Exporters nite 2019

HCM City (VNS/VNA) - Foreign direct investment in supporting industries is expected to spike in the coming months as more and more foreign companies establish production facilities in Vietnam and seek to develop supply chains here, experts said. HCM City has, for instance, exceeded this year’s FDI target despite the COVID-19 pandemic, racing to more than 591 million USD in the first 10 months, a 7 percent increase from the same period last year, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA). The investment was focused in sectors prioritised by the city government, including supporting industries, Hua Quoc Hung, head of HEPZA, said. Six of the 11 newly licensed foreign companies are in supporting industries, he said. Japanese company Nikkiso Vietnam MFG invested an additional 3 million USD in its medical equipment factory at the Tan Thuan Export Processing Zone to expand production. Other localities in the south have also licensed a … [Read more...] about FDI forecast to flow into supporting industries

The Forest Carbon Partnership Facility pledged to purchase 10.3 million tonnes of carbon dioxide emissions from six northern central provinces of Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, and Thua Thien Hue, at US$ 51.5 million in total, via the Emission Reductions Payment Agreement (ERPA) in the 2018-2024 period, which was recently signed between the World Bank (WB) and the Ministry of Agriculture and Rural Development. … [Read more...] about VIETNAM NEWS DECEMBER 1

Particularly, the 11-month total export and import turnover were estimated at $489.1 billion, up 3.5 percent over the same period last year. Of which, exports reached $254.6 billion, up 5.3 percent, and imports reached $234.5 billion, up 1.5 percent. In November alone, domestic trade rose by 2.3 percent from the previous month and by 8.5 percent from the same period last year. Of which, the retail sales of goods jumped by 13.2 percent. Transport edged up by 2.3 percent in the number of passengers and 5.3 percent in the volume of goods transported over the previous month. Foreign visitors to Vietnam surged by 19.6 percent compared to last month but fell by 99 percent year-on-year because Vietnam continues to carry out measures to prevent and control the Covid-19 pandemic and has not opened international tourism. The total retail sales of consumer goods and services in November were estimated at VND464.4 trillion, up 2.3 percent compared to the previous month and up 8.5 percent over … [Read more...] about Trade surplus hits all-time high of US$20.1 billion in 11 months

According to Vu Duc Thinh, general director of Lazada Logistics Vietnam, opportunities remain equal, although success can be viewed as being different. Although many businesses enjoy the huge potential of e-commerce development, domestic firms face numerous difficulties in terms of the process of transformation, with up to 72% of local small and medium enterprises (SMEs) facing at least four major challenges despite having a digital transformation orientation. … [Read more...] about Digital transformation accelerates online sales target of US$35 billion

Takeaways from the State of the Global Islamic Economy Report 2020/21 will be unveiled at Reimagine: Halal in Asia 2020, providing insights on capturing opportunities in the resilient Muslim market Malaysia (#1) once again tops Global Islamic Economy Indicator for the eighth year. New entrants to the top 15 include Singapore, Sri Lanka, and Nigeria. Travel worst hit while food segment fares the best; global spend on Halal food and beverage forecast to hit US$1.38 trillion by 2024. Investments in Islamic economy-relevant companies totalled US$11.8 billion in 2019/20, a decline of 13 percent compared to the previous year. Indonesia (#1) and Malaysia (#2) ranked ahead in terms of investment activities, while Halal food sector expanded by 219% to $6.3 billion in total deal value. 33 key signals of opportunities identified including: tokenisation of sukuks (Islamic bonds) within Islamic fintech, supply chain shifts, food security investments, nutraceutical demand, domestic tourism, and … [Read more...] about Consumer spending in Islamic economy sectors forecast to rebound by end-2021, market size slated to reach US$2.3 trillion by 2024