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Vung Ang Economic Zone Management Authority sent documents to departments and relevant authorities to collect opinions about appraising the project. VinES and Gotion Inc. will contribute $50.86 million (49 per cent) and $53.47 million (51 per cent), respectively, to establish the joint venture. According to the investor’s proposal, the joint venture will arrange another $171.3 million from credit funds and other organisations. The factory will produce lithium iron phosphate (LFP) batteries, which are currently the most used batteries in the global new energy vehicle market. According to the plan, the construction is expected to start in the fourth quarter and be completed in the fourth quarter of 2023. The factory is expected to start operation in the first quarter of 2024. Last December, Vingroup already began construction of the first VinES battery factory, which is backed by VND4 trillion ($173.9 million) in capital and developed on eight hectares in its initial phase. … [Read more...] about Vingroup to develop second battery factory in Vung Ang

At a Monday ceremony on this year's amnesty, Nguyen Van Long, Deputy Minister of Public Security, said criminals that "violated economic management orders and misused their positions" must "complete their civil responsibilities" before they could be considered for amnesty on National Day (Sep. 2) this year. This is the second year in a row that Phuc would grant amnesty, and also the second where those accused of corruption must have compensated for their crimes before they could be considered for amnesty. Vietnam has had six amnesty occasions from 2009 to 2016, with around 90,000 prisoners released early. Those eligible for this year's amnesty on National Day are those serving timed sentences, those who've had life sentences reduced to time sentences, and those who've had their prison sentences suspended. Prisoners to be considered for amnesty must have good behavior and served at least half their sentences or at least 15 years. Monetary compensation is also an additional … [Read more...] about Corruption accused must pay full compensation for amnesty consideration

Passion fruit is among Vietnam’s top 10 fruits with the highest export earnings. China’s customs have authorized the import of passion fruit from Vietnam from July 2022, the first time for this kind of fruit, which is listed among Vietnam’s top 10 fruits with the highest export earnings. The fruit would be shipped through the Pingxiang border gate, Dongxing City, Guangxi Province, China. Passion fruit is one of Vietnam's top 10 fruits with the highest export earnings. File photo Chinese customs asked Vietnamese agencies to meet regulations on production management and phytosanitary, the Global Good Agricultural Practice (GlobalGAP) and the Vietnamese Good Agricultural Practice (VietGAP). Vietnam’s Ministry of Agriculture and Rural Development (MARD) is in charge of supervising the quality and connecting exporters. Over the past five years, Vietnam’s export of passion fruit has seen a rise of more than 300% in terms of quantity and value, listing Vietnam … [Read more...] about China starts importing Vietnam passion fruit

Vietnam’s economy has been firm on the recovery track, with the GDP growth in the second quarter at 7.72% year-on-year, the highest second-quarter growth since 2011. Based on Vietnam’s economic performance in the first six months of the year and expectations for the remainder of 2022, the Ministry of Planning and Investment (MPI) expected the economic expansion rate may hit 7% this year, 0.5 percentage points higher than the Government’s target of 6.5%. Minister of Planning and Investment Nguyen Chi Dung at the meeting. Source: VGP MPI Minister Nguyen Chi Dung forecast at the monthly Government meeting held today [July 4]. According to Dung, Vietnam’s economy has been firm on the recovery track with the GDP growth in the second quarter at 7.72% year-on-year, the highest second-quarter growth since 2011. This lifted the overall six-month GDP growth to 6.42% year-on-year, higher than the 5.74% rate in the same period of 2021, and equivalent to the … [Read more...] about Vietnamese Gov’t targets GDP growth of 7% in 2022

Frozen shrimp production at a factory in the Mekong Delta province of Hau Giang. (Photo: SGGP) The country earned more than $3.2 billion from aquatic exports in the second quarter of 2022, an increase of 36 percent from the same period last year. According to VASEP, shipments of shrimp picked up 7 percent – a quite modest pace – to total $450 million as a result of input shortages. Though, the sector experienced a strong growth of 33 percent in H1 to bring home $2.3 billion, accounting for 40 percent of the total seafood exports. Several producers have raised the shipments of high value-added processed shrimp products, instead of raw ones, to major markets like Japan, the US and the EU as a way to address input shortages. Exports of lobster posted a record-high 30-fold surge year-on-year to $130 million. High inflation coupled with the Russia-Ukraine crisis have brought big opportunity for Tra fish from Vietnam this year. Sanctions on imports of Russian-caught whitefish in … [Read more...] about Aquatic exports spike 40 percent in H1

Chairwoman To Thi Bich Chau congratulates Muslim community on Raya Idil Adha (Photo: SGGP) Today, at the Muslimin Mosque in Ho Chi Minh City’s Phu Nhuan District, the delegation of the Vietnam Fatherland Front Committee led by chairwoman To Thi Bich Chau paid a visit to the mosque congratulating the Representative Board of the Muslim Community and the Management Board of the Mosques and Minor Basilicas of the Muslim Poles in the city, on the occasion of the Great Day of Raya Idil Adha which is considered the greater Eid and the holiest day on the Islamic calendar. Chairwoman Bich Chau graciously sent her best wishes and best wishes to the Representative Board of the Muslim community in Ho Chi Minh City, the Management Board of the mosques and minor mosques in the Muslim regions, and other religious leaders and dignitaries and fellow Muslims. Ms. Chau congratulates a senior man at the Muslimin Mosque (Photo: SGGP) She also hoped that Muslim compatriots would continue to … [Read more...] about Fatherland Front Chairwoman congratulates Muslim community on Raya Idil Adha