products to manufacturers and assemblers. The value of the supporting industry will account for nearly 40 percent of added value in the manufacturing and processing sector and at least one multi-national group or company will invest in manufacturing end products./.

Source: VNA/VNN/VNS/SGGP/VOV/NDO/Dtinews/SGT/VIR

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VIETNAM NEWS FEBRUARY 10

October 2, 2021 by vietnamnet.vn

Vietnam to raise rate of trained workers to 40 percent by 2030

Workers at a garment factory

Overall, the programme aims to provide a strong premise for comprehensively developing the labour market; effectively mobilising, distributing, and utilising resources to boost socio-economic growth; shift to a modernised labour structure; and promote links between the domestic labour market and those of the region and the world.

Its objectives are to increase the number of workers with labour market-relevant skills and raise the number of trained workers to 30 percent by 2025 and 30-45 percent by 2030.

Under the programme, Vietnam expects to be among the top 60 countries in the Knowledge Workers sub-pillar of the Global Innovation Index (GII) by 2025 and among the top 55 by 2030. The country also sets having 80 percent of its workforce possess IT skills by 2025 and 90 percent by 2030, while reducing the rate of young adults unemployed or untrained to below 8 percent.

To this end, the country plans to improve the relevant legal framework to bolster the development of the labour market; support the development of labour supply and demand, a labour market database, social welfare and insurance, and a specialised labour market; and promote links between the domestic and foreign labour markets.

It will also develop a set of indicators measuring the development of the labour market compared with the regional and global markets, and evaluate the labour gap between regions./.

PM meets medical workers ahead of Tet festival

Prime Minister Nguyen Xuan Phuc has described doctors and health workers as soldiers who stand at the frontline in the fight against COVID-19.

At a meeting with medical workers on the occasion of the Tet (Lunar New Year) holiday on February 9, the PM stressed that the health sector has made direct and very important contribution to the country’s socio-economic achievements in 2020, as part of concerted efforts by the entire political system and people.

The sector has taken drastic actions and coordinated closely with other sectors and agencies during the epidemic combat, he added.

The leader extended thanks and appreciation of the hard work and the sacrifice of all medical workers, especially those who are working in pandemic-hit areas, as well as their families.

The pandemic would develop more complicatedly in 2021 with new variants, he said, calling on the sector to mobilise all resources to contain the epidemic and treat patients.

The health sector must stay ready for any circumstances, and put in place plans for timely supporting localities, building COVID-19 treatment hospitals, and readying medical supplies in case the pandemic spreads on a larger scale, he said.

He required agencies and localities to take practical measures to care for frontline medical workers, especially during the Tet holiday.

The government leader informed that he had signed a decision on allowances for medical workers and others who are engaged in pandemic prevention and control work.

On the occasion, PM Phuc talked online with local officials and medical workers in several pandemic-affected localities and hospitals, giving encouragement and wishing them a happy new year.

From Hai Duong province, Professor Tran Nhu Duong, head of the COVID-19 prevention and control group under the health ministry in Chi Linh town, said as from January 27, Hai Duong has traced 12,000 F1 cases, and collected samples of 75,000 people for testing.

The ministry has also sent many experts and officials, as well as equipment to the locality since the pandemic broke out there, he said./.

Universities provide support to students who stay through Tet

Many university students have received support after choosing to stay through the Lunar New Year or Tet Holiday amid the new virus outbreaks.

Nguyen Phong Dien, deputy director of Hanoi University for Science and Technology, said they would organise events to celebrate Tet with 150 international students who are still staying at the university.

Nguyen Viet Thai from Hanoi Trade University said Vietnamese students had returned to their hometowns but they still have 30 students from Laos and Mongolia staying at the dorms. An activity to make traditional Chung cakes was recently held and they will celebrate Tet with the students on the lunar new year’s eve.

At the Vietnam National University, Hanoi, 13 students who are from outbreak areas and many international students will celebrate Tet in Hanoi. 159 students are staying at Vietnam National University, HCM City, through Tet, including 81 international students.

HCM City University of Technology and Education said they would give 30 Vietnamese students and 19 international students who stay over Tet VND1m each as lucky money.

The Hue University of Education called for students to stay instead of returning to their hometowns this Tet. Students from Gia Lai Province and international students who stayed were provided with the financial support of VND300,000 per person.

The National Economics University has 10 students from outbreak areas staying and the University of Communications and Transport has 3 students from outbreak areas and 72 international students staying.

