Nguyen Tri Hieu, economist and senior financial expert What is Vietnam’s current standing with regards to Industry 4.0 and how deep has technology penetrated into the country’s economy? The Fourth Industrial Revolution is currently the buzzword across Vietnam, even though we have yet to finalise the 3.0 growth path. We still lag behind many countries in terms of economic development. However, we should not miss out on the global megatrend and position ourselves at the forefront of industrial development. This is a new era of irreversible development across the world, as well as for Vietnam. In fact, the country has been on the 4.0 path for a few years now, particularly in the field of high-technology. However, in low-tech fields such as agriculture, textile clothing or real estate, we are behind many other countries. We must achieve the dual and parallel tasks of carrying out reforms aligning with the 3.0 growth path and initiating 4.0. The implications of … [Read more...] about Industry 4.0 tech essential to build cashless economy
Rail support industries
BUSINESS NEWS IN BRIEF 1/9
Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9
ViMariel, the first Vietnamese industrial park in Cuba
Vietnam – Cuba have always sought to boost economic cooperation, brought it closer to the long-standing diplomatic relations between two countries. As the first Vietnamese company to enter the Cuban market, Viglacera Corporation has invested into its first industrial park in the country. TC Mariel is poised to become a major transshipment hub in America ZEDMariel: Potential to attract investment in Cuba Mariel Special Development Zone (ZED Mariel) is the first special development zone in Cuba, which is only 45 kilometres from the capital Havana. This zone has been invested by the Cuban government to become the largest industrial area in the country. The Cuban government encourages investment in the sectors of food industry, consumer goods, construction materials, packaging industry, and agriculture to provide to the domestic market and promote socioeconomic development. In the future, ZED Mariel is expected to export products and services in the region and become the … [Read more...] about ViMariel, the first Vietnamese industrial park in Cuba
World Bank seeks fund for Vietnam’s rail development
The conference discussed the vision of the country’s railway sector, appreciation and development plan of the Vietnamese railway industry, prioritization and the mobilization of human resources. Participants asked the railway system to connect with seaports and international railways along economic corridors in the region. Country Director for the World Bank in Vietnam, Ousmane Dione said that WB will connect with financial organizations to seek funds and support for rail development in Vietnam. By BICH QUYEN - Translated by Kim Khanh Tags: World Bank Vietnam’s rail development … [Read more...] about World Bank seeks fund for Vietnam’s rail development
France faces second day of transport chaos as rail workers strike
Weeks of disruption lie ahead for France's 4.5 million daily train passengers AFP/ludovic MARIN Only one in seven high-speed TGV trains and one in five regional trains were expected to be running, state rail operator SNCF warned, after similar stoppages on the first day of the walkout that French media dubbed "Black Tuesday". The strike is being led by SNCF staff but workers at Air France as well as garbage collectors and some energy workers also staged separate walkouts in a growing atmosphere of social strife 11 months after 40-year-old Macron came to power. Macron's government says the heavily-indebted SNCF needs deep reforms as EU countries prepare to open passenger rail to competition by 2020, arguing it is 30 per cent more expensive to run a train in France than elsewhere. Unions fear the changes are a first step towards privatising the national rail operator - a claim the government denies - and object to plans to strip new hires of a special rail workers' status guaranteeing … [Read more...] about France faces second day of transport chaos as rail workers strike