The T&T Group on September 21 signed several MoUs and contracts with US partners within the framework of President Nguyen Xuan Phuc’s working trip to the US. At the signing ceremony between firms of Vietnam and the US (Photo: VNA) The Vietnamese firm inked an MoU with UPC Renewables on working together in offshore and nearshore wind and solar power projects in several provinces in Vietnam with a combined capacity of nearly 1,500 MW and total investment of about 2.5 billion USD. T&T Group also sealed two deals in buying animal feed materials totalling 525 million USD. Accordingly, its agricultural arm T&T Agri will import 1.25 million tonnes of materials worth 450 million USD from The Delong Company next year. The other is an agreement in principle valuing at 75 million USD per year also between T&T Agri and US firm Valero. Meanwhile, the group's pharmaceutical arm, T&T Pharma reached a deal worth 23 million USD to be the sole … [Read more...] about T&T Group, US partner reach deal in renewable energy in Vietnam
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Retail consumption - financial services – telecommunications and essential services on digital platforms are estimated to account for 80 percent of the Vietnamese consumer’s wallet. To Masan, the integration of telecom solutions and useful technologies into the ‘Point of Life’ platform will boost consumer benefits by delivering a user-friendly experience and optimal performance. Therefore, Masan recently acquired 70 percent of Mobicast to mark its official entry into the telecom and digital service sectors. This is a strategic step of the company to build a complete ecosystem of its own and transform the retail consumer industry. Why did Masan decide to launch Reddi as a Mobile Virtual Network Operator? MVNOs (Mobile Virtual Network Operators) are wireless communication service providers that do not have their own frequency spectrum allocation or the wireless network infrastructure. MVNOs partner with traditional Mobile Network Operators (MNO) to use their wireless network … [Read more...] about Entering into telecommunications sector, will Masan adopt Reliance Jio model in Vietnam?
Illustrative image (Photo: VNA) Hanoi (VNA) - The ADB has revised down Vietnam's 2021 GDP growth forecast from 6.7 percent to 3.8 percent due to a resurgence of the COVID-19 pandemic that has tightened the labour market, lowered industrial output, and disrupted agricultural value chains, according to a report released by the bank on September 22. At a virtual press conference, ADB country director Andrew Jeffries said the prolonged COVID-19 pandemic and extended lockdowns have weakened consumption and investment, hampering Vietnam’s growth prospects. “But the Vietnamese economy will bounce back if the COVID-19 pandemic is brought under control by the end of 2021 and 70 percent of the country’s population are vaccinated by the second quarter of 2022," he said. ADB remains bullish on the country’s prospects in the medium and long term. Growth could be aided by a revival of domestic demand, an acceleration in the disbursement of public investment, and an expansion to new export … [Read more...] about ADB optimistic about Vietnam’s economic prospect despite slowdown
ADB has reduced its GDP forecast for Vietnam but remains optimistic on its post-pandemic prospects The country’s economy is expected to grow 3.8 per cent this year and 6.5 per cent in 2022, according to the Asian Development Outlook (ADO) 2021 Update . Growth picked up in the first half of 2021, largely because of higher trade volumes, but slowed down in the second half of the year as the fourth wave of the pandemic took a toll on business and the labor market. Inflation will be muted in 2021 and 2022 due to the slower growth. “The prolonged COVID-19 pandemic and extended lockdowns have weakened consumption and investment, hampering Vietnam’s growth prospects," said ADB’s country director for Vietnam Andrew Jeffries. “But the Vietnamese economy will bounce back if the COVID-19 pandemic is brought under control by the end of 2021 and 70 per cent of the country’s population are vaccinated by the second quarter of 2022.” The COVID-19 pandemic is expected to drag down 2021’s … [Read more...] about ADB bullish on Vietnam’s economic growth despite COVID-19 slowdown
HCM City to implement third relief package worth 7.3 trillion VND Ho Chi Minh City will carry out the third relief package worth 7.3 trillion VND (around 320.7 million USD) sourced from the local budget to help more households and informal workers affected by the COVID-19 pandemic, said Vo Van Hoan, Vice Chairman of the municipal People’s Committee. Speaking at a press conference held by the city’s Steering Committee for COVID-19 Prevention and Control on September 20, Hoan said given complicated developments of the COVID-19 pandemic in the city and prolonged social distancing, people face more difficulties due to job loss and having no income. Therefore, in addition to the social security relief packages of the city's Vietnam Fatherland Front Committee and other organisations and individuals, the municipal People's Committee continues to implement the third relief package to help ease difficulties for local residents. According to reports from the People's Committees of … [Read more...] about VIETNAM NEWS HEADLINES SEPTEMBER 21
As more people get vaccinated, the chances for factories to work near full capacity increases. Photo: Le Toan Over the past three weeks Nguyen Thu Ha, a nurse from a healthcare centre in Hanoi’s Ba Dinh district, had to come to the office very early and then ride on her motorcycle to several vaccination spots nearby. “Normally, we have to administer 150 doses a day, but the number has been increased to over 500 doses a day. We begin the work at 7.30am and finish at about 9-10pm without any pause, except for a few minutes for lunch,” Ha told VIR. “All medical staff in Hanoi’s clinics and hospitals have been mobilised to focus on vaccinations as soon as possible and everything has been going very smoothly.” On September 6, Hanoi’s government ordered that all efforts must be made to control the pandemic before September 15 through the testing of the entire population at least once to gradually restore the economy. The city was estimated to have vaccinated 100 per cent of all … [Read more...] about Vaccinations underpinning super-charged recovery aim