Antibacterial substances distributed to aid anti-COVID-19 efforts

Prime Minister Nguyen Xuan Phuc has assigned the Ministry of Health to supply 15 tonnes of Chloramine B and 15 million water purification tablets, free of charge, from the national reserves to certain provinces and ministries to serve the COVID-19 fight.

The beneficiaries are Hai Duong, Gia Lai, and Quang Ninh provinces, which are all in the middle of a COVID-19 outbreak, along with the Border Guard High Command under the Ministry of National Defence and the Ministry of Health.

As of the morning of February 8, Vietnam had recorded 2,005 infections, of which 1,115 are community infections, with 422 detected since this latest outbreak hit the country on January 27.

Some 1,472 patients have recovered while fatalities remain unchanged at 35, according to the National Steering Committee for COVID-19 Prevention and Control./.

Over 3.5 billion VND channeled into charity market for Tet

The Central Committee of the Vietnam Red Cross Society (VNRC) channeled more than 3.5 billion VND (153,000 USD) into charity markets opened by its chapters nationwide from January 22 to 31 to support needy people before the Lunar New Year holiday (Tet).

Pham Thi Hoa, a resident in Hanoi, who received assistance from the charity market serving Tet, said her family is poor and gifts from the market helped ease her difficulties.

VNRC Vice President Tran Thi Hong An said these markets for Tet have made a practical support for needy people so that they can enjoy a warm and happy holiday.

Initiated in May last year, the market model is organised on the basis of mobilising resources and supports from the community, in order to serve people in difficult circumstances or severely affected by natural disasters, which hinder them from having enough food and necessities. Due to its high flexibility and practical response, it can run anywhere on a large scale.

The market offers food and household items of good quality and clear origins, with its consumers given coupons worth at least 300,000 VND to shop for their demand.

According to An, in mountainous, border, and island areas with poor transport infrastructure, mobile charity markets have been organised, attracting a large number of participants./.

Lao embassy extends New Year greetings to Vietnamese counterpart in Singapore

Lao Ambassador to Singapore Khonepheng Thammavong on February 8 led a delegation to the Vietnamese Embassy in the country on the occasion of the Tet (Lunar New Year) festival.

At the reception for the Lao delegation, Ambassador Tao Thi Thanh Huong highlighted the special relationship between Vietnam and Laos, as well as the close ties between the two embassies.

She congratulated Laos on successfully containing the COVID-19 pandemic and organising the 11th National Congress of the Lao People’s Revolutionary Party (LPRP), saying Laos is one of the countries with the lowest COVID-19 death toll.

For his part, Ambassador Khonepheng Thammavong expressed his belief that the Vietnam-Laos relationship will grow stronger in the time ahead.

LPRP leaders are delighted at the re-election of Party General Secretary Nguyen Phu Trong as the leader of the Communist Party of Vietnam, he said./.

Vietnamese embassy in South Africa shows strong performance as APC Chair in 2020

The Vietnamese Embassy in South Africa successfully completed its role as Chair of the ASEAN Pretoria Committee (APC) in 2020, contributing to promoting the partnership between ASEAN and South Africa and Africa in general.

Addressing a ceremony in Pretoria on February 8 to take the role of APC Chair from Vietnamese Ambassador to South Africa Hoang Van Loi, Indonesian Ambassador Salman Al Farisi lauded the activeness of Vietnam as the APC Chair in 2020.

He said that Ambassador Loi received the role from Thailand when South Africa was experiencing severe impacts from the COVID-19 pandemic on aspects of life as well as operations of foreign representative offices.

Despite difficulties, the Vietnamese diplomat applied operation methods to adapt to the reality, he noted, adding that Ambassador Loi regularly contacted with APC members and the Department of International Relations and Cooperation (DIRCO) to exchange information on the situation in South Africa and Africa and share experience in COVID-19 prevention and control as well as promote cooperation among parties and optimise opportunities from the African Continental Free Trade Area (AfCFTA).

The Vietnamese Embassy played the role as a bridge linking the DIRCO and the Vietnam’s Foreign Ministry in preparing for South Africa to join the Treaty of Amity and Cooperation in Southeast Asia (TAC).

Under the chair of Vietnam – the ASEAN Chair 2020, South Africa, along with Colombia and Cuba, signed the agreement to join the TAC, opening opportunities on broader and deeper cooperation in politics, economy, socio-culture between ASEAN and the countries.

