The two-way trade between Vietnam and South Korea may amount to US$100 billion this year, instead of 2023 as previously targeted, said South Korean Consul General in Vietnam’s Da Nang City Ahn Min Sik. The South Korean diplomat released his ambitious expectation after reviewing the bilateral trade result of $45 billion in the first half of this year at a seminar held in the central metropolis on Friday. The event, themed “The history of exchanges between and future prospects of the Vietnam - South Korea relationship,” was part of the celebration of the 30-year anniversary of the diplomatic relations between the two countries. Despite the heavy impacts of the COVID-19 pandemic, both countries gained a two-way trade value of $80.6 billion in 2021, much higher than the $500 million recorded 30 years ago, Consul General Ahn said. Considering the ongoing trade growth trend, as shown in the first six months of this year, the bilateral turnover may reach $100 billion in 2022, instead … [Read more...] about Vietnam – S.Korea trade likely reaches $100bn this year: Consul General
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China Homelife exhibition to open in Vietnam for the first time
China Homelife Vietnam has more than 160 leading Chinese manufacturers and suppliers participating in an area of 4,500m2, displaying products in 4 main categories: household appliances, consumer electronics, textiles, building materials- interior. This event will be a commercial rendezvous to help Vietnamese businesses connect with Chinese partners through a combination of face-to-face and online. By this form of combined exhibition, Chinese enterprises still display their latest products at the booth for customers in Vietnam to experience and feel new trends, and at the same time, the online meetings will be conveniently held at the booth to support effective communication and negotiation. Chinese enterprises participate in exhibitions remotely via video conference system to negotiate business online with customers in Vietnam. The exhibition is expected to welcome 4,500 trade visitors and nearly 5,000 business meetings during its three-day opening. China Homelife is a … [Read more...] about China Homelife exhibition to open in Vietnam for the first time
Plastic firms report profit rises in Q2
Inside a Tien Phong Plastic Joint Stock Company factory. The company's revenue increased 38 per cent to VND1.72 trillion (US$73.6 million) in Q2. — Photo courtesy of the company Many plastic enterprises reported increased gross profit in the second quarter of this year thanks to lower raw material prices. Binh Minh Plastics Company (BMP)’s revenue reached VND1.56 trillion (US$66.7 million) in Q2, up 7 per cent year-on-year. The company's profit after tax was 3.5 times higher than in the second quarter of 2021, mainly thanks to the significant improvement in gross profit margin from 12.9 per cent to 25.1 per cent. The business attributed the increase in profit to the decrease in the price of plastic raw materials and unchanged selling prices. Tien Phong Plastic JSC (NTP) also recorded positive business results in Q2. Specifically, revenue increased 38 per cent to VND1.72 trillion ($73.6 million). Gross profit doubled to VND504 billion. Profit margin was 29.3 per cent, up sharply … [Read more...] about Plastic firms report profit rises in Q2
