Pre series a funding

Son Nguyen – Founder and CEO of Dat Bike

Electric motorbikes have long been seen as inferior to gasoline bikes since they are usually weak and low-ranged, delivering only half the performance of a typical gas bike. Dat Bike is different: its flagship model Weaver is the first and only electric motorbike in the Vietnam market that can rival gas bikes in power and range so that people can switch from gas to electric, without making compromises. The company offers one of the most powerful electric motorbikes in Vietnam with a 5,000W motor that can help accelerate from 0 to 50km/ h in just three seconds. This is not only three times more powerful than other electric motorbikes but also surpasses the performance of most traditional motorbikes. The charging time is also the fastest in the industry at just under three hours and its brake mechanism is also tailored to the traffic situation in the country.

“We want to transform the 250 million gasoline bikes in Southeast Asia to electric vehicles. We believe that if given a choice, everyone would pick electric over gas. It is just that the current electric motorbikes in the market lag behind in power and range, making it difficult for people to make the switch. The fresh funds will allow us to continue to innovate and create the most compelling electric motorbikes for Southeast Asia and the world.” – Son Nguyen – Founder and CEO of Dat Bike shared when speaking about driving more adoption for modes of sustainable transportation.

A Vietnamese native, Son gave up his high paying job in Silicon Valley in 2018 in search of something that can make a bigger impact to his home community – which translated into Dat Bike. Starting with learning to build bikes from scrap parts in his garage, Son then went back to Vietnam and assembled a team of young engineers who advanced from building just one bike per week in their early days to shipping out hundreds per month as of today. Dat Bike also launched its first physical store in Ho Chi Minh City last December, and is growing at 35 percent month-on-month.

About the investment deal, Amit Anand – Founding Partner of Jungle Ventures shared, “This investment into Dat Bike marks our first investment in the mobility sector which is rapidly getting transformed by technology. The US$25 billion two wheeler industry in Southeast Asia in particular is ripe for reaping benefits of new developments in electric vehicles and automation. We believe that Dat Bike will lead this charge and create a new benchmark not just in the region but potentially globally for what the next generation of two-wheeler electric vehicles will look and perform like.”

Son adds, “There are three big motorcycle markets in the world: China, India, and Southeast Asia. While both China and India already have dominant local bike manufacturers, Southeast Asia has no local motorcycle brand and the market is dominated by Japanese players. We want to change that, to become the motorcycle company of Southeast Asia. And electric is our way.”

Dat Bike’s flagship bike, Weaver, is available to purchase on their website and physical store in Ho Chi Minh City for as low as VND39.9 million (US$1,712). As a form of sustainable transportation – Dat Bike’s products contribute to less pollution, exhaust fumes and noise pollution compared to traditional bikes. Individuals could also purchase additional accessories such as leather storage bags, helmets and mudguards on Dat Bike’s website. From bike to gear, everything was designed and manufactured in Vietnam – by the people of Vietnam for Vietnam and the world.

Thu Thuy

More people have been hospitalised in HCM City due to the current hot weather.

Since early this month, the average temperature in HCM City and the southern region has risen to 36-38 degrees centigrade.

Doctor Nguyen Dinh Qui from HCM City Children’s Hospital 2 said that since early March, more children were taken to the hospital. In February, around 4,000 children were hospitalised, but the figure increased to 3,600 in the first two weeks of this month.

Dr. Tang Le Chau Ngoc, head of the hospital’s Gastroenterology Department, said that the ward has around 40-60 patients per day, including 15-20 hospitalised. Among those, 3-5 cases suffer from serious hypohydration. He mentioned a 17-month-old child who faced kidney failure after high fever and diarrhoea.

According to Ngoc, the number of sick children to the hospital could continue rising in the coming days.

The same situation has also been reported at HCM City Children’s Hospital 1, particularly children with respiratory diseases.

Thong Nhat Hospital in HCM City has seen more elderly patients. Nguyen Thi Thoa in District 10 said that she has been faced with dizziness and breathing difficulties. She was suspected of having symptoms of a stroke.

HCM City Hospital of Dermato Venereology said it has also seen more patients with diseases such as allergy and pruritus.

Doctor Nguyen Dinh Qui said that diseases related to digestive, respiratory and skin problems account for the highest rate of patients when the weather is hot. He advised that people should not change environments suddenly. People are advised to pay attention to protecting their health during hot weather.

The hot weather has tended to expand to more localities in the southern region.

Dr. Truong Quang Anh Vu from Thong Nhat Hospital said that the number of elderly people treated at the hospital increases around 5-10% per year.

No new COVID-19 cases to report on March 21 morning

Vietnam had no new COVID-19 cases to report in the past 12 hours to 6am March 21, and the death toll remains at 35, according to the Health Ministry.

As of March 21, 2,198 patients have been given the all-clear. The death toll remains at 35.

Among the patients still under treatment, 37 have tested negative for SARS-CoV-2 once, 18 twice and 63 thrice.

Meanwhile, 37,174 people are being quarantined nationwide, with 490 at hospitals, 17,990 at concentrated quarantine facilities and 18,694 at their accommodations.

Journalism training not allowed at private universities

The Ministry of Education and Training has just turned down proposals from several private colleges to launch journalism training courses this year.

The higher education department under the ministry cited a directive on journalism and publishing management as saying that journalism training should be carried out at local public universities under tight management from the state but not at private institutions.

The ministry asked local universities to strictly follow the directive.

At present, journalism training is being provided at nine public universities including the Academy of Journalism and Communication, the University of Social Sciences and Humanities under the Vietnam National University in Hanoi and Ho Chi Minh City, the Military University of Culture and Arts, the Hanoi University of Culture, the Vinh University, the Thai Nguyen University, the Hue University, and the Danang University.

However, many graduates from private universities are found working in journalism and publishing after studying communications or public relations.

New highway linking HCM City, Binh Duong, Binh Phuoc to be built

A highway connecting HCM City, Thủ Dầu Một (Bình Dương) and Chơn Thành (Bình Phước) will be built in the 2021-25 period under an agreement between HCM City and the Bình Phước People’s Committees on March 18.

The PM agreed that the Bình Phước People’s Committee would monitor the investment process of the project.

Bình Phước has proposed lengthening the highway to 70 kilometres instead of 69 kilometres as planned.

It is estimated to cost about VNĐ36 trillion (US$1.5 billion), including VNĐ17 trillion (US$736 million) from the state budget and VNĐ19 trillion (US$825.7 million) from private investors.

The part through Bình Phước will consist of six lanes sharing the same design as the Đắk Nông – Chơn Thành Highway.

The 1.5 kilometres through HCM City from the Gò Dừa intersection to the border with Bình Dương will be built as an elevated road and cost VNĐ3 trillion.

Another part through Bình Dương costing VNĐ30 trillion (US$1.3 billion) will be 57 kilometers long, of which 28 kilometres will be an elevated highway. There will be 10 overpasses. The last part through Bình Phước with a length of 11.5 kilometres will cost VNĐ3 trillion (US$130 million).

The provinces are seeking State support for capital investment, including clearance costs.

The HCM – Thủ Dầu Một – Chơn Thành Highway will contribute to the national highway network and connect key cities, facilitating socio-economic development in Bình Phước and the Central Highlands provinces, according to the Bình Phước People’s Committee.

HCM City education dept proposes tuition fee subsidy for private primary schools

The HCM City Department of Education and Training has proposed a tuition fee subsidy for students at private primary schools, similar to what is offered at their public school counterparts.

Lê Hoài Nam, deputy head of the department, said the Law on Education allows local people’s councils to provide a tuition fee subsidy for private primary schools if provinces or cities do not have enough public schools.

Under the proposal, the subsidy would be more than VNĐ5million (US$216.5) per student for one academic year, the same as the one for public primary schools.

The department will continue to ask for opinions from other relevant departments before the People’s Committee considers it for approval, Nam said.

The subsidy is expected to help reduce financial pressure on families if their children cannot study at public schools.

It would also help to reduce overcrowding at public schools, which is a barrier to carrying out the new education programme effectively, Nam added.

Forty to fifty students are often in one classroom, but the Ministry of Education and Training’s requirements call for no more than 35 students in each classroom.

With the subsidy, investors will be more willing to pour money into schools, he said.

For the 2020-2021 academic year, the city has more than 25,000 primary students at private schools. Many of these schools are in districts 12, Tân Phú and Gò Vấp where public schools face pressure from student crowding.

A monthly subsidy of VNĐ70,000 would be offered to public primary students who study two shifts in one day. The subsidy is expected to be provided in the 2021-2022 academic year.

Public primary schools in the city currently collect fees of less than VND150,000 for teaching two shifts in one day.

Vietnam to ensure “safety first” with “vaccine passport” scheme

Standing members of the National Steering Committee for COVID-19 Prevention and Control have discussed the preparation of technical and policy solutions to implement the “COVID-19 vaccine passport” scheme while ensuring the principle of “safety first”.

Passport holders will not be quarantined and tested for COVID-19, but some other countries still require testing.

Vietnam is working with countries around the world on the acceptance of the passport through QR codes.

To get the “COVID-19 vaccine passport”, people will provide their personal information when receiving a vaccination, which is checked on a validation system. After two injections, the relevant information is confirmed by a QR code. When going abroad, people’s information will be verified when scanning the QR code.

The Ministry of Health and Viettel are piloting the passport scheme at COVID-19 vaccination centres, to evaluate the capacity and compatibility of these facilities.

Meanwhile, relevant technical infrastructure to receive foreign visitors with COVID-19 vaccine passport is expected to be completed and ready for use from April./.

Domestic medicines to meet 75 percent of demand by 2025

Domestic medicines are expected to meet 75 percent of demand and 60 percent of market value by 2025, according to a programme on the development of the pharmaceutical industry and medicines for domestic production till 2030 with a vision to 2045.

Recently approved by the Prime Minister, the programme set the overall goal of building the domestic pharmaceutical industry to level 4 according to the World Health Organisation (WHO)’s classification, the top 3 in terms of market value in ASEAN, contributing to ensuring the timely and sufficient supply of safe, quality and effective medicines at reasonable prices.

It also targets developing medicines into a quality and high-value industry that is competitive at home and abroad.

By 2025, the rate of using pharmaceuticals of domestic origin will increase by at least 10 percent from 2020.

At the same time, Vietnam will build eight zones for sustainable exploitation of natural medicinal sources, two to five cultivation areas on a large scale. Each of them will have one to two linkage chains of research, farming and processing following the WHO’s Guidelines on Good Agricultural and Collection Practices.

By early 2030, Vietnam sets to become a pharmaceutical production hub in the region with a total value of nearly 1 billion USD.

To such end, the programme also set out measures regarding institutions, laws, investment, competitiveness improvement, science-technology, workforce training, control of medicine and pharmaceutical market, international cooperation and integration, information and communications.

Accordingly, at least two national-level science-technology tasks using the State budget will be performed in three years while at least five ministry-level pharmaceutical development tasks will be undertaken in one year, focusing on research and production of vaccines as well as national products using domestic medicinal sources./.

Vietnamese film about climate change available to rent online

The latest film by Vietnamese famed director Nguyen Vo Nghiem Minh is available to rent on vimeo.com, giving film fans a chance to indulge in the work of the renowned director.

Entitled Nuoc 2030 (2030), Minh’s film is set in a fictional setting in which the south of Vietnam is submerged in water.

The film was featured as part of the InterAsia Water(s) Graduate Conference, 2021 by Council on Southeast Asia Studies at Yale University on March 18. At this conference, the director also joined a Q&A session via Zoom with the audience.

It is not the first time Minh’s film has been featured in a seminar on climate change. In 2016, Nuoc 2030 was the opening film of European Climate Diplomacy Week. The director was also a speaker at a seminar at the event after the film was screened.

Minh is a Vietnamese-American filmmaker based in Los Angeles. He holds a PhD in physics and used to work as a lecturer before focusing on directing.

Nuoc 2030 was completed and premiered in 2013. In 2015, the film was re-introduced in HCM City during the 19th Vietnam Film Festival.

The film was also featured in the 64th Berlin International Festival in 2014.

A combination of various cinematic elements like mystery, romance and drama, Nuoc 2030 is set in the vast and beautiful coastal regions of Vietnam in the near future when water levels have risen due to global climate change.

South Vietnam is one of the regions most affected by climate change, which causes as much as half the farmland to be swallowed by water. To subsist, people have to live on houseboats and rely solely on fishing with a depleting supply.

The story follows a young woman in her journey to find the truth about the murder of her husband whom she suspects was killed by the people of a floating farm.

In the process, she discovers the secret of that floating farm that employs genetic engineering technology to cultivate vegetables that can be grown using saltwater thus can be produced much cheaper. However, this untested technology can have dangerous health consequences for consumers that the farm wants to keep secret.

The women end up finding out different versions of the truth about her husband’s death and has to make a dramatic decision without knowing the absolute truth.

This is the 65-year-old director’s third film after Mua Len Trau (Buffalo Boy) in 2004 and Khi Yeu Dung Quay Dau Lai (Don’t Turn Back When You Are In Love) in 2010.

He received many international accolades and awards for his directorial debut including the New Directors Silver Hugo Award at the Chicago International Film Festival, the FIPRESCI Jury Award at the Palm Springs International Film Festival, and Youth Jury Award at the Locarno International Film Festival./.

Vietnamese-funded new National Assembly Building handed over to Laos

A ceremony was held in Vientiane on March 20 to hand over the new National Assembly Building to the Lao legislature, which is a gift from the Vietnamese Party, State and people.

The ceremony was attended by Vietnamese Minister of Construction Le Quang Hung; Vice Chairman of the Lao National Assembly Somphanh Phengkhammy; and Major General Nguyen Quoc Dung, Commander of the Army Corps 11, the general contractor of the project.

Talking to a Vietnam News Agency reporter at the ceremony, Vice Chairman of the Lao NA and head of the steering committee for the new NA Building project Somphanh Phengkhammy appreciated the efforts of the project’s management board, the investor and related units, particularly the general contractor – Army Corps 11 of Vietnam.

Even though the project has not been completed by 100 percent, the building is ready for use at the first session of the 9th legislature of Laos, which is a very important event when the legislature will not only elect key leaders of the Lao NA and Government but also adopt the ninth five-year socio-economic development plan for Laos.

Vietnamese Deputy Minister of Construction Le Quang Hung said after the first session of the Lao NA, the remaining work will be carried out for the full completion of the project by the end of June.

The Lao NA Building, constructed at a cost of over 111 million USD, will be the venue for meetings of the Lao NA and important ceremonies. It will also serve cultural tours and research trips of the people, students and tourists.

The building is a meaningful present and a symbol of the great friendship, special solidarity and comprehensive cooperation between the two countries./.

Beauty pageant for peace launched in Da Nang

The beauty pageant Vietnam Peace Bella 2021 was kicked off at a press conference in the central city of Da Nang on March 20.

Speaking at the press conference, Nguyen Thi Thanh Thuy, director of the Minh Khang Vietnam Co. Ltd – the organiser, said the contest aims at promoting Vietnamese women’s beauty and selecting Vietnamese representatives for international pageants.

Deputy head of the Da Nang Department of Culture and Sport Nguyen Thi Hoi An said the local authorities target to turn the city into a venue of events and tourism, noting that Da Nang has so far accepted to host five beauty contests, with the Vietnam Peace Bella 2021 being a highlight of the local summer tourism.

According to the organiser, the pre-qualification rounds will take place in late May for the northern and central regions and in early June for the southern region. The finale will take place on July 3 in Da Nang.

A total of 35 contestants will be selected for the final round, and the winner will be awarded with 100 million VND (4,352 USD), with the first and second runner-ups receiving prizes worth 80 and 60 million VND, respectively.

The organiser will donate part of proceedings to lonely elderly people, disadvantaged children and families of revolutionary contributors in Da Nang./.

Efforts to protect Delacour’s langurs in Ha Nam

Since Fauna & Flora International (FFI) discovered Delacour’s langurs in Kim Bang forest in Ha Nam province in 2016, the organisation has joined hands with local authorities to protect the endangered species.

The task force will be responsible for removing traps and tracking wildlife, particularly Delacour’s langurs. It must remain vigilant about wildlife damage and report any cases to forest rangers.

Their efforts have paid off. Indeed, from 40 Delacour’s langurs in 2016, Kim Bang forest is now home to over 100, ranking it second in the world, behind only Van Long Natural Reserve in Ninh Binh province. Ha Nam is also working on establishing a Delacour’s langur reserve in Kim Bang district.

Delacour’s langurs are rare in nature. The animal is among 25 of the most-endangered species worldwide and on the brink of extinction./.

Seller of rare turtles jailed for 10 years

A man in the Central Highlands province of Dak Lak has been sentenced to 10 years in prison for illegally raising and possessing 127 individuals of many rare and endangered turtle species, according to the Education for Nature Vietnam (ENV) .

In May 2020, police raided the house of Hoang Minh Trien, 60, at the alert of local people and found the creatures.

They included the Indochinese box turtle, the black marsh turtle and the elongated tortoise, all endangered species.

Earlier, the ENV’s hotline 1800-1522 received many calls informing that Trien’s son was using social media to illegally buy and sell turtles of many rare species.