Ambassador Salman Al Farisi hailed the achievements that Vietnam has made as the ASEAN Chair and a non-permanent member of the UN Security Council, contributing to strengthening the common voice of ASEAN in the international arena, dealing with challenges of the region in a timely manner, and helping to build a Southeast Asian region of peace, solidarity and prosperity.

Ambassador Loi said that in 2020 when South Africa performed the role as a non-permanent member of the UN Security Council and the President of the African Union, Vietnam and South Africa coordinated closely at regional and international forums for the common interest of the international community, Africa and Asia.

The Vietnamese and Indonesian ambassadors agreed to continue exchanging information and experience to help Indonesia fulfil the APC Chair role in 2021.

Earlier on January 27, ASEAN ambassadors in South Africa had an online meeting to evaluate the performance of the committee in 2020 and sketch out plan for 2021.

Vietnam Social Security launches programme to bring warm Tet to poor patients

The Vietnam Social Security (VSS) on February 8 launched a programme to bring a warm Tet (Lunar New Year) festival to poor patients covered by health insurance in central and provincial-level hospital across the country.

At least 1,000 gift packages are set to be presented to the patients with funding raised from VSS staff and donors.

The two-day programme is held in different forms in localities depending on the developments of COVID-19.

Earlier in 2020, the VSS carried out numerous charity activities to support victims of consecutive storms and flooding in the central and Central Highlands regions, including the raising of 1 billion VND for them, along with the provision of electronic health insurance cards for locals in 10 flood-hit provinces.

Last year, the sector collected nearly 11.6 billion VND as donation from its staff and donors to present nearly 73,500 health insurance cards and 940 health insurance record books to the needy./.

Russian official underscores people-to-people diplomacy

Vice Chairwoman of the Russia – Vietnam Friendship Association (RVFA) Regina Budarina has attributed the success of the 13th National Party Congress to the pillars of Party, State, and people-to-people diplomacy.

In a recent interview with Russian news agency Sputnik, Budarina said the results of the congress will contribute to ensuring political stability in Vietnam for the years to come. The Communist Party of Vietnam’s leadership, along with people-to-people diplomacy on the back of State support, have found success in various fields.

She described people-to-people diplomacy as an important external policy resource and an equitable partner of the State in dialogue development and international cooperation, which has helped improve mutually-beneficial ties and raising understanding of the culture, tradition, and lifestyles of citizens worldwide.

Regarding Russia-Vietnam ties at present, Budarina said the two countries marked the 70th anniversary of bilateral diplomatic ties last year. Despite the COVID-19 pandemic, the RVFA still completed important plans, such as holding the fifth junior painting competition and exhibitions on the memory of Vietnamese soldiers in the Great Patriotic War of Russia.

On October 20, the RVFA also held a scientific seminar on the role of people-to-people diplomacy in the development of Russia – Vietnam ties, with 358 Russian and Vietnamese delegates taking part.

It also successfully organised over 60 online trade promotion meetings between Russian and Vietnamese companies seeking partners./.

HCM City leaders pay tribute to fallen soldiers

Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen on February 8 led a delegation to lay wreaths and offer incense at the HCM City Martyrs’ Cemeteries at Khong Ten and Lac Canh hills.

This is a traditional activity of the municipal Party Committee, authorities and people on the occasion of the Lunar New Year (Tet) festival.

Delegates spent a minute of silence, expressing their deep gratitude to heroes and martyrs who laid down their lives for the national independence and reunification.

Immediately after the visits, the delegation offered incense and Banh Tet (round glutinous rice cake) in tribute to Hung Kings – the legendary founders of Vietnam, and Nguyen Huu Canh, who founded the Saigon – Gia Dinh region (present HCM City) in 1698, at the Hung Kings Memorial Park in Thu Duc city.

The delegation also laid wreaths in tribute to President Ho Chi Minh, President Ton Duc Thang at the Ho Chi Minh Museum in HCM City.

On the same day, a delegation of the municipal People’s Council, People’s Committee and the Fatherland Front Committee of HCM City burnt incense to commemorate martyrs at Ben Duoc Martyrs Memorial Temple in Cu Chi district./.

Vietnam Red Cross helping people hit by pandemic, disasters

The Vietnam Red Cross Society (VRC) spent a total of 4.8 trillion VND (209.6 million USD) on humanitarian activities in 2020, a 10 percent increase compared to 2019.

