Profiting business ideas

Inside a Tien Phong Plastic Joint Stock Company factory. (Photo courtesy of the company) Hanoi (VNS/VNA) - Many plastic enterprises reported increased gross profit in the second quarter of this year thanks to lower raw material prices. Binh Minh Plastics Company (BMP)’s revenue reached 1.56 trillion VND (66.7 million USD) in Q2, up 7% year-on-year. The company's profit after tax was 3.5 times higher than in the second quarter of 2021, mainly thanks to the significant improvement in gross profit margin from 12.9% to 25.1%. The business attributed the increase in profit to the decrease in the price of plastic raw materials and unchanged selling prices. Tien Phong Plastic JSC (NTP) also recorded positive business results in Q2. Specifically, revenue increased 38% to 1.72 trillion VND (73.6 million USD). Gross profit doubled to 504 billion VND. Profit margin was 29.3%, up sharply from 19.9% in the second quarter of 2021. However, financial expenses and selling expenses … [Read more...] about Plastic firms report profit rises in Q2

After planting soybeans for a long period of time, Mr. Dang Quang Chieu in Cu Jut district, Dak Nong province, has only seen real profits in the past three years. A business provided Chieu with new, high-yield and high-quality seeds that doubled his sales prices and very much improved his family’s income. Many farmers in the area, after moving away from growing soybeans due to low productivity, are now planting the crop again. This is attributed to the Vinasoy Soybean Research and Application Centre’s active research, selection, and testing of a non- GMO soybean variety from more than 1,530 precious genetic resources, which it provides to local farmers. The area for soybean growing in Vietnam has continually declined since 2010, from nearly 198,000 hectares to just over 37,000 hectares. If this situation continues, Vietnam will face a shortage of 3.5-5 million tons of soybean s a year, and will have to outlay 2-3 billion USD on imports. The main reason behind the … [Read more...] about Vietnam moves to lessen dependence on soybean material imports

As of increasing passengers in July, 41 flights are cancelled due to technical factors and late flights. The on-time rate of flights was only 81 per cent out of the total of more than 33,200 flights. — Photo cafef.vn The number of air passengers reached nearly 12 million, an increase of more than 40 per cent in July compared to pre-COVID, said the Civil Aviation Administration of Viet Nam (CAAV). Along with a sharp increase in the number of passengers, flight cancellations and delays also increased rapidly, partly due to subjective errors from airlines, adding the local airports served, of which domestic passengers flew more than 10.5 million times, an increase of nearly 6 per cent compared to June. CAAV said flight delays and cancellations in the past month had increased dramatically many times, causing frustration in public and affecting the quality of aviation services. The matter was partly due to many bottlenecks in the airport infrastructure and unusual weather, said … [Read more...] about Air passengers reach record number, delays and cancellations increase