All the turtles found at Trien’s house have been sent to the Cuc Phuong Turtle Conservation Centre./.

Hanoi tourism firms adapt after fourth wave of COVID-19

Right after the fourth wave of COVID-19 in the country was put under control at the beginning of March, travel agencies in Hanoi started offering various products at favourable prices to attract tourists.

VGreen Club (of the Hanoi Travel Agents Association) recently launched a driving tour product themed ‘Northwest – Season of Orchid Blooms’, which has attracted 1,000 people after the first trip kicked off on March 12.

VietSense Tourism Company has hosted a group of 100 people for a tour that departed on March 6, while Vietravel branches in the north have sold tours to 300 visitors since the beginning of March.

Inside Hanoi, relic sites have seen a surge of guests in the first days after opening again.

“During the Week of Ao Dai (between March 1 and 8), Thang Long Citadel Complex welcomed hundreds of visitors from all over the country,” said Nguyen Thi Yen, head of the Guide Department of the Thang Long – Hanoi Heritage Preservation Centre.

The Hanoi Tourism Department is planning promotion policies together with airlines and travel agents.

“Promotion policies will not only focus on cutting prices but more importantly focus on the quality of product, services and bring fresh experiences to tourists,” Dang Huong Giang, director of Hanoi Department of Tourism.

Phung Quang Thang, director of Hanoitourist Company, chairman of Hanoi Travel Agents Association, said the association has hosted various training classes for building tourism products with sustainable features.

The VGreen Club established by the association will work with the National Museum of Vietnamese History to host a new product – exploring the culture and history of Hanoi and other provinces.

Nguyen Van Tai, director of VietSense Company, said the company is planning more new tours in March and preparing for the peak season of April 30 – May 1 vacation and summer holidays.

“Our new tours will not only focus on key markets in the central and Central Highland regions but will also bring new experiences to tourists,” Tai said.

In April, the Hanoi Investment, Trade and Tourism Centre will run the Hanoi Tourism Promotion Festival.

The Hanoi Tourism Department will work with Hoan Kiem district, Son Tay town and My Duc district to build tourism products bearing Hanoi’s features.

The first will be ‘Hanoi – 12 Seasons of Flowers’ to draw domestic tourists first and then international visitors when international air routes resume./.

Organisations, agencies in Hanoi donate 12 billion VND to fund for sea, islands

Seventy-three organisations and agencies in Hanoi donated more than 12 billion VND (over half a million USD) to the Fund for Vietnam’s Sea and Islands on March 19.

The donations were collected at the launching ceremony for this year’s first donation drive to collect money for the Fund, held by the Vietnam Fatherland Front (VFF) committee of Hanoi.

Vice Chairman of the VFF committee of Hanoi Nguyen Sy Truong said the warm response to the drive demonstrates that the country’s sea and islands are always in the hearts of Hanoi people.

The fundraising drive aims at raising funds to help build a multi-functional cultural house on Thuyen Chai A Island in Truong Sa (Spratly) archipelago and organize a number of activities to promote the country’s sea and islands.

The drive will last until April 15./.

Hanoi needs to take action to reduce plastic waste

The use of plastic bags and products in traditional markets and shops in the capital city of Hanoi has been on the rise again.

Pham Huy, a small trader at a traditional market in Long Bien district, said plastic bags and products were selling in large quantities in local markets because they were not only cheap but also convenient.

It costs 30,000 (1.3 USD) per roll of 100 plastics bags and 20,000 VND (0.8 USD) for 50 plastic cups, he said.

Huy said the number of people shopping at the market was very large and most of them asked for plastic bags. Few people carried their own bags to the market.

“If we do not use plastic bags, we have nothing to store things for our customers,” he said.

An owner of a food shop in Quan Thanh street, Ba Dinh district, said his customers often asked for takeaway food in plastic containers.

Although he knew the impacts of plastic bags and products on the environment, he still bought them to store food for his customers, he said.

Hong Ha, a resident of Ba Dinh district, said due to the impacts of the COVID-19 pandemic, food and beverage outlets had to close and only sell online.

People often ordered using popular applications such as Grab and Now to eat and drink at home, she said.

The shops often used plastics bags and products to wrap up their wares for shippers to bring to customers, she said.

Plastic bags float on Quang Man sea in Da Nang (Photo: VNA)

The municipal Department of Natural Resources and Environment has urged relevant agencies to strengthen dissemination to improve people’s awareness of the impacts of plastic waste on the environment. The agencies were told to find alternative materials to reduce the use of plastic products.

The department would conduct surveys on the use of disposable plastic products and the demand for recycled products to find alternative products to replace disposable plastic in local traditional markets and trade centres.

The department also compiled mechanisms to support enterprises to manufacture environmentally-friendly packaging.

It was strengthening inspections and encouraging enterprises to manufacture environmentally-friendly packaging and pilot training programmes to improve capacity to design environmentally-friendly products for commercial, service and manufacturing facilities in the city.

According to the United Nations Environment Programme (UNEP), around the world, 1 million plastic drinking bottles are purchased every minute, while 5 trillion single-use plastic bags are used worldwide annually. In total, half of all plastic produced is designed to be used only once and then thrown away./.

Concert features works by 20th-century’s lesser-known composers

A concert introducing works from composers that have not been performed much in Vietnam will take place at Goethe Institute in Hanoi on March 22.

The concert, the first of the ’20th Century Music Concert Series’, will present a repertoire featuring works by composers from Japan to Eastern and Western Europe and America, including Benjamin Britten, György Ligeti, Toru Takemitsu, Nikolai Kapustin, Friedrich Gulda, and Frederic Rzewski.

Artists and lecturers of Inspirito School of Music, including oboist Hoang Manh Lam, trumpeter Yuki Urushihara, pianists Ngo Phuong Vi, Luu Duc Anh, Duong Hong Thach, and Pho Duc Hoang, will perform in the concert.

The concert will start at 7pm. The Goethe Institute is at 56-58-60 Nguyen Thai Hoc street. Recommended donation is 100,000 VND.

Tourism forum aims to seek ways to lure visitors

The Vietnam Tourism Association (VITA) and the Hanoi Tourism Department will jointly hold a national forum on tourism in April in the capital to discuss how to draw tourists in the future.

“While waiting for the opening of doors to international tourists, the tourism sector this year will focus on the domestic market,” said VITA Vice Chairman Vu The Binh.

“The forum will gather tourism enterprises and localities throughout the nation to connect and discuss ways to develop domestic tourism,” he added.

He said some localities have used promotions to try to win customers but in early 2021, a third of domestic travel agencies no longer wanted to exploit international routes and 90 percent of tourism enterprises stopped or reduced their operation scale.

“The tourism sector has run out of power to promote tourism,” he said.

Binh explained that the forum will offer a chance for participants to connect services and create new products to lure visitors.

After the forum, the annual Vietnam International Travel Mart will be held between May 5 and 8.

According to the Vietnam National Administration of Tourism, demand for searching information on domestic destinations has sharply increased recently, especially as Vietnam basically controlled the COVID-19 pandemic. Domestic travel activities have resumed in almost all provinces and cities nationwide.

Though demand for airline information from domestic tourists has not increased much recently according to statistics from the Destination Insights tool by Google, searches for short trips in nearby destinations rose markedly in March.

Binh noted the statistics show that tourists now prefer short trips to near places by their own vehicles and avoid public transportation due to fear of the virus./.

Hue bookcase project debut first publication

A book entiled “Dia chi Van hoa Hue” (Hue culture chorography) has recently been debuted as the first publication of the central province of Thua Thien Hue’s bookcase project on the local cultural and tourist hub – Hue city.

The book is a massive collection of works from experienced cultural researchers, presenting a basis for future selection of books to add to the bookcase, which is planned to have three new publications annually.

At the debut ceremony held on March 17, Chairman of the provincial People’s Committee Phan Ngoc Tho said the formation of the bookcase aims to introduce Hue through books, promote reading culture, introduce valuable publications, create a special gift set of the city, and build a scientific data serving studies on the province.

It will contribute to turning Thua Thien – Hue into a centrally run city of culture and heritage following the Politburo’s Resolution 54-NQ/TW, he stated.

An app of the bookcase is being developed to help its contents reach readers in Vietnam and overseas./.

Advisory board suggests reopening borders to foreign tourists from July

Vietnam could reopen to foreign tourists from this July, a Tourism Advisory Board (TAB) representative suggested, noting that the COVID-19 outbreak has been basically brought under control and vaccination campaigns are underway in the country and many others around the world.

Head of the TAB Secretariat Hoang Nhan Chinh said China, the Republic of Korea, Taiwan, Japan, and ASEAN countries are sources of tourists near Vietnam, and their people go travelling all year round.

The peak travelling season in Japan is March and August, so the pilot reopening could be conducted in July to attract visitors from this market.

Meanwhile, Vietnam could start welcoming back tourists from certain faraway markets like Australia, Russia, and Europe from around October, according to Chinh.

He held that if vaccination is carried out well in Vietnam, especially for the frontline forces, it will provide a good opportunity to attract holidaymakers. Besides, only when international travellers have vaccination certificates should Vietnam open the door to them.

Chinh also stressed that the reopening of borders to foreign tourists needs thorough preparations right from now, and that Vietnam shouldn’t receive international travellers back if it hasn’t been fully geared up.

The country needs to prepare response plans for many different scenarios and build a safe reopening road map, he said, adding that the TAB has sent a letter submitting related proposals to the Prime Minister.

Before the COVID-19 pandemic broke out, tourism had contributed more than 10 percent of Vietnam’s GDP and generated over 30 billion USD in annual revenue./.

Khmer woman prospers thanks to pomelo business

A Khmer woman in the Mekong Delta province of Kiên Giang has started a successful pomelo-growing business.

Thanks to a loan from the Government’s project to support women to start businesses, Danh Thị Kim Ảnh in Phước Ninh Hamlet, Mong Thọ B Commune of Châu Thành District invested in growing green-skin and pink-flesh pomelos and earns hundreds of millions đồng profit every year.

“Previously, my family was so poor. We just lived on planting rice that brought low and unstable income,” Ảnh said.

“Although we had a 4,000sq.m garden, we left it abandoned because we did not have money to buy seedlings,” she added.

After many years of saving, Ảnh bought 20 green-skin and pink-flesh pomelo trees from the neighbouring province of Đồng Tháp to plant.

The results showed that this grapefruit variety suited the climate and soil of the region.

However, she lacked the capital to grow on a larger scale.

In a meeting of the Women’s Union of Mong Thọ B Commune in 2017, she proposed her start-up idea and was provided with a loan of VNĐ50 million (US$2,100) from the Policy Bank under the project to support women to start businesses in 2017-2025.

With the money, Ảnh renovated a 1,000sq.m area of the garden and planted 100 more grapefruit trees.

She was also provided training courses on cultivation and was instructed by agricultural engineers on growing, caring and fertilising techniques to ensure product safety.

By 2020, her pomelo garden was ready to harvest. Ảnh harvested nearly four tonnes of fruits and earned VNĐ180-200 million (US$7,000 – 8,600) of turnover, of which the profit was VNĐ100 million ($4,300).

After gaining the profit, Ảnh planted 200 more trees to cover the 4,000sq.m garden.

“Recently, Châu Thành District’s Women’s Union approved a loan worth VNĐ100 million from the Vietnam Bank for Social Policies for me to invest in renovating the irrigation system which helped the pomelo grow better,” she said.

It is expected that in the next two years, when 4,000sq.m of the pomelo garden brings a steady harvest, Ảnh’s family will earn VNĐ300-400 million ($13,000-17,000) per year.

Ảnh’s pomelos have received good reviews from clients because they are so juicy and sweet.

Ảnh used the loans effectively to develop her business, said Huỳnh Thị Ngọc Vàng, deputy president of Mong Thọ B Commune’s Women’s Union.

“She had a clear start-up orientation and was always industrious and diligent,” Vàng said.

“Importantly, she complied with cultivation techniques and processes so she achieved high economic efficiency,” she said.

“Ảnh’s successful model motivated local people to learn and follow. At present, many households have applied Ảnh’s model and earn stable incomes and this has helped them escape from poverty,” she said.

Speaking about her initial success, Ảnh said: “To achieve success in starting my own business, I had to work hard, with burning passion and spirit to overcome difficulties.”

“In my experience, women needed to know what they are passionate about to have a suitable entrepreneurial direction,” the Khmer woman said.

“Once pursued, it is necessary to work hard, persevere and constantly learn from other people,” she said.

Tien Giang expands crop-rotation cultivation, improves productivity

The Cửu Long (Mekong) Delta province of Tiền Giang plans to expand rotation cultivation models for rice and other crops in its eastern area in an aim to improve productivity and cope with natural disasters, its Department of Agriculture and Rural Development has said.

The eastern area, which includes Gò Công Đông and Gò Công Tây districts and Gò Công Town, accounts for 28 per cent of the province’s total area and has advantages in fruit orchards and marine economy, but faces saltwater intrusion and drought in the dry season.

Nguyễn Văn Mẫn, director of the department, said the province plans to focus on growing more vegetables and other short-term crops to 2025 in the eastern area. Only two rice crops a year will be grown, while rice and other crops on rice fields will be rotated.

Under the plan, the province will transfer advanced farming techniques and encourage farmers to use Vietnamese good agricultural practices (VietGAP).

Co-operative groups as well as co-operatives will be expected to continue to work with companies to secure outlets for their members.

Gò Công Đông District, one of the major producers of rice and agricultural products in Tiền Giang, has 10 agricultural co-operatives that have contracts with companies.

This has helped secure outlets and provide stable incomes for their members.

Nguyễn Văn Nhẫn, director of the Tăng Hoà Agriculture Service Co-operative in Gò Công Đông District’s Tăng Hoà Commune, said the co-operative for many years has had contracts with companies to produce rice seeds and high – quality rice.

The co-operative produces high-quality rice on 50ha with an output of 250 tonnes a crop, he said. Companies purchase its rice at a price of VNĐ300 a kilogramme higher than the market price, he said.

The Tân Đông Clean Vegetable Co-operative in Gò Công Đông District’s Tân Đông Commune is growing clean vegetables on a total of 30ha with a daily output of 2.5-3 tonnes, using advanced farming techniques.

Trần Văn Bương, chairman of Tân Đông Co-operative, said the co-operative will encourage members to apply more advanced techniques to produce clean vegetables under VietGAP standards.

The co-operative will also encourage its members to expand the use of hydroponic farming, net houses and poly-green houses to grow vegetables.

Nguyễn Văn Qúi, head of the Gò Công Đông Bureau of Agriculture and Rural Development, said the district has two concentrated clean vegetable growing areas in Bình Nghị, Tân Đông and Tân Tây communes.

The two areas are guaranteed outlets by three agricultural co-operatives – the Bình Nghị Clean Vegetable Co-operative, the Tân Đông Clean Vegetable Co-operative and the Tân Tây Agriculture Service Co-operative, he said.

The three co-operatives have contracted with farmers to buy vegetables and later sell them to supermarkets and wholesale markets in and outside the province.

“Farmers in the concentrated clean vegetable growing areas now feel more secure about their products,” he said.

All communes in Gò Công Đông have agreements between companies, cooperatives and farmers to secure outlets for rice, vegetables and fruits for co-operative members.

To mitigate the impact of saltwater intrusion in the dry season this year, farmers in the eastern area have switched to growing vegetables or short-term crops on 2,700ha of rice fields that have problems accessing irrigation water.

In the ongoing 2020-21 winter-spring crop, farmers in the eastern area have planted more than 11,500ha of various types of vegetables and other short-term crops, which offer higher profit than high-quality rice, according to the department.

Farmers who grow leaf vegetables can earn a profit 2.6 times higher than that from high-quality rice.

Phong Nha-Ke Bang National Park tops hospitable destination list

Phong Nha-Ke Bang National Park in the central province of Quang Binh leads the way in terms of the most hospitable destinations nationwide, according to the annual Traveler Review Awards recently announced by travel website Booking.com.

Coming in behind Phong Nha-Ke Bang National Park is Hoi An city in Quang Nam province, followed by Ninh Binh province, Sa Pa town in Lao Cai province, and Mai Chau district in Son La province.

The Traveler Review Awards is part of renowned travel website Booking.com and is held with the aim of recognising the hospitality of each location and is based on the ratings given by travelers following their vacation.

This comes as Phong Nha-Ke Bang National Park was ranked 15th position in a list of the most popular national parks as voted on by TripAdvisor last year./.

First refill station in Hội An strives to reduce plastic waste

To stop people throwing away empty glass or liquid bottles, a shop in central Viet Nam is offering refills to help protect the environment and give containers a new cycle of life.

Refillables Hoi An is located in Cẩm Thanh Commune, Hội An City and sells eco-friendly products without packaging by refilling containers.

Hội An City in the central region of Việt Nam’s Quang Nam Province, home to the UNESCO World Heritage Site of Hội An Ancient Town, is aiming to become a green destination for tourists by 2025 and to reduce the single-use plastic waste. Refill stations established by local businesses are contributing to that goal.

The concept of refill stations has become familiar in big cities like Hà Nội and HCM City in recent years but in the central region, Refillables Hoi An is the first of its kind.