The funds were mobilised from all resources, from organisations and individuals inside and outside of the country to international friends, said Tran Quoc Hung, Vice President of the VRC Central Committee in an interview granted to the Vietnam News Agency.

Its humanitarian activities last year primarily targeted those affected by COVID-19 and natural disasters in the central region.

When the pandemic first broke out in Vietnam, the VRC stepped up dissemination efforts to raise awareness about disease prevention and control measures, and mobilised resources to support medical workers and volunteers on the frontlines of the fight as well as people living in locked-down areas.

It also appealed for support for central provinces hit by storms and flooding.

As an active and responsible member of the International Red Cross and Red Crescent Movement, the VRC also provided support for people in China, the US, India, and Cambodia, with over 800,000 medical facemasks worth 176,000 USD and 30,000 USD in cash sent in response to an International Federation of Red Cross and Red Crescent Societies’ appeal.

The organisation has recently proposed several projects relating to COVID-19 vaccines, through the federation or with partners of member societies.

In 2021, with the pandemic and natural disasters developing in a complex fashion, the VRC commits to effectively organising movements and campaigns and improving external and mobilisation affairs to ensure sufficient resources to carry out its efforts and measures./.

Three ethnic villages in Binh Dinh connected to electricity grid

Three disadvantaged villages in the central province of Binh Dinh have been given access to the national electricity grid as the Tet (Lunar New Year) holiday nears.

Cat, Chom, and Ka Bong villages are in Van Canh district’s Canh Lien commune and home to 300 families from the Bana ethnic minority group.

Invested by the People’s Committee of Van Canh district, the power transmission project cost some 15 billion VND (645,700 USD) from the provincial budget.

The power system comprises a 22 kV transmission line measuring 9.5 km and three transformer stations with a capacity of 50 kVA each.

Secretary of the provincial Party Committee Ho Quoc Dung said the completion of the project bolsters local people’s access to information and enhances production and studies, thereby improving the quality of people’s lives.

On the occasion, a number of electrical appliances were presented to the forest management department and teachers at the Canh Lien kindergarten in the three villages.

Three other villages in Binh Dinh have yet to be connected to the national grid./.

Chinese locality presents medical supplies to Quang Ninh

Representatives from the northern border province of Quang Ninh received medical supplies from Dongxing city and the Guangxi Zhuang Autonomous Region in China at a ceremony held at Bac Luan II Bridge in Mong Cai city on February 8.

The aid included 5,000 personal protective suits, 2,000 pairs of protective glasses, and 1.8 tonnes of disinfectant from Dongxing.

The Guangxi Zhuang Autonomous Region, meanwhile, presented 420,000 surgical masks and 992 bottles of sanitiser.

Quang Ninh is one of Vietnam’s new COVID-19 hotpots. As of the morning of February 8, the province had recorded 47 community infections in this latest outbreak, which began on January 27./.

PM makes pre-Tet visit to Hanoi air defence division

Prime Minister Nguyen Xuan Phuc inspected combat readiness and conveyed New Year wishes to officers and soldiers at Division 361 under the Air Defence-Air Force in Hanoi on February 8.

The PM took the occasion to send his New Year greetings to officers and soldiers on duty in remote and island areas nationwide to safeguard national sovereignty.

He hailed Division 361 for fulfilling the task of firmly safeguarding the air space of Hanoi and consolidating internal solidarity.

The leader asked the whole army, the Air Defence-Air Force in general and Division 361 in particular to stay ready to safeguard border areas, air space, seas and islands of the nation, realise the Resolution adopted by the 13th National Party Congress, and the Resolution by the 11th Congress of the Army’s Party Organisation.

Prime Minister Nguyen Xuan Phuc at the working session with Division 361 (Photo: VNA)

Division 361 must continually improve training quality, maintain close ties with people and well perform mass mobilisation in the new situation.

PM Phuc expressed his belief that on the back of the past achievements, Division 361 will continue overcoming challenges and accomplishing its assigned tasks, thus deserving the trust of the Party, State and people.

Founded on May 19, 1965, Division 361 fought in over 1,800 battles in more than 20 cities and provinces nationwide, shot down 591 enemy aircraft of various kinds, including 35 B52 aircraft. They also contributed to the “Hanoi – Dien Bien Phu on Air” victory in December 1972./.

