Samsung engineering

Exports increased 17% year on year in the first half of 2022. (Photo: VNA) Hanoi (VNA) - Vietnam saw a year-on-year increase of 17% in exports in the first six months, but it will be hard for overseas shipments to meet expectations in the last half of the year, according to the HSBC . In its “Vietnam at a glance” report released on August 17, it said after the impressive export growth in H1, a slower-than-expected pace has been recorded since the start of H2. The main cause is a growth slowdown in the electronics industry, especially mobile phones. Samsung’s second-quarter results show that demand for consumer electronics is weakening, thus affecting the smartphone, TV, and other segments. While textile, garment and footwear exports rose sharply, by 30% from a year earlier, the Vietnam Textile and Apparel Association forecast the amount ordered will decline in the time ahead. In July, import growth also slowed down to only 3.4% compared to the double-figure … [Read more...] about Export growth may be slower than expected in H2: HSBC

A view of Nghi Son Petrochemical and Refinery Plant (Photo: baodautu.vn ) Hanoi (VNA) – The Vietnam Oil and Gas Group (Petro vietnam ) has proposed the Government invest in a petrochemical and refinery complex and national oil storage in Long Son oil and gas industrial park in Long Son commune, Vung Tau city in the southern province of Ba Ria-Vung Tau, with a total investment of nearly 19 billion USD in two phases. The complex comprises two parts – a petrochemical and refinery plant project and a project to build a national storage for crude oil and petrol products. In the first phase, the petrochemical and refinery plant will have a capacity of processing 12-13 million tonnes of crude oil per year, along with 0.66 million tonnes of condensate, LPG and Ethane. The output of the plant will be 7-9 million tonnes of petroleum and 2-3 million tonnes of petrochemicals each year. In the second phase, the plant will receive additional investments to increase its output by 3-5 … [Read more...] about PetroVietnam proposes 19-billion-USD petrochemical complex, oil storage project

Universities provide various attractive scholarship policies for students The Development Fund of the Vietnam National University - Ho Chi Minh City has coordinated with sponsors to award 43 scholarships worth VND 1.7 billion to extremely difficult students in its member schools and faculties of the Vietnam National University - HCMC. 41 full scholarships each worth VND50 million will be given to first-year students, VND 30 million for a second-year student, VND 20 million for a third-year student, and VND 10 million for a final-year student in addition to two incentive scholarships each worth VND5 million. Scholarship recipients ought to meet the requirements that they are studying at member schools, branches and affiliated faculties, and those who are disabled, orphans, homeless, and those from families living on an income marginally the poverty line and near-poverty line with relatively good academic performance in the school year 2020-2021. According to Associate Professor … [Read more...] about Universities provide various attractive scholarship policies for students

Yerkin Tatishev, founder and chairman of Kusto Group During your visit to Vietnam, you identified and reconfirmed the potential of the Vietnamese market. Could you please share your investment strategy and plan for the coming years? Over the past 10 years, we have invested in different industries in Vietnam from cement to logistics and real estate. During that time, we also gained a lot of experience. The business results of the projects are different but in general, they are positive. Through this process, we have also built strong foundations for development in Vietnam such as a network of partners, friends, and a deep understanding of the local market. The Vietnamese government is stepping up investment in infrastructure such as roads, airports and many others, in which private companies are actively participating. Investment in infrastructure will create a positive growth engine for Vietnam. The nation's infrastructure system is changing very quickly and I firmly … [Read more...] about Kusto Group diversifies its business in Vietnam

Indonesia President Joko Widodo. (Photo: AP) Jakarta (VNA) – The Government of Indonesia has set its economic growth target at 5.3% next year, President Joko Widodo said in his 2023 State budget speech during the plenary meeting of the House of Representatives earlier this week. The government will continue to redouble efforts to ensure the sustainability of the national economic recovery, and to push for consistent production expansion to create as many job opportunities as possible, he said. He also stressed that new sources of growth must be realised without delay. In keeping with this, the implementation of various structural reform agendas has continued to be accelerated for bringing about economic transformation. Investment must be stimulated, while the competitiveness of national manufacturing products in the global market must be improved, the President said. He further noted that the private sector has increasingly become more robust as an engine for … [Read more...] about Indonesia eyes GDP growth of 5.3% next year

The prices of automobiles in Vietnam have been continuously increasing in the wake of the COVID-19 pandemic due to a dearth of auto parts. Many Peugeot car models manufactured and assembled by Vietnam’s Truong Hai Auto Corporation (THACO) will see price hikes of VND20-40 million (US$854-1,709) beginning in September. This is not the first time THACO has increased the prices of its products since the pandemic was put under control. The cost of other models assembled by THACO, such as the Kia Sonet and Kia Seltos, also jumped by tens of millions of dong. (VND10 million = $427) Despite the price hikes, many buyers are on three-to-six-month waiting lists for their new cars. Toyota Vietnam hiked the listed prices of its two best-selling MPV (multi-purpose vehicle) models Avanza and Veloz by VND10 million ($427) in early August. The Toyota Avanza series now sells for VND558-598 million ($23,800-25,500), while the Toyota Veloz costs VND658-698 million ($28,100-29,800). Some … [Read more...] about Car prices rise due to auto parts shortage in Vietnam