Global supply chain

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

Meanwhile, Vice Secretary of Hanoi’s Party Committee Nguyen Van Phong presented a report on building and turning Hanoi into a major hub of culture, science, education, economy, and international transactions. Nguyen Hong Linh, member of the Party Central Committee and deputy head of the Party Central Committee’s Commission for Mass Mobilisation, emphasized the need to continue renewing the Party’s mass mobilization work so as to further consolidate people’s trust in the Party and tighten the bond between the Party and people. How to develop the knowledge economy as well as international and practical experience of Ho Chi Minh City in the field were presented by Nguyen Thanh Phong, member of the Party Central Committee, Vice Secretary of the municipal Party Committee and Chairman of the People’s Committee of the city. A report titled “Party and people-to-people diplomacy proactively adapts and promote efficiency in the new context” was … [Read more...] about National development measures proposed at 13th National Party Congress

HCM City (VNA) - Intel had poured an additional 475 million USD into Intel Products Vietnam (IPV), its single-largest assembly and test plant within the Intel Assembly and Test (ATM) network, IPV Chief Financial Officer Alan Danner said on January 27. He made the announcement during a meeting with businesses hosted by Saigon Hi-tech Park (SHTP) in Ho Chi Minh City. This is a new investment following a sum of 1.04 billion USD invested to build a chip assembly and test manufacturing facility at SHTP in 2006, bringing the semiconductor company’s investment in Vietnam to 1.5 billion USD in total. The additional capital was channelled into IPV between June 2019 and December 2020 to bolster the production of Intel’s 5G products, Intel Core processors with Intel Hybrid Technology, and the 10th Gen Intel Core. IPV is an important part of Intel’s production chain across the world, Danner said, adding that the firm will further diversify and improve its activities in … [Read more...] about Intel channels additional 475 million USD into Vietnam

Jakarta (VNA) – Indonesian President Joko Widodo said on January 27 that the country is in need of investments that could generate jobs and competitive products in the global market, and it will prioritise environmentally friendly projects to create enduring values. As Indonesia possesses abundant natural resources, and has opportunities to develop industries such as processing and production, the nation should have a good response to the green economy – an evitable trend in the future which helps reduce environmental risks, and improve the efficiency of the use of natural resources. According to the leader, green products and low-carbon emission economy will be the main resources for the country’s development. Currently, Indonesia is joining the global value chain for the development of a green economy. He noted that the COVID-19 has promoted the green and digital transitions of the global economy, holding developing green economy helps countries worldwide … [Read more...] about Indonesia prioritises environmentally friendly projects

Moreover, the city is drawing up a plan to develop a highly innovative and interactive urban area to the east of the city in association with the establishment of Thu Duc City, which is expected to make up 30%-35% of HCMC’s gross regional domestic product (GRDP) or 7% of the country’s gross domestic product (GDP). … [Read more...] about HCMC proposes seven solutions to develop knowledge economy