Cà Mau wants to reduce poverty rate by 0.3 percentage points this year

The Cửu Long (Mekong) Delta province of Cà Mau targets a 0.3 percentage point reduction in the poverty rate this year, according to its Fatherland Front Committee.

Phan Mộng Thành, deputy chairman of the committee, said poor households would be carefully identified together with socio-political and religious organisations, and specific measures would be taken to help every poor and near-poor household escape poverty.

The measures include helping them carry out small trade, breed animals or grow crops, he said.

The number of poor households had reduced from 9.94 per cent in 2016 to 2.25 per cent at the end of 2019, but they still number more than 10,900.

To help the poor household escape poverty sustainably, the Fatherland Front Committee plans to mobilise resources from society through the Fund for the Poor and the Social Welfare Fund for welfare policies.

Each grassroots level branch of all socio-political and other organisations will help one poor or near-poor household escape poverty, or help prevent a newly escaped one fall back into poverty.

Last year more than 3,000 households escaped poverty, exceeding the target set by the People’s Committee by 11 per cent.

Of the 3,000, 2,400 were assisted by the Fatherland Front Committee and other organisations.

Thành said to achieve this, the families were helped with production or business and obtaining soft loans for the purpose.

The Fatherland Front Committee has mobilised more than VNĐ71 billion (US$3 million) for the fund and used it to build 84 rural bridges, build or repair 1,941 houses belonging to the poor, drill 92 wells, give 26,000 gifts and donate nearly 130 tonnes of rice, and provide health checks and medicines for 12,000 poor people since the beginning

The province’s Fund for Supporting Farmers has provided loans worth more than 42 billion ($1.8 million) to 4,600 farmers, helping many escape poverty.

Trần Thị Quyết, deputy chairwoman of the province Farmers Association, said before the implementation of the projects, many farmers faced difficulties such as lack of resources and access to advanced techniques.

But after the projects began many have achieved excellent results and become model farmers.

The participating farmers have co-operated among themselves and with companies, she said.

Their products include blood cockle, rice straw mushroom, clean vegetables, and shrimp farmed using two – stage method with advanced techniques.

The Fund for Supporting Farmers has provided soft loans worth a total of VNĐ300 million ($13,000) to 15 farmers in Phú Tân District’s Việt Thắng Commune for a project to breed blood cockle.

Through the Fund for Supporting Farmers, the province has established 230 co-operative groups, 17 co-operatives and 519 occupation groups.

Around 77 per cent of the province’s population lives in rural areas and 56.7 per cent of its workforce is in agriculture, according to the local Department of Agriculture and Rural Development.

Ethnic cultures, national treasures on display at An Giang Museum

The An Giang Museum in the Mekong Delta province of the same name opened an exhibition on February 9 of the Khmer, Cham, and Hoa ethnic minority cultures and a section preserving five national treasures.

The exhibition showcases the groups’ traditional crafts of beading and brocade weaving and their weddings, folk art, and culinary delights, among other cultural features.

The five national treasures are the Brahma Giong Xoai statue, dating from the 6th-7th centuries, two sets of Linga and Yoni from the 5th-7th centuries, a Giong Xoai wooden Buddha statue from the 4th-6th centuries, and a Khanh Binh stone Buddha statue from the 6th-7th centuries.

Ho Thi Hong Thi, deputy director of the museum, said the exhibition aims to create a cultural space for the public on the occasion of the Tet (Lunar New Year) holiday and attract tourists.

The number of visitors is restricted and COVID-19 prevention and control measures are strictly applied, she said.

Both exhibition spaces are open until February 14./.

Congratulations continue to come for Party General Secretary on re-election

Foreign party and state leaders have sent their warmest congratulations to Party General Secretary and State President Nguyen Phu Trong on his re-election as the leader of the Communist Party of Vietnam Central Committee for the 13th tenure.

The congratulatory messages were cabled by President of the Republic of Korea Moon Jae-in, Chairman of the People’s Action Party of Singapore Gan Kim Yong, Chairman of the Mongolian People’s Party Ukhnaagiin Khurelsukh, General Secretary of the Communist Party of India (Marxist) Sitaram Yechury, General Secretary of the All India Forward Bloc Debabrata Biswas, and President of Communist Party of Bangladesh Mujahidul Islam Selim.