Two years ago when Alison Batchelor, an expat in Hội An, opened the shop, the first products she introduced were chemical-free dish soap, hand soap and floor cleaners made from natural ingredients.

The soap containers lead to a lot of plastic waste as customers have to buy them over and over again, so Batchelor thought she could cut down on that waste.

She partnered with a company in Đà Nẵng which makes those soaps from fermented organic waste and stocked them in her shop.

Over the past two years, Refillables Hoi An has welcomed customers including local residents, both Vietnamese and expats, service providers and even schools to refill dish soap, floor cleaners and hand soap. More than 13,000 containers have been refilled so far.

Many hotels, restaurants and coffee shops such as Nourish Eatery, Urban Fresh, Market Bar and Mùa have borrowed containers from Refillables Hoi An, had them refilled with soap and returned them to Refillables Hoi An when the liquid runs out. Most of them continue to refill over and over again.

Lê Thị Ánh Dương, a waitress at the Nourish Eatery in Cẩm Thanh Commune, said: “Our coffee shop refills containers once every one and a half months because we order quite a lot each time. We often have dish soap, liquid detergent and vinegar refilled. We refill 10 litres of dishwashing liquid each time.”

“We chose Refillables Hoi An because of their good quality products. The dish soap made from natural ingredients does not harm our hands. Dishes cleaned with the soap are very clean.

“After using all detergent liquid in the refilled bottles, we return the bottles to the refill station and avoid throwing them to the environment. It’s pretty economically efficient and helps reduce costs for our shop.”

While a lot of companies, shops, coffee shops and restaurants in Hội An had to be closed during the height of the COVID-19 outbreak in the region, Refillables Hoi An maintained its operation as a sustainable business, encouraging people to recycle under the motto of “refilled not landfill”.

“It’s been really amazing as more people are finding the time to come here and bring their containers and recognise that they are not more expensive, in a lot of cases, are cheaper than what we’ve been paying.

“They can come, refill, help the environment and find products better for their health,” said Batchelor.

“Obviously at some point, those containers will get to the landfill whether they are broken or just at some point along the way, someone throws it away. But by refilling it, even one time, that’s saving one more container from going into the landfill,” she told Việt Nam News.

“The container that’s brought in to be refilled can be anything from a small-sized bottle of essential oil. It can also be up to a 30-litre container,” Batchelor said.

“We do prefer glass containers because glass containers tend to have a longer lifespan. But we do also encourage people to continue using plastic containers they have because they are still quality containers. By sending it prematurely or sending it before it’s broken, we are just adding more and more plastic unnecessarily to the landfill that is already overflowing. So just keep using it until it breaks.”

Return to the earth

Holding a handful of soapberry in her hand, Alison said the berry came from the lychee family and could be used as detergent.

“You can put them into a bowl of water and start seeing bubbles. Take 12 of them and put them in a mesh bag and then into a washing machine, they can clean your machine as detergent.

“Take 15 of them in five cups of water and boil in 45 minutes, you can get concentrate liquid used as detergent, simple surface spray or floor cleaner. With five cups of liquid, you can have 4-4.5 cups of concentrate, which costs about VNĐ15,000, simple and cheap,” she said.

“Squeeze it, if you still can see the bubbles coming out, it still has life. If not, put it into the garden, compost it, and make it return to the earth. Then you don’t cost any plastic waste or chemical waste to the community.”

“We are targeting the middle to lower financial demographic of the community, which means everybody can afford to come to refill.”

“If somebody can come in, I’m not saying a sachet costs from VNĐ3,000 to 5,000. They can come here with their container and they can use that VNĐ3,000-5,000 and they can get more product than they would in that sachet. So we can start helping the community by managing their money, better in getting more for their money,” she said.

Besides home and personal care products, Refillables Hoi An also refills dried food and seasoning like pepper, Himalayan pink salt, nuts, rice, organic cinnamon, ginger, turmeric powder as well as ingredients for eating clean like chia seeds, oats, quinoa.

During the pandemic, people have more time to explore do-it-yourself (DIY) products for their skin or hair. Many customers have come to refill baking soda, coconut oil and essential oil for their DIY products.

“It can be far more cost-effective than buying something at the shop,” Batchelor said.

As Batchelor’s store is the first refill station in Hội An and there are few others in the central region, she said she wanted to promote community outreach and work with the community and Women’s Union to try to create different products with them and distribute eco-friendly products to smaller refillable stations in the town and expand the refilling model in the region.

“As we’ve seen more refill stations opening up across Việt Nam, I think it can really have an incredible impact. We definitely feel refilling is one aspect that we can provide to the community and it’s only one aspect of the solution for Hội An to become a zero-waste city,” she said.

Vietnamese translators honoured for boosting cultural ties with Kazakhstan

Kazakhstani Ambassador to Vietnam Yerlan Baizhanov has awarded Certificates of Merit from the Ministry of Culture and Sports of Kazakhstan to Vietnamese writers and translators in honour of their contributions to cultural co-operation between the nations.

According to information released by the Kazakh Embassy, translators Toan, Nghiep, and Man have contributed to increasing and developing cultural links between both sides through their involvement in a project aimed at translating the literary work “The Book of Words” of Abai Kunanbayev. This individual is renowned for being a philosopher, poet, civilizer, composer, and the founder of the new culture of the Kazakh nation.

Furthermore, Toan is a famous translator who has translated many literary works from Russian into Vietnamese. At present he is the director of the Fund for the Promotion of Vietnamese Literature and Russian Literature under the Vietnam Writers Association.

Teacher Khoi has also made contributions to the development of links between the two countries, as well as promoting the legacy of Kazakhstan’s sage-scholar Al-Farabi.

As an outstanding teacher, Khoi was formerly Dean of the Russian Language Department of Hanoi University of Languages and International Studies.

The awards ceremony took place on the premises of the Embassy of Kazakhstan in Hanoi to mark the the occasion of Kazakhstan’s traditional New Year Nauryz Meiramy. The event featured the participation of President of the Vietnam Union of Friendship Organizations (VUFO) Nguyen Phuong Nga, Russian Ambassador to Vietnam Konstantin Vnukov, and Armenian Ambassador to Vietnam Vahram Kazhoyan.

Kazakhstani Ambassador Baizhanov also gave a presentation to introduce traditional Kazakh instruments, various folk music genres of the Central Asian nation, and some folk and modern songs that are native of Kazakhstan.

Kazakhstan and Vietnam moved to officially establish diplomatic relations in 1992, with the Vietnamese side opening an embassy in the capital Astana, now renamed Nur-Sultan, in 2008. Following this, Kazakhstan opened an embassy in Hanoi in 2013.

In terms of foreign policy, Ambassador Baizhanov stated that both nations share many similarities, such as having good relations with global powers as well as with their neighbours.

Wanted Korean suspect arrested in Hanoi

Police forces operating in Hanoi have arrested a Korean man who is wanted by Interpol for committing telecom fraud.

The 32-year-old suspect has been as named Kim Changhook and is a member of a group running a telecommunication scam in China.

The group were making random calls to Korean victims during which they pretended to be staff members of KB Bank and offered loans with low interest rates. Their aim was to entice the victims into transferring money to their bank accounts.

The nation had been asked to co-operate with Interpol’s investigation in an effort to find the suspect as police forces had noticed that he had gone on the run to foreign countries after being charged.

The Korean suspect was successfully arrested after being detected hiding at his half-brothers’ aprartment in My Dinh ward of Hanoi.

Police in the capital then handed over the Korean suspect to Korean authorities at Noi Bai International Airport on March 18.

Three people arrested for plans to sell baby in China

Police forces in Quang Ninh province have announced the arrest of three individuals after they attempted to smuggle a newborn baby into China for the purpose of selling the child for profit.

Three suspects are arrested by Quang Ninh police for plans to sell baby in China

The arrests of the trio came following co-operation between border guards in Quang Ninh province and the Police Department for the Investigation of Drug-Related Crimes.

The three individuals include Vu Ngoc Anh, born in 1963, and Nguyen Thi Thuong, born in 2002, both of whom reside at No.88 Yen Phu street in Yen Phu ward of Ba Dinh district in Hanoi. In addition, Hoang Van Thanh, born in 1992, of Quan Son in Chi Lang district of Lang Son province was also arrested.

This discovery came following border forces spotting three suspicious people carrying a newborn baby across the border into China.

Furthermore, a total of 50 grams of white power and 70 pink pills which were believed to contain heroin and drugs were also found stashed inside Thanh’s luggage.

Upon being questioned at the police station, the suspects admitted to purchasing the baby for VND15 million from a 19 year-old woman residing in Dong Minh commune of Tien Hai district in Thai Binh province.

At present, the police will continue to investigate the case.

Source: VNA/VNS/VOV/VIR/SGT/Nhan Dan/Hanoitimes

Signing of deal between GoStream and VinaCapital Ventures

GoStream, founded in 2017 by three engineers with track records in digital enablement, is a livestream support software. It allows users to livestream from pre-recorded videos and from different camera sources and broadcast them at the same time on social networks like Facebook, Twitter, Youtube. Users can also livestream from anywhere by installing the GoStream app on their mobile phones without using a computer.

GoStream co-founder Nghiem Tien Vien said livestreaming on social networks is increasingly popular and attracts a large number of followers. Many brands and manufacturers regard livestream as a promotion channel to boost sales. However, creating an attractive livestream requires a professional studio, equipped with expensive equipment such as cameras and mixers, which only large enterprises can afford. GoStream, on the other hand, enables livestreaming anytime and anywhere using simple devices such as laptops, webcams and smartphones.

Co-founder of GoStream Nghiem Tien Vien

GoStream says its software offers a high degree of interactivity and quick share and spread capacity. It allows sellers to easily create online sales channels similar to the low-cost Shopping TV model (from VND100,000 per month or more) based on the infrastructure of popular social networks like Facebook, Youtube and Twitter. In addition, GoStream can help media companies create brand communication campaigns through live talk shows and gameshows with viewers, as well as creating virtual classrooms on the internet through online training.

Among top 30 platforms

“The application currently has more than 700,000 users, of those 10,000 users are making livestream sales every day,” Vien says. “In 2019, GoStream was listed by Facebook among the 30 most used platforms for livestreaming in the world within 30 days.”

In November 2020, GoStudio, a product of the GoStream Technology Joint Stock Company, won first prize at Vietnam Techfest for its ease-of-use and adaptability to a range of online channels, including livestream commerce, online training (e-learning), and online entertainment (live gameshows). These features were especially important in the context of the Covid-19 pandemic and its forced social distancing and isolation.

The company will represent Vietnam at the Startup World Cup 2021 competition in the US. Before winning the Techfest 2020 championship with its VND200 million prize, GoStream was one of six startups introduced at US Techfest 2019, receiving seed funding from VinaCapital Ventures and then investment by Zone Startups Vietnam.

VinaCapital Ventures CEO Hoang Duc Trung said GoStream is a leader in integrating live streaming across a number of sectors. Its innovative streaming technology is helping more businesses reach more viewers and attract more potential customers. The cooperation with VinaCapital Ventures will help GoStream expand and play an even greater role in Vietnam’s growing digitalization.

Although GoStream has not disclosed the value of the investment from VinaCapital Ventures, at the 2020 TechFest Vietnam the startup completed its series A funding worth US$1 million. Previously, it received US$200,000 in seed funding from VinaCapital and the startup accelerator program Zone Startups Vietnam.

Launched in 2018, VinaCapital Ventures is a US$100 million technology investment platform investing in the next generation of promising Vietnamese and Southeast Asian startups. It is part of VinaCapital, one of Vietnam’s leading asset management companies with over US$3.3 billion.

Hai Yen

The Ministry of Industry and Trade (MoIT) has issued Decision No. 947/QD-BCT on launching an anti-dumping investigation into some types of welding material products originated from China, Thailand and Malaysi.

The materials subjected to the investigation belong to the following HS codes: 7217.10.10; 7217.30.19; 7217.90.10; 7229.20.00; 7229.90.20; 7229.90.99; 8311.10.10; 8311.10.90; 8311.30.91; 8311.30.99; 8311.90.00.

According to the law, after initiating the investigation, the ministry will send questionnaires to relevant parties to collect information so as to analyse and evaluate the situation. If necessary, based on preliminary investigation results, the ministry may apply temporary anti-dumping measures to prevent losses for domestic production.

Along with information verification, the ministry will organise public consultations so that relevant parties can discuss and provide information and have a voice in the issue before giving out final conclusion.

At the same time, the ministry recommends all organisations and individuals that are importing, exporting, distributing, trading and using the investigated products to register as related parties and provide necessary information for the ministry to protect their legitimate rights and interests.

Besides, the ministry may apply retroactive anti-dumping duty on products subjected to taxation within 90 days before the imposition of temporary anti-dumping duty.

Therefore, the ministry recommended that organisations and individuals in the process of signing contracts for importing, distributing, trading and using goods under investigation should pay attention to the possibility of being subject to temporary anti-dumping and retroactive anti-dumping taxes.

Vietnam ranks 96th on global sustainable tourism list

A Euromonitor International report ranked Vietnam as 96th of 99 countries for sustainable tourism.

The report analysed seven aspects of sustainable tourism, including environmental, social and economic sustainability, country risk, and sustainable tourism demand, transport and lodging.

Globally, Sweden was ranked the most sustainable destination for travel, followed by Finland and Austria. Rounding out the top five were Estonia and Norway.

The research firm predicted there would be growing awareness among consumers, businesses and governments to prioritize the planet alongside people and profit when global tourism resumes following travel restrictions amid the pandemic.

Some popular tourist destinations in Vietnam have been eyeing sustainable tourism development. For instance, Hoi An in central Vietnam is restricting the use of single-use plastic items and plastic bags as it looks to boost sustainable travel growth.

Vietnam becomes 10th largest supplier of wooden furniture to French market

With France moving to increase its wooden furniture imports, Vietnam has become the 10th largest supplier of this product to the fastidious market, according to data released by Eurostat, the statistical office of the European Union.

These statistics show that the European country imported 1.08 million tonnes of wooden furniture worth a total of US$3.75 billion last year, posting a decline of 6.8% in volume and 6.9% in value compared to figures recorded in 2019.

According to the Italian Centre for Industrial Studies, France represents an important part of the furniture sector both in Europe and globally, making up the second largest import market in Europe.

Most notably, France has always been a key Vietnamese trading partner within the EU, with the country making up the Southeast Asian nation’s fourth largest export market in the bloc.

Furthermore, the nation is the 10th largest supplier of wooden furniture to the French market, accounting for only 3.2% of the total import volume, a relatively low figure in comparison to import demand within the fastidious market.

Trade experts have therefore advised Vietnamese firms to seize upon the various opportunities brought about by the EU-Vietnam Free Trade Agreement (EVFTA) in order to boost their export of furniture products to the French market in an effective manner.

At present, China remains the largest supplier of living room and dining room furniture to France, followed by Poland, Italy, Belgium, Spain, Portugal, and Vietnam.

With the country being the fifth largest supplier of wood frame chairs to France, it is trailed by China, Italy, Romania, and Poland. However, the import volume and value of Vietnamese wooden framed chairs endured a downward trajectory last year.

HCM City helping RoK businesses to tackle difficulties

The People’s Committee of Ho Chi Minh City, in collaboration with the Consulate General of the Republic of Korea (RoK), for the first time organised a dialogue between city leaders and RoK enterprises on March 25 to help them deal with difficulties in investment and business.

Chairman of the municipal People’s Committee Nguyen Thanh Phong told the dialogue that since diplomatic ties were set up in 1992, Vietnam and the RoK have seen rapid development in bilateral relations, becoming strategic cooperative partners in 2009.

Economic cooperation has always been an important pillar in the bilateral relations, and the RoK has been a key economic partner of Vietnam for many years.

As of the end of 2020, the RoK had over 8,900 valid investment projects in Vietnam totalling 70.65 billion USD, ranking it first among 139 countries and territories investing in the country, in terms of both capital and project numbers.

Last year, the RoK was Vietnam’s third-largest trading partner, with two-way trade hitting 66 billion USD.

For HCM City, the RoK was the fifth-largest export market and third-largest import market, with turnover reaching 1.8 billion USD and 2.8 billion USD, respectively.

In the first two months of 2021, the city and the RoK saw two-way export and import value of 366 million USD and 701 million USD, up 30.3 percent and 47.3 percent year-on-year, respectively.

Addressing the dialogue via videoconference from Hanoi, RoK Ambassador to Vietnam Park Noh-wan said his country’s enterprises always pay attention to and hope to participate in large-scale infrastructure projects, such as the city’s smart city planning and the Long Thanh International Airport project.

Kim Heung Soo, President of the Korean Business Association in Vietnam, proposed simplifying and improving administrative procedures related to foreign investment.

Simplifying administrative procedures can help reduce time and costs for businesses, thus contributing to directly increasing business competitiveness, improving the city’s business and investment environment and attracting more foreign investment, Kim said.

Phong requested local departments and sectors collect ideas and recommendations from RoK for submission to higher levels for settlement./.

Binh Duong holds trade promotion event to attract Thai investors

Authorities in Binh Duong province, in collaboration with Becamex IDC – a leading developer of industrial, urban and transportation infrastructure in Vietnam – held an online conference on March 25 to promote Thai investment in the southern province.