On the list are also the Workers Party of Bangladesh’s Chairman Rashed Khan Menon and its Secretary-General Fazle Hossain Badsha, along with Chairperson of the Communist Party of Sweden Povel Johansson, President of the Communist Party of Chile Guillermo Teillier, Secretary General of Mexico’s Popular Socialist Party Jesus Antonio Carlos Hernandez, several ambassadors and leaders of friendship organisations with Vietnam in foreign countries./.

Party official commends National Institute of Hygiene and Epidemiology on good work

Politburo member and standing member of the Party Central Committee’s Secretariat Vo Van Thuong has commended staff members of the National Institute of Hygiene and Epidemiology (NIHE) for their tireless efforts in COVID-19-related research.

Making a visit to the institute on February 9 on the occasion of the Lunar New Year festival, the Party official affirmed that the NIHE has always fulfilled its tasks in researching and training, especially in the fight against the COVID-19 pandemic.

He noted that Vietnam was one of the first four countries in the world successfully in culturing and isolating the SARS-CoV-2, thus contributing to the development of vaccine for COVID-19.

Leaders of the institute are always the first to arrive at pandemic hotspots and the last to leave after the outbreaks are contained, helping enhancing the quality of medical services at the grassroots level, and people’s trust in the control of the pandemic, Thuong said.

He asked relevant agencies, especially the Health Ministry, to provide the best possible support for the institute to fulfill its tasks.

Health Minister Nguyen Thanh Long said the health sector has done its best in 2020 and has fulfilled the tasks assigned by the Party and the State, contributing to achieving the twin targets of containing the COVID-19 pandemic and maintaining economic development.

The sector will make further efforts in 2021, an important year for reforming the health sector, he promised./.

Embassy updates South African Communist Party on 13th National Party Congress results

The Vietnamese Embassy in South Africa informed the South African Communist Party (SACP) about major outcomes of the recent 13th National Congress of the Communist Party of Vietnam (CPV) during an online meeting on February 9.

The meeting aims to enhance mutual understanding, solidarity and cooperation between the two Parties, and further contribute to promoting left-wing, worker and progressive movements in the world.

It was co-chaired by Vietnamese Ambassador Hoang Van Loi, and Politburo member and head of the SACP Central Committee’s commission for foreign relations Frans Baleni.

Ambassador Loi thanked the SACP Central Committee for extending congratulations to the 13th National Congress of the CPV, saying nearly 370 congratulatory messages and letters sent by parties, agencies, organisations and individuals from 93 countries to the congress are a great source of encouragement and reflect the confidence of comrades, friends and partners in the Vietnamese Party.

The SACP showed interest in the preparations for the congress, including the collection of feedback on draft documents. It also wanted to know more about the role of the CPV Central Committee’s Organisation Commission, personnel training and planning in the Party, the enhancement of female Party members’ role at all levels, and Vietnam’s experience in COVID-19 prevention and control, among others.

The South African officials said Vietnam’s valuable experience will be useful for the SACP in organising its 15th congress slated for 2022.

Over the past time, the two Parties have regularly exchanged high-ranking delegations, cooperated in bilateral and multilateral forums, and shared information about their operation.

In July 2019, Politburo member Pham Minh Chinh, Secretary of the CPV Central Committee and head of the Committee’s Organisation Commission, paid a visit to South Africa, during which he held talks with SACP General Secretary Blade Nzimande to seek ways to boost the bilateral cooperation, friendship and traditional ties./.

Government chief allows enforcement of social distance in major pandemic-hit localities

Prime Minister Nguyen Xuan Phuc has allowed pandemic-hit localities, such as Ho Chi Minh City, Hanoi and Hai Phong to deploy drastic COVID-19 prevention and control measures, including social distancing in an effort to effectively slow the spread of COVID-19.

He also welcomed the decision made by HCM City and Ha Noi administrations to cancel fireworks shows on the forthcoming Lunar New Year’s Eve to limit crowds as a way of preventing the virus transmission to the wider community.

PM Phuc consented to the Ministry of Health’s proposal to intensify COVID-19 testing in high-risk areas, while calling on local residents to refrain from travelling during the Lunar New Year holiday in a bid to help prevent spread of the disease.

He also agreed with the ministry’s proposal to purchase COVID-19 vaccine produced by the AstraZeneca Group and begin injections in the first quarter of the year.

The Ministry of Health and its minister are responsible for selecting partners, vaccines, and those to be vaccinated, with funding coming from the State, Phuc stated.

With regard to COVID-19 update, the Ministry of Health confirmed a further 45 new community cases on February 8 afternoon, including  Quang Ninh (3), Hanoi (3), Gia Lai (2), Ho Chi Minh (25 ), and Hai Duong (12).

The majority of fresh cases came into close contact with coronavirus patients from the nation’s COVID-19 hotspots.

Vietnam has documented 2,050 SARS-CoV-2 infections so far. Of the total, 1,160 are locally-transmitted cases, with 467 detected since the latest coronavirus outbreak hit the country on January 27.

Amid complicated developments relating to COVID-19, Health Minister Nguyen Thanh Long has requested that Ho Chi Minh City apply fresh social distancing measures in some areas following the latest detection of new cases linked to the outbreak at Tan Son Nhat International Airport.

The proposal has come following the southern city recently detecting 25 new cases in the community.

Minister Long said the latest outbreak in the baggage handling area at Tan Son Nhat Airport could have initially occurred a while ago and some people involved may have already been infected and then gone on to recover.

“The outbreak in HCMC was quite complicated and has gone through many cycles of infection; therefore, the source of this outbreak has not yet been determined. This is what makes us very worried,” he said.

The Heath Minister added that even though they did not come into contact with air passengers, the infected airport staff could still have interacted other people in the community. He has therefore asked the municipal administration to take urgent steps aimed at preventing the outbreak from spreading further among the wider community.

Over the past 11 days, the nation has registered 467 domestic cases throughout 12 cities and provinces. Indeed, Hai Duong, and Quang Ninh, top the list of hotspots with 321 and 50 cases, each.

HCM City on full COVID-19 alert, sets up epidemic command centre

As the largest city in the south of the country, Ho Chi Minh City has been requested to establish an epidemic command centre specifically aimed at bringing the metropolis’ latest novel coronavirus (COVID-19) outbreak under control.

He has therefore assigned the Ministry of Health to work closely alongside the municipal administration to promptly establish the command centre.

The PM also permitted HCM City and Hanoi capital as well to impose social distancing measures at a number of selected places that can be judged to be high-risk locations in terms of spreading the virus.

HCM City is on full alert after dozens of cases closely linked to the southern city’s latest hotspot at Tan Son Nhat International Airport were detected. In addition, a further two suspect cases at the airport were also announced on February 9.

Local authorities moved to ramp up epidemic preventive measures to the highest level at the airport and in other sites throughout the city. All passengers and their relatives were required to strictly abide by health recommendations taken against COVID-19 by the Ministry of Health.

Following the most-recent cases, the southern metropolis scrambled to quickly track down and quarantine all individuals who came into contact with COVID-19 patients and their relatives. The HCM City Centre for Disease Control (HCDC) was required to re-test all staff at the airport on a daily basis.

The city has locked down more than 10 residential quarters and blocks of flats across seven districts in an effort to slow the spread of the virus. It decided to suspend all non-essential services, starting from February 9, along with not holding the opening ceremony of the Nguyen Hue Flower Street Festival in the buildup to the Lunar New Year, known locally as Tet.

Experts have warned that with the source of infection yet to be identified, Ho Chi Minh City is at high risk of seeing the virus spread among the community. The number of infections is likely to increase considerably over the coming days.

Ho Chi Minh City has recorded 31 COVID-19 cases since the virus recurred in Vietnam late last month.

Since the latest outbreak, the virus has since spread to 12 cities and provinces nationwide, with 470 cases confirmed so far. At present, the northern province of Hai Duong is still the country’s largest hotpot with 321 cases.

Businesses provide additional support for COVID-19 fight

The Vietnam Fatherland Front (VFF) of Hanoi on February 9 received donations from local businesses as part of contributions aimed at helping with novel coronavirus (COVID-19) prevention and control efforts in the capital.

The donations include VND1 billion from Sun Group, VND1 billion from Him Lam Land Corporation, and VND750 million from Geleximco Group.

During the ceremony the Hanoi VFF chapter also announced cash deliveries to on-duty workers and needy people in concentrated isolation areas.

Nguyen Lan Huong, chairwoman of the Hanoi VFF chapter, showed sincere thanks to doctors and nurses who are on the front line to fight COVID-19, as well as businesses, soldiers, police officers, and people who have come together in an effort to curb the spread of the pandemic.

Source: VNA/VNN/VNS/SGGP/VOV/NDO/Dtinews/SGT/VIR

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