Despite COVID-19, foreign capital poured into the province in the first three months of 2021 exceeded 400 million USD.

Boasting an attractive and open business climate, the accumulated number of FDI projects in Binh Duong as of the end of February neared 4,000 worth close to 38.8 billion USD. As such, the province ranked third nationwide in term of FDI attraction, just behind Ho Chi Minh City and Hanoi.

Thailand has so far injected over 647 million USD in 39 projects in Binh Duong, making it the 12th-largest of 65 countries and territories investing in the province. Thai investors have a preference for producing high-quality plastic products and industrial plastics, and for manufacturing and assembling civil electrical products.

Sanan Angubolkul, President of the Thailand-Vietnam Business Council and Vice Chairman of the Thai Chamber of Commerce, said Binh Duong’s dynamic growth has long been on the radar of the Thai business community.

Nguyen Thanh Truc, Vice Chairman of the provincial People’s Committee, highlighted that there is tremendous space for investment cooperation between Binh Duong and Thailand to grow, adding that local authorities always create favourable conditions for Thai investors./.

Khanh Hoa promotes cooperation with Indian businesses

The leader of the south-central province of Khanh Hoa called on Indian investors to explore its potential and strengths and the cooperation opportunities available in localities during an online conference to promote cooperation between the two sides on March 25.

Speaking at the event, which was part of activities to realise the Vietnam-India Joint Vision on peace, prosperity, and people, reached by the Prime Ministers of the two countries on December 21, 2020, Chairman of the Khanh Hoa People’s Committee Nguyen Tan Tuan said the province boasts abundant advantages in natural landscapes and resources.

Khanh Hoa lies on a strategic location and is a gateway to the East Sea, he added.

For his part, Indian Ambassador to Vietnam Pranay Verma noted that as of last year, India had 294 projects in Vietnam with total investment of 898 million USD, mostly in the fields of energy, natural resources exploration, agricultural product processing, and coffee, sugar, and tea production.

At the same time, Vietnamese businesses had also invested about 29 million USD in the sectors of pharmaceuticals, IT, chemicals, and construction materials in India.

He said these figures should move upwards, adding that the natural landscapes and cultural diversity in Khanh Hoa could appeal to Indian visitors.

Vietnamese Ambassador to India Pham Sanh Chau highlighted India’s strengths that Khanh Hoa businesses could explore further, including infrastructure building, solar energy, IT, water resources management and use, and heritage conservation.

The Indian side underlined the country’s fields of strength, such as aquatic processing, water resources management, and waste management.

Khanh Hoa businesses also introduced cooperation opportunities in local economic, trade, and investment, especially in manufacturing, electronics, construction materials, home appliances, supporting industries, and shipbuilding and repair and warehousing at the Ninh Thuy Industrial Park (IP), one of the large IPs in the Van Phong Economic Zone.

India’s tourism sector and tourism cooperation opportunities were also explored.

Vietnam textile industry combats pandemic with PPE switch: Forbes

A surge in demand for personal protective equipment (PPE) from the manufacturing sector in Vietnam due to COVID-19 pandemic, along with the orders that flowed in from around the world helped to buoy the country’s important garment-making industry with many manufacturers rejigging their facilities to produce PPE, said an article on the forbes.com website.

The article cited statistics from Vietnam’s Ministry of Industry and Trade showing that there are more than 6,000 garment factories and textile mills in the country, and the sector employed some 3 million workers in 2020.

The Vietnamese government had initially restricted the export of goods, such as face masks, to ensure there was an adequate domestic supply to help combat the virus. But once the restrictions were lifted in March of last year, Vietnam’s manufacturers exported almost 1.2 billion masks through to December 2020 to North America, Europe and around Asia, it noted.

The article mentioned as an example Vietnam Goods and Exports (VGE) which turned to making cloth face masks.

It quoted VGE founder Anh Tran as saying that he made the decision to switch in early 2020, and sees an ongoing demand for his product.

“Despite vaccines now rolling out, the [Centers for Disease Control] is still recommending people to wear masks because it is a slow rollout, and there are still many at-risk people you can affect or be affected by,” he said.

“If vaccines are effective, you will probably see a drop-off in the wearing of masks near the end of 2021, but from now until then, it is still a massive industry that just exploded overnight.”

“Vietnam has definitely become a shining star in the global PPE trade in 2020 because prior to that most PPE was manufactured in China or the United States,” he added.

Vietnam, ASEAN countries urged to adopt green manufacturing technologies: conference

Vietnam and ASEAN countries need to adopt green manufacturing technologies to make sustainable new products and services, heard a recent international conference in southern Binh Duong province.

Dr Michael Braun, coordinator of the Enhanced Regional EU-ASEAN Dialogue Instrument project, told the ‘Cooperating with Europe for Green Manufacturing Technologies’ conference that it is important to promote technological cooperation between the European and Southeast Asian blocs for mutual benefit.

ASEAN countries have emerged as important manufacturing hubs in global supply chains, he said.

“The growing demand for environmentally sound, resource- and energy-efficient products and manufacturing has created a hunger for new green manufacturing technologies.”

With its rich technology and research landscape, innovative enterprises and dedicated green growth strategies, Europe is a major source of such green technologies, he said.

“Green technologies are key to sustainable new products, services and manufacturing processes, and are essential for realising green growth.”

For ASEAN member states, green technologies will help make the best possible use of their natural and energy resources and protect the health and well-being of workers and consumers.

Hans Farnhammer, head of Cooperation for the European Union Delegation to Indonesia, Brunei, Darussalam and ASEAN, said: “Green production has become the core of sustainable development.”

Prof TAN, Reginald Beng Hee, of the National University of Singapore, said, “Binh Duong province is set to become the next destination for green technology transfer.”

Nguyen Viet Long, director of the province Department of Science and Technology, said comprehensive transport infrastructure and quality human resources play a major role in attracting foreign investors, especially from Europe, with green manufacturing technologies.

The Government needs to invest in improving infrastructure and offer incentives to promote the triple helix model of university–industry–government cooperation, he said.

Joanna Drake, deputy director of the European Commission’s Directorate-General for the Environment, said under the European Green Deal, the EU recognises that climate change and environmental degradation are an existential threat to Europe and the world.

To overcome the challenges, the EU needs a new growth strategy that would transform it into a modern, resource-efficient and competitive economy in which there are no net emissions of greenhouse gases by 2050, and economic growth is decoupled from resource use, she said.

The Deal aims to make the EU’s economy sustainable by turning climate and environmental challenges into opportunities, focusing on investments in green technologies, sustainable solutions and innovative businesses, she said.

It also lays out a path for a sustainable transition that is socially fair and ensures ‘no person or place is left behind’, she said.

The EU therefore supports ASEAN and its member states with initiatives related to climate-change resilience and adaptation, environmental protection, including protecting bio-diversity, and disaster preparedness and response, she added.

The two-day conference that began on March 22 was held as part of the 2021 EU Industry Week organised by the provincial People’s Committee and the European Commission./.

Expansion of sugarcane expected to balance sugar market

The government needs to apply customs duties policies that would help increase the purchase price of sugarcane.

The prompt imposition of anti-dumping and countervailing duties on sugar originating from Thailand has encouraged domestic farmers continue to expanding raw material areas. However, local experts suggested that strengthening the link between farmers and businesses is a long-term measure to ensure the sustainable development of the sugar industry.

Since the imposition took effect from this March, the retail price of sugar has increased from VND1,500 (US$0.06)-VND2,000 (US$0.08) per kg compared to the end of 2020. The purchase price of raw sugarcane from local growers also increased by VND50,000 (US$2.1) to VND100,000 (US$4.3) per ton.

The average buying price is currently at about VND950,000 (US$41.2)-VND1 million (US$43.3) per ton, Nguyen Cam Trang, Deputy Director of Import and Export Department under the Ministry of Industry and Trade (MoIT) told the seminar entitled “Opportunities and challenges for the sugar industry” held on March 23 in Hanoi.

Being of the same mind, Chu Thang Trung, Deputy Director of the MoIT’s Trade Remedies Authority of Vietnam, said that local manufacturers have increased the purchase price of sugarcane materials by 10%-13% compared to the previous crops.

“This helps farmers remove difficulties and encourages them to consider replanting sugarcane and expanding areas of cultivation,” he said.

Nguyen Van Loc, Acting General Secretary of the Vietnam Sugarcane and Sugar Association (VSSA) said that the domestic sugar industry has been badly damaged by massive import of sugar in the past, so the recovery process takes a long time.

“However, the government needs take on a policy on customs duties that would help increase the purchase price of sugarcane,” he said.

The Department of Agricultural Products Processing and Market Development under the Ministry of Agricultural and Rural Development forecast a shortage of  raw sugarcane supply for factories in this year’s crop.

Currently, only 29 out of 40 sugar factories are still in operation. The total output of sugarcane in Vietnam is only around 5.3 million tons, equivalent to 530,000 tons of sugar.

Vietnam’s domestic sugar price remains the lowest in the region. Local experts said that in order to develop sustainably, it is still necessary to build a close linkages between businesses and farmers, developing quality and sustainable sugarcane material areas, and investing in technology to improve product quality.

Recently, the government has slapped temporary anti-dumping duty of 33.88% and countervailing duty of 44.88% on sugar originating from Thailand.

The decision comes after the MoIT last September initiated an anti-dumping and countervailing investigation on imported sugar from Thailand on the basis of the request of  the VSSA and domestic sugar producers.

VIB eyes over 7.5 trillion VND in pre-tax profit in 2021

The Vietnam International Bank (VIB) targets posting a pre-tax profit of more than 7.5 trillion VND (324.18 million USD) in 2021, a year-on-year rise of 29 percent, the bank’s extraordinary shareholder’s meeting on March 24 heard.

Under its business plan, the bank aims to have more than 300 trillion VND in total assets, up 26 percent against 2020.

With strong financial capacity and a specific business strategy, the bank decided to increase its capital by paying dividends in bonus shares and issuing stocks. With this, its charter capital will increase from over 11 trillion VND to nearly 16 trillion VND, helping it optimise asset growth while ensuring business safety ratios in 2021.

It will continue to develop new financial measures to bring an excellent experiences to customers.

VIB’s total assets increased 33 percent last year to 245 trillion VND. As its pre-tax profit grew 42 percent to more than 5.8 trillion VND, the return on equity (ROE) ratio reached 30 percent, helping VIB retain its top position in the banking sector in terms of business efficiency in the context of bad debts falling under 1.5 percent.

VIB is a pioneer in applying Basel III standards in risk management, after becoming the first bank in Vietnam to complete the three pillars of Basel II.

VIB began trading its stock on the Ho Chi Minh Stock Exchange in November 2020. The stock is now fluctuating around 43,800 VND./.

Vinh Long expects to turn tourism into spearhead economic sector

The Mekong Delta province of Vinh Long has mobilised resources to promote tourism development, with the aim of turning tourism into a spearhead economic sector by 2030.

During a conference held on March 24 to review the implementation of a resolution on tourism development in Vinh Long in the 2015-2021 period, participants discussed the province’s potential and advantages for tourism development, as well as measures to fully tap those strengths.

Their discussions specially focused on how to stimulate tourism demand in the province amid complex developments of the COVID-19 pandemic.

Vice Secretary of the provincial Party Committee Bui Van Nghiem said the local authorities have mobilised all resources for tourism development, and encouraged travel businesses and local community to build and popularise Vinh Long’s image to visitors, gradually developing the sector into a key contributor to its economy.

The province will also continue to complete and effectively implement tourism development projects, and consider organising a tourism festival as an annual event to draw more holiday-makers.

Dialogues between the local authorities and businesses will be increased with the aim of removing difficulties facing travel companies.

Vinh Long welcomed over 6.1 million domestic and foreign visitors in the 2015-2019 period, earning nearly 1.7 trillion VND (over 73.6 million USD). The number of tourists and revenue averagely increased 11.6 percent and 25.7 percent per year.

Ba Ria – Vung Tau industrial parks await FDI post-pandemic

Industrial parks in the southern coastal province of Ba Ria – Vung Tau are making preparations to attract foreign investments that are expected to surge after the COVID-19 pandemic passes.

The 500ha Dat Do 1 Industrial Park in Dat Do district wants FDI to account for 70 percent of all investment and domestic projects for only 30 percent, with priority given to supporting industries and hi-tech projects.

This year it attracted six local investors but no foreign investment.

Due to the ongoing COVID-19 pandemic, foreign investment had been severely impacted, Nguyen Khac Thanh, general director of Tin Nghia – Phuong Dong Industrial Park JSC, the developer of Dat Do 1 Industrial Park, said.

Many foreign investors have rented land in the park but delayed their projects since it was impossible for them to enter the country due to the travel restrictions and border closure, he said.

But his company had maintained contact with global customers and resorted to online marketing to introduce the opportunities and the procedures they have to complete to invest in the park, he said.

As a result, it managed to sign memorandums of understanding and took deposits for leases from 11 foreign investors, he revealed.

The park had helped foreign investors with investment procedures as part of efforts to attract them, he added.

The 999ha Phu My 3 Specialized Industrial Park in the province’s Phu My town has not attracted a single foreign project for more than a year due to the pandemic.

It has signed lease agreements with 10 foreign customers thanks to webinars and online marketing.

Nguyen Anh Triet, head of the provincial Industrial Park Authority, said there were incentives for industrial parks to attract investment, and administrative and land clearance procedures were being streamlined to develop industrial infrastructure.

Nearly 50 potential investors had signed MoUs and registered to lease more than 1,000 hectares of industrial land, he said.

The province planned to build eight industrial zones with more than 8,000ha by 2030 to meet the huge demand, he added./.

Vietnam targets 10 billion USD from fruit, vegetable exports by 2030

Vietnam expects to gain 8-10 billion USD from shipping fruits and vegetables abroad, with revenue of processed products accounting for at least 30 percent of the total by 2030.

Under a project to develop the fruit and vegetable process sector during 2021-2030 recently approved by the Prime Minister, Vietnam targets to attract investment in 50-60 fruit and vegetable processing establishments, and build several modern groups and enterprises who have good competitive capacity.

With a view to achieving the goals, Vietnam will invest heavily to improve processing ability, give priority to processing key fruits and vegetables which have high values, set up material zones, and develop markets for the products.

The project laid stress on the necessity to build processing and packaging facilities and storage warehouses and install suitable equipment to reduce post-harvest losses.

Besides, it is crucial to attract investment to ensure that all of the production facilities will be well equipped with necessary machines by 2030.

Along with encouraging businesses to invest in food irradiation centres at large-scale fruit and vegetable farming areas so that their products meet international standards, the country will promote intensive processing and diversify processed products.

Additionally, the country will establish specialised fruit and vegetable cultivating areas which are able to provide some 5-6 million tonnes of high-quality products for processing by 2030./.

Strong bonds with South Korean partners for deeper integration

Vietnam and South Korean businesses are expected to enjoy more investment opportunities soon and participate in the global supply chains thanks to new deals enabling them to implement investment promotion programmes.

The members of the supporting projects – Korea Electronics Technology Institute, Innovation Tech Lat, Korea Polytechnic University, and Innovative Technology Lat – will also sign similar deals with authorities and IZs in South Korea.

The agreements will help to reinforce the role of VITASK in investment promotion, along with the task of having a deep and thorough supporting programme.

According to Kyoung-Jin An, deputy director of VITASK, the cooperation will bring benefits for all sides. “We will introduce South Korean to invest in Vietnam, while simultaneously cooperating with departments and IZs to implement investment promotion programmes. Besides that, we will also connect Vietnamese businesses that want to penetrate the South

Korean market with local partners,” he said. “Regarding VITASK, the centre will be more convenient in approaching businesses, which have demand on supporting industries. In addition, it will help to improve the centre’s presence in both Vietnam and South Korea.”

After the first appraisal round of around 40 dossiers, VITASK selected 24 local suppliers to visit manufacturing facilities for the first time. The representatives of centres will visit these suppliers for a second time during the next months to select the final 16 eligible candidates.

“The scheme of this supporting programme was expected to be implemented in March, however, it will be delayed to May due to the impacts of the pandemic,” An explained. “According to the initial plan, we will select 12 candidates for the first phase. However, now the figure increases to 16 with the expectation of supporting more suppliers.”

VITASK currently cooperates with local authorities to work with the business community, which has the demand on technical support, but faces difficulties in approaching them.

“We hope to receive support from the government and relevant authorities to find suitable local suppliers, so that we can effectively implement the project,” An said.

Cooperating with South Korean ministries to establish the VITASK programme is a part of the Vietnamese government’s approach to help local suppliers improve their competitiveness.

The Vietnamese government has issued numerous regulations to promote development of local supporting industries, including Decree No.111/2015/ND-CP on incentive policies for businesses operating in supporting industries; Decision No.68/QD-TTg approving the Supporting Industry Development Programme from 2016 to 2025; the Law on Support for Small- and Medium-sized Enterprises; and Resolution No.115/NQ-CP dated August 2020 on solutions to promote supporting industry development.

The Ministry of Industry and Trade (MoIT) has also been working on an international cooperation project in terms of supporting industries, including the cooperation with Samsung to develop vendors, a scheme with South Korea’s Ministry of Trade, Industry and Energy to train technical engineers, and an additional World Bank project, among others.

Le Huyen Nga, deputy head of the Supporting Industry Division under the MoIT’s Agency for Industrial Development said, “Implementing synchronised solutions to support businesses in supporting industries will contribute to improving their competitiveness, improving the productivity and quality of their products, and leading towards smoother entry into global supply chains.”

Hanoi plans to begin construction of 43 industrial clusters in 2021

The capital city of Hanoi is planning to start construction of 43 industrial clusters in 2021, which were set up during the 2018-2020 period.

Accordingly, the municipal People’s Committee will begin construction of one industrial cluster in Quarter 1, 23 in Quarter 2, 13 in Quarter 3, and six in Quarter 4.

The city is striving to complete technical infrastructure for at least 20 industrial clusters, while attracting investment into 10-15 clusters.

All of the operating industrial clusters will have synchronous technical infrastructure, which will be managed in line with the current regulations. Furthermore, all of the newly-built industrial parks will have standardised sewage treatment stations.

Besides pushing technical infrastructure development, the city will create favourable conditions for investors to shorten investment procedures.

Hanoi has already developed mechanisms to support businesses who land investment in the industrial clusters, and issued regulations on service prices at the clusters.

Due attention will be paid to investment promotion, aiming to reach full occupancy at these industrial clusters. Competent authorities will work to improve its management over the clusters, and keep close watch on land use and illegal construction at the sites.

The city will tighten the examination of the establishment of new industrial clusters in accordance with existing regulations.

Hopes escalating for post-pandemic growth in M&A

Vietnam’s mergers and acquisitions, though rather muted in the beginning months of 2021, are expected to revive on the back of both vaccination programmes and legislative changes.

Vietnam has witnessed only a few merger and acquisition (M&A) deals since the beginning of 2021. Thailand’s SCG acquired 70 per cent stake in Duy Tan Plastics while Danish group BioMar scooped up a majority share in Viet-Uc.

Commenting on this trend, Masataka Sam Yoshida, head of the Cross-border Division of RECOF Corporation, said that this situation is just temporary, and a bright future is expected ahead. For instance, Japanese investors have become more cautious than ever after the latest wave of the pandemic in Japan.

Vietnam has been extremely successful in keeping the pandemic under control, but the strict travel restrictions make it difficult for Japanese companies to arrange short-term business travels, which are fundamental and crucial in considering and proceeding with M&A transactions. “Having said that, the rationale for the investment in Vietnam has not changed. Vietnam has much higher growth potential than Japan where the economy is too mature. We are aware that Japanese companies remain interested in Vietnam, even though they are not active at this moment,” he said.

According to RECOF’s M&A database, the number of outbound transactions from Japan decreased by 33 per cent to 557 transactions in 2020, while the same number in Vietnam declined by 30 per cent to 23. Vietnam ranked sixth as the destination country for Japan among all countries worldwide, and second only to Singapore in Southeast Asia.

Yoshida added, “COVID-19 has been the sole reason for the recent sluggish M&A transactions between Vietnam and Japan, so assuming the COVID-19 will be subdued with the start of vaccinations and the removal of travel restrictions, we are more than confident that the market will recover in the latter half of 2021.”

Meanwhile, Vo Ha Duyen, chairwoman of Vietnam International Law Firm, cited data by the Corporate Investment and Mergers & Acquisitions Center showing that the value of M&A deals in Vietnam in 2020 dropped by about a half from 2019. Various factors may have affected such activities, she said – the pandemic has had a significant impact on the global economy and also caused difficulties to dealmaking, while travel bans and lockdowns have hampered M&A due diligences and negotiation meetings.

According to Duyen, the ongoing changes to the laws of Vietnam have also contributed to some uncertainties. Under the new Law on Competition, a substantially higher percentage of M&A deals are subject to merger control filing requirements than under the old laws. Investors initially hoped that the introduction of the 30-day “preliminary review” track to the merger control filing procedure under the new law would help reduce procedural burdens.

Nonetheless, because sub-law regulatory guidance has not been issued, it seems that a majority of filing cases have not seen application of the 30-day preliminary review and have been subject to complex and uncertain evaluations which last for months.

In addition, local departments of planning and investment have had difficulties in applying the new Law on Investment as documents guiding the implementation of the law have not been issued. This could increase cases in which the licensing authorities have to seek opinions from other relevant authorities, which may contribute to delays in the M&A process.

“We hope that new decrees and circulars providing detailed and favourable regulatory guidance will be issued soon to support the competition and investment authorities in dealing efficiently with M&A transactions and to effectively reduce the time gap and uncertainties in the procedures, helping boost the recovery of M&A activities when the pandemic settles down,” Duyen said.

According to Vietnam M&A Forum Research Team, a number of mega deals are expected to be secured in 2021. Foreign investors from South Korea, Japan, Singapore, and Thailand will continue to dominate the market with the value of deals reaching up to $500 million. At present, Vietnam’s M&A market remains attractive to investors despite the impact of the global health crisis – in particular, in the second and third quarter of 2020 Vietnam witnessed more M&A deals after the country successfully contained the summer wave of infections.

That being said, Vietnam is hopeful about potential for post-pandemic M&A growth. Some experts have forecast that the main sectors that will contribute to the recovery of value in Vietnam are telecommunications, energy, infrastructure, pharmaceuticals, education, and e-commerce.

Yoshida from RECOF said that Japanese companies are concerned with stability of global supply chains. Vietnam is not only competitive as a location for manufacturing, but also it stands at the crossroads in terms of free trade agreements with major economic zones and so is well positioned.

“Additionally, more Japanese companies are paying attention to sustainability and technology innovations, and they are eagerly looking for opportunities to apply their expertise, such as in renewable energy, smart cities, AI, and more in Vietnam, where the people are open to new ideas,” he said. “As for the pandemic, we highly evaluate Vietnam’s success in keeping the pandemic under control, and this fact makes the country even more attractive for the Japanese investors.”

Garment sector set for full recovery in second half of next year

The local textile and garment sector is anticipated to bounce back during the third quarter of 2022, according to Le Tien Truong, chairman of the Vietnam National Textile and Garment Group (Vinatex).

Last year witnessed Vietnamese textile and garment exports grow by minus 10.5% due to the impact of the COVID-19 pandemic, just raking in US$35 billion, in contrast to regional peers who endured a decline of between 15% and 20%.

This is the first major setback the sector has suffered after 25 years of penetrating the global market says Truong, adding though the global market is showing signs of recovery, the number of orders and prices remain modest.

The executive reveals several local enterprises, including Vinatex, have received orders up until the end of April or even July and August for some commodities such as knitwear and other popular items.

The sector is poised to fully recover from the COVID-19 crisis in the third quarter of 2022 at the earliest possible time, says the CEO.

Truong speaks of disadvantages that the garment sector addresses during the COVID-19 pandemic time, noting garment firms are unlikely to fulfil signed contracts and more importantly the sector’s position in the global supply chain is also threatened.

Experiencing three coronavirus waves, the Vinatex representative therefore advises businesses to strictly take drastic COVID-19 prevention measures at work, with workers from epidemic hit areas being subject to a 21-day quarantine period.

During the course of the year ahead the domestic textile and garment sector is forecast to achieve an export turnover of approximately US$39 billion.

To meet the target, local firms will strive to expand into fresh markets while the implementation of various free trade agreements (FTAs) is anticipated to create a wealth of opportunities which will serve to boost exports.

The Vinatex leader also says as a means of taking full advantage of the tariff reduction and benefits from recently-signed FTAs, local firms are required to prove their origin of production, either in Vietnam or in intra-bloc countries. This is in line with the rule of yarn and fabric set out within both the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA).

Experts consider how Vietnam can attract greater investment from global firms

Vietnam must stay active in inviting multinational corporations and renowned companies to invest locally, especially those from countries with advantages in terms of technology, capital, and management skills, including the United States, the EU, and Japan, according to insiders.

The past five years has seen the foreign-invested sector make significant contributions to Vietnamese socio-economic development.

Furthermore, the country has always represented an attractive investment destination for foreign investors due to Vietnamese FDI attraction increasing from US$24.1 billion in 2015 to US$38 billion in 2019, with the figure being recorded at US$28.53 billion in 2020 despite the impact of the novel coronavirus (COVID-19) pandemic.

Do Nhat Hoang, director of the Foreign Investment Agency under the Ministry of Planning and Investment, attributes investment inflows into the country to a number of recently-signed free trade agreements (FTAs). This includes the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the Regional Comprehensive Economic Partnership (RCEP).

The enforcement of these various FTAs has created a wealth of opportunities for large foreign corporations, especially those in hi-tech fields, to invest domestically as they can maximise the benefits and incentives from these FTAs, Hoang adds.

Furthermore, he underscores the importance of attracting technology projects relating to AI, blochain, fintech, and training high-quality human resources that can meet the requirements for Vietnamese socio-economic development.

Nguyen Hoa Cuong, deputy director of the Central Institute for Economic Management (CIEM), emphasises the need to effectively invest in innovation for businesses whilst helping small firms gain access to funding sources from banks.

He therefore stressed that although the country can be considered vulnerable to the spread of the COVID-19 pandemic, the international community has highlighted Vietnamese containment efforts and determination to improve the local business environment and turn the country into an ideal destination for investors.

Nakajima Takeo, chief representative of Japan External Trade Organization (JETRO) in Hanoi, says while other countries are still struggling with the impact of the COVID-19 pandemic, the Vietnamese economy has rapidly recovered, with Vietnam becoming the first nation to enjoy the various advantages of the diversification of the global supply chains.

Moreover, with keen interest from foreign investors, including Japanese investors, the country should strive to improve the local business climate to attract more high-tech investors whilst fine-tuning the legal system and supporting firms to overcome the adverse impact of the COVID-19 epidemic, the JETRO representative states.

According to Nguyen Van Toan, vice chairman of the Vietnam Association of Foreign Investment Enterprises, it is essential to promote technology transfer and corporate governance for Vietnamese enterprises, while also being proactive in inviting multinational corporations and companies with popular brands to invest in the country.

Economic experts have therefore stated that it is necessary to complete the legal framework regarding anti-transfer pricing, revise regulations on tax management, whilst also increasing fines and penalties for acts of transfer pricing to ensure the strictness of law. This should be done alongside building and perfecting the database system and national information on FDI projects and enterprises.

Thousands of products qualified for OCOP standards

Thousands of products have been rated and qualified for the standards of the One Commune-One Product (OCOP) programme during the 2018-2020 period, said Deputy Prime Minister Trịnh Đình Dũng.

Addressing a national conference reviewing the OCOP programme in the 2018-2020 period in Hà Nội on Tuesday, Dũng said that all 63 provinces and cities across the country have rolled out the programme, in which 59 provinces and cities have verified and rated products.

The trade promotion for OCOP products has been also actively and effectively implemented by provinces, cities and agencies, he said.

A report from the Ministry of Agriculture and Rural Development (MARD) said that the OCOP programme has 4,469 products with three-star and above ratings in 59 provinces and cities, 1.86 times higher than the target set for 2018-2020.

Localities nationwide have so far organised 66 OCOP fairs.

Retail systems and trade centres have actively participated in consuming OCOP products.

The deputy prime minister emphasised that OCOP is a rural economic development programme, not only contributing to improving the incomes and the lives of people in rural areas, but also actively supporting agricultural restructuring and programmes on new-style rural area building.

The quality and design of the OCOP products improve day by day, bringing economic benefits to people, cooperatives, businesses and localities, he said.

However, the implementation of the programme still revealed several shortcomings, he added.

Several localities faced difficulties in defining their advantages and potential, and many only focused on existing products and did not pay attention to developing new products.

Trade promotion is still fragmented, not synchronous, and has not attracted consumers. Source of capital for OCOP development, the governance capacity of economic organisations and entities in OCOP are still limited.

The deputy prime minister requested ministries, sectors and localities to strengthen management over the implementation of the programme, guide the classification of products in localities, and supplement and complete a set of criteria assessing and rating OCOP products.

He also emphasised the need to absolutely avoid complaisance in assessing and recognising OCOP products, without paying attention to product quality, affecting the effectiveness of the programme.

For proposals and recommendations of ministries, sectors and localities, Deputy PM Dũng asked the MARD to consider thoroughly and continue working with them to build the OCOP programme for 2021-2025.

According to agriculture minister Nguyễn Xuân Cường, after three years of implementing the OCOP programme, business households, cooperatives, and small and medium-sized businesses have developed their production in the direction of professionalism.

The programme has promoted the potentials and strengths of localities in specialty products, production conditions as well as raw material areas with more than 145 OCOP products that have effectively exploited the local raw material areas, said agriculture deputy minister Trần Thanh Nam.

Vietnam looks to boost economic, trade ties with Russian localities

Vietnam attaches great importance to economic, trade and investment cooperation with Russian localities, Vietnamese Ambassador to Russia Ngo Duc Manh has said.

The Vietnamese diplomat made the statement during his meetings with governors of the southwestern Kursk and Bryansk regions of Russia on the occasion of his visits to these localities on March 23-24, as part of activities to further strengthen cooperation between Vietnam and Russia in general and their localities in particular.

Manh and Governor of the Kursk region Roman Starovoit, in their meeting, expressed their joy at the increasing development of Vietnam-Russia comprehensive strategic partnership, especially in recent times.

Starovoit called on Vietnamese businesses to increase their investment in promising sectors such as agriculture and tourism.

In 2020, trade turnover between Kursk and Vietnam hit 30 million USD, he said.

Meanwhile, Governor of the Bryansk region Alexander Bogomaz briefed Manh on the locality’s socio-economic development, noting that the Russian locality still maintained positive growth despite impacts of the COVID-19 pandemic.

He thanked the Vietnamese diplomat and relevant agencies for their efforts to promote cooperation between businesses of the two countries, especially in agriculture.

For his part, Manh said he is pleased with the Kursk region’s cooperation agreement with its sister Ninh Thuan province of Vietnam.

He thanked the two local governments for supporting the Vietnamese community to lead a stable life in Russia, thus contributing to the development of the Russian localities and their homeland.

Despite the COVID-19 pandemic, trade value between Vietnam and Russia still increased 8 percent to 5 billion USD. Notably, in the first two months of this year, it surged by over 30 percent, hitting nearly 800 million USD. Vietnam is the largest market of Russia’s meat products, accounting for nearly 45 percent of its total meat exports.

On the occasion, Ambassador Manh and his entourage visited food processing establishments, livestock and poultry production complexes of Miratorg Group in Kursk and Bryansk./.

Thua Thien Hue strives to develop tourism in new normal

The central province of Thua Thien Hue has put in a great deal of effort to restore the local tourism industry as the world moves into a new normal in the post-COVID-19 period.

The province has therefore taken a range of solutions aimed at stimulating domestic tourism demand through  diversifying its tourism products and services, creating entertainment spots at night, providing guests with exciting experiences at cultural heritage sites, and developing different types of tourism, including eco-tourism, beach holidays, and resort tourism.

In an effort to attract more guests to the ancient capital, travel firms are currently offering discounts of up to 50% on entrance fees to heritage sites between March 1 and August 31.

Furthermore, the province will also put on a wide range of festivals each month, including a traditional craft festival, the Lotus Festival, a food festival, the Hue Dragon Dance Festival, and the Hue Ao Dai Festival, in a bid to stimulate tourism.

Duong Thi Cong Ly, director of the Hue branch of the Hanoi Tourism Joint Stock Company, said the firm has paid close attention to the quality of its tourism products as it offers a fresh experience for visitors through unique products, including check-in tours around the Huong river and cycling tours which take guests throughout the city.

Tran Trong Kien, chairman of the National Tourism Advisory Council, emphasized the need to focus on digital transformation and development of the city’s brand so it is renowned for being green, clean, and safe.

Le Huu Minh, acting director of Thua Thien Hue Department of Tourism, said to turn Thua Thien Hue into a safe, friendly, and attractive destination, localities have been advised to strengthen connectivity by launching special tours, such as the Thua Thien Hue-Da Nang-Quang Nam tour which has proved popular in recent years.

Foreign brokerages rack up agreements

Several international banks, particularly from Taiwan, are boosting their financing offers to Vietnam’s brokerages, betting on the tremendous growth of the financial market.

The negotiations began at the end of 2020 and were completed after three months, despite the ongoing pandemic restrictions. The syndicated loan facilities are expected to fund the brokerage’s future operations and business expansion plans in the fast-growing equity market of Vietnam.

Ho Thi Thu Hien, chairwoman of the board at VietinBank Securities said, “The access to foreign capital could give the company an upper hand in taking advantage of lower interest rates, compared to other foreign brokerages which are backed by their foreign parent banks.”

The expansion of foreign loan limits, Hien added, would continue to add fuel to VietinBank Securities’ synergy to provide best customer-centric and diverse services. This deal is slated to pave the way for the company to boost its activities related to international loan advisory and financing arrangements.

Last December, Vietnam’s largest brokerage Saigon Securities Incorporation (SSI) was ahead of the curve when it signed a mortgage loan agreement of $85 million with a group of nine foreign banks, also led by Taipei-headquartered Union Bank of Taiwan.

Earlier in 2019, SSI also entered into a syndicated loan of $55 million from a group of financial institutions led by SinoPac Bank and became the first securities company in the country to be granted such large-scale credit in the form of an unsecured loan.

An SSI representative told VIR that the expansion of foreign loans with high value and low cost of capital laid a firm foundation for the company to boost its competitiveness through the provision of more cheap capital, especially for margin loans to investors.

Although the representative did not disclose specific rates or loan costs, SSI has an ace up its sleeve due to preferential interest rates thanks to its good risk management capacity, large-scale assets, and extensive network nationwide.

Up to now, only a few of Vietnam’s top securities firms are able to obtain sizable unsecured loans from foreign banks. Specifically, SinoPac, one of the leading Taiwanese lenders, has continuously displayed its eagerness to latch onto Vietnam’s lucrative equity market by cooperating with local prominent brokerages.

Ho Chi Minh City Securities Company also inked an agreement to receive a $50 million unsecured loan from 10 foreign financial institutions, also led by SinoPac, in 2019.

On the same track, SinoPac arranged a $40 million unsecured syndicated loan, together with other foreign banks, to lend to Viet Capital Securities Company in May 2020.

Local securities companies are not the only beneficiaries of unsecured syndicated loans from international funds. Last year, the $500 million syndicated term loan of Techcombank was named the second-largest in Southeast Asia, and the largest ever in Vietnam.

The loan facility was arranged by United Overseas Bank as coordinator and facility agent, and ANZ, CTBC Bank, First Abu Dhabi Bank, and Taishin Bank as mandated lead arrangers, underwriters, and bookrunners.

HDBank has also entered a $71-million syndicated loan led by a consortium of eight Taiwanese banks and an Indian bank arranged by Mega International Commercial Bank.

Market experts believed access to relatively cheap financing sources is one of the pivotal elements to help securities companies grow and stay competitive, especially in comparison with other foreign-backed brokerages such as Mirae Asset Securities, KB Securities, and KIS.

Regarding abundant capital to support margin loans, some foreign banks operating in Vietnam such as Wooribank, CTBC, Indovinabank, and Shinhan Bank Vietnam have actively backed securities firms to bolster margin lending.

For instance, Wooribank provided more than VND2.81 trillion ($121 million) to major brokerages, including KIS, MBS, ACBS, while KBSV. Indovinabank has also issued loans to securities firms such as MBS, KBSV, and TCBS.

Mekong Delta drives attractiveness to foreign investors

Foreign investors from Thailand, South Korea, and Japan are eyeing investment opportunities in garment and textiles, construction, solar power, manufacturing, and retail in the Mekong Delta.

“Central Group is looking for newly-built trade centres from 4,000-20,000 hectares. In the next 1-2 years we hope to develop two centres and a series of convenience shops in An Giang province,” Le said.

The dialogue was held between An Giang People’s Committee and foreign investors on March 23 in Ho Chi Minh City by the Investment Promotion Centre-South Vietnam (IPCSV) under the Ministry of Planning and Investment.

JS Construction from Korea, meanwhile, is looking for a minimum of 1,000ha for agricultural planting. Kim Jong Seong, director of JS Construction said that this land site needs clean land and infrastructure, especially water for irrigation.

Thai investors, meanwhile, expressed interest in the development of the border gate economy and industrial parks.

Audsitti Sroithong, minister counsellor from Office of the Board of Investment, shared that in the establishment of the border gate economy, the most important factor was the infrastructure system which must facilitate logistics.

According to Tran Thi Hai Yen, director of the IPCS, the investment promotion activities so far have not been effective enough as each province was working alone.

Many provinces are offering similar incentives while they need a unique offering that suits their natural resources and geographical position, as well the investment directions of the central government.

“Although the investment demand in the Mekong Delta provinces is great, investment promotion activities have remained ineffective,” Yen said at another meeting held on the same day where regional promotion centres shared experiences and discussed solutions to improve investment promotion in the region.

Yen added that the IPCS has received many diplomatic delegations (both online and offline) as well as large corporations that are very interested in investing in the southern region, especially the Mekong Delta.

The unit has also been tasked by the Ministry of Planning and Investmentwith promoting cooperation with provinces, enhancing investment promotion, and preparing steps to welcome and support the shift of foreign direct investment (FDI) flows in the coming time.

Regarding regional investment promotion links, Nguyen Thi Huyen Ngoc, deputy head of IPCS Investment Promotion Department, said there is an overlap in investment promotion activities run by many agencies.

In addition, these agencies are uncoordinated, partly due to the weakness of local investment promotion agency in reporting, exchanging information and promoting activities.

That is why Ngoc claimed regional linkages are essential to be set up, to reduce costs, better harness resources, and promote common interests while creating a common brand and a unifying driving force in investment promotion.

It is known that the Ministry of Planning and Investment has just assigned IPCS to set up a national electronic portal and the official launching ceremony is scheduled to be held in April 2021.

This will be a platform for all local authorities of the 13 cities and provinces of the Mekong Delta where the foreign business community can share and request information on opportunities in this region.

The IPCS has also been working with the consulates general of many countries in Ho Chi Minh City which are sending articles covering information on investment opportunities and investment needs of foreign enterprises through the industry associations in their country in this portal.

The Mekong Delta accounts for 12 per cent of the country’s area and 19 per cent of its population (about 17 million people). It is often referred to as the “rice bowl” of the country as it accounts for half of its total rice output and 95 per cent of its export rice output.

According to the World Bank, this region accounts for 20 per cent of the global rice trade.

Fishery production is also the region’s strength, accounting for 65 per cent of Vietnam’s production volume.

However, for many years, the Mekong Delta has been overlooked by foreign investors, receiving only 8 per cent of the total FDI capital pouring into the country each year on average.

This rate has increased significantly last year, when FDI in the Mekong Delta region reached $6.08 billion, accounting for 21.3 per cent of the total. Outstanding projects included the $4 billion liquefied natural gas (LNG) thermal power plant in Bac Lieu invested by Delta Offshore Energy (Singapore), the O Mon II thermal power plant project with the total investment of $1.3 billion from Marubeni (Japan) and Vietnam Investment Construction and Trading Joint Stock Corporation (Constrexim Holding), and especially the $3 billion LNG-to-power project invested by VinaCapital GS Energy, a joint venture between South Korean GS Energy and VinaCapital which received the investment certificate on March 21.

Source: VNA/VNS/VOV/VIR/SGT/Nhan Dan/Hanoitimes

CapitaLand has been listed in the 2021 ‘Global 100 Most Sustainable Corporations in the World’ index by Corporate Knights Inc.

This marks the Singaporean company’s ninth entry in the prestigious index, which lists the top 1 per cent of corporations in the world based on their sustainability performance.

It jumped five places from 2020 to 58th .

Raffles City Chongqing is CapitaLand’s largest integrated development in China and the largest single investment by any Singapore an firm in th at country to obtain the LEED Gold pre-certification for sustainab ility .

The corporation, which has a presence in more than 230 cities and over 30 countries, is also one of the highest ranked real estate companies in the index.

The top 100 corporations in the index were determined following an analysis of over 8,000 global corporations against a set of 24 quantitative key performance indicators covering areas such as clean revenue, resource efficiency, employee management, financial management, and supplier performance. New indicators such as clean investment and diversity among executives and board of directors have been included in this year’s analysis.

Lynette Leong, chief sustainability officer for CapitaLand Group, said: “CapitaLand is honoured to be consistently recognised as a global sustainability leader in the ‘Global 100 Most Sustainable Corporations in the World’ index.

“With the launch of CapitaLand’s 2030 Sustainability Master Plan last October, we continue to elevate our environment, social and governance (ESG) efforts with ambitious targets over the next decade. One of our targets is to significantly reduce carbon emissions, and we are the first real estate company in Asia, excluding Japan, to have our carbon emissions reduction targets validated by Science Based Targets initiative.

“To accelerate resource efficiency and shape a more sustainable built environment by developing greener and safer buildings, we also launched an inaugural CapitaLand Sustainability X Challenge. It is the first global platform by a real estate company to advance innovation and collaboration in sustainability within the built environment.

“As a responsible real estate company, we place sustainability at the core of what we do to future-proof our organisation and deliver long-term value for our stakeholders.”

Toby Heaps, chief executive officer of Corporate Knights, said: “Congratulations to CapitaLand who has continued to demonstrate leadership in sustainability. The group has risen in the rankings due to its strong performance in clean revenue and clean investment.

“CapitaLand has also consistently led the transformation of a more sustainable built environment through greening its global portfolio. This year the sustainability performance of each corporation is evaluated against a more robust set of indicators, and their response to the growing climate threat. Companies listed in the ‘Global 100 Most Sustainable Corporations in the World’ are not just top sustainability performers but also financially strong corporations that hold investors’ confidence and are ethical employers of choice.”

In ensuring that sustainability is embedded in its investments, CapitaLand conducts an environmental, health and safety impact assessment for each investment.

All developments must also adhere to its sustainable building guidelines, which incorporate design and construction specifications in accordance with its 2030 sustainability master plan targets.

CapitaLand is also developing a new metric, return on sustainability, in addition to the regular financial return to measure its ESG impact.

Over 23 properties across 10 cities in Vietnam support ed the 2021 Earth Hour .

Over 23 properties across 10 cities in Việt Nam to support 2021 Earth Hour

As part of its sustainability efforts, CapitaLand participated in the World Wide Fund for Nature’s (WWF) Earth Hour global movement on March 27, 2021.

In Vietnam, over 23 properties across 10 cities were part of the global initiative. From 8.30pm, CapitaLand Vietnam and its wholly owned lodging business unit, The Ascott Limited (Ascott), went beyond that hour to switch off their buildings’ façade and non-essential lights throughout the night.

They also encouraged their customers, guests, staff, and other stakeholders to lead a more sustainable lifestyle by sharing tips on how to reduce plastic, electronic and water wastes.

CapitaLand a global leader in sustainability

CapitaLand’s inclusion in the ‘Global 100 Most Sustainable Corporations in the World’ list further cements its reputation as a global leader in sustainability and highlights its strong sustainability profile to investors.

In February 2021 it was listed in the S&P Global Sustainability Yearbook for the 12th time. It is the top real estate company in Asia (excluding Australia), the first in Singapore to be listed in it and for the longest time.

The ranking places CapitaLand’s sustainability performance among the top 15 per cent in the global real estate industry.

In November 2020 CapitaLand was listed in the Dow Jones Sustainability World Index for the ninth consecutive year.

It was also the first Singaporean company and longest lasting in the Dow Jones Sustainability Asia Pacific Index after being included for a 12th consecutive year.

It was awarded first place across three categories in the 2020 Global Real Estate Sustainability Benchmark.

Internationally, CapitaLand was named the leader in the ‘Global Sector Leader for Diversified – Listed’ category.

In Asia, it won in the ‘Diversified – Asia – Regional Sector Leader’ and ‘Diversified – Asia – Regional Listed Sector Leader’ categories.

It was also included in the FTSE4 Good Index Series and the MSCI World ESG Leaders and MSCI World Socially Responsible Investment Index in 2020 for a seventh year.

CapitaLand is one of Asia’s largest diversified real estate groups.

Headquartered and listed in Singapore, it owns and manages a global portfolio worth around S$132.5 billion as of December 31, 2020.

Its portfolio spans diverse real estate classes including commercial, retail; business parks, industrial and logistics; integrated developments, urban development; and lodging and residential.

It focuses on Singapore and China as its core markets, and continues to expand in markets such as India, Viet Nam, Australia, Europe, and the US.

Representatives of Vietnam and the UK hand over notes confirming the date when the UKVFTA comes into force.

Vietnam will announce to the UK side its ratification of the UK-Vietnam Free Trade Agreement (UKVFTA) this month, so the deal can officially come into force from May 1.

According to the European-American Market Department under the Ministry of Industry and Trade (MoIT), the ministry has promptly and closely coordinated with the UK in the signing and completion of necessary procedures in order to put the pact in place as soon as possible.

The Vietnamese Government’s recent adoption of a resolution ratifying the UKVFTA will see the deal, which temporarily took effect from January 1, become officially effective.

Figures released by the General Department of Vietnam Customs show that in the first two months of this year, trade between Vietnam and the UK reached over 1.02 billion USD, up 20.05 percent year-on-year.

The figure reflects the momentum created by the UKVFTA to recover bilateral trade.

Economic and trade cooperation will continue to be a bright spot in the relationship between the two sides, given the UK has rolled out mass COVID-19 vaccinations and has a positive economic outlook according to international institutions.

After Vietnam and the UK signed the UKVFTA in London on December 29, 2020, the two sides completed domestic procedures to temporarily put the pact in place from January 1 (Vietnamese time).

The MoIT will continue to coordinate with other relevant ministries and agencies to complete an implementation plan to bring into full play the opportunities generated by the agreement./.

Stocks finish higher while foreign investors continue to flee market

Markets edged higher on Monday as many big stocks across all sectors made gains. Foreign investors were still net sellers.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed Monday at 1,175,68 points, up 1.16 per cent. During the session, 392 stocks rose while 83 stocks decreased.

The market liquidity was still high with local investors pouring over VNĐ14.49 trillion into the southern market, equivalent to a trading volume of nearly 660.55 million shares.

Monday’s gain was opposite to forecasts from securities firms like Bảo Việt Securities Co.

Analysts from Bảo Việt expected that the market might face correction earlier this week before bouncing back at the end of the week.

The 30 large-cap stock tracker VN30-Index also posted a rise of 1.1 per cent to 1,180.07 points. Twenty-nine of the 30 biggest stocks in market capitalisation in the VN30 basket rose while only one stock declined.

Stocks in all sectors recovered from last week’s volatile trend with the VN-Index losing 2.67 per cent for the week.

Stocks from banking, real estate, construction, materials, utilities, logistics, retail and information technology sectors all posted good performance.

Of which, top five stocks dominating the market’s trend were from the bank and materials segment. These stocks included Vietinbank (CTG), up 2.43 per cent, Việt Nam Dairy Products JSC (Vinamilk, VNM), up 1.64 per cent, VPBank (VPB), up 2.53 per cent, Việt Nam Rubber Group – JSC (GVR), up 2.01 per cent, and MBBank (MBB), up 2.73 per cent.

Meanwhile, Việt Nam National Petroleum Group (Petrolimex, PLX) post the biggest loss. Followed by Kinh Bắc City Development Share Holding Corporation (KBC) and Becamex Infrastructure Development JSC (IJC).

On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 1.92 per cent to 276.16 per cent on the rise of the biggest stocks.

The HNX30-Index, tracking the 30 large-cap stocks in market capitalisation on the HNX, rose 2.58 per cent to finish Monday at 406.64 points.

More than 178.19 million shares were traded on the northern exchange, worth nearly VNĐ2.72 trillion.

On the other hand, foreign investors continued to flee the market. They net sold a total value of VNĐ180.15 billion, of which VNĐ153.64 billion on HoSE, VNĐ19.93 billion on HNX and VNĐ6.58 billion on UPCOM.

In the global market, shares were mixed in Asia and the EU while rising in the US.

Nikkei 225 index increased 0.71 per cent, Shanghai index rose 0.5 per cent while ASX 200 and Kospi index slid 0.16 per cent and 0.36 per cent, respectively. S&P 500 index climbed 1.66 per cent and Nasdaq index was up 1.24 per cent.

Regarding the vessel stuck in the Suez Canal, a statement from the Suez Canal Authority on Monday said that the cargo ship blocking the canal was partially freed.

VN Keeps Close Watch on Rescue Mission of Ever Given

The Ministry of Industry and Trade (MoIT) has directed the Viet Nam Trade Office in Egypt to keep a close watch on rescue mission of Ever Given in order to timely inform Vietnamese exporters.

The move was made in response to the Suez Canal blockage as The Ever Given, a huge container ship, carrying 18,300 containers had been wedged in the Suez Canal since last Tuesday.

Vietnamese exporters are facing with heavy difficulties of container shortages, soaring shipping costs due to the COVID-19, and the Suez Canal blockage.

The ministry alerted Vietnamese exporters to raise their adaptability capability to market fluctuations, diversify export markets, and prepare backup plans to minimize negative losses.

Last year, Viet Nam earned US$ 43.7 billion from exporting goods to the Europe and imported US$ 18.5 billion of goods.

In the first two months of 2021, the Southeast Asian country’s exports to and imports from the Europe reached US$ 7.5 billion and US$ 3.1 billion, or up 18% and 12%, respectively.

So far, commodity exchanges between Viet Nam and the Europe are chiefly shipped by sea via Suez Canal while a small amount of cargo transported by air and rail, thus the blockage will pose heavy impact on trade activities between the two sides.

The ship is operated by Taiwanese transport company Evergreen Marine and is one of the world’s largest container vessels.

It became stranded on Tuesday, after running aground and becoming lodged sideways across the waterway. At first a gust of wind was thought to be to blame.

Over the weekend, 14 tugboats pulled and pushed the Ever Given at high tide to try to dislodge it and were able to move the ship “30 degrees from left and right”.

​Then on Monday, after several reports that the ship had been partially refloated, the Suez Canal Authority (SCA) issued a statement saying that the Ever Given had been “successfully refloated”.

The SCA said it would resume manoeuvres later on Monday high tide, “allowing for the full restoration of the vessel’s direction so it is positioned in the middle of the navigable waterway”./

LNG driving FDI picture so far in 2021

Vietnam is quickly becoming one of the most promising liquefied natural gas import markets in Asia, with major foreign players pouring billions of US dollars into the country this year.

The $3 billion LNG venture accounted for almost 30 per cent of the value of FDI attraction in the first three months of 2021.

This follows another mega-investment project from last year, when in January Delta Offshore Energy Pte., Ltd. registered $4 billion into an LNG-to-power complex in Bac Lieu province last year.

The list of registered LNG projects has been growing longer in recent years, including Japan’s Tokyo Gas, Sojitz, Kyushu, JERA, and J-Power, the United States, with familiar names such as ExxonMobil and AES Corporation, and South Korea with Kogas and GS Energy.

The demand for natural gas presents significant LNG opportunities in Vietnam not only due to the growing demand for energy. In anticipation of the declining supply of natural gas from domestic sources, Vietnam is expected to become an LNG importer as early as 2021. This will require significant upfront investments to build infrastructure across the LNG-to-power chain and Vietnam will be looking to strategic investors and sponsors for foreign capital and expertise according to the international law firm White and Case.

“As Vietnam transitions into an LNG importer, policies on LNG import prices (for instance to allow the ability to pass on increases in gas prices to consumers), technical standards for LNG infrastructure, and the liberalisation of the electricity and gas markets, among others, will be important considerations in the creation of a transparent and competitive market,” said Saul Daniel from White and Case.

He added that foreign investors looking to invest in large-scale infrastructure projects globally are looking for a stable legal and regulatory framework and a risk allocation model that adequately allocates the risk between the private sector and government, and which will ultimately be acceptable to third-party lenders to the foreign investors. Ongoing regulatory reform will play an important part in supporting the growth of the LNG sector at a pace to meet Vietnam’s energy ambitions.

While the pipeline is full to the bursting, how these projects could meet their promise in time remains a question as LNG-to-power infrastructure projects are very complex to execute. These are multi-stage development projects with numerous moving parts and multiple risks – involving upstream, downstream, counterparty, and construction interests.

For instance, Sembcorp Group expressed interest in building a thermal power project, but then in 2017 suddenly changed direction to utilise gas from the Blue Whale field. The nuances of the switch have kept the project from taking shape ever since. The project is still preparing investment procedures and negotiating a build-operate-transfer contract with the Ministry of Industry and Trade.

The National Steering Committee for Power Development has issued a proposal to approve the mechanisms on electricity pricing and electricity market participation of LNG power plants ahead of schedule, as well as soon complete policies and mechanisms to promote the progress of Blue Whale gas resources and other power projects.

The latest draft National Power Development Plan 8 so far proposed a four-fold increase of the current gas-fired power capacity to 28GW by 2030, or 21 per cent of the system capacity. The majority of the new capacity is expected to be fuelled by imported LNG.

Market players will also be paying close attention to how senior decision-makers address actions that will determine the affordability of LNG and shape the economic impact of Vietnam’s pivot to gas. Regulators are aware of the cost implications of LNG-fired power plants, according to a report by the Institute for Energy Economics and Financial Analysis.

Asian LNG spot prices have soared in recent months as a reminder that LNG prices will almost certainly trend higher and experience continued volatility as the market seeks a new post-pandemic equilibrium, the report concluded.

HCM City firms in price stabilisation programme seek to improve competitiveness

Businesses in the HCM City price stabilisation programme have been encouraged to become more innovative in the face of tougher competition, experts have said.

The city programme has attracted the participation of 37 enterprises, including major firms with popular brands. Firms in the programme have to register their prices with the city’s Department of Finance. Prices must be 5-10 per cent lower than market prices.

Face masks and hand sanitisers have been added to the list of essential goods in the 2020-2021 programme. The 10 other items are rice, noodles and vermicelli; sugar; cooking oil; eggs; cattle meat; poultry meat; vegetables; processed foods; seafood; and seasonings.

According to the experts, the essential goods under the programme are facing high competition in the market, especially products of cattle meat, poultry, eggs, processed foods, and dairy products.

Firms that use science, technology and innovation will be able to improve their productivity and competitiveness.

In recent years, Viet Nam Nutrition Food JSC (NutiFood), which participates in the programme, has invested and cooperated with world-famous dairy corporations to develop raw materials for domestic and export markets.

In 2018, NutiFood contributed 50 percent of the investment in strategic cooperation with Sweden’s Skånemejerier Ekonomisk Förening Company, the second largest nutrition group in Sweden and Backahill Group to build the Nutifood Sweden plant.

In 2020, Nutifood officially took over 100 per cent of the project and established the Swedish Nutifood Research Institute (NNRIS) to standardise milk lines for the Viet Nam market.

Swedish companies have experience in providing safe, sustainable and environmentally friendly manufacturing solutions.

They are helping Vietnamese enterprises develop the nutrition sector, said Björn Savlid, Trade Commissioner of Sweden to Viet Nam.

Meanwhile, Nguyen Ngoc An, general director of Vissan Joint Stock Company, the leading processed foods in Viet Nam, said that 100 per cent of pork and meat supplied for processing meets VietGAP standards and traceability requirements.

Vissan has also shifted from purchasing pigs from hundreds of different farms to cooperating with strategic suppliers that can control food quality and safety, as well as provide stable prices. Vissan also checks and analyses the ratio of fat and meat per pig in the barn to ensure fair purchasing prices for suppliers.

Late last year, the HCM City Business Association unveiled a digital transformation programme for small and medium-sized enterprises (SMEs) to improve their competitiveness.

The programme will help SMEs gain better access to digital transformation solutions at reasonable costs. A portal will be built to support the digital transformation efforts, and a digital transformation solution package called Service Catalog will be established to support businesses.

Hanoi green-lights 5 public projects worth US$76 million

The municipal People’s Council considers these projects necessary to aid the city’s socio-economic development process.

The 15th-tenure Hanoi People’s Council at its 19th session today [March 29] ratified a resolution on the investment of five projects using the state budget worth a combined of VND1.75 trillion (US$76 million), with the endorsement of 100% of its deputies present.

Among those projects, the city is set to allocate VND1.64 trillion (US$71.1 million) from its municipal budget for road upgrading projects, including the expansion of two national highway 21B sections in Ung Hoa and Thanh Oai districts in the city’s southern area; and the construction of road connecting Do Nhuan street to Xuan Dinh market in Bac Tu Liem district.

The municipal People’s Council also agreed investment in resettlement area at Hong Ky ward, Soc Son district, where will be home to residents living in the surroundings of the Soc Son waste treatment complex.

Meanwhile, the project of renovating Hoan Kiem lake area with lighting system and decoration is set to utilize fund from Hoan Kiem district.

The Economic-Finance Committee under the municipal People’s Council considered these projects necessary to complete the city’s transport infrastructure and serve the socio-economic development process.

Roughly 448 enterprises withdraw from market on daily basis

The opening three months of the year witnessed as many as 40,300 local enterprises suspend their operations for a definite period, or halt working as they await and finalise dissolution procedures, an increase of 15.6% over the same period from last year, according to the General Statistics Office (GSO).

The majority of companies are young, small-scale, and vulnerable businesses due to facing a range of negative external influences.

According to the GSO, the first quarter of the year saw the country record 29,300 new enterprises with a total registered capital of VND447,800 billion. In addition, the total number of registered employees stood at 245,600, marking a 1.4% fall in the number of businesses, up 27.5% in registered capital and up 0.8% in the number of staff over the same period from last year.

Survey results released by the GSO regarding enterprises trends in the manufacturing industry during the first quarter of the year indicate that 29.6% of firms assessed that their business and production situation in the first quarter is better than that of the fourth quarter of last year. Indeed, 31.4% of businesses faced difficulties whilst 39% of enterprises said that their business and production situation remained stable.

It is therefore expected that moving into second quarter of the year, 51% of enterprises would be better, 14.9% of businesses are forecast to face more difficulties, whilst 34.1% of firms think that the business and production situation will remain stable.

March CPI inches up 1.16 percent, lowest yearly rise in 5 years

The Consumer Price Index (CPI) in March inched up 1.16 percent from the same period last year, the lowest rise since 2016, according to the General Statistics Office (GSO).

Compared to the previous month, the March CPI slid 0.27 percent on the back of abundant supply and weaker demand after the Tet (Lunar New Year) holiday ended, said GSO Director General Nguyen Thi Huong on March 29.

The average CPI of the first quarter rose by 0.29 percent, the lowest increase for Q1 recorded in the last 20 years, while Q1’s core inflation picked up 0.67 percent.

Huong attributed the Q1’s CPI increase to the rice price which surged 8.55 percent year-on-year from January-March as a result of rising global price and high demand for premium rice during the Tet holiday.

The prices of several main groups of goods and services also moved upward, pushing up the costs of catering services by 2.08 percent year-on-year.

The cost of education services rose 4.49 percent due to the latest raise in school fees under a roadmap set in Decree 86/2015/ND-CP dated October 2, 2015.

Meanwhile, the government’s activation of aid packages for people and businesses affected by COVID-19 was among factors helping ease the pressure on Q1’s CPI, according to the GSO official. The Vietnam Electricity (EVN)’s power bill cut in the second and fourth quarters of last year caused the electricity price to decline 7.18 percent in January, which contributed to a CPI decrease of 0.24 percentage points during the period.

The average petrol and oil prices in Q1 also fell by 9.54 percent year-on-year, making the three-month CPI to drop 0.34 percentage points. The resurgence of COVID-19 in early 2021 has weakened travel demand, causing airfares, train fares and holiday packages costs to decrease by 24.28 percent, 10.03 percent and 4 percent, respectively.

Domestic gold price in March was down 2.97 percent month-on-month but up 16.84 percent year-on-year, making the average gold price in Q1 increase 23.27 percent./.

Green growth – A new approach in economic growth: Planning minister

Green growth has become an inexorable trend and a goal that all countries are aiming for, Minister of Planning and Investment Nguyen Chi Dung told a consultation conference on compiling a national strategy on green growth in the 2021-2030 period, with vision to 2045 towards 2050, held in Hanoi on March 29.

Choosing green growth is considered a new approach in economic growth to achieve comprehensive prosperity, especially in countries seriously affected by climate change, Dung said, adding that green growth contributes to reforming the growth model, strengthening the economy’s resilience and reducing humanity’s vulnerability to external shocks.

Vietnam is among the countries most severely affected by climate change, natural disasters, and diseases. It is stepping up the transformation of the growth model in an intensive and effective manner and speeding up post-pandemic recovery.

Therefore, the development of the national strategy on green growth in conformity with the new context is a goal and priority to achieve economic prosperity, Dung affirmed.

Le Viet Anh, head of the Ministry of Planning and Investment’s Department of Science, Education, Natural Resources and Environment, said that the strategy demonstrates Vietnam’s responsibility, sharing, and cohesion in realizing international commitments and serves as a basis for balancing domestic resources, mobilizing international resources effectively, and harmonising the socio-economic development roadmap with emission reduction goals, thus helping to increase the efficiency of public investment allocation and monitor and evaluate the implementation of climate change and green growth projects in the medium and long terms.

At the conference, representatives from ministries, sectors, and the embassies of the Republic of Korea, the Netherlands, and the UK in Vietnam, and international organisations and development partners such as the World Bank, the Asian Development Bank, and the UN Development Programme contributed ideas to the strategy and agreed with its new features.

They committed to supporting and standing side-by-side with Vietnam during implementation.

The draft strategy is expected to be submitted to the Prime Minister in June./.

Number of foreign visitors plunge 98.7 percent in Q1

The number of foreign visitors to Vietnam in the first quarter of this year fell 98.7 percent year-on-year to just over 48,000, as the COVID-19 pandemic continued to throw cold water on the country’s inbound tourism sector, the General Statistics Office (GSO) reported on March 29.

As the country has closed its borders to nearly all foreign arrivals in a bid to contain the pandemic, the number of visitors arriving by air, land, and sea has fallen substantially.

Most arrivals have been foreign experts and technical workers working for Vietnamese projects or drivers bringing goods through border gates, according to the GSO.

The pandemic has been brought under control in Vietnam, with frontline workers now receiving vaccine shots. Authorities have bolstered negotiations with international partners on vaccine procurement while speeding up home-grown vaccine development to ensure accessibility for local people.

The Vietnam National Administration of Tourism (VNAT) under the Ministry of Culture, Sports and Tourism said that although it is necessary to reopen the door to foreign tourists, the country must remain prudent in the task of assuring effective pandemic prevention and economic development.

VNAT has worked with representatives from relevant ministries and sectors to discuss a pilot plan on bringing foreign visitors to Vietnam.

Source markets must have sound pandemic prevention measures in place and have bilateral agreements with Vietnam on the issue, such as Japan, the Republic of Korea, and Taiwan (China). Travel companies and destinations must also meet State requirements on pandemic prevention./.

VNR plans expansion of shopping centers at train stations in Vietnam

The railway station area is expected to become the location of amusement parks, supermarkets and services, then earning profits.

The state-owned Vietnam Railways Corporation (VNR) continues raising its expansion of a network of retail centers at nearly 300 train stations which would provide income for the development of the national railway industry.

The railway station area would accommodate amusement parks, supermarkets and services for residents and visitors, Vu Anh Minh, Chairman of the VNR told a recent conference.

“The added value here is even greater than that of other areas. They provide services not only for passengers but also surrounding residents and this is a great advantage that we have to tap into,” Minh suggested, adding that many countries have built retail centers at railway station premises with central and local budgets, including private businesses.

The proposal is aimed at raising capital for renewing the outdated infrastructure of the railway industry, especially the train stations. With the current infrastructure system, it is hard for the industry to be profitable.

Among 297 train stations, only ten can earned profits from passenger and cargo transport, so that it is necessary to step by step upgrade them so as for these stations to become economically efficient, Minh added.

“As a result, the residual value of upgraded stations will be bigger by 2030, then the capital sourced from the stage budget for the maintenance and upgrading of railway infrastructure will be gradually diminished,” Minh said.

He believed this is the only solution, the most breakthrough and also the greatest hope of the industry to promote the development of the railway industry.

At the seminar entitled “Challenges and Opportunities for the Development of Vietnam’s Railway Industry” on March 25 on Hanoi, Dang Quyet Tien, Director of the Corporate Finance Department under the Ministry of Finance, said that the VNR has worked out plan to tap into the well-positioned stations for the purpose of improving the passenger transit handling and building supermarkets, hotels or cultural centers.

In 2019, the corporation submitted its plan for upgrading the railway infrastructure and is waiting for the Prime Minister’s approval on assigning railway stations to them to manage. Some local experts said that, to attract passengers, the railway sector needs improve service quality rather than upgrading a station with a commercial centre.

According to the country’s railway development strategy for 2016-30, the industry would require an estimated VND110 trillion (US$4.8 billion) by 2030 to revamp the existing network.

Vietnam to reopen int’l tourism market with COVID-19 preventive measures in place

The Vietnam National Administration of Tourism (VNAT) have emphasised the need to reopen the international tourism market, while simultaneously highlighting the importance of setting out a roadmap and various conditions in order to open borders for tourists once COVID-19 preventive measures have been put in place.

According to data released on March 29 by the General Statistics Office (GSO), the number of foreign arrivals to the nation during the first quarter of the year stood at an estimated 48,000, representing a decline of roughly 99% compared to the same period from the previous year.

The first quarter of the year witnessed the overall number of visitors from Asia make up 88.6% of the country’s total number of foreign arrivals, representing a year-on-year fall of 98% as visitor numbers from several major markets recorded a sharp drop.

The decline can primarily be attributed to the nation continuing to take COVID-19 preventive measures whilst not yet reopening its borders for international travelers.

Most notably, the number of international visitors arriving in the country mainly consists of foreign experts and technical workers who are working on various local projects.

Currently, the COVID-19 epidemic in the nation has largely been brought under control, with frontline workers now getting vaccinated.

Relevant authorities have therefore been negotiating with international partners in order to quickly import the COVID-19 vaccine while also promoting the research and development of domestically produced vaccines in an effort to ensure a consistent supply source for the entire population as swiftly as possible.

Furthermore, domestic tourism has bounced back with localities deploying a range of promotional activities in a bid to attract tourists for the summer season and the upcoming holiday, National Reunification Day on April 30, and May Day.

The VNAT has therefore collaborated with relevant agencies in order to devise a pilot plan aimed at welcoming international visitors moving forward under the Prime Minister’s direction on the proposal to open borders for foreign arrivals amid complicated developments relating to the COVID-19 pandemic.

It has also underscored the importance of launching a pilot scheme to welcome international visitors by selecting countries which have effectively contained the pandemic, including Japan, the Republic of Korea, and Taiwan (China).

According to the VNAT, flights must be direct ones which are conducted by travel firms that the required level of human resources and financial backing to fully meet the conditions set by state agencies.

Moreover, the destinations of international visitors will be required to full abide by disease preventive measures, with top priority being given to renowned tourist sites such as those located by the sea or on the mountain, that can suit the needs and tastes of tourists amid the complex nature of the pandemic.

HCM City’s agro-forestry-fisheries value up in first three months

Ho Chi Minh City’s agro-forestry-fisheries value increased 1.65 percent year-on-year in the opening three months of the year, the municipal Department of Agriculture and Rural Development has reported.

Cultivation grew 2.41 percent, aquaculture 1.8 percent, and animal husbandry 0.95 percent.

Pig and milch cow heads, however, fell year-on-year.

There are now 105,386 heads of cattle in the city, down 3 percent year-on-year. Of these, 51,329 are beef cattle, up 0.3 percent, and the remainder milch cows, down 6 percent. Pigs totalled 147,168 heads, down 9.1 percent.

The total output of aquatic products was estimated at 13,756 tonnes in the first three months, up 1.8 percent year-on-year. Of this, 7,902 tonnes were farmed, up 1.5 percent, while those caught totalled 5,854 tonnes, up 2.1 percent.

Regarding cultivation, the vegetable area was 5,508 ha, up 13.6 percent and with an output of 150,453 tonnes, up 9.6 percent.

Local companies exported some 76.9 tonnes of seeds, including 66.9 tonnes of vegetable seedss and 10 tonnes of rice seeds, down 31.2 percent year-on-year.

Since the beginning of this year, 137 cultivation establishments in the city with a total area of 309 ha and output of 35,905 tonnes per year received VietGAP certificates, raising the total number to 600 with 966 ha and annual output of 153,367 tonnes.

Director of the municipal Department of Agriculture and Rural Development Dinh Minh Hiep said that, this year, the city’s agriculture sector strives to achieve gross regional domestic product (GRDP) growth of 2-2.5 percent and will grant VietGAP certificates to 76 percent of vegetable growing area.

In the near future, the city will step up its agriculture restructuring and instruct farmers, cooperatives, and businesses on how to develop key farm produce such as vegetables, flowers, milch cows, pigs, brackish-water shrimp, and ornamental fish, and adopt bio-technology to produce quality seedlings and breeding animals, towards turning the city into a hub of seedlings and breeding animals in the region./.

Enterprises should anticipate risks to restrict arising of disputes

How to avoid scams when signing investment agreements with foreign enterprises? Is there any way to make use of incentives from free trade agreements? These concerns of some enterprises are also common questions in the process of Vietnamese enterprises integrating into the global playground.

The hundred-million-dollar bogus contract

Attorney Bui Van Thanh, Head of New Sun Law Firm cum Arbitrator of the Vietnam International Arbitration Center (VIAC), told the story of a Vietnamese enterprise suddenly receiving a large order from its partner, asking for the supply of medical masks for the prevention of the Covid-19 pandemic, exporting to the US, with the contract value of up to US$270 million. Due to the large value of the order, this enterprise consulted lawyers to get advice on setting up the contract and instructions on how to fulfill commitments.

He advised that enterprise, through information channels, finding out whether its partner is just a blogger or a real buyer. Besides, the terms on down payment must be strictly established.

‘After reviewing the enterprise’s capability, and supply and production capacity, it asked its partner to deposit 30 percent with the guarantee. As soon as receiving feedback from the company, its partner disappeared,’ said Mr. Bui Van Thanh.

A few days ago, the Ho Chi Minh City Center for International Integration Support (CIIS) in association with the VIAC organized a seminar on the Regional Comprehensive Economic Partnership (RCEP) and business strategy implies for enterprises in the new context. At the seminar, many economists acknowledged that free trade agreements (FTAs) in general, and the RCEP in particular, are expected to open up many export opportunities for Vietnam, and at the same time help Vietnamese enterprises to be able to better connect to the global supply chains. However, there are also challenges of trade deficit, the degree of autonomy in the supply chain, as well as the competitiveness of Vietnam compared to member countries in the RCEP.

Enterprises should be cautious

Mr. Nguyen Anh Duong, an economist at the Central Institute for Economic Management, said that in the current context, enterprises need to focus on improving their competitiveness, at the same time, thoroughly study market regulations to promptly change and make use of the benefits brought by FTAs.

Adding to this content, Mr. Tran Ngoc Binh, Head of the Import and Export Management Office of Ho Chi Minh City under the Import and Export Department of the Ministry of Industry and Trade, analyzed new points and differences related to the rules of origin of RCEP compared to FTAs that Vietnam has implemented. For instance, some products, such as textiles and processed seafood, have advantages when exporting to RCEP member countries, it is not too difficult for enterprises to implement. Noticeably, according to Mr. Binh, enterprises can carefully screen among the trade agreements that Vietnam has signed, which agreements have preferential tax rates and rules of origin that are easier to achieve to select.

Mr. Bui Van Thanh noted that for importers in large supply chains, normally, enterprises will have separate agreements on confidentiality and detail regulations, including what a trade secret is, in which cases it will be considered a violation of trade secrets, and the scope of application. If enterprises are large importers, they will require to apply those agreements and regulations to the importers, as well as all related enterprises of the importers or distributors, and manufacturers. Moreover, for sanctions, it is assumed that according to Vietnam’s Commercial Law, the highest fine is only 8 percent of the violated obligation, but non-disclosure agreements can give specific numbers with high penalties. It relates to applicable law.

In fact, to enter the global playground, enterprises need to prepare lots of things, especially knowledge and understanding of domestic as well as international laws. Attorney Chau Viet Bac, Deputy General Secretary of VIAC, said that FTAs that Vietnam has participated in have created an open business environment, but they also set out requirements for signing contracts and conducting transactions strictly. Therefore, enterprises need to correctly understand the regulations to effectively apply them.

Forestry exports up 41.5 percent in Q1

Vietnam earned about 1.52 billion USD from wood and forestry exports in March, raising the value in the first three months of this year to over 3.94 billion USD, up 41.5 percent year-on-year.

Of which, exports of wood and wooden products nearly touched 3.7 billion USD, up 41.5 percent, and exports of non-timber forestry products reached 243 million USD, up 38.4 percent.

According to the Vietnam Administration of Forestry under the Ministry of Agriculture and Rural Development, major export markets for Vietnamese timber and forestry products were the US, Japan, China, the EU, and the Republic of Korea (RoK), accounting for up to 90 percent of the total value.

Meanwhile, the import value of wood and wooden products was estimated at 227 million USD in March and 709.6 million USD in the first quarter, up 31 percent over the same period last year.

The domestic forestry sector ran a trade surplus of over 3.23 billion USD in the three-month period, up 43.4 percent year-on-year.

Vietnamese enterprises have been importing wood and forestry products from China, the US, Cameroon, Thailand, and Chile, accounting for about 55 percent of the accumulative import revenue.

The rise in the import value was due to higher prices of raw materials and increasing demand.

The Vietnam Administration of Forestry also reported that localities nationwide planted 31,498 hectares of forest so far this year, up 16 percent as compared with the same period last year./.

Can Tho promotes investment attraction from Japan

Deputy Chairman of the People’s Committee of Can Tho Nguyen Van Hong on March 29 discussed with Chief Representative of the Japan International Cooperation Agency (JICA) Shimizu Akira measures to boost cooperation and investment from Japanese businesses to the city in particular and the Mekong Delta in general.

Hong proposed JICA support Can Tho in important areas that the Mekong Delta city needs.

The city hopes JICA to conduct the component of purchasing medical equipment for the Can Tho heart hospital with 200 patient beds.

On investment promotion, the city calls for non-governmental aid projects in the fields of environmental protection and health care.

Chief Representative of JICA in Vietnam Shimizu Akira said JICA wishes to further promote existing cooperation and diversify fields of collaboration with the city, especially in the context that numerous Japanese firms want to invest in Vietnam.

He said JICA is discussing with management agencies as well as its officials in charge of health on the project providing equipment for the Can Tho heart hospital.

Can Tho is strong in certain areas such as high-tech agricultural production and aquaculture, he said, adding JICA will provide possible support in fields it is in charge.

In the coming time, JICA will pilot a small-scale project on waste classification at source, and it wishes to receive support and cooperation from the municipal Department of Natural Resources and Environment to carry out the project. The project’s survey will be conducted in two weeks from April 12./.

Da Nang joins hands with central provinces to promote domestic tourism

A joint domestic tourism stimulus programme has been announced by the Da Nang Department of Tourism in coordination with three localities in the central region.

Themed “Amazing Central Heritage”, the programme aims to attract more tourists to the central region, home to a range of heritages of Vietnam.

It is also to promote the tourism brand of four localities: Da Nang, Thua Thien Hue, Quang Nam and Quang Binh, in order to revive tourism after the COVID-19 epidemic.

The programme will take place until the end of December with many new packages, featuring round-trip airfare discounts and vacation promotions at famous resorts, hotels and tours in the above mentioned localities, along with MICE and golf service packages with reasonable incentives.

The local tourism industry will coordinate to monitor and inspect the implementation of commitments by enterprises participating in the programme and strictly comply with the instructions of the Government, the Ministry of Health, the Ministry of Culture, Sports and Tourism and the local People’s Committees on the prevention and control of the epidemic./.

Vietnam’s GDP estimated to expand 4.48 percent in Q1

Vietnam’s gross domestic product (GDP) in the first quarter of 2021 is estimated to rise 4.48 percent, higher than 3.68 percent recorded in the same period last year, the General Statistics Office (GSO) General Director Nguyen Thi Huong reported at a press conference on March 29.

The GSO leader said that the agro-forestry-fishery sector grew 3.16 percent, contributing 8.34 percent to the overall GDP growth, while industry and construction expanded 6.3 percent, and service sector grew 3.34 percent, contributing 55.96 and 35.7 percent to the total growth, respectively.

Huong attributed the result to the drastic and timely direction of the Government, the Prime Minister and efforts of ministries, sectors, people and businesses to continue implementing the dual targets of preventing the spread of the COVID-19 pandemic and developing the economy at the same time.

She said that in the first quarter of this year, the agro-forestry-fishery sector saw strong growth thanks to high rice and fruit production, controlled African swine flu and expanded markets for wood and forestry products.

Despite a 6.5 percent rise, higher than the figure of 5.1 percent in the first quarter of 2020, the growth of the industry and construction sector was still much lower than that in the first quarter of 2018 and 2019.

Meanwhile, processing and manufacturing continued to be the driving force for the growth of the economy with an expansion of 9.45 percent. The mining sector suffered negative growth of 8.24 percent.

Thanks to the good control of the COVID-19 pandemic and the optimization of free trade agreements, the service sector enjoyed positive signs. The growth of wholesale and retail was 6.45 percent, while that of the finance-banking and insurance sector was 7.35 percent. However, the transportation and warehouse sector and accommodation-catering services still saw decreases of 2.17 percent and 4.49 percent, respectively.

In terms of economic structure, in the first quarter, contributions from the agro-forestry-fishery sector was 11.71 percent, while that of industry-construction was 36.45 percent; services, 42.2 percent; and product taxes less subsidies on production, 9.64 percent.

Exports of goods and services rose 17.01 percent, while imports increased 16.38 percent./.

Southern provinces to expand industrial parks

Provinces in the southern region plan to expand industrial parks (IPs) and continue improving the business climate to lure foreign investment following the containment of the third COVID-19 outbreak.

Tran Tue Hien, chairwoman of Binh Phuoc Province People’s Committee, said it has sought approval from the Government to expand three IPs with an additional area of 2,500ha.

It aims to attract 6,000 new businesses, especially in processing, agriculture and supporting industry, over the next five years, she said.

Binh Phuoc has 13 IPs with an area of nearly 4,700ha, and eight industrial clusters with an area of 380ha.

Despite the pandemic, Binh Phuoc last year attracted 120 domestic projects with registered capital of VND12 trillion (US$522 million), up 17 per cent year-on-year, and 36 foreign-invested projects worth $432 million, or 96 per cent of the figure in 2019.

To date, the province has more than 270 foreign-invested projects with registered capital of $2.7 billion.

Nguyen Minh Chien, head of the Binh Phuoc Province Economic Zone Authority, said that Binh Phuoc would improve its investment climate and administrative procedures, and offer incentive policies for investors in high-tech agriculture, commerce and logistics.

Long An Province has received approval to add three new IPs to the national plan, including the Saigon – Mekong IP covering 200ha, Tan Tap IP 654ha, and Loc Giang IP 466ha.

Long An will also expand the second phase of Long Hau IP (90ha) and the third phase of Xuyen A IP (177ha).

Recently, the Phuoc Dong Industrial Park and Port opened in the province. It is located 39km from HCM City’s Tan Son Nhat International Airport, 19km from Long An International Port, and 42km from Cat Lai Port.

It spans an area of 128.8ha, of which 92.39ha are industrial land with ready-built factories and warehouses.

The port system will be developed to welcome cargo ships with a capacity of 20,000DWT in the future.

In addition, the Government has recently allowed Dong Nai Province to convert 6,500ha of farm land to new IPs and expansion of existing IPs to address a shortage of space.

Six localities in the province such as Long Thanh, Cam My, Thong Nhat, and Trang Bom, and Nhon Trach districts and Long Khanh City plan to build more IPs, each between 200ha and 900ha.

Dong Nai will also expand existing IPs as they are all nearly full. Thirty-five of them have received approval from the Government, though only 31 are in operation and one more is under construction, with a total area of over 10,000ha.

To date, 1,700 companies have invested in Dong Nai, including more than 1,200 foreign firms from 43 countries and territories. The province wants to develop logistics, construction, healthcare and housing.

Nguyen Van Toan, vice president of the Viet Nam Association of Foreign Invested Enterprises, said a good legal framework and reasonable incentives for investors were needed to lure the investment.

Moody’s upgrades VPBank’s outlook

Global credit rating firm Moody’s Investors Services has maintained Viet Nam Prosperity Bank (VPBank)’s long-term domestic and foreign currency deposits at B1 while raising its outlook from “stable” to “positive”.

This upgrade showed that Moody’s believes in the bank’s ability to flexibly adjust its growth strategy as well as continuously improve risk management system amid the complicated COVID-19 pandemic situation. Moody’s also highly appreciated VPBank’s credit growth, good profit performance and capital potential in 2020.

In addition, good business growth results along with having the most advanced risk management system have helped VPBank “score up” in the eyes of prestigious rating agencies in the world. The bank’s brand value has increased 37 places, reaching US$502 million, and listed in the top 250 of the world’s largest banks in 2020.

By the end of 2020, VPBank’s consolidated credit growth increased 19 per cent compared to the previous year, of which individual banks reached 21.8 per cent, much higher than the industry average of 12.13 per cent. Non-performing loans (NPLs) have been kept under control, with the consolidation rate (according to Circular 02) remaining below 3 per cent.

The bank’s total operating income (TOI) in 2020 reached more than VND39 trillion, posting 7.4 per cent year-on-year increase and maintaining its position in terms of revenue among joint stock banks. Its consolidated pre-tax profit in 2020 reached more than VND13 trillion, fulfilling 127.5 per cent of the plan set out at the beginning of the year, up 26.1 per cent compared to 2019. Of which, profit at individual banks contributed 71 per cent to consolidated profit. Return on equity (ROE) and return on total assets (ROA) were still among the top performers in the market, at 22 per cent and 2.6 per cent, respectively.

The bank’s capital adequacy ratio (CAR) was nearly 12 per cent according to Basel II standards, 8 per cent higher than the minimum required level. The cost control combined with digitalisation have helped reduce the consolidated operating cost by 7.7 per cent compared to 2019. The cost-to-income (CIR) ratio dropped sharply to 29.2 per cent in 2020 compared to 33.9 per cent at the end of 2019, the lowest level among commercial banks in Viet Nam.

With a well-established risk management system and updated continuously to adapt to each period, VPBank was awarded by The Asian Banker magazine for The Achievement in Liquidity Risk Management, bringing the bank to par with the leading credit institutions in Asia in the field of risk management for the first time.

The Asian Banker assessed that VPBank’s liquidity risk management system works effectively and ensures safety for the bank, helps the balance sheet structure stay healthy, monitor liquidity risks and diversify capital mobilisation in the market. VPBank also completed Basel II nearly a year earlier than the State Bank of Viet Nam’s requirements. It has gradually implemented its goal of approaching more comprehensive international risk management standards.

VPBank was also voted by the HCM Stock Exchange (HOSE) as the Top 20 companies with stocks in the list of the highest Viet Nam Sustainability Index (VNSI) in the market.

VietJet Air opens five new air routes to Phu Quoc

Low-cost carrier VietJet Air has recently launched five additional air routes to Phu Quoc with the primary aim of boosting tourism activities and socio-economic development among localities nationwide.

As a means of meeting the various travel needs of local passengers on the upcoming National Reunification Day on April 30 and May Day on May 1, VietJet Air launched a series of flights from Da Nang, Thanh Hoa, Nha Trang, Da Lat, and Vinh to Phu Quoc.

Furthermore, the Vinh-Phu Quoc route will run from March 28, with the Da Nang- Thanh Hoa-Phu Quoc route launching from April 2, whilst the Nha Trang – Phu Quoc, Da Lat – Phu Quoc route will start from April 29

The local airline has also increased flights on routes from Hanoi, Ho Chi Minh City, and Hai Phong to Phu Quoc, along with other existing routes.

To ensure that anti-pandemic measures are strictly enforced, the airline has advised passengers to fully comply with procedures, including filling the out the health declaration form on https://tokhaiyte.vn and wearing face masks throughout the duration of